Why do some financial experts still call Bitcoin a pyramid scheme?

[marrcelo]

Some financial experts still say bitcoin is a pyramid without really studying it deeply. if they actually spent time learning how bitcoin works they would with certainty realize that bitcoin is not a pyramid scheme
sometimes it feels like they say these things just to get attention because talking bad about bitcoin creates hype very fast. maybe some of them also dislike seeing normal people making money with bitcoin and crypto while the traditional system becomes less trusted
anyone who studies bitcoin without bias will certainly reach the conclusion that it has nothing to do with a pyramid.

[Charles-Tim]

Are you sure the person is a financial expert or a critic or someone that does not know what he is saying? I am not asking you a question.

[Odohu]

Those calling Bitcoin pyramid scheme are not financial experts because if they were, they would have known that Bitcoin have assume its place as money and no one can deny that at this point.  There will always be Bitcoin critics irrespective of any progress made by Bitcoin. Their opinion shouldn't bother you, just concentrate on getting your hands on as many Bitcoins as you can amd hold.

This topic does not belong to Meta board, you should consider moving it to Bitcoin discussion,  the first board in the home page.

[Hyphen(-)]

From my research and understanding, pyramid schemes are similar to Ponzi schemes which I think is nothing close to Bitcoin investment pattern or so. Therefore, that person you might have been looking up to is not a financial expert, because a financial experts that knows how Bitcoin work will want to invest in Bitcoin because it is sustainable investment that gives us financial freedom.

[Yamane_Keto]

"You can't teach an old dog new tricks"

When you ask them, the reason is limited to the following:

it lacks intrinsic value
relies on new buyers to increase the value of those who bought before (the initial investors), thus resembling a pyramid scheme.
those experts to believe Bitcoin is a scam because it's not issued by governments or central banks.

[Cookdata]

i still think Bitcoin goes to zero by 2035 and i’m ready to bet on it. i’ll hold till 2029 then sell everything, market feels overhyped to me.

Are you not part of the crytics? https://bitlist.co/post/66679572

We confused financial experts and some random non crypto influencers. No serious financial expert will open their mouth and say Bitcoin is a pyramid scheme, there is no evidence to back up such claim, there was never a time Bitcoin looks like a ponzi scheme. However, one random person with followers that feels he is important will think Bitcoin isn't the best for him and will spread useless idea and the followers will think he is a financial expert.

If you say Bitcoin is a ponzi scheme then you don't understand how pyramid scheme works. This is not even close to how ponzi scheme works. Bitcoin is a digital asset, like the traditional asset the government control but better and decentralized but people are free to believe nonsense they want to on the internet. Some people has listened to bad advice and watch Bitcoin move from what they can afford to buy to what they can't afford anymore, and this is still early.

[tiCeR]

i still think Bitcoin goes to zero by 2035 and i’m ready to bet on it. i’ll hold till 2029 then sell everything, market feels overhyped to me.

Are you not part of the crytics? https://bitlist.co/post/66679572

Good catch, well done!

We confused financial experts and some random non crypto influencers. No serious financial expert will open their mouth and say Bitcoin is a pyramid scheme, there is no evidence to back up such claim, there was never a time Bitcoin looks like a ponzi scheme. However, one random person with followers that feels he is important will think Bitcoin isn't the best for him and will spread useless idea and the followers will think he is a financial expert.

If you say Bitcoin is a ponzi scheme then you don't understand how pyramid scheme works. This is not even close to how ponzi scheme works. Bitcoin is a digital asset, like the traditional asset the government control but better and decentralized but people are free to believe nonsense they want to on the internet. Some people has listened to bad advice and watch Bitcoin move from what they can afford to buy to what they can't afford anymore, and this is still early.

I think there are financial experts that call bitcoin a pyramid scheme and the main reason is they follow an agenda that is not in line with this revolution and actually at threat because of bitcoin. Before it gets philosophical, guys like Buffett clearly have an expertise in finance and as far as I know he still says bitcoin is crap. Whether he really, really thinks it, I don't know, but his whole business is founded on a different approach. I think he had an idea that bitcoin will play a role in the world for a good reason, but he had incentives to keep investors on board.

Bitcoin is so multidisciplinary that being a financial expert alone doesn't necessarily allow you to understand and explain it very well.

[Cryptomultiplier]

Some financial experts still say bitcoin is a pyramid without really studying it deeply. if they actually spent time learning how bitcoin works they would with certainty realize that bitcoin is not a pyramid scheme
sometimes it feels like they say these things just to get attention because talking bad about bitcoin creates hype very fast. maybe some of them also dislike seeing normal people making money with bitcoin and crypto while the traditional system becomes less trusted
anyone who studies bitcoin without bias will certainly reach the conclusion that it has nothing to do with a pyramid.

You are right in the final conclusion because there's a clear distinction between a pyramid scheme and Bitcoin investment.

