PONZI SCHEME?
Probably the biggest misconception about bitcoin is that it is a big Ponzi scheme.
The purpose of a Ponzi scheme is to (unjustly) enrich the creator of the Ponzi.
As the creator of bitcoin Satoshi Nakamoto has mined over a million bitcoins, but he or she has never sold a single bitcoin.
So how could it be a Ponzi scheme when the creator never even profited from it?
Yeah, I think this is the most common, given by the era Bitcoin started going mainstream and the more popular. It was a time where Ponzi schemes did rock and people didn’t know much about it or how to differentiate between them both. Up till today, there are those who still don’t see Bitcoin to be no different from a Ponzi scheme. You don’t get to blame them much on this though, they are just ignorant and aren’t ready to make any smart moves about it.