I still dont get why the call BTC a ponzi or a pyramid scheme. If it was a pyramid you would need to "recruit" your friends, or things like that. And a ponzi scheme will see BTC paying dividends or returns to initial investors. The lack of knowledge is the biggest enemy, they blindly follow media and dont do their own research. I really like blockchain technology and what can bring to financial securities. As a real use, I use it all the time to send money to my country without high fees (even higher than BTC miners fees)
In a sense it is a pyramid scheme and there's nothing wrong with that.
Ask new investors the following.
- Did you buy Bitcoin to use it as a payment system?
- Did you buy Bitcoin to profit from the crazy price increase?
People talking about Bitcoin makes others want in on the deal. This is how a conman gets people on board.
But then again this "pyramid scheme" brings a valid technology to the table (Blockchain).
This will ensure the bubble won't pop but wither down into a stable state.
Once things settle down Bitcoin will be a stable currency used to buy stuff.
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