Satoshi Citadel Industries (SCI) co-founder and CEO John Bailon in an interview with DEALSTREETASIA has opened up on issues that the Bitcoin community is seeking answers to, of late.
Speaking at length on several issues, he said that those claiming Bitcoin to be a pyramid scheme or a get rich scheme have a wrong perception of the digital currency. Adding further he explained that “there are a growing number of scams that try to ride on the coat tails of Bitcoin’s fame by claiming that it is some sort of get rich quick secret scheme. No! Purchasing or investing in Bitcoins, by all intents and purposes, will not make anyone rich quickly. It is both a value transfer network and the digital currency within that network.”
Bailon also said that Bitcoin is legal to own and use in all countries with the exception of Bolivia and Ecuador, the latter already has its own digital currency as we had reported earlier. He also dismissed the correlations that people draw between illegal activities like drug peddling and digital currency.
Drawing parallels between digital currency and the US Dollar, he