Bitcoin Scam

Is Bitcoin (or any other cryptocurrency) really a Ponzi Scheme (PS)?

How a PS works really?
Imagine a PS Master offering you a deal and says:
If you invest, as much as your money (all you can afford), to buy shares of my company, I guarantee that, the value of your investment will keep increasing (exponentially), in the long term, and completely risk free. You can sell your investment shares anytime, fully or partially, for their current price. So a PS works this way but isn't this also how Bitcoin trading works? You buy as much as Bitcoin you can afford as initial investment; you wait as long as you can, to make your investment value increase as much as possible, for you.

Realize that since the value of Bitcoin would keep exponentially increasing in the long term, how much money you can make from Bitcoin investment depends on just the total value of your initial investment and how long you wait! (Wikipedia says Satoshi Nakamoto owns about one million bitcoins with current value around 19 billion dollars!)

If Bitcoin is a PS, how it would end (if it is not stopped by law everywhere)?

Imagine, as the value of Bitcoin is nonstop increasing exponentially, it would get attention of more and more people, everywhere in the world! Imagine yourself as an average person who really likes easy and risk free money making opportunities, anywhere in the world! Imagine you bought Bitcoin(s), its value kept increasing, but sooner or later you wanted/needed the money, and sold your Bitcoin(s), for a much better price! You are happy that you made lots of money from your investment! But what if the value of the Bitcoin(s) you sold, kept increasing exponentially afterwards? How long it would take before you decided to invest in Bitcoin(s) again? And if you decided to invest again, wouldn't you want to invest even (much) more money, if you can, in order to get an even bigger return, sooner?

Realize that as the value of Bitcoin(s) keep(s) increasing, mining it would be a more lucrative business all the time, meaning a positive feedback system!
Realize that as the value of Bitcoin(s) keep(s) increasing, more and more people would invest all they have, and more and more people would become ready to offer all their money to buy Bitcoin!

How long it would take for an average Bitcoin investor to realize, in order to get most money, one must invest as much as money possible as initially, and wait as much as possible, unless the price of Bitcoin reaches the highest possible level earlier, and sell back. Now try to imagine a future world where the price of Bitcoin is reached highest possible level, so that all the invest-able money in the world is invested in Bitcoin! Realize that in those times, whoever still has any Bitcoin to sell would be incredibly rich! So real winner(s) of Bitcoin (scam) will be those people who still has any Bitcoin(s) to sell when its price reached the its ultimate limits, globally! (Since there will be about 21 million Bitcoins in the end, and if Satoshi Nakamoto owns about one million bitcoins, and if all investment money globally is invested in Bitcoin in the end, isn't that mean the value of Bitcoins of Satoshi Nakamoto will be equal to 1/21 of all investment money globally? If so, wouldn't that make him the richest person ever lived, by far?)

Realize that, as the value of Bitcoin(s) keeps increasing exponentially, more and more people from all over the world, would invest all their life savings in Bitcoin! Realize that, those people would do probably anything to protect the value of their Bitcoin investments! Realize that, eventually, so many people in each and every country in the world, would be heavily invested in Bitcoin(s), and they would have enough power to prevent any government ban against Bitcoin trading!

In conclusion, Bitcoin is probably the biggest scam in world history, and if it is not banned globally, it would end in global financial collapse! It needs to be banned by each and every country in the world, while each still can!

Also keep in mind, if Bitcoin is really a PS, then so are all other cryptocurrencies!

Also I think lots of people are buying other cryptocurrency coins because of thinking they lost the biggest opportunity with Bitcoin. But is that really true?

