By Monty Sloan, houstonianonline.com
When I first wrote about Bitcoin, The Houstonian received a nice letter calling me an idiot.
Now, I have to admit some days that’s a pretty accurate depiction of me, but when it comes to the famous internet “currency” I’d say if anything, I was too easy on the people that have dived into the digital pyramid scheme.
And that’s exactly what Bitcoin is – a pyramid scheme.
You see, last time I wrote on the subject I mentioned the few token Bitcoin “millionaires” that have become the messiah figures for Bitcoin investors. What I unfortunately failed to mention is that all of their millions are out of their reach.
Even if there were a Bitcoin exchange with enough money to cash out a fraction of these people’s digital coin hoard, which there isn’t, a single exchange of that magnitude would cause the already pathetic value of Bitcoin to plummet to worthlessness.
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