Bitcoin and all of crypto, in its entirety, is a Ponzi.
It is backed by the same USD that Bitcoin fans claim is worthless, yet they price it in USD and extract USD from it to buy things.
Eventually one day the USD supplies will get dangerously low and there will be a systemic bank run and it will collapse. It came dangerously close in 2018. The tide will eventually go out again.
Two economic laws of gravity: wildcat banking systems always fail, and it is never different this time.
It is backed by the same USD that Bitcoin fans claim is worthless, yet they price it in USD and extract USD from it to buy things.
Eventually one day the USD supplies will get dangerously low and there will be a systemic bank run and it will collapse. It came dangerously close in 2018. The tide will eventually go out again.
Two economic laws of gravity: wildcat banking systems always fail, and it is never different this time.