If the price of Bitcoin is bound to keep increasing, until almost all invest-able money of everyone in the world is invested in Bitcoin, nobody left who wants to sell anymore, and so the Bitcoin price market contains only a (max) number of waiting buyers, then wouldn't any investment in Bitcoin (no matter if small), eventually would reach astronomical values? And if so then, isn't in a smart person's best interest, to just buy as much as Bitcoin possible (and keep buying as much as possible), until such time, the total value of the Bitcoins bought, surpasses anything that person would want to buy/have in his/her life? Then why try to tell everyone it is the biggest scam in world history, instead of taking advantage of it? It maybe really easy to make so much money from Bitcoin, by someone who understands its true nature, but doing so also would be extremely unethical behavior! Because it would be really just taking advantage of all the naive Bitcoin investors in the world, many who invested all their life savings!

https://en.wikipedia.org/wiki/Bitcoin
https://en.wikipedia.org/wiki/Satoshi_Nakamoto
https://en.wikipedia.org/wiki/Bitcoin_Ponzi_scheme_and_pyramid_scheme_concerns

What I discovered is that Bitcoin is a global Ponzi Scheme, for sure:
Customer buys a certain amount of shares from Ponzi Scheme Master.
Those shares gains value exponentially in the long term.

Only differences in Bitcoin are these when compared to the first Ponzi Scheme by Ponzi himself:
There is no human master(s) running the scheme. The physical ledger of Ponzi himself, replaced by a general public ledger without any human owner(s). If there was human master(s) of Bitcoin with a well known (giant) amount of Bitcoin (share) ownership, and the master is not selling (yet), sooner or later general public and all world governments, all world banks/companies would start to realize that, the total value of Bitcoins of the Master(s) reaching truly astronomical levels! Then they would have to choose either to fight against the master, or try to buy as much as Bitcoin to also make a lot of money for themselves? (Imagine more and more people realizing that there is no way to lose when somebody invests all his/her money in Bitcoin and just waits as long as possible to decide when to sell and make an astronomical profit!)

Imagine a future world, Bitcoin was never banned, almost everyone invested all their money/wealth in Bitcoin, and currently the total value of each of their Bitcoin investments are truly astronomical!
Would anyone want Bitcoin gets banned globally, and the value of all their amazing wealth waiting invested in Bitcoin, instantly drops to zero?!

Regardless of Bitcoin is really a Ponzi Scheme or not, and unless it is banned globally and completely at any time in the future, its price will/must keep increasing exponentially in the long term. Then it is obviously the best investment ever seen in world history! (Its long term price chart (since it started) is already a perfectly exponential curve, and not because of luck but because of basic economics of a limited supply investment (true buying frenzy would start when all mining comes to an end eventually)!)

As its price drops back (as a percentage) less and less over time, (because of more and more people trying to hold on to their Bitcoins as long as possible), it will be seen by the public to be an amazing investment opportunity! Imagine it turns into a true global frenzy that everyone tries to sell everything they own to buy any number of Bitcoins (or any other popular cryptocurrency) they can!

20180125:
IMHO, Bitcoin is just a new, previously unknown, modified form of Ponzi Scheme. To be exact, Bitcoin is a decentralized Ponzi Scheme with a variable long-term interest rate. But then, what is the proof for Bitcoin being a Ponzi Scheme, such as described above? How about these?

Bitcoin is a decentralized Ponzi Scheme, because it uses a public ledger (that managed by Bitcoin exchanges/"banks"), instead of a private ledger (that managed by a human master). (The founder of Bitcoin, who keeps the initial one million Bitcoins, could be seen as the "secret master" of Bitcoin Ponzi Scheme, though.)

Bitcoin is a Ponzi Scheme with a variable long-term interest rate, because its value must always increase in the long term, because of basic rules of investment economics, because of its limited availability. Meaning, any investor of Bitcoin would get an extra return in the long term, guaranteed!
So it is really equivalent of getting a guaranteed but variable interest payment in the long term! (Is there any other (real/physical) investment that can do the same?! If not, why not?! So, what would be the consequences, for the whole world economy, if no real investment can match Bitcoin?!)

(Realize that, all of these also apply to all other so-called "crypto-currencies", not just to Bitcoin!)

(Also, I think calling them "currency" is wrong. Notice that, as Bitcoin price kept increasing exponentially, people stopped using it as a currency, and started using it as an investment. This was no luck! Since the price of Bitcoin would climb exponentially in the long term, in any case, it would sooner or later would be impossible to use as a currency, and it already happened, as would be expected! So I think a better name for them could be "crypto-investment" or "token-investment" or "abstract-investment".)

