Ponzi scheme and pyramid scheme concerns

A mixture of journalists, economists, and the inner cash in of Estonia have expressed concerns that bitcoin is a Ponzi scheme. In 2013, Eric Posner, a act professor at the academia of Chicago, confirmed that "a absolutely Ponzi schematic takes fraud; bitcoin, by contrast, seems additional like a collective delusion." A 2014 commentary by the World Bank concluded that bitcoin was not a premeditated Ponzi scheme. The Swiss Federal commission examined the concerns that bitcoin power be a pyramid scheme; it concluded that "Since in the assignment of bitcoin the characteristic promises of profits are lacking, it cannot be implicit that bitcoin is a pyramid scheme." In July 2017, billionaire Howard Marks referred to bitcoin as a pyramid scheme.

On 12 September 2017, Jamie Dimon, business leader of JP Morgan Chase, called bitcoin a "fraud" and alleged he would shoot a person in his strong immovable trading it. Zero Hedge claimed that the equal day Dimon completed his statement, JP Morgan additionally purchased a obese quantity of bitcoins for its clients. In a January 2018 interview Dimon spoken regrets about his at an earlier time remarks, and supposed "The blockchain is real. You preserve cover crypto dollars in urge and things like that. ICOs ... you got to appear at every one individually.

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To be continued...