Yeah... if Bitcoin is a Ponzi scheme, then any investment bubble where stocks etc. rise to values which have nothing to do with reality is a Ponzi scheme too. T

Yeah... if Bitcoin is a Ponzi scheme, then any investment bubble where stocks etc. rise to values which have nothing to do with reality is a Ponzi scheme too. There too the inverstors who have held the stocks the longest and who sell before the bubble bursts will get the most profits, while the ones who got in late will lose money. Which is also unfair of course, but not fraudulent per se...