This is different to hating tiltok though. Ponzi schemes actually hurt real people when they collapse. I think it’s reason able to think that pointing out the emperor’s lack of clothes is public spirited.
Honestly 'its a Ponzi' has been debated a million times, it isn't, except in a really loose description into which any currency or asset could fall. They all rely on someone else wanting to pay more for an asset that you did. That's it.
It's a negative sum speculative vehicle. For every $1 that goes in exactly $1 can come out - minus miner fees. Any gains in welfare are illusory.
Options, futures and commodities are zero-sum, because gains for one party are distributed directly from the other party's losses.
Stocks are positive sum because companies have earnings, revenues and profits. They use this income to grow the business, pay dividends or re-purpose shares. It's absolutely the case that you can get more than $1 out for each $1 put into share ownership.
making the world a better place = deny billions access to any financial lifeline they may have.
Those silly Zimbabweans, Venezuelans and Turks, why are they losing their life savings?
Can't they just do smart things like you, and login to an SIPC insured account to short Bitcoin right at the top without any counter-party risk, while their financial advisors manage the rest of their portfolios? Duh.
It finally makes sense, you are from the "let them eat cake" camp.
In those countries a single BTC transaction fee can be a month's wage. Venezuelans know this - they moved 66% of domestic transactions to USD, not crypto. [1] And of course they did, it's strictly a better currency. In every meaningful way.
I'm from the "don't tell them it's cake when it's a sawdust to pump your bags" camp.
