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Old 2nd January 2018, 05:01 AM   #1364
Craig B
Penultimate Amazing
 
Join Date: May 2011
Posts: 22,841
Originally Posted by psionl0 View Post
Bitcoin is NOT a ponzi scheme and it doesn't "masquerade" as anything other than exactly what it is.
Good. So what's your reasoning. Is this it?
Quote:
The fact that you have to consistently find new adjectives to make bitcoin seem worse than it is is your problem.
I'm not at all impressed with that argument. Recall mine? Bitcoin and Ponzi schemes have a prime essential similarity. They are both arrangements for taking money out of an enterprise without putting any new real value into it.

All you have to do to refute that, is to show the value added, or revenue generated, by Bitcoin. As you have been invited to do: tell us what its price to earnings ratio is, for example. That would settle the matter.
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