Read_485 - Why Bitcoin Is Not a Ponzi Scheme [Lyn Alden]
“From the beginning, Bitcoin has remained an open source and fully transparent project, and has the most organic growth trajectory of the industry. Given available information, the market has priced it as it sees fit, out in the open.” - Lyn Alden
Bitcoin is a Ponzi, say the detractors. Their arguments never seem anymore sophisticated, and sound increasingly desperate as Bitcoin continues to defy their view. Is there any truth to this? Well Lyn Alden decides to break it down for us, using a range from the most narrow, to the most broad view of a Ponzi, and lays out Bitcoin’s history, network effects, & open nature against it, to make the rather obvious case in hindsight, that Bitcoin, is indeed, Not a Ponzi scheme.
Check out the original for a few great graphics and charts to better visualize the argument, and to support/follow the work both of LynAlden, and the excellent Swan Bitcoin blog:
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