This argument may have been valid before the entire slew of commerce, etfs, useful data, etc hit the market. Now don't get me wrong, there's still alts out there that are ponzis, but they are being busted by the big dogs faster and better, regulation is here now, etc. So Crypto is here to stay, and not a ponzi. You could call the entire wall st stock market a ponzi based on the fact that its, buy low, sell high to the next sucker.