this post was submitted on 28 Feb 2024
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Bωockchain
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bwockchain is not a technology of the future, buttcoin is a scam.
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By your definition, the US dollar is also a ponzi scheme because if all of Gen Z and their children and future generations choose to conduct all their financial transactions in Euro then the US dollar will have no value. This is simply not the definition of a Ponzi scheme.
It is not my definition; feel free to Google it. The actual reality of bitcoins model falls well within that of a Ponzi scheme as the only derived long-term value comes from new investors and the long term model will continuously bleed more resources than sustainable running the network.
The US dollar is differentiated as it's a secured currency backed by a legitimate business interest (the US government; citizens have no say in it. It does not matter if they wish to use Euros. They are forced to transact via the currency legally and thus it's value is secured.)