While Bitcoin is a breakthrough in monetary economics that involves the decentralized systems on an Internet enabled device, pyramid scheme is more of a financial chain network that requires a central entity in charge, hierarchy recruitment and needs much reliance on funds moving from new members to older members.
Bitcoin is simply open source, has no CEO or central head chairman, no marketing department or stunts to make it a success as it is today and no backroom deals.

Bitcoin by structure and design is very different from a pyramid scheme and no one should tell you otherwise, hence the importance of personal research to be correct and accurate before jumping into any investment.

[EluguHcman]

Are you sure the person is a financial expert or a critic or someone that does not know what he is saying? I am not asking you a question.

And I believe is a real life experience that there are people with high levels of economy and and financial knowledges who still believe in Bitcoin and instead they should focus in the traditional sectors of their professions, they would want to showcase how relevance they are in all sectors of an economy system.

But I trust that is usually turns out to be disgraceful of them that after they have criticized Bitcoin out of their lack of knowledge to the financial system, some of them later turns back to adopt the Bitcoin and even becomes Bitcoin pro after criticising Bitcoin and one of the trolls we had then in the industry from the highly authorities was Donald Trump the US President, but later on be turns a pro.

So it is really worth questionable if those in claim of being economy and financial analysts really have the quality of being an expert as positioned because they talk trash they don't know about the Bitcoin infrastructures.

[DiMarxist]

Well everybody in life chooses what they will believe,in and you should not be mad over anyone who calls himself a financial expert or even financial adviser calling Bitcoin a ponzi scheme. What you have to know is that not everyone can accept and believe in Bitcoin. There are actually people who are big time Bitcoin critics so they use any available means to talk bad and underplay the role and success that Bitcoin has been able to achieve.

[Finestream]

If they don't like the idea behind bitcoin, they will always criticize it the way they want it. So its useless to defend bitcoin to these kind of people because they will never see the essence of bitcoin simply because their minds are only limited to their belief that bitcoin is a big ponzi scheme. And they will stick to it no matter what, so its best to ignore them and leave them with their own way of thinking.

Bitcoin cannot please everyone. There are some financial experts who have shifted into bitcoin because they develop trust into it, and there are those who remain pessimistic about the idea of having bitcoin.

[Nwada001]

Are you sure the person is a financial expert or a critic or someone that does not know what he is saying? I am not asking you a question.

Maybe the op might be referring to the likes of Peter Schiff and his racist tweets and statements on X at the same time, claiming to be an economist and a financial expert. He's someone whose hate speech for Bitcoin should no longer be creating a scene because it's obvious he has chosen a life as a content creator; he needs to be feeding his audience.

[Charles-Tim]

Maybe the op might be referring to the likes of Peter Schiff and his racist tweets and statements on X at the same time, claiming to be an economist and a financial expert. He's someone whose hate speech for Bitcoin should no longer be creating a scene because it's obvious he has chosen a life as a content creator; he needs to be feeding his audience.

Yes, Peter Schiff has called bitcoin a ponzi scheme and a pyramidal scheme before and not just one time. Also he has said bitcoin price is coin to zero before, but bitcoin has not gotten to zero. He also said bitcoin will not get to $100000, but he admitted that he is wrong when bitcoin got to $100000. Just like I posted that the person will be a critic. Peter Schiff is a bitcoin critic that only use bitcoin to advertise his business.

[Russlenat]

Maybe what you're trying to say are only those self-proclaimed financial experts, not those professional and certified financial experts in the market. What do you expect from these kind of people as they don't discuss things based on facts but only from their own view point and bias personal assessment about bitcoin. They just hate the fact that bitcoin has reached unlimited success today that's why they are barking out there and make a noise by spreading out lies.

And if they claim that bitcoin is a pyramid scheme, so what? We already know the truth about bitcoin.

[boyptc]

Some financial experts still say bitcoin is a pyramid without really studying it deeply.

If they have studied it deeply, they have already a conclusion why Bitcoin is the greatest asset of all time.

They can easily go to Michael Saylor and ask him why his Microstrategy is investing into a pyramid scheme with billions of money.

I doubt that they have studied deeply because it's all easy to figure out why Bitcoin isn't a pyramid scheme.

[freedomgo]

They often call bitcoin as a pyramid scheme because it shows zero cash flow, lacks intrinsic value, extreme volatility and shows market manipulation, and that's based on my research. But if we will analyze it deeply, if bitcoin is a pyramid scheme, we wouldn't see huge numbers of successful investors that are into bitcoin, and have put their faith into bitcoin while the whole world is criticizing it.

Otherwise, this is just a word coming from an unreliable source, from a fake financial expert that only hypes bitcoin for his own self-interest and personal gains.

[joniboini]

Asking this question is a waste of time, assuming you're serious to begin with. They're free to think whatever they wanted, and we're free to debate and argues against them. Instead of asking why they still keep doing that, it's better to spent that energy making something productive like an educational thread or website if you know some coding. While they have a huge reach, people who want to learn instead of repeating some random Twitter users will eventually browse and scroll around this forum or somewhere else.