I think crypto is dumb as hell but by this logic, how are any speculative assets not Ponzi schemes then? I’d argue that by definition, it’s not a ponzi. How could it be? What entity is controlling and organizing the flow of money in such a way that investors are repaid FIFO? Not only that but there’s zero guarantee based on position in line that you’ll make any amount of money relative to that position — a guarantee you’d likely have in most Ponzi schemes.
Idk. There are a lot of reasons to hate blockchains and bitcoin but trying to label it as something is fundamentally is not seems counterproductive and disingenuous.
Yep. While I'm also no fan of cryptocurrencies, calling them Ponzis is just silly. People love repeating these slogans without actually understanding what they mean
