Yes it was, lol. By design it can only function as a ponzi scheme, the itention might have been something else behind it but that doesn’t mean it wasn’t a scam from the get go
Who are the scammers? There is no company behind bitcoin and the soure code is open for anyone to look at at any time and anyone can participate.
Edit:
A ponzi scheme is a specific thing that people like to throw at any perceived scam. Ponzi means there is money being put into btc with the promise of more money being able to be withdrawn only because more people join… which is certainly not the case for btc. There is no account where money is being deposited… only a record on a block chain. There is no guy at the end scooping up money.
By being designed a deflationary currency, Bitcoin price was “doomed” to repeatedly spike with every halving. The “scammers”, then, are the people who got in early and hoarded Bitcoin.
It’s known that the original guy mined a whole bunch of coins to start with and has never cashed them in. He doesn’t seem to care about money much and just wanted to work on something interesting. Bitcoin is really a garage project that’s gotten out of hand.
Now, everyone who picked it up after that on a Greater Fool theory, sure, absolutely.
… in that it wasn’t a scam from the beginning…
Scammers just saw an opportunity later.
Yes it was, lol. By design it can only function as a ponzi scheme, the itention might have been something else behind it but that doesn’t mean it wasn’t a scam from the get go
Who are the scammers? There is no company behind bitcoin and the soure code is open for anyone to look at at any time and anyone can participate.
Edit: A ponzi scheme is a specific thing that people like to throw at any perceived scam. Ponzi means there is money being put into btc with the promise of more money being able to be withdrawn only because more people join… which is certainly not the case for btc. There is no account where money is being deposited… only a record on a block chain. There is no guy at the end scooping up money.
By being designed a deflationary currency, Bitcoin price was “doomed” to repeatedly spike with every halving. The “scammers”, then, are the people who got in early and hoarded Bitcoin.
The delusion is strong with this one, here is a video educate yourself if you want I no longer care to argue with cryptobros
https://youtu.be/YQ_xWvX1n9g?si=bZc0DZc4zE_TGdPg
It’s known that the original guy mined a whole bunch of coins to start with and has never cashed them in. He doesn’t seem to care about money much and just wanted to work on something interesting. Bitcoin is really a garage project that’s gotten out of hand.
Now, everyone who picked it up after that on a Greater Fool theory, sure, absolutely.