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The author seems desperate to justify the existence of this blatantly obvious Ponzi scheme. Also on display is the oft associated arrogance that insists that the only reason people are against Crypto currencies is because they “missed out”.

What a depressing load of manure. I can’t wait for it all to crash and burn yet I feel sorry for the many who were duped and lost a lot of money they couldn’t afford to loose.

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It's not ponzi, it's greater fool. It's entirely possible for bitcoin to exist without new participants buying into it.

Not sure I follow. Ponzi can also exist without new participants buying into it - as long as the existing ones keep pumping money into it. And on the aggregate, bitcoin is negative sum game. Someone must pay for the mining costs and that money must come from outside bitcoin.

https://www.investopedia.com/terms/p/ponzischeme.asp

Doesn't share the same characteristics.

Aren't new investors the required check for an investment scam like a ponzi scheme? Genuine question

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