Bitcoin first made its appearance back in 2009 and was predominantly used by libertarians and members of the dark web to make illegal purchases without any paper trail.
Since late 2015, Bitcoins popularity has exploded due to an unprecedented growth, a growth which can be greatly attributed to the fact that Wall Street companies plan to bring their financial heft into the market.
Nowadays though, thanks to companies like ‘USI Tech’, you don’t have to be in the market for an ounce of crack-cocaine or an anti-aircraft machine gun, you just need a smart phone, a couple of hundred quid in savings and the ability to convince others that you aren’t a complete moron and that you understand the finer points of financial investments and the stock market.
These companies however, don’t like their business model being compared to that of a ‘Ponzi’ or ‘pyramid scheme’ but it doesn’t matter how you dress it up, whether you’re selling aloe vera gel to make you look 16 again, a magic concoction of exotic juices which will give you eternal life or a fictional currency which will make you a billionaire overnight, You still have to give someone money for nothing and convince your friends and family to do the same in the hope of making commission off the back of it.
Most sound financial investments don’t have attributed Facebook groups where members get virtual gratification from other members for selling their soul to the devil along with the respect of all their friends and family.
Members will be “congratulated” and “welcomed” to the group after being signed up by another member who is secretly rubbing their hands together at the prospect of all the commission they will make off the back of the ‘newbie‘.
There will also be a lot of virtual high-fives and pats on the back for members who have managed to get their Grandmother to invest her last £200 on a couple of ‘Packs’ which will see her make £50 profit over 300 days, by which time she will most likely be dead.
The ‘forever living’ comparison to Bitcoin comes from the observation of these groups. Work-shy middle-aged women who have failed at selling Avon or Juice plus have jumped all over this proverbial band wagon and will be actively promoting the opportunity whenever they can on their social media because lets face it, it’s not like they have a proper job.
Tread carefully though, If you decide to challenge their ideology surrounding Bitcoin or put forward a relative argument in opposition of Bitcoin, be prepared to have the full force of someone who thinks they’ve won the lottery, rain down upon you and accuse you of being a ‘hater’ or conspiracy theorist.
Bitcoin isn’t all bad though and in theory, it has the potential to revolutionize the way we see and use money and could ultimately decentralize the entire banking system! There are always two sides to any argument and nothing polarizes people at the moment like Bitcoin.
Like it or love it, Bitcoin is here to stay and should it succeed in delivering all of its wonderful promises, be prepared to see your local Mcdonalds staff and Juice plus reps, driving around in brand new BMWs and being more annoying than usual.