The innovation of Bitcoin is that it is a decentralized Ponzi scheme. Bernie Madoff's scheme fell apart because it was centralized, and so, once you arrested M

The innovation of Bitcoin is that it is a decentralized Ponzi scheme. Bernie Madoff's scheme fell apart because it was centralized, and so, once you arrested Madoff, it was over. The end. There's no one at the center of Bitcoin. There are big players, sure, but they are all replaceable. It's happened before and it will happen again. And each time one exchange or big player is arrested, shut down, or slinks away having stolen enough money to sate themselves, someone new can seamlessly slip in and start hyping Bitcoin and taking a percentage from the new rubes without missing a beat. I honestly don't think it will ever go away, completely, for good, no matter how often it booms and busts. When I'm in a nursing home I'm going to be getting calls from boiler rooms trying to convince me to move my retirement savings into Bitcoin, I'm convinced.