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See https://www.ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin-ponzi.html https://www.ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin... Yes, you are wrong.

See https://www.ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin-ponzi.html https://www.ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin... Yes, you are wrong. The US dollar is not a ponzi. To quote from the Bitcoin is a Ponzi article: National currencies too fail to fit the definition, because people do not "invest" in them with the expectation of gain. In fact, governments make their currencies slightly inflationary precisely to discourage hoarding.

emptysongglass 6y ago
I'm not sure we're on the same page here. You may not "invest" in a dollar with the expectation that that dollar will be worth more as 1 dollar than yesterday but people do "collect" money. Given a large enough collection, one can then use then use this as a backing store for other investment vehicles. The end result is the same: an aristocracy of old wealth at the top and the young clambering up their ever-taller ivory towers.