"Cryptocurrency Is A Giant Multi-Level Marketing Scheme"

Published in Quartz on 2018-02-28, "Cryptocurrency Is A Giant Multi-Level Marketing Scheme" declared Bitcoin dead or fundamentally doomed. The piece characterised Bitcoin as a fraudulent scheme with no underlying value, arguing it would inevitably collapse once new buyers dried up. Bitcoin was trading at $10,310 at the time of publication. Bitcoin crashed more than 80% from its late 2017 peak, with critics pointing to the burst of the speculative bubble.