Recently, comedian and conspiracy theorist Owen Benjamin sparked a heated discussion by labeling Bitcoin (BTC) as a “decentralized Ponzi scheme.” This assertion has prompted responses from various figures in the crypto space, including Ripple CTO David Schwartz, adding complexity to the ongoing debate.
Bitcoin: a Decentralized Currency or Ponzi Scheme?
Owen Benjamin’s argument revolves around the idea that Bitcoin operates more like a decentralized Ponzi scheme than a decentralized currency. He contends that people are not spending Bitcoin because they hope its value will rise, comparing it to a “hot potato” that individuals are reluctant to part with.
Benjamin suggests that assets like silver, gold, and land, which possess inherent beauty, utility, and value, are more reliable stores of wealth. He further claims that Bitcoin lacks an identifiable individual attached to it, which would be essential in a traditional Ponzi scheme, giving the media control over price swings fo
We współpracy z: https://coingape.com/is-bitcoin-a-decentralized-ponzi-scheme-ripple-cto-gives-his-2-cents/
