23 November 2012 UTC That s still worded in a way that tries to both state and dismiss in the same sentence as before The ECB report says quite a few things and I don t think selectively quoting it is the best way to do that We could just as easily use that source to say Bitcoin has been accused of being a Ponzi scheme and an analysis by the ECB states that while Bitcoin does not promise high returns an aspect often associated with a Ponzi scheme it is a high risk system and that it could collapse if people try to get out of the system and will not be able to do so because of its illiquidity The report goes on to conclude that the fact that the founder of Bitcoin uses a pseudonym Satoshi Nakamoto and is surrounded by mystery does nothing to help promote transparency and credibility in the scheme The ECB report quotes the SEC s definition of a Ponzi scheme In that definition Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk emphasis added It does not say that high returns is a defining aspect of a Ponzi scheme but that it is often associated with it It does not suggest that something not promising high returns means it does not fit the definition of a Ponzi scheme so it s synthesis to use the ECB s report but instead of using the definition that the ECB defined using this website s definition to conclude something that the report isn t saying s Away Account 21 59