> It's also a scheme in which early investors are paid by later investors, not by any form of value creation. This is not correct, since a lot of people hodl.

> It's also a scheme in which early investors are paid by later investors, not by any form of value creation. This is not correct, since a lot of people hodl. This is 100% buying something that might increase or decrease in value. If it decreases, is it then a "reverse ponzi scheme"? Actually, we could create a real ponzi cryptocurrency, where older wallets get interest from newer wallets. Or that part of the value regularly gets transferred back to the previous transacted wallet. Now THAT would be a ponzi scheme!