Financial Times Writer Calls Bitcoin A "Pyramid Scheme"

Dan McCrum was only mostly wrong in his factual assertions about Bitcoin recently. It was a bit sad to see someone demonstrate such little actual understanding, but deliver such an offensive opinion about Bitcoin. To his credit, McCrum did interview at least one mining pool operator for his article, but nevertheless managed to even get that person consider the idea that Bitcoin is a pyramid scheme. This idea has been debunked for so many years that it’s irrelevant. But here we are: Bobby Lee, head of BTCC, the largest bitcoin exchange in China, argues its use for everyday transactions makes […]

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