A short transcript excerpt in which Speaker A discusses public perceptions of Bitcoin as risky or a scam. The speaker argues Bitcoin behaves differently from Ponzi schemes — noting Bitcoin has long cycles (the speaker says it is in its fourth cycle) while Ponzi schemes have a single run-up-and-crash pattern and do not exhibit cycles.
That. See, this is the problem that, that I deal with. And. Well, not that I deal with, but that people have said to me. Like, I said, I was on, on the call with my friend and she was like, I'm scared of the risk with bitcoin. Yeah, well, like, a lot of people see it as risk. Some people, till today are still saying it's a scam. And I literally said, well, it's a pretty long running scam. Like, do scams run this long? No. So this is what's really interesting. Ponzi schemes have a mathematical equation. It's not a power law mathematical equation. They actually have their own. Bitcoin is also into its fourth cycle. Ponzi's do not have cycles. They have a huge run up and then they crash.
