[ctbarna]

By that logic, any insurance would be a pyramid scheme.

[gnaritas]

As would be any interest bearing account.

[biohacker42]

The differences between social security and savings accounts and a ponzi scheme are:

Truth - we all know how social security works and what bank runs are.

Rate of return - low interest on savings accounts and not much from social security.

Ponzi schemes tend to promise well above average returns and almost never explain how those returns are generated. That was certainly the case here, the returns were phenomenal and thought to be from brilliant trading strategies.

[jswinghammer]

I buy insurance knowing that I probably won't need it and hope I won't need it.

[tfinniga]

Right, insurance isn't a scam. You buy it hoping that you'll have lost money on it. And for most people, that's the case.