Thursday, March 4, 2021

Bitcoin is a Pyramid Scheme that uses Pump and Dumps for marketing.

Bitcoin wouldn't have had half of the psychological virulence it has if it didn't combine two winning "get rich quick" formulas together. If you bought at $1,000 in 2013 and it went in a straight line to $3500 in 2019, nobody would care. Just being a pyramid scheme alone isn't enough and is too boring. But because it dumped to $200 and shot up to $20,000, it attracts millions of people. The halving pump and dump is the marketing event that serves the dual purpose of drawing in noobs and letting veterans dump their bags.


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