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No it doesn't resemble MLM more than superficially, because there's no hierarchy or levels of anything of that kind. At worst it is like another bubble in that
by Natanael_L 12y ago
No it doesn't resemble MLM more than superficially, because there's no hierarchy or levels of anything of that kind. At worst it is like another bubble in that manner, like tech stock bubbles before it.
- Cyther606 12y agoEveryone who holds Bitcoin has a vested interest in seeing the network gain value. Those who hold Bitcoin are incentivized to talk other people into holding it, which is very much in the spirit of network marketing. While there aren't "multiple levels", there are certainly early adopters who bought coins for next to nothing, and those people stand to profit much more substantially than those who come later. As for the difference between a tech stock and Bitcoin. Holding Bitcoin entitles you to nothing: no voting rights, no dividends. Bitcoin is backed purely by air. One more aspect of Bitcoin that bears an uncanny resemblance to MLM is the "cliqueness" of the network. There are superstar early evangelists, many of whom are popular for selling the libertarian dream to people, which they buy into. Of course, many of those people have XXX,XXX BTC to their name and thusly stand to profit from their talking points taking root.