Your reply missed his point as bitcoin is 'mined' not just bought and sold. The difficulty of that mining is set based upon the computing power of the miners. Add to this the fact that the number of coins available to be mined each day is designed to be reduced over time, and you end up with early adopters (formost of which being the creators) controlling a massive proportion of the total worth of bitcoins.

Well, I guess that most startups are pyramid scams, since the founders (early adopters) end up controlling massive proportion of the total worth of the company.

If the startup founders create the company specifically to sell a worthless product to investors, then yeah, it's a scam.

Also Bitcoin is not a company, any more than US Dollar is.

Only if they say they aren't worthless. Which in this case they don't.

How is BitCoin worthless? It's a tool that can be used for a variety of things.

Is that much better than printing money and distributing the new money to major banks? That is what the US government is doing now. Most countries do a combination of distributing newly printed money to domestic banks and the government itself.

You know that they don't just give the money away to banks, right? It's loaned. They have an obligation to repay it.

Fine, money is loaned to a bank, and they have an obligation to repay the loan. With what does said bank repay the loan? Money, of course. Where does that money come from? Ultimately: other loans.

"It's loans all the way down..."

Thanks for that. I needed a good laugh today. :-)

"It's not a scam since there is the same information to everyone."

does this really make something not a scam? As far as i've seen, most people do have access to the information needed to prove something a scam. It doesns't mean they will both find it, and believe it.

In any scam, the scammer promises profits which (s)he knows are a lie. No such thing happens here.

A lottery isn't a scam, even though only a few actually get money out of it. It's just gambling, and so it Bitcoin.