pyramid scheme
We have been over this. No. It does not fit the definition.
A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme.
Sounds like bitcoin to me. But opinions may differ the link in my post above goes to the huge argument about about bitcoin being a pyramid or not. Not interested in arguing the point.
Still no. You are wrong. Bitcoin is a limited resource, which is what drives the price up. It's not a matter of opinion. It's exactly as much a pyramid scheme as gold. Which is to say, you are wrong.
BTC is not a scam in itself but it is definitely used as a pyramid scheme , limited number of coins means nothing , i can make a coin now with just 1000 coins does that mean i will sell each after few years of marketing for millions ? no , there are maybe 0.5 million LLLL.com domains and most of them sells for low $xx to low $xxx , some goes for much more yes but most can be bought cheap .
You answered your own question. The value of BTC relies more on how well people accept it. So in the beginning it worths only $0.001, and it worths much more when more and more people accept it now. The value of BTC now lies on all the miners, investors, traders, exchanges, public exposures, .... You can of course clone a coin easily, and many others have done it and are still doing it. However, without enough innovations, do you think your coin will receive the similar amount of supports from the community?
