I don't know nearly enough to comment on the article but at this point I started to think Bitcoin is an abomination that will ultimately hurt everyone - not just the people who invested in it. I think Bitcoin is an abomination because after 9 years of idealistic search for meaningful use case it is almost evident there is none. Instead, Bitcoin becomes this no-face monster swallowing more and more speculative investments. "If something cannot go on forever, it will stop". Bitcoin investors know this and they all hope they will be the ones to withdraw before the bubble bursts and that their gains will be paid by the misfortune of those who are not as "smart" as them.

If pyramid scheme is all we want from cryptocurrencies, we could have done it without the invention of the blockchain.