I get your point. Perhaps not a Ponzi scheme in the traditional sense. In the Ponzi scheme you described, the value of the currency is stable but the account is

I get your point. Perhaps not a Ponzi scheme in the traditional sense. In the Ponzi scheme you described, the value of the currency is stable but the account is hidden. In Bitcoin, we have the opposite. The "Ponzi scheme" is enabled on bitcoin not by hiding the bank account, but manipulation of the value of the currency itself. In both cases, the n holder is benefiting from the n+1 holder by convincing them to pay more for what the sell as a profitable investment, and each transaction value should be greater than the one before it for it to work. So it is a form of a Ponzi scheme, not the traditional one you described. Sure, I have a transparent ledger, but what exactly do those numbers account for? I tell you, it is a great, wonderful investment, easy way to make money, it is the future, just pay me x amount more than what I paid. The issue here is that bitcoin is not appreciating due to advancements, growth or the extra value it providers to society, in fact as it stands it has negative impact. No, it is appreciating only due to social hype in the intersubjective social reality. It is a scam.