[themagician]

A perpetual ponzi scheme will go on forever, because there’s always a endless stream of people who think it’s the person in front of them whose the sucker and not them. That is, even when people KNOW it’s a Ponzi scheme they will still play the game.

That’s the crypto market. Each coin is as close to a perpetual ponzi scheme as you can get. The coins won’t be worthless until there is only a single sucker left.

[scalesolved]

Do you consider Bitcoin to be a perpetual ponzi scheme?

[cvrjk]

I am not sure if it isn't.

Among other things, transactions are not cheap, as they were supposed to be. The chain supporters are trying to pivot the whole thing as "Store of Value" which it isn't supposed to be. It does not scale. There are better blockchains offering everything bitcoin does and more (Ethereum for one).

[themagician]

They all are, Bitcoin is just a little bigger so the players are typically companies and institutions instead of individuals.