Comment by asciimo

Your assertion that bitcoin is "a vehicle entirely for speculation" is false. It provides convenient methods for transferring and storing value. Even if it were merely a vehicle for speculation, that is not the criterion for being a Ponzi scheme. Is gold a Ponzi scheme? ICOs are a different matter, but they shouldn't be lumped in with bitcoin any more than a little league baseball team should be lumped in with the New England Patriots.