Err, good point about the dynamics of the difference between accumulative vs distributive ponzi schemes. But "accumulative" ponzi schemes have been around and

Err, good point about the dynamics of the difference between accumulative vs distributive ponzi schemes. But "accumulative" ponzi schemes have been around and labeled as ponzis long before crypto and there's nothing unique about the "crypto ponzi" version besides the sheen of hightech. Bernie Madoff for example didn't have to payout all the earnings/dividends either, he just had to convince people they should HODL too. As a database guy, I appreciate an immutable distributed ledger but the energy/climate/resource waste of running so many hash functions as your base primitive just makes me recoil in horror. And proof of stake is just capitalism redux. The one with the gold makes the rules.