Is Bitcoin a pyramid scheme? | Politics.ie

Lending Tree Chier Economist, Tendayi Kapfidze recently commented on Bitcoin, calling it a pyramid scheme, so here is why his view may be wrong. Over the course of the last 11 years, Bitcoin has traveled a long way for an unknown new invention to the largest cryptocurrency in the world, with a market cap of $130 billion. Tendayi Kapfidze, chief economist at Nasdaq-listed online lending marketplace Lending Tree, has said that bitcoin is a “pyramid scheme.” “You only make money based on people who enter after Bitcoin Pyramid. I gave many opportunites but his only response was: "you are a d**k". Report Attachments: This report was posted on Ripoff Report on 10/04/2020 12:38 AM and is a permanent record located here: Bitcoin has its flaws but some of them (computability and a technologically optimised approach to generating the currency) appeared when it went mainstream. It isn't a pyramid scheme in that it is being used as a digital currency and is convertable to ordinary currency. The ancient Egyptians made pyramids to last forever. Wall Street’s pyramid schemes aren’t nearly as durable. Bitcoin, while not officially a product of traditional Wall Street, is a pyramid

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