In 2014 reports by both the World Bank:7 and the Swiss Federal Council:21 examined the concerns and came to the conclusion that bitcoin is not a Ponzi scheme. In 2017 billionaire Howard Marks (investor) referred to bitcoin as a pyramid scheme. кошелек tether To understand the impact of Bitcoin, we return to Coase, and his theory that firms exist to reduce the transaction costs of specialists who collaborate in business.

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