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Yeah I think there's a fine line between a new age business model and a pyramid scheme. This is the same reason why a lot of people criticize the Bitcoin ecosys
by cocktailpeanuts 10y ago
Yeah I think there's a fine line between a new age business model and a pyramid scheme. This is the same reason why a lot of people criticize the Bitcoin ecosystem, people have monetary incentive to bring others into the ecosystem. This is different from BitTorrent, another successful decentralized model, where nobody has monetary interest to bring another in, yet it's still viral since each user gets immediate value out of using it.
That's why I am dubious about this logic because there needs to be a clear relative up-front value compared to other alternatives (not some religious belief), yet the intrinsic barrier to usage baked into the model makes it inferior to its centralized alternatives.