Is Crypto The Biggest Ponzi Ever?

[Jasmine]

Recently, someone in China said Crypto is the biggest Ponzi on the human history.

Do you think Crypto is a Ponzi scheme?

Sometimes when you hear from people like Bill Gates and Warren Buffet, you start believing that Crypto is not a good asset for investment, in fact it is not even an asset.

Do you really think crypto is not a good investment?

Interestingly, there are also people like Kevin O’Leary and Mark Cuban who have announced openly than they have invested in crypto and believe that crypto can make you a fortune. Kevin O’Leary went even further to say that crypto will become the 12th sector in the global economy.

Kevin O’Leary has said that he has investment in 36 different crypto assets and Mark Cuban has said that 80 percent of his non-Shark Tan investment is in different crypto portfolios.

Multi-millionaires like Kevin O’Leary and Mark Cuban cannot be wrong when it comes to investment, right?

 

[mathawmio]

Those who claim cryptocurrency are scams, own cryptocurrency themselves. People like Elon Musk have taken advantage of his reputation to manipulate the value of Bitcoin and bring in huge profits.
As long as the cryptocurrency is not counterfeited or stolen by looking up the security phrase or the private key, it is still alive.

 

[allison001]

It all depends on what we want, normally everyone have the right to decide what they need in this life. Cryptocurrency to me is not a scam and I wouldn't want to believe it to be so .

Cryptocurrency is not being controlled by anyone. If it is a Ponzi scheme as they claims it to be then they should tell us who is behind the the control of cryptocurrency because as I understand cryptocurrency is not being controlled by anyone . It is a general world asset that can be invested by anyone.

Well , what I understand is that cryptocurrency has made a lot of people millionaires and a lot of more people are also becoming millionaires with cryptocurrency. I wouldn't see why it should be a scam.

Just that , a lot of people who are losing their money in crypto projects that are not real might start calling it a scam.

 

[btaliat]

I don't know why those that labeled crypto did so. There is nothing that connects crypto and ponzi. Even their ideologies differ in many respects. While ponzi doesn't believe in sales. Ponzi only promotes MLM where you need to bring one more member whom they will rob to pay you, cryptocurrency sells in selling of coins. Though, just like some shares and stocks, you don't need to see these assets.

Apart from the fact that ponzi scheme doesn't sell anything, the nature of the scheme still differ. Ponzi is somehow centralizes while crypto is decentralizes. You are the controller of your money anytime and anywhere. This is not so in Ponzi. Sometimes, your money may be locked for some times before you will have access to them. It may be 21 or even more than that.

Aside from that fact, ponzi is generally not acceptable in a y country. No country or even citizens can be proud to publicly promote Ponzi without any backlash from the public. This is not so in crypto. There is no uniformity when it comes to crypto. Though not all countries accept it, some just regulates it while minority of them publicly reject the idea of crypto.

 

[cmoneyspinner]

Multimillionaires are no different from other people. They can be wrong. But when it comes to saying crypto is ponzi shceme, IF Kevin O'Leary and Mark Cuban don't think so, I'm inclined to agree with them. However, it might not be a ponzi scheme, but there are people out there who can think of lots of other ways to defraud you. This article by CoinCentral shares information on the most common crypto-crimes: "Crypto Crimes: ICO Scams, Robbery, and Money Laundering" ~ coincentral.com/crypto-crimes-ico-scams-robbery-and-money-laundering