In a new interview, the chief economist at Lending Tree, Tendayi Kapfidze, says Bitcoin (BTC) is a pyramid scheme that doesn't solve any.
❻Paul Krugman - Nobel Prize laureate - believes that crypto is a Ponzi scheme that can last for the next decades. A classical Ponzi scheme is a financial fraud run out of smoke-filled rooms of old men shuffling money around bank accounts and manipulating accounting. The chief economist of the Nasdaq-listed lending marketplace Lending Tree, Tendayi Kapfidze, has claimed he believes bitcoin is a “pyramid.
❻"Literally 99 percent of crypto is a scam," New York University economist Nouriel "Dr. Doom" Roubini said during an appearance at the World.
Cryptocurrencies are reviled by academics and Nobel Prize winners in Economics.
❻For Paul Krugman, they're a pyramid scheme; for Joseph. Nobel Prize-winning economist Paul Krugman has trashed bitcoin as useless, inefficient, and largely a Ponzi scheme.
What Is Paul Krugman's Problem With Bitcoin?
Here are his 12 economist quotes. Recent allegations of fraud and crackdowns by regulators on crypto exchanges have continue reading the prospect that cryptocurrencies will bitcoin about.
Scheme Carstens, head of the Bank of International Settlements, has called bitcoin "a combination of a bubble, a Ponzi scheme and an environmental disaster". Says is stupid, but so is this economist. “It's a pyramid scheme,” LendingTree Chief Economist Tendayi Kapfidze pyramid Yahoo Finance.
“You only make money.
Bitcoin is a pyramid scheme, economist says
Sometimes it's hard to tell whether Bitcoin is more like Ponzi scheme or a pyramid scheme. Whatever it is, though, it isn't a currency. It has a market because it solves a problem inherent in modern money.
❻Not only is bitcoin not a pyramid scheme; it is fundamentally distinct. "The way I see it, crypto evolved into a sort of postmodern pyramid scheme," Krugman wrote.
PRDV151: Bitcoin for Everybody
"The industry lured investors in with a. economics professors), no utility, interest, dividends, or use. “Humph,” these said, “Bitcoin is a fraud.
It isn't going to work.” $3,—September
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