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Is Bitcoin a pyramid scheme?

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  • Is Bitcoin a pyramid scheme?

    A billionaire investor Howard Marks has recently stated that digital currencies are nothing but a pyramid scheme. He elaborated saying that the current success of digital currencies is based on nothing but willingness to ascribe value to something that actually has no value beyond what people will pay for it (cointelegraph).

    Those investing in a pyramid scheme get their returns from their own money or from subsequent investors’ money, instead of from profit made by the individuals running the business.

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