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First off, we don't know that he/she hasn't used any of the money. We only know that this "person" hasn't used any of the coin we know to belong to them. We don

First off, we don't know that he/she hasn't used any of the money. We only know that this "person" hasn't used any of the coin we know to belong to them. We don't know how much other coin they have mined and subsequently spent. I don't think you at point to those first blocks as evidence it's not ponzi in nature. I don't think it is a ponzi scheme or at least I hope it's not. But I do think that it looks an awful lot like one.

rothbardrand 9y ago
It can't be a ponzi scheme by definition, because you can see all the transactions. People aren't holding fake "bitcoin accounts" whose value is reported by a central controlling entity who is misrepresenting the value of the total system. "people bought early and profited" is not the definition of a ponzi scheme, or Picassos are a ponzi scheme as is anything where the value has gone up over time.
NicoJuicy 9y ago
Perhaps you missed https://news.ycombinator.com/item?id=15299849 https://news.ycombinator.com/item?id=15299849