Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

WarGamer

(18,094 posts)

1. No, not really...

Reply to Baitball Blogger (Original post)

Mon Sep 29, 2025, 05:32 PM

Sep 29

A Ponzi scheme is... invest $1000 in my firm and I'll pay out a 30% return annually... those who request their funds back are paid with interest by newer investors. If everyone wants their money back, it's front page news on the WSJ.

Bitcoin is a traded commodity, like corn or platinum. Or tulips?

It went from a penny to $100,000 because it's a "perceived" token of value.

So... a Ponzi scheme? No. But an investment in the strictest sense? Hell no.

Think of Bitcoin like Pokemon cards... or Beanie Babies.

Edit history

Please sign in to view edit histories.

Recommendations

3 members have recommended this reply (displayed in chronological order):

Jilly_in_VA DBoon Bernardo de La Paz

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

Latest Discussions»General Discussion»I seriously don't know th...»Reply #1