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Is Bitcoin the most legal "Ponzi"?

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Avatar for MikeZillo
Written by   7
4 months ago

The fact

The other morning I was lazing with the "infernal machine" (the smartphone) and my astonished gaze was kidnapped by an article in a well-known newspaper.

He talked about Bitcoin defining it as a ponzi scheme ... while reading the gaze has undergone some metamorphoses: from intrigued to a lottonito to become disconcerted.

Yes, as you have read, Bitcoin has been compared to a ponzi scheme.

With lots of data in hand.


The article clearly states that the major holders of BTC, having arrived first and having a certain amount of it, have left only the crumbs to those who arrive now, not to mention those who will arrive.

So this "infamous" Bitcoin in addition to being called a "financial bubble" for some, has now also become a Ponzi scheme

So far nothing serious in fact each of us has his own point of view and it is more than legitimate ...

Exactly, now I'll explain mine, POV (Point Of View, which in this case has nothing to do with the famous song by D.A.D.).

The Genius of Evil

The Ponzi scheme owes its name to an Italian named Charles Ponzi who immigrated to the United States, where he implemented a pyramid system, based simply on nothing (no product, much less a service): he recruited people at a cost of 2 dollars with the promise of becoming millionaires.

With his pyramid he managed to defraud about 40,000 people (including the Italian community in the US and also native Americans) and total about 15 million dollars.

As you can easily understand, the ponzi scheme relies on the greed of people who are seduced by easy and substantial earnings, with expertise presented by histrionic characters.

This system is based solely and exclusively on the recruitment (and consequent scam) of as many people as possible, so it is easy to understand that sooner or later it is destined to disintegrate due to the impossibility of recruiting, or for the intervention of the police that they block and hopefully bring evildoers to justice.


A digression is necessary, as we must not confuse a ponzi scheme with the noble sales art of Multi Level Marketing, in fact in the multilevel the gains are there and can also be important, but the profitability is based only on the sale of products (and therefore a real turnover generated) and not on recruiting people like the ponzi scheme. It should be noted that, in all ways, there are shrewd and unscrupulous people who in no time at all transform the Multilevel into a Ponzi.


Very simple, Multilevel is famous for being a mobile job and without any initial investment. If the sales rep wants to learn about the products so that they can explain them later, they can get them when and how they want and there are no predefined packages for accessing the code.

The parallel

As most of us know, Bitcoin is a Cryptocurrency, and it is based on a public Blockchain. So if one wants to buy a BTC or part of it, it is sufficient to register in an Exchange and proceed with the purchase using fiat currency.

Obviously, the purchase can have two directions: either you proceed to the trade in order to make this sum yield, or you rely on the market rules and expect the price to rise.

In the latter case it is advisable to transfer the sum to a Wallet which is much safer.

From the 4 lines I just wrote it is clear whether the title equation is correct.


BTC is an electronic currency, and it little differs, in use, from the "visa" or "maestro" that each of us jealously keeps in our wallets.

In fact, some structures accept it as a normal legal tender currency.

So what does buying BTC or buying dollars change? Absolutely nothing: in one case I transformed euros into BTC, while in the second I transformed them into dollars.

Does anyone see a ponzi scheme in this? Personally I don't see it, I just see a currency purchase.

And again: if the first buyers of BTC (I am connecting to what is asserted in the article) had had strong earnings, was it thanks to those who buy BTC now?

I do not think so!

A clarification: being BTC regulated by market laws, clearly the price increases because the demand grows, but the offer always remains the same. So, absurdly, my purchase also contributes to raising the price.

If we want a "Pontian transposition" of the reasoning, it is easy to do, but the reasoning does not hold up as the percentage of "gain" of the former is the same as the last one who bought BTC !!!

And the same quantity, not the crumbs that the author of the article is advertising.

In conclusion, it is clear that the equation of the title is not proven as the BTC (as well as all the altcoins) cannot be a ponzi scheme, there are no prerequisites.

We could define it (and here people who are truly prepared in financial matters could contradict me) a digital gold, almost like a safe haven.

So we can loudly say that Bitcoin is NOT a Ponzi scheme!

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Avatar for MikeZillo
Written by   7
4 months ago
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