why I call it a ponzi because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
Before calling bitcoin a ponzi, you must get aware of
characteristics of ponzi schemes.
But, bitcoin works very similar to stocks where early buyers enjoy big profits due to their decisions of buying and holding. I am not seeing any differences from the characteristics of typical stock markets. Usually ponzi schemes makes its originator rich and to keep attracting new investors he pays to early people from the money we collected from late adopters. Is this how bitcoin market works? No originator (no central authority) and benefits both early and late adopters (based on their holding periods).