If I hadn't been asked this question I wouldn't have added this to my FAQ, I have even been asked if it is Bitcoin MLM which is a crazy question.
So, to make it clear, cryptocurrencies or Bitcoin are NOT a part of a pyramid scheme or MLM.
Why are cryptocurrencies or Bitcoin not a pyramid scheme?
Even though some people may argue the point regarding the ethical aspects of cryptocurrencies, they are not illegal. While on the other hand pyramid schemes have been illegal for many years.
The main reason is because a pyramid scheme's goal is to enroll people into a scheme that takes your money and gives no value such as a product or a service.
While cryptocurrencies or Bitcoin have value in themselves because they are a digital currency. Also, if someone is trading or investing in Bitcoin they are well aware of the risk they are taking in the dealings.
A pyramid scheme gives the enroller no chance of making money because their money is going into the pockets of criminals.