In those 13 years it has proven to be nothing more than a Ponzi scheme for cryptobros and probably one of the most wasteful endeavours that humanity has ever started. One can only hope that the next 13 years kill it for good, either by imploding internally, or it being outlawed in every country that can.
Doesn't meet the requirement: New investor money to pay old investors.
Which is not to say it's problem free, but that problem is at the exchange level. Art suffers the same flaws. And Yachts. And on and on and on. That's why we have regulations.
Desperately need regulation at the fiat/crypto exchange
This means that if you want to cash out, you need someone else to invest their "new investor money" in Bitcoin.
It’s not.
Being pedantic for fun. Isn't all crypto currency already outlaws? They operate outside of all the financial laws and regulations we have. In fact I think some proponents are citing this as a feature.
No? Here in UK you can legally buy/sold/hold crypto. HMRC even tells you exactly how to pay taxes on it with official documents explaining the process.