Madoff didn’t “guarantee” profit either but was still running a Ponzi scheme. I am not convinced that cryptocurrency qualifies as a Ponzi scheme (the real dist

Madoff didn’t “guarantee” profit either but was still running a Ponzi scheme. I am not convinced that cryptocurrency qualifies as a Ponzi scheme (the real distinction is that the person at the top knows they’re selling a fraud) but it’s certainly driven by pure speculation.