Kirit Somaiya, an Indian politician of the Bharatiya Janata Party, recently described Bitcoin as a Ponzi scheme and claimed that self-regulation is not permitted. However, the Indian government seemed to disagree with Somaiya’s claims and is looking to regulate Bitcoin.
The term “Ponzi scheme” is often used by conventional “economists” and politicians to describe Bitcoin. But, the utilization of the term to explain Bitcoin’s structure demonstrates a high level of incompetence and a significant lack of economic and financial knowledge.
Full story at http://bit.ly/2pDSDPR
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