Cryptocurrency is a tradable digital asset built on blockchain technology. Utilizing a decentralized system to record transactions and issue new units, cryptocurrencies exist only online and have no government or regulating authority to back them.

Some people, like Bitcoin mining facility operator JP, say they are embracing cryptocurrency as a way to level the playing field between the “haves and the have-nots,” while others, like international bestselling author and financial journalist Jeffrey Robinson, warn that cryptocurrency is a “scam” that is doomed to fail.

“It is not a currency, it is not an investment – it’s gambling,” says Robinson, who wrote “BitCon: The Naked Truth About Bitcoin” in 2014. “Go to Vegas. The food is better.”

Watch the video above to find out why Robinson claims that there is “no intrinsic value” to cryptocurrency and why he says he believes that Bitcoin mining is a literal “waste of energy” and an “environmental disaster.”

This episode of Dr. Phil, “Cryptocurrency: Scam or Not?” airs Tuesday. Check your local listing for airtimes.

WATCH: ‘Crypto Is Leveling The Playing Field Between The Haves And The Have-Nots,’ Says CEO Of Cryptocurrency Mining Company

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