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Baitball Blogger

(51,446 posts) Mon Sep 29, 2025, 05:27 PM Sep 29

I seriously don't know the difference between the concept for bitcoin and what Bernie Madoff. [View all]

They are both Ponzi schemes. At least Madoff was careful to allow in investors that had huge sums of money to pay the initiation fee, which he then used to redistribute to the older members.

Bitcoin is just a ponzi scheme. If they stop taking on new investors, the pyramid will fall.

Why was one illegal? And the other legal?

11 replies

= new reply since forum marked as read

Highlight:

I seriously don't know the difference between the concept for bitcoin and what Bernie Madoff. [View all] Baitball Blogger Sep 29 OP

No, not really... WarGamer Sep 29 #1

... or tulips? hedda_foil Sep 29 #6

17th Century "Tulip Mania" WarGamer Sep 29 #8

I see it this way too sakabatou Sep 29 #10

Maybe Madoff's ghost will haunt these Crypto grifters. hlthe2b Sep 29 #2

Madoff was a Ponzi, but individual cryptocurrencies are something else. RockRaven Sep 29 #3

bitcoin gets a soft crash rampartd Sep 29 #4

It's very conflicted in my mind too bucolic_frolic Sep 29 #5

theoretical max number of BTC is 21 million WarGamer Sep 29 #7

This message was self-deleted by its author sakabatou Sep 29 #9

Not Ponzi, but still a house of cards. Nothing stopping bitcoin holders selling out and buying etherium etc. Bernardo de La Paz Sep 29 #11