I don't think it's a ponzi scheme, but some projects built on it, such as BitConnect, most likely are. I think Bitcoin is the 1st generation of cryptocurrency w

I don't think it's a ponzi scheme, but some projects built on it, such as BitConnect, most likely are. I think Bitcoin is the 1st generation of cryptocurrency which should've either died a long time ago and replaced with the 2nd generation like Ethereum or evolved to Bitcoin v2. Instead, perhaps due to lack of competition for a period of time, it became a massive speculative bubble and amassed enough money that it's now too big to fail. So it just keeps on growing, mostly on hype and irrational investments from the influx of new people, and it's doing it so fast that its effectiveness and usability have become largely irrelevant for most general use cases.