TD₿: Why Bitcoin is Not a Ponzi Scheme: Point by Point by Lyn Alden
TL;DR A leaderless, transparent investment with a fair launch by definition cannot be a Ponzi scheme.
A common argument you’ll often hear when you talk about Bitcoin with the uneducated is “Bitcoin is a Ponzi scheme.”
If someone throws this retort your way you can safely assume the person:
A.) Doesn’t understand how Bitcoin works
B.) Doesn’t understand what a Ponzi scheme is
The truth is Bitcoin can’t be a Ponzi scheme because it was fairly launched with no pre-mine, is fully transparent, and is completely leaderless.
Investment Strategist Lyn Alden addressed this common critique in her article “Why Bitcoin is Not a Ponzi Scheme: Point by Point” (01/11/21).
This is an example of the facts violating another narrative parroted by Bitcoin critics.
It shows how early we really are today given that investors still believe this nonsense that Bitcoin is some elaborate Ponzi scheme.
This is bullish. 🚀
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Quote of the Day
“That's another thing that drives me to Bitcoin: the search for objective, undeniable truth.” - Marty Bent, Founder of Tales from the Crypt and Venture Partner at Ten31
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