Ok so Camp bx pays for referrals therefore bitcoin is a MLM... got ya.

 

Profits are not distributed, whoever finds solution first to the next block gets reward.  Bitcoin is and was never intended solely for mining. As Bitcoin grows and matures miners will be minority group performing a task of processing transactions and being rewarded for their effort.

I've edited my OP to more clearly illustrate the parallels.

No. Demand for Bitcoins sets  any real value to it. You don't have to inject real currencies to acquire them, you can sell products or provide service in exchange for bitcoins.

Don't really need an argument on. for this one, as it's obvious and should be apparent to anyone who's ever read:

http://en.wikipedia.org/wiki/Multi-level_marketing

From the wiki:


"Criticism has focused on their similarity to illegal pyramid schemes, price-fixing of products (BITCOIN BOTS, "EARLY ADOPTERS," EXCHANGE OPERATORS MANIPULATING MARKET PRICE), high initial start-up costs, emphasis on recruitment of lower-tiered salespeople over actual sales (RAMPANT SPECULATION VS. REAL ECONOMY), encouraging if not requiring salespeople to purchase and use the company's products (BITCOIN "ECONOMY"), potential exploitation of personal relationships which are used as new sales and recruiting targets (DITTO), complex and sometimes exaggerated compensation schemes (DITTO), and cult-like techniques which some groups use to enhance their members' enthusiasm and devotion (NEED I SAY MORE)."

AND:

"Independent, unsalaried salespeople of multi-level marketing, referred to as distributors (or associates, independent business owners, dealers, franchise owners, sales consultants, consultants, independent agents, BITCOIN MINERS, BITCOIN EVANGELISTS, etc.), represent the company (BITCOIN P2P NETWORK) that produces the products or provides the services they sell (ONLINE TRANSACTION PROCESSING, COMMODITY SPECULATION). They are awarded a commission based upon the volume of product sold through their own sales efforts as well as that of their downline organization (USD ENTERING THE MARKETS).

Independent distributors develop their organizations by either building an active customer base (BITCOIN EVANGELIZING), who buy direct from the company (BITCOIN EXCHANGE OPERATORS), or by recruiting a downline of independent distributors who also build a customer base (BITCOIN MINERS, BITCOIN MERCHANTS) thereby expanding the overall organization. Additionally, distributors can also earn a profit by retailing products they purchased from the company at wholesale price (EARLY ADOPTERS, BITCOIN MINERS)."

* at this very early stage.

Yeah but what gives the blocks any actual value?

Answer: New blood injecting real currencies into the markets.

lol. Seriously though a lot of your posts on this forum revolve around how you dislike everything. One would have to stretch quite a bit to find any "real" similarities between bitcoin and MLM. Sure the early adopters may appear to be an advantage but it isnt really much of one other than on paper. If I happened to be an early adopter I may have 50000 bitcoins but I do not have liquidity in those bitcoins. I cannot sell them all because the markets are too small and the value would plummet.

There are no residuals associated with bitcoins. MLM has this factor in just about every instance of it. There is no direct incentive to get "new blood" . I don't get paid when somebody new adopts bitcoin. Neither do the early adpoters. Although if you stretch enough I suppose you could argue that everybody gets some value when a new person adopts bitcoin. You cannot really cash in on that value though.

I believe that you are perhaps the ultimate forum troll or at least you are a legend in your own mind.