Topic: Bitcoin - a financial pyramid: true or myth? (Read 591 times)

I use to take the look about the bitcoin is revolution of financial service and payment tool. After digital emergence banking corporates really fooling us worst in part with the consumer fee, merchandise fee and etc.

Cryptos are really will not allow others to earn money with your money. You can pay the amount to the other end with the direct deal of the wallet but financial institutions will not allow that to happen.

If we talk about crypto-currencies in general, it will be more correct to immediately split bitcoin and all other crypto-currencies, the so-called altcoyins.

So, it can not be denied that many ICOs today are forms of financial pyramids.

However, this does not mean that absolutely all alternative crypto-currencies are a fraud. Some altcoyins have a very clear and transparent pricing model. And in fact today, in my opinion, such crypto-currencies as Ether, Dash, Ripple, Litecoin, NEM, Monero and others really create value, and their price is due not only to pure speculation.

As for bitcoin, the fantastic increase in its value in recent times, of course, does not cease to excite the minds of critics, but in reality it's quite simple with him.

The first and most obvious difference between bitcoin and the financial pyramid is that there is no central beneficiary. Theoretically, of course, there are very old wallets with a very large number of bitcoins, which in some sense can be considered such a beneficiary. However, there was no official central beneficiary, and without its presence the pyramid does not make sense.

The second important difference is in bitcoin with the growth of the user base and with the growth of downloaded money, the value grows, because in any economic system this value is directly related to the number of participants in this system. Moreover, given the fact that the volume of the economy is always proportional to the square of the number of participants, and not to the number itself, the value of bitcoin grows much faster than the user base grows, and it is not necessary to talk about inflating a bubble.

And, at last, one more factor is that at bitcoin there are no obligations to anyone. That is, bitcoin never promised anything to anyone, so bitcoin as a pyramid, in general, can not collapse. Bitcoin is only a financial protocol for making, validating and storing information about transactions among network members. The bitcoin code is publicly available, each participant can explore the logic of the entire network, and some participants can not just grab the bitcoins of other participants.

Given all of the above, I can conclude that bitcoin does not fall under the definition of the financial pyramid.

What do u think about what do you think about my thoughts? Do u agree that bitcoin is not a financial pyramid?

Unfortunately, the time to start convincing people as to whether its a pyramid or not is over. No matter his much some people have been preached to about religion or God, they still hold the view strongly that its a myth and exist in the figment of those believers imagination. Whether that is true or not does not matter to them. The point of this is that, whatever you believe to be true remains true and whatever you chose to believe as myth would remain so, for every argument to prove otherwise, you come with a counter argument to maintain your position. Its that simple.

Let's stop trying to convince frantically and start moving towards adoption to the vast majority of people who have not heard about it as they are easily convinced than those who have taken a stand already. In a matter of years, the "unbelievers" of would be so small that their opinion won't matter any longer.

You can call every investment a financial pyramid.  Is Amazon a pyramid? Is Apple a pyramid? You could of bought the stock at the very beginning and 100x your investment.  Any good investment goes up overtime, it doesn't mean your stupid for investing at a higher price if it has a proven record.  The first investors take the highest risk so the should be rewarded the most.