20180706:
Are (any) fiat-currency and (any) cryptocurrency really equivalent, as cryptocurrency fans claim?
For example, US Dollar and Bitcoin are really equals?
Value/validity/authorization of US dollar is provided/guaranteed by US Government (and in-turn whole US Public)!
Also, not to mention, US Dollars in any US Bank is insured by US Government!
What authorization/guarantee/insurance is behind Bitcoin? Nothing!
Sorry but that is the end of discussion then!

Why do you think Satoshi Nakamoto is really hiding his identity, if Bitcoin is really such a great innovation?
He is just someone does not like media/fan attention?
Or, could it be really because Bitcoin (and all cryptocurrencies followed it) are actually Ponzi Schemes?
(So he knew very well that law enforcement would come after him sooner or later?!)

If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity?
Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?

If so-called cryptocurrencies are really currency, why no company/store can use Bitcoin as currency anymore?
Because the price of Bitcoin proved to be extremely unstable to use as a currency?
Would the result be different, if Bitcoin replaced by any other "cryptocurrency"?
Aren't all work the same way?

If so-called cryptocurrencies are really money; isn't people issuing their own money, illegal already, in all countries?
If so then, why they are still not banned in all countries?

Or, they are not actually virtual currency but virtual investment?
But, if they are actually investment, why we need/want them?
What would happen to world economy, if people invested in virtual investments, instead of real investments?

Or, all so-called cryptocurrencies are actually just a modified (made decentralized and paying variable interest) Ponzi Schemes?
(Price of cryptocurrencies would keep increasing in the long term (by their design), so it is equivalent of paying variable interest to all long term investors.)

Also, since all so-called cryptocurrencies are actually financial scams (Ponzi Schemes), that means, they cannot be the solution for any of existing financial problems of our world!

As more and more people invest in cryptocurrencies, it will become harder and harder to ban their trading everywhere (because people invested in cryptocurrencies, would try to stop anyone trying to ban cryptocurrencies)!
All cryptocurrencies need to be banned globally before it is too late!

20190630:
IMHO, all cryptocurrencies are just a new kind of scam, similar to Ponzi Scheme!!!

Isn't printing & issuing your own currency and/or stocks illegal & for really good reasons???
But isn't that what exactly cryptocurrencies really are doing???

Why do you think "Satoshi" took first 1 MILLION BITCOINS for himself & disappeared into hiding???
(Instead of proudly coming-out, if Bitcoin is really a great financial innovation!!!)

Maybe to make sure law enforcement cannot catch him, if/when BITCOIN SCAM fails/uncovered???

Maybe to sell his 1M Bitcoins all @ once, when Bitcoin price reaches its top limits???

Just THINK it!!!

20191022:
Would be a really good idea for government central banks to issue their own cryptocurrencies?

IMHO, the answer is ABSOLUTELY NOT!!!
We need to remember that, how BITCOIN price/value was keep increasing exponentially in the past!
(& it was pulling up behind all other cryptocurrency prices/values!)
& general public of whole world was starting to notice!
But, very thankfully, most of general public woken up from the spell later!
& price of BITCOIN dropped fast & stayed low for a long time!
& it is obvious, @ least 2 me, since those times, BITCOIN shills/promoters were keep trying to pump BITCOIN price/value, again & again, hoping to jumpstart exponential increase back again!
& it is obvious, @ least 2 me, it does not really work, because most of general public still think BITCOIN is a scam!

IMHO, BITCOIN shills/promoters thought long & hard about how to gain back trust of general public!
& they found a solution: What if their own government(s) issued its own cryptocurrency?
(& they started lobbying politicians & central bank officials, no doubt!)
Realize that, then it would become easy to say/argue to general public that
"If cryptocurrencies are scam, then how come your own government(s) issuing cryptocurrency?"

What is the danger of general public trusting BITCOIN (& all other cryptocurrencies)?
Imagine that BITCOIN price starts to keep increasing exponentially again!
& this time there is absolutely nothing left to stop it!
& all public, all over the world, starting to invest all their money to BITCOIN (& all other cryptocurrencies)!
& # of people still investing any/all other legitimate investments decreases exponentially!
Realize then, whole world economy would collapse, sooner or later!!!

