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For a more credible source Kaushik Basu wrote in a 2014 World Bank working paper on Ponzi schemes: One of the most recent cases of bubbles occurred in the new ‘Bitcoin’ experiment. Bitcoin is a crypto currency, the main and original attraction of which is the low transactions cost associated with its use. One can buy Bitcoin the way one can buy euros ...


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Bitcoin is very apparently not a pyramid scheme. Bitcoin is a worldwide cryptocurrency and digital payment system[8]:3 called the first decentralized digital currency, as the system works without a central repository or single administrator. Bitcoin Wikipedia a digital asset[90] designed by its inventor, Satoshi Nakamoto, to work as a currency.[15]...


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Yes. There are exactly two ways. Bitcoin, or more specifically the blockchain, needs constant auditing by powerful computers which have power as well as cooling needs. If the government controls electricity, as China does, they can effectively choke out the bitcoin miners (auditors) in their country. If the number of miners goes down to the point where any ...


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