Cryptocoins are a pyramid scheme today. Cryptocurrency is an idea that could change the world, for the better.

<p>I discuss banking, means of exchange, third world poverty, greed and avarice. Change and technology. Old ideas and new. &nbsp;<br> <br> This episode was inspired by a question: "Is bitcoin a ponzi or pyramid scheme?"<br> My answer:</p> <p>"Yes it is. As it stands. Cryto is a means of exchange - not a &nbsp;speculation vehicle or an investment. As an ex-banker I saw great potential. The number of clients I had sending money overseas, and the costs they paid were near criminal. Then as a banker - I also know what I &nbsp;would have done to disrupt a technology that might replace my own industry? At minimum it would risk profits. I would create instability &nbsp;in &nbsp;the market. Thus negating the tool of exchange - and minimizing the &nbsp;risk to my own hegemony. All while profiting on both sides. The help &nbsp;intended: still charging as much as 30% to send funds to a third world country. Trillions being stolen from hard working honest people."<br> </p>