[xqyf]

Do you mean "pyramid scheme" specifically or just "scheme"? A pyramid scheme recruits members for enrolling others into the scheme, and not in an abstract sense. Bitcoin is decentralized and there's no way to enroll in it, no one to enroll people.

[zepto]

> Bitcoin is decentralized and there's no way to enroll in it,

Buying Bitcoin is how you enroll.

> no one to enroll people.

This is laughable. Everyone who owns Bitcoin is incentivized to get other people to buy Bitcoin.

[xqyf]

> not in an abstract sense

...and everyone that owns (is "enrolled" in) AAPL is "incentivized to get other people to buy" Apple products. So Apple is a "pyramid scheme" right?

"Pyramid scheme" is a real thing with a real meaning. Someone posting "BTC to the moon!" on Twitter does not make BTC a pyramid scheme. Typically people are describing market manipulation, and they just don't know what a pyramid scheme is (your post).

[zepto]

> ..and everyone that owns (is "enrolled" in) AAPL is "incentivized to get other people to buy" Apple products. So Apple is a "pyramid scheme" right?

Yes, to a mild extent and indeed they do, but for the most part Apple itself does this work, so the owners don’t have much extent.

With Bitcoin there is nothing other than the owners, and there is no product.

> "Pyramid scheme" is a real thing with a real meaning. Someone posting "BTC to the moon!" on Twitter does not make BTC a pyramid scheme.

No, it’s a symptom of the fact it is structurally a pyramid scheme.

> they just don't know what a pyramid scheme is (your post)

Or they do, and they can see that in the context of decentralization, Bitcoin in fact is one.

The no true Scotsman fallacy doesn’t work here.

[xqyf]

> yes, to a mild extent and indeed they do

Thank you for agreeing. So your definition is so bad Apple qualifies as a pyramid scheme under it. That makes it appear that you have no idea what a pyramid scheme is.

> so the owners don’t have much extent

...but "to a mild extent" they do, so your definition calls this a pyramid scheme. The no true Scotsman fallacy doesn’t work here.

> [BTC] is structurally a pyramid scheme

The decentralized blockchain? You haven't posted a specific reason to say this that isn't abstract, despite two desperate tries. There are no recruiters, there's no one actively distributing funds for getting new recruits.

Just curious, do you know the difference between market manipulation and pyramid schemes? Pyramid schemes and Ponzi schemes? Pyramid schemes and other MLM schemes?

Or you just use them all interchangeably because you have no idea what they mean?

[zepto]

> Thank you for agreeing. So your definition is so bad Apple qualifies as a pyramid scheme under it. That makes it appear that you have no idea what a pyramid scheme is.

If you weren’t misrepresenting me, you’d be able to quote where I agreed AAPL qualified as a pyramid scheme.

I understand that what people think of Bitcoin is of great importance to you, but it’s easier to discuss this if you stay away from ad hominem and misrepresentation.

[xqyf]

> you’d be able to quote where I agreed AAPL qualified as a pyramid scheme.

Sure thing, here ya go (it's right there if you scroll up):

> > So Apple is a "pyramid scheme" right?

> Yes, to a mild extent

...you qualify it with "the owners don’t have much extent" unfortunately the no true Scotsman fallacy doesn’t work here.

> I understand that what people think of Bitcoin is of great importance to you

Sure isn't. Weird shift to a personal attack, but what else do you have left after failing so badly?

It’s easier to discuss this if you stay away from ad hominem.

[knorker]

That's exactly what bitcoin is.

Every HODLer spends half their time virtually knocking on doors trying to make you the greater fool, by buying into bitcoin.

These big conferences and coiners on HN are constantly doing PR to make more people buy into bitcoin, to make their stash grow in value. And this speculation and pumping the only reason to do it, because it's a failure as a currency.