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Is cryptocurrency a ponzi scheme?.
For example, a currency is defined as a medium of exchange. A "means" to trade goods and services, said medium must have an agreed upon and stable value other wise it has no inherent value or meaning.
However 99% of people do not use bitcoin as a currency. They buy it as an investment hoping someone else is crazy enough to pay more than they bought it for, hence the volatility. So we should be clear bitcoin is inherently just another form of gambling or ponzi scheme not a real currency.
So let's be honest with ourselves, bitcoin has literally no value or meaning other than gambling that someone else is willing to pay more for something with no inherent value.
Here is an interesting theory, what if the energy/fossil fuel companies paid someone to create bitcoin. Think about it, the cryptocurrency miners use more energy than most countries. Hundreds of terawatts of electrical energy goes in and nothing but heat comes out. It's literally a complete waste of terawatts of energy continually driving up the price of electricity.
We could ask who has the most to gain?. It sure as hell ain't the average person it's the energy companies and the speculators.
AC
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Comprehend and Copy Nature... Viktor Schauberger
“The first principle is that you must not fool yourself and you are the easiest person to fool.”― Richard P. Feynman
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Topic: is bitcoin and cryptocurrency a ponzi scheme? (Read 581 times)
