It's a pyramid scheme in a sense that you depend on others to keep buying the bitcoin. If everyone suddenly lost trust in bitcoin you would lose everything, because technically, it has zero real value.
That's why all the "bitcoin enthusiasts" keep hyping it up. They know that once the mania stops, people who didn't cash out will be left holding the bag.
Currently, it's nothing more than a speculative asset. You might as well invest in high-yield risky stocks.
That's why all the "bitcoin enthusiasts" keep hyping it up. They know that once the mania stops, people who didn't cash out will be left holding the bag.
Currently, it's nothing more than a speculative asset. You might as well invest in high-yield risky stocks.
The blockchain itself is pretty great though.