I figured everything out when I took a walk this afternoon.

When new participants flood their dollars in Bitcoin exchange, the price of bitcoin goes up, hoarders who spread the hypes dump their coins and make their profit, in a colletive and indirect way. You can't see the individual who snaped away your money as a newbie. This is nature of bitcoin exchange as a tool of ponzi scheme. The hypers work in a team that no one exposes his face as a schemer. Is this a ponzi scheme? simple and clear yes, a subtle hidden and intricate one.

Who rescues bitcoin? The feature that a bitcoin can be divided more than a million times which eliminates scarcity. That's why a ponzi scheme works fine with other designated commodity but doesn't work with bitcoin. Hypers and schemers are doomed because they cannot drive the market in the same way as they do with other investment to beat the average return on investment.

So, bubbles exist everywhere, a ponzi scheme has no chance to work with bitcoin if the owners of 51% of the coins are basically lucid.