I had arguments with my friends who are always tagging bitcoin with negativity. Today, we argued and I educated them on bitcoin and Ponzi scheme. To me Ponzi scheme is when developers takes money from new entrance to pay early birds,rinse and repeat until they raise enough and vanish. But bitcoin is not like that. Do you think I am right?
Bitcoin and cryptocurrencies have undoubtedly become popular nowadays. Some big personalities and icons in the business world and entertainment industry have been involved in crypto either supporter or endorser of some ICOs, but due to the proliferation of scam ICOs, SEC implemented regulations to protect their citizens.
Mainstream media picked it up and as a viewer like your friend grasped it negatively towards the entire cryptocurrency as a Ponzi scheme. You can't change the opinion of your friend right away, it takes time or it might not happen at all. Get rich in crypto so your friend may realize he is wrong about crypto.