Post
Topic
Board Bitcoin Discussion
Re: Interesting graph: The payoff of early investment: Stocks IPO vs BTC
by
squatter
on 13/12/2019, 22:59:40 UTC
Bitcoin is a pyramid scheme. I get it, some people understand it and they are OK with scamming from BTC. But those who do not understand it... are in real danger of losing tehir hard-earned money.

According to Wikipedia:

Quote
A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products.

I was never promised payments for recruiting other Bitcoin investors. Were you?

You could argue the Bitcoin market operates by the greater fool theory -- people invest because of an irrational expectation that prices will always rise, not because of intrinsic or fundamental value.

That's about it, though. Anyone claiming that Bitcoin is a Ponzi or pyramid scheme doesn't understand how those work.