Brazilian Banker calls Bitcoin a pyramid scheme...
All I have to say to that is...Compounded daily interest loans and ATM Fees...
Story here...
https://www.coindesk.com/brazil-central-bank-chief-compares-bitcoin-pyramid-scheme/
All I have to say to that is...Compounded daily interest loans and ATM Fees...
Story here...
https://www.coindesk.com/brazil-central-bank-chief-compares-bitcoin-pyramid-scheme/
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STOPHe has a point there... It has started to feel herballife-ish with this latest bitcoin boom. But to say the underlying product has no real value is somewhat of a stretch, I guess we'll ride that bubble till it bursts.
Ya I would have agreed with him maybe like a year or two ago, but now entire governments, stock markets, millions of private users and major banking industries are having to acknowledge it as a 'thing' they need to get on board with or get run over by it. I think it will level off at some point to where we don't see 1500-2000 point jumps in a week. There will need to be services attached to the economy to make it viable I believe. (ATMs casinos, check cashing, etc.) Fortunately we are seeing those now. Even Bill Gates is working with Ripple which is a huge indicator it won't be collapsing anytime soon. People like that don't gamble on economies. I wonder what the value of bitcoin will be in 2020.