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What Name to Give to Cryptocurrency (Is Cryptocurrency a Pyramid Scheme)?

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What name to give to cryptocurrency? According to Coindesk, the mining difficul

What Name to Give to Cryptocurrency (Is Cryptocurrency a Pyramid Scheme)?

What name to give to cryptocurrency? According to Coindesk, the mining difficulty of Bitcoin increases by around 1 kilowatt-hour per terahash (unit: degree). In order to improve work efficiency and flexibility in economic models, the prices of cryptocurrencies have skyrocketed in the past few years, but most people believe that this surge is driven by speculation.

However, some blockchain companies do not operate this way. For example, Bitmain, the founder of Ethereum, Wu Jihan, is an early investor, while other companies adopt similar business models to websites like Btc.com. Because their products and services are created based on blockchain technology, they have also begun to try to provide users with a decentralized platform using blockchain technology.

As a result, many different mining projects have chosen to change their names to “mine” or “dai”.

Is Cryptocurrency a pyramid scheme?

According to Tencent Finance, recently, “mining coins” have been investigated and filed by the police in Shenzhen. It is introduced that “Bitcoin mining is an emerging pyramid scheme, just like other types of virtual currencies, it is a scam.” According to public information, the project has now developed into a scale of about 100 “physical mines,” involving an amount of up to 1 billion yuan (equivalent to about 10 million yuan), with main members being residents from Qianhai, Chengdu, Hainan, and other places, and their main participation is in the form of company-based funds.

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