Not really. The total price of all the outstanding coins is going up, and people are exiting and taking cash from people putting money in. The ponzi aspect is just because it’s a bubble. Any bubble works like a pyramid scheme. It doesn’t matter if the underlying asset has a fixed amount, like bitcoin, or varying amounts, like tulip bulbs.

Written by

An engineer-psychologist focused on machine intelligence. I write from my own experience to support others in living more fulfilling lives | duncanriach.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store