Is Bitcoin a pyramid scheme?
Being careful of being duped, a simple question to ask would be: Is Bitcoin a pyramid scheme?
The answer to the question you need to know what a pyramid scheme really is: it is a business model that impress members by promising them payment or rewards for registering others into it.
Bitcoin is not is pyramid scheme, as there is no reward and formally assured returns for buying BTC coins.Be careful of the people who claim otherwise. But, there have been lots of platforms that used Bitcoin in their scams, but that tells just nothing about the coin and technology be it cars, hoes, cell phones, guns, or other useful instrument. But coin is just another technology that they can comfortably use in their schemes After all, the US dollar is not a pyramid scheme, too, although it is often used in most of those.
See our articles on: Can you Buy a house with Bitcoin
How is Bitcoin not a pyramid scheme?
No, bitcoin is not a pyramid scheme. It is not formed by a sketchy company, pushing high pressure sales tactics. It is does not promote some inferior consumer good, with huge supply, where compensation is directly tied to recruiting new members to the scheme. Bitcoin is money and its supply is finitely scarce.
Is Bitcoin like pyramid selling?
Despite its successes, many expert still advise against putting your money into Bitcoin. It’s a pyramid scheme, LendingTree Chief Economist Tendayi Kapfidze tells Yahoo Finance. You can only make money based on people who enter after you.
Is crypto a pyramid scheme?
Lots of people have called cryptocurrencies frauds and ponzi schemes, which some of them most surely are, but the most well-established possibly aren’t. In fact, they don’t quite qualify as ponzi schemes since they hardly have a single originator running the show but they are pyramid schemes.
Can you get scammed on Bitcoin?
Though some may say that bitcoin itself is a scam, some of the top criminal bitcoin scams are malware, fake bitcoin exchanges and bitcoin ICO scams. Bitcoin the possible Pandora’s Box of the currency world has never been short of disagreement.
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