In substance, BTC has been a pyramid scheme for a while, but it took some time for them all to adopt the mannerism and language as well. Almost indistinguishable from bitconnect now.
BTC was taken over by speculators and is no longer usable as P2P electronic cash.
It was taken over by TPTB. Only speculators remained, and only misguided speculators hop on the BTC trainwreck due to the USDT manipulation, BTC is useless for anything else.
