Re:The Bitcoin Investment Thesis Is Broken
by eldenwrong on Thursday May 26, 2022 @06:48AM
(#31516827)
Its literally not a pyramid scheme. You could call it a scam sure.
A pyramid scheme means that you use money from new investors to pay previous investors.
Thats not at all what happens with Bitcoin.
Bitcoin just trades like a commodity...
You can call it a bubble sure.
But its simply not a pyramid scheme
> A pyramid scheme means that you use money from new investors to pay previous investors.
That's a Ponzi scheme.
A pyramid scheme is when you have to pay to your superiors and recruit subordinates, in a way that the main way of recouping your investment is by bringing more subordinates, so that it's only profitable to those in the first few levels of the pyramid.
Re:The Bitcoin Investment Thesis Is Broken
by moron4hire on Friday May 27, 2022 @03:53PM
(#31534120)
A pyramid scheme is a distributed, decentralized Ponzi scheme
It is literally illegal in the US to advertise investments on TV yet there has been an absolute bombardment of marketing trying to get as many average joes as possible to buy crypto to goose the price. Enticing unsophisticated investors with a promise of massive rewards coupled with badgering FOMO is the exact MO of pyramid schemes.