[RC_ITR]

I don't know how to say this clearly enough: It's a Ponzi because you can't buy anything except other currencies with it.

Like sure, you can't steal it from me, but you can sure as hell prevent me from acquiring goods/services with it (Governments all around the world have done an amazing job of that whether they tried to or not), so it's only worth something insomuch as you can turn it into fiat.

And it's only worth what it is in fiat because people believe that in the future it will be able to buy goods and services, despite no evidence that it will be able to do that.