Wow - a lot of dancing around to avoid the word "ponzi" being attached to Bitcoin. A turd is still a turd no matter what you call it.....
This is progress. Your original premise is that BTC is a turn because it was like a ponzi scheme. Now that we agree it is not like a ponzi scheme, perhaps you can clarify your argument.
On the spectrum of turdiness, is BTC more or less turdy than an early stage biotech startup? Is it more or less turdy than a Canadian platinum mining play? Is it more or less turdy than Tesla?