Bitcoin = Bubble, Ponzi Or What?

BUBBLE
At one moment, you are told that the price of a stone is $1. The next moment, you are told that it is $10,000!! Of course nothing about the stone has changed! No real 'value' has been added to the stone. If you buyed the stone at $1, we can think of it as 'depositing $1'. The next time you sell it at $10,000, we can think of it as 'withdrawing $10,000' and that 'you have earned an interest of $9,999! But the extra money does not come from some 'profit creating business'. It comes from the next buyer, which is equivalent to 'the new depositor'.

PONZI
You deposit $1 to someone with the hope that your money will earn lots of interest. Latter you are paid $10,000. But the extra money comes from another depositor.

So in effect, ponzis are exactly the same as bubbles!

Now running a ponzi scheme is a crime, and it is not too difficult to notice that it is conmanship. However, the conmanship in initiating a bubble is not as apparent, but as I will explain next, it can be just as a conmanship as a ponzi scheme. This may explain why the so called satoshi nakamoto opted to be anonymous. He didn't want to suffer the same fate as Madoff!

INTENTIONALLY CREATING A BUBBLE

1.) Collect millions of (valueless but reasonably rare) stones.
2.)Comming with one name, announce that you are willing to buy the stones (which you already have) even at $1 each. Then people will begine selling the stones to you. But eventually there will be shortage of the stones. Noticing this,
3.)Come, using another name, announce that you are selling the stones at $0.5 each! Then people will begine to see that it is profitable to buy the stones at $0.5 and then sell to you at $1. (Not knowing that you are the same same person who is buying and selling!). After some times, several buyers will come in who intends to buy the stone and sell it for some profit. Person A will sell it at $0.3 to person B, the B will sell it at $0.4 to C etc. In short, we can no longer tell who was the actual buyer of the stones. So many buyers have come in!
4.)finaly step in and sell the millions of stones you initially collected at at eve $0.1, and you become a milionair!!

But suddenly, there are now millions of useless stones in the market but no one is there to buy them any more!

Such might be what Satoshi did, and hence why he chose to he anonymous!

 

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