For some strange reason, this thread about what makes bitcoin different from Luna, Celsius, Hex, and "conventional ponzis" was removed from the buttcoin sub.

https://imgur.com/a/oaDw6o1 - just check my post history.

Content:

I'm sure we can be civil here, right? This post was basically inspired by this comment in a post I made a few weeks ago. I'm just here to get your opinions.

A few years ago I made this post on /r/buttcoin: https://np.reddit.com/r/Buttcoin/comments/c7qmv9/i_had_someone_who_started_writing_a_book_about/

If we want to go by definitions, just googling the definition of ponzi scheme gets you this: "A form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

The reason why "non-existent enterprise" above is put in bold is specifically because people believe there is an enterprise, a company, or an organization that exists that they give their money to and take their money from. You can buy bitcoin anywhere on the planet (where it isn't banned, basically) and then sell it anywhere on the planet (again, where it isn't banned).

Remember Bernie Madhoff? People gave him their money directly. They took their "profits" from him directly as well.

Does bitcoin really fit that definition? In my opinion, no. Does Luna and Celsius? yup. There were people calling it a "ponzi scheme with extra steps" and the same is going around about "hex" now.

The monetary value of bitcoin is simply determined by supply and demand. If new people ask me about crypto I just tell them to buy bitcoin and nothing else, and only do it with a fraction of the money that they don't need. If you make 3000 USD a month, but only need 2000 to survive, then 100 USD each month is fine.

Oh and the thing with MLMs - you have to actually sell products to make money, and depending on the MLM, you have to make a certain amount of sales each month in order for you to take profits. You could buy 20 dollars of bitcoin today, let it sit there, and then sell it next year at a loss or sell it later for profits.

Thoughts? tbf, maybe I just said something that triggered their automod and all of the people who run /r/buttcoin are just too busy to deal with the post, but if there is no room for discussion, it just gives them a bad look.

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