Bitcoin is not a pyramid scheme because nobody controls bitcoin.
FIAT is closer to a pyramid scheme than bitcoin. Do I like bitcoin? No, I prefer monero when it comes to crypto transactions because it actually serves a purpose, but it is the truth.
It basically is. Crypto itself has no inherit worth. You don’t actually own anything. It is purely speculative. If the value of crypto collapses today, there is nobody who will ever recoup any value.
Let’s contrast that with the stock market. Are a lot of people screwed as well? Yes. But the business has physical assets that can be sold or auctioned off to recoup something
Capitalism. Socialism would allocate energy and eliminate BTC mining. Social Democrats would give people energy allowance for home use and increase the price by taking it. Pure capitalists say it’s good.
all of your downvotes - many more than the person you’re replying to - are for trying to claim that a system that’s functioned as a pyramid scheme for most of its existence is not a pyramid scheme.
There is absolutely no reason why anyone should be allowed to waste energy on that pyramid scheme shit in the first place.
Bitcoin is not a pyramid scheme because nobody controls bitcoin.
FIAT is closer to a pyramid scheme than bitcoin. Do I like bitcoin? No, I prefer monero when it comes to crypto transactions because it actually serves a purpose, but it is the truth.
It basically is. Crypto itself has no inherit worth. You don’t actually own anything. It is purely speculative. If the value of crypto collapses today, there is nobody who will ever recoup any value.
Let’s contrast that with the stock market. Are a lot of people screwed as well? Yes. But the business has physical assets that can be sold or auctioned off to recoup something
Capitalism. Socialism would allocate energy and eliminate BTC mining. Social Democrats would give people energy allowance for home use and increase the price by taking it. Pure capitalists say it’s good.
All your downvotes are for using the words pyramid scheme. It’s a lot of not great things, for sure, but it’s not a pyramid scheme.
all of your downvotes - many more than the person you’re replying to - are for trying to claim that a system that’s functioned as a pyramid scheme for most of its existence is not a pyramid scheme.
how much cryptocurrency do you have?
Care to explain how BTC, a currency with no one controlling it, is a pyramid scheme?
Who benefits from it besides huge miners? All they get is transaction fees paid to them for supporting the network. That’s not a pyramid scheme.