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I don't believe there is any conceptual correlation between X being a pyramid scheme and the price of X fluctuating wildly. "Pyramid scheme" is an actual term w
by baddox 9y ago
I don't believe there is any conceptual correlation between X being a pyramid scheme and the price of X fluctuating wildly. "Pyramid scheme" is an actual term with a fairly widely-understood meaning. It doesn't just mean "any thing I don't like."
- overcast 9y agoA very small minority of people control the vast majority of Bitcoin, it goes from thousands to hundreds over a course of months. All from manipulation by that small minority.
- rvschuilenburg 9y agoThere's also a small minority of people that control the vast majority of USD. 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 or services. Bitcoin has no such thing.
- overcast 9y agoExcept the price of the USD isn't manipulated to such an extreme, only to encourage others to join in so they can be cashed out.
- test6554 9y agoIt represents a massive massive redistribution of wealth rather than a pyramid scheme. Not an even distribution, but a different distribution for sure.