again you say "commodity"
a commodity is a raw material used to create other products
oil=fuel/plastic, beef=burgers/steak, wheat=bread/cereal
gold is yes a commodity but its also an asset. gold sits on 2 markets.
dont confuse golds mining/currency reserve/investment (asset class) with its jewellery/electronics(commodity class)
bitcoin fits similarly to golds asset definition.. but bitcoin no way fits into golds commodity definition
Well its satoshi who said its like a commodity for many reasons, he must know something about it, he made it no ?
as for saying its a pyramid scheme(facepalm) well your listening to the wrong 2 people. whichever one calls it a pyramid scheme. stop listening. and instead learn:
no one gets recurring income from the sell of bitcoin.
there is no bunch of investors all depositing into a central pot that paying out monthly interest/dividends
there is no 'team' of downstream or upstream lineage of investors getting paid by a downstream seller
its not like when someone sells coin. he then has to pay 10% to his supervisor, and 8% to their supervisor
who ever owns the coin and sells the coin keeps the funds for the sell. there is no pyramid 'sharing' of revenue structure in bitcoin.
Yeah you are right its what is called a pyramid scheme, but what meant is more like greater fool scheme, where the same things is sold over and over again at higher price each time someone being ripped off a bit more.
early adopters/hoarders (not selling) have no impact on the price because they are not the ones making offers.
bitcoins price is only from those selling at the price they want to sell at and only they get the income of that sale
If its a one time thing ok, then if everyone is only buying it to hoard it and only wait for the best time to buy / sell all the time waiting for some hype campaign to make insane profits of course its going to have an impact on the price. And it can only ends in constant price rouler coaster, while people start to hoard then play greater fool scheme 2, 3 , 4 ,5 times until the price crash and here we go again, its the same loop for 10 years.