& IMHO, the danger of allowing FB etc large global companies to issue their own cryptocurrencies is also very similar!
Such a thing would also provide/mean a lot of official legitimacy/approval/support to BITCOIN (& all other cryptocurrencies)!

& also consider that, how each government controls/manages supply/value of its own currency, based on needs of their own economy!
& try to imagine, what would happen to each/all economy, if no such government control left/possible anymore (sooner or later)!

ONLY GOVERNMENT(S) SHOULD/MUST HAVE AUTHORITY TO ISSUE CURRENCY & NOBODY ELSE!!!
& that is also why ALL CRYPTOCURRENCIES SHOULD/MUST BE BANNED, GLOBALLY, ASAP!!!

20201213:
Ransomware problem is keep growing non-stop all over the world & providing massive income to criminals!
We need to realize that what really enables ALL RANSOMWARE is easy availability of cryptocurrencies like BITCOIN which are untraceable!
& by the way, there is absolutely no need for cryptocurrencies like BITCOIN for anything!
They were promoted as virtual currency but later proved to be impossible to use for shopping because their values are completely unstable!
& by the way, cryptocurrencies like BITCOIN are causing massive amounts of other financial scams & crimes all over the world all the time!
& we seriously think that government central banks creating their own cryptocurrency is a good idea??? Do we really want to massively increase all kinds of financial crimes done using cryptocurrencies??? BITCOIN & ALL OTHER CRYPTOCURRENCIES ARE NOTHING BUT SCAMS!!!
Printing money out of thin air!!! We need to globally ban BITCOIN & ALL OTHER CRYPTOCURRENCIES to stop all ransomware etc!!!

20210418:
Crowds of people rushing to buy essentially worthless stuff for huge money is like the very definition of a financial bubble!
NFT craze is just a modern Tulip Mania!
Not to mention, NFTs can be easily/quickly stolen (by hackers/malware), just like happens all-the-time w/ bitcoin/cryptocurrency (which is based on the same (blockchain) tech)!
Also realize that as soon as "Satoshi" sells his 1 million bitcoins, everybody would rush to sell all their bitcoin/cryptocurrency/NFT!
& so they all would suddenly/quickly become absolutely worthless!

(202110214) About stablecoins:
Never be so naive to think that stablecoins are really 100% backed, as said/claimed!!
There are already known past incidents proving their value can suddenly collapse, just like any other cryptocurrency!
Why not we just use way more stable USD, instead any "stablecoin"???

(202201027) Here are (IMHO) some examples of very common/widespread logical fallacies about Bitcoin/Cryptocurrency:

"Bitcoin/Cryptocurrency cannot be a scam, because millions of people (or majority of people) think so!":
This is actually a logical fallacy called "argumentum ad populum ("argument to the people")"!
It is just like believing/claiming many millions of people who believe in astrology cannot be wrong!

"Bitcoin/Cryptocurrency cannot be a scam, because so many professors/academics/politicians/officials/CEOs think so!":
This is actually a logical fallacy called "argumentum ab auctoritate ("argument from authority")"!
I have absolutely no doubt that, if throughly/properly researched, it would be found that victims of so many known/uncovered scams were professors/academics/politicians/officials/CEOs!

Also, a scam getting really popular w/ big/institutional investors and/or lasting for so many years, do(es) not mean it cannot be a scam!
For example, massive Ponzi Scheme done by Bernie Madoff also had lasted so many years & got extremely popular w/ big/institutional investors!

Also, thinking/believing that "if Bitcoin/Cryptocurrency was a scam, it would be surely noticed/uncovered by professors/academics/politicians/officials/CEOs, because all its details are known/public knowledge" is a logical fallacy, too!
For example, back in the 90s in Turkey, there was a company which described itself as a "mathematical profit system" which was actually a Pyramid Scheme!
The important thing is, full details of how exactly its system worked (how the money provided by new members was shared by the old members & the company people/organization) were publicly known, right from the beginning!
& yet, appearently pretty much nobody from the public/academia/government/media nor the business world realized that it was a scam, for years, until too late!