Bitcoin IS a “Ponzi”, but a natural-occuring Ponzi, like Gold.
There's no such thing as a natural-occuring ponzi. Something is a ponzi or it isn't. Neither gold and bitcoin are ponzis as there are no promised returns from (the) creators.https://en.wikipedia.org/wiki/Trophic_level
There's a (mathematical) reason we cannot have infinite trophic levels. It's a pyramid system, made by nature herself. That doesn't mean we should stop eating meat, let alone food altogether. It is what it is.
So it's not necessarily a bad thing... it's just the law of nature. Nature knows better than Homo Sapiens, there's no question about that.
Plus Bitcoin is transferrable, it is used for payments. IT IS MONEY.
And same goes for dog coins. However, it is obvious enough that the creators do it for the profit. Even if they find alibis (that it has a usage), I can't unsee those as frauds. Still, they aren't ponzis. Ponzi has a really strict definition.Some pensioners (especially early ones 100 years ago) got pensions for paying literally nothing (when the pension system started in the West) and current workers pay exorbitant taxes to fund the pension system, with no promise of getting a decent pension. Seems familiar?
Pension systems require new members/workers, which requires births and there's a birth deficit in the West these days. It will collapse sooner or later, just like Madoff's ponzi scheme.
I would call it a scam, but it's legalized by the state. Just like there's legalized violence (police) and legalized money monopoly (fiat currencies issued by private central banks like FED/ECB).
So it doesn't matter if it's a scam, what matters is if it's legal (having state backing) or not. Madoff didn't have any state backing (he was a small fish compared to big fraudsters), so there you go.
Thank god we have BTC, that's my "pension insurance".
I don't give a shit about state pensions, regardless of the countless taxes I've paid over the years.