Calling #Bitcoin
a Ponzi scheme is inaccurate, and rooted in:
- ignorance
- stupidity
- ideological slander
You pick.
cc/ @slightlylate
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Replying to @ejpbruel
@ejpbruel@slightlylate I'm not sure what you're alluding to?2 replies 0 retweets 0 likes -
Replying to @csuwildcat
@ejpbruel@slightlylate Bitcoin isn't a Ponzi: - isn't orchestrated - doesn't pay old invst w/ new $ - doesn't require ascending investment2 replies 0 retweets 0 likes -
Replying to @csuwildcat
@csuwildcat@ejpbruel : it absolutely paid old investors with new $, that's the natural effect of the asymptotic mining1 reply 0 retweets 0 likes -
Replying to @slightlylate
@slightlylate@ejpbruel lol, no, no it isn't. Buy that definition, all commodity mining is Ponzi, and that's ludicrous.2 replies 0 retweets 0 likes -
Replying to @csuwildcat
@slightlylate@ejpbruel miners don't pay an asset mngr to reinvest, they buy equipment to process transactions and earns money for doing so.1 reply 0 retweets 0 likes -
Replying to @csuwildcat
@slightlylate@ejpbruel imagine if Visa allowed 3rd party to place CC machines in businesses that processed transactions for them, for a fee1 reply 0 retweets 0 likes -
Replying to @csuwildcat
@slightlylate@ejpbruel it's not really mining at all - miners are transaction processors, and operate on fees, regardless of block rewards.3 replies 0 retweets 0 likes -
Replying to @csuwildcat
@slightlylate@ejpbruel long after all blocks are "mined", "miners" will be there to process transactions for a tiny, per transaction fee.1 reply 0 retweets 0 likes
@csuwildcat @ejpbruel : and, just to be clear, an *absolutely known*, non-substitutable fixed quantity
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