That’s true for stocks too.
As people sell, value plummets
That doesn’t make it a Ponzi scheme
As people sell, value plummets
That doesn’t make it a Ponzi scheme
Whereas if everyone sold crypto for $0.00000000000000000000001 and people refused to buy, you would gain nothing by buying them all. You can only make money in crypto if people buy it at a higher price.
I get your hatred towards crypto, but you're cherry picking. If all money is BS and made up then good ol' stocks have good company with crypto in hell.
All companies either die or eventually pay dividends in one form or another. So, just because Amazon or whatnot has yet to pay a dividend doesn’t mean it will never pay one. People judge the probability of future dividends not just the pattern of past dividends because companies can fail, but they can also grow. Handing back money in the growth phase is considered an inefficient use of funds.
Meanwhile if you owned all of bitcoin and wanted to keep the current hash rate you’d have to pay in about $20 billion a year, maybe more.
From a cashflow perspective, one is certainly better than the other to own, even if you are barred from selling.