Twitter users called the project a 'pyramid scheme'
The Bitcoin Academy itself seems to have quite a bit in common with this latter project. Thepromises that its classes will “empower the community with knowledge, and get rid of some of the barriers so that residents can learn more about Bitcoin specifically and finance in general.” The only named instructors are two bitcoin influencers, Lamar Wilson and Najah J.
While offering free classes on financial literacy would be uncontroversial, the academy’s focus on bitcoin has drawn heavy criticism. The world of cryptocurrency is littered with financial scams, hacks, and fraud, where unsuspecting investors are encouraged to buy in to various coins with promises of fast returns, only to find the rug pulled from underneath them and their savings destroyed. Responding to theof the academy on Twitter, many users accordingly labelled the project a “pyramid scheme.
The world of cryptocurrency has always used the promise of financial freedom as part of its appeal. And indeed, by some measures, it offers fewer barriers to entry than the traditional banking system.
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