People compare bitcoin to a Ponzi scheme because the price increases when more money flows into the underlying asset. If I buy for X and sell for X+100 that 100 profit of mine came from another person who bought into the scheme after me. In the eyes of many, this is dangerously close to how Ponzi schemes generate value.
What is the best argument against the Ponzi scheme narrative?
In what ways are Ponzi schemes different from bitcoin?
How do they generate value differently?
The best argument you can point out to the people who keep telling it as ponzi scheme is bitcoin is a currency and the value of it will be base on supply and demand this is basic thing to know by the people and I'm sure they learn the supply and demand thing in their economic class.
Compare it to ponzi scheme where the initiator always promise a profit which sometimes newbie cannot resist.