Bitcoin IS a “Ponzi”, but a naturalized Ponzi, like Gold. It’s not a Madoff-style Ponzi. Bitcoin doesn’t have a centralized issuer who can run away with your money. Plus Bitcoin is transferrable, it is used for payments. IT IS MONEY.
How do they generate value differently?
Both Ponzis and Bitcoin rely on the free market, but Ponzis are scams, Bitcoin is not.