Why Bitcoin is a Pyramid Scheme and How We Can Fix It

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Why Bitcoin is a Pyramid Scheme and How We Can Fix It



Let’s jump right in. The only way Bitcoin can survive is if the price continues to rise.

The network is secured by a consensus algorithm called Proof of Work. Security is a function of hash rate; hash rate is a function of market price.

Read More: https://medium.com/@microguy/why-bitcoin-is-a-pyramid-scheme-and-how-we-can-fix-it-8bf9497453c2