The opinion by Tendayi Kapfidze is not unique. However, it is also a bit dubious. Based on his first statement, all investment markets are pyramid schemes. Investors benefit from others buying the same investment vehicles that they do. This applies to any and all markets, and isn’t unique to bitcoin.
I disagree. He gave the standard generalized definition of a pyramid scheme, and I agree with his opinion to some extent. It is hard to argue that Bitcoin has not become somewhat of a pyramid scheme in the last few years.
Those people that claim that Bitcoin is a "store of value" and
not a "medium of exchange" are describing a pyramid scheme, because the stored value does not come from the utility of Bitcoin, but from the belief that new people will invest in it. People that promote Bitcoin as a way to make money because it is a "store of value" are promoting a pyramid scheme. Unfortunately, because Bitcoin currently has very little utility, that is how many people are now promoting it. It is not surprising that intelligent people think of Bitcoin as a pyramid scheme -- because that is how it is being promoted!
On the other hand, those of us who see Bitcoin as a "medium of exchange", or even a "store of value"
because it is a "medium of exchange", don't see Bitcoin as a pyramid scheme.
In order to convince people that Bitcoin is not a pyramid scheme, you must show them that it is primarily a medium of exchange. You must teach people that if they promote Bitcoin as primarily a "store of value", then they are promoting a pyramid scheme.