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Bitcoin seems to be in another bubble, so I'm going to wade back into this insane discussion. I agree that we're in a potential bubble, but bitcoin was never e
by kiba 14y ago
Bitcoin seems to be in another bubble, so I'm going to wade back into this insane discussion.
I agree that we're in a potential bubble, but bitcoin was never ever a pyramid scheme. Bitcoin is a fully transparent cryptocurrency system and investors were never promised anything.
- wmf 14y agoThe fixed number of BTC is effectively a "promise" that the value of your holdings will increase if you recruit new people into the Bitcoin ecosystem.
- mattm 14y agoSo you would say company stock is a pyramid scheme as well? There is usually a set amount and it benefits you to recruit others to buy the stock.
- wmf 14y agoCompanies ought to have fundamental value (although one may be skeptical if a company has no plans to give investors access to that value via dividends or acquisition) but Bitcoin doesn't. Also, I think of Bitcoin as more of a bubble machine than a pyramid scheme.
- daniel-cussen 14y agoThe number of BTC is not fixed.
- pyre 14y agoThe maximum number of BTC is fixed.