It's not a Ponzi. It's a speculative asset and one that people are buying hard into, some because they think they can avoid being the bigger sucker and some bec

It's not a Ponzi. It's a speculative asset and one that people are buying hard into, some because they think they can avoid being the bigger sucker and some because they genuinely believe it will be useful in the future either as a store of value against inflation or a possible usable currency (right now I somewhat believe that certain properties of certain crypto currencies fundamentally make them bad in the long term). However, a Ponzi is very different from a speculative bubble. Silver or gold in a speculative bubble behaves just the same as crypto right now but they are not Ponzi schemes. They are simply a property of how markets work when speculation gets over energized