Why is Bitcoin like the madness of Albanian pyramids?

You'll probably have heard of Bitcoin, the digital currency, which is the headline of many international economic media.

Established in 2009 as a payment system, it is the first currency to work without the need for an intervention by a central bank or an administrator.

Its value has increased significantly lately, as some say may be a bubble, which will explode.

Others call it a genius idea what they invented by a person named Satoshi Nakamoto.

But Edward Hadas writes to the Reuters agency that Bitcoin '%s' is a madness similar to that of pyramids in Albania.

In 1996, the Balkan state was included in investment funds. Actually, they were classic signs of Ponzi. They promised extravagant returns of up to 30 per cent per month. The increase was dramatic. Within a few months, these firms were able to absorb the equivalent of almost half of the gross domestic product. People sold homes and slaughtered livestock to raise funds to invest. Everything collapsed in 1997, creating popular rage. The new government, the weapons depots were stolen and fighting broke out. The IMF estimates that 2,000 people lost their lives. A new government was established and monetary regulation restored, but Albania's GDP fell 11 per cent and did not fully recover for five years”.

For the author, cryptomonedze buyers Bitcoin must be ashamed, since unlike Albanians, they are not poor and ignorant.

“With little effort, potential buyers of this coin can understand that it's a Pontzi scheme. Almost nobody sells anything and new buyers don't care about the” price. /Mapo/