[vulturalcptlst]

Ponzi schemes give an INCOME RETURN

Bitcoin gives a PRICE APPRECIATION RETURN

One could call this then a “greater fool” play except it has algorithmic reduction in supply which repairs “greater fool” aspect.

[imtringued]

If the limited supply was the only thing bitcoin had going for it then it would merely perform exactly like gold but it is over performing which means there is an additional irrational component driving bubbles and busts.