Cryptocurrency Is a Ponzi Scheme. Is't the Time to Regulate It?

Bitcoin is more like a decentralized pyramid scheme, there is no single person at the top but those who mined tens of thousands for almost free in the beginning are selling useless numbers to latecomers, who in turn try to sell to even later users and so on.

Is it right?

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Many crypto startups do far more work than other investments. for instance, let's say I make a new toilet paper holder. I get 10 million on investments. I say it's gonna be huge! But then, I use the money to buy a ferarri and mansion and other frivolous shit. So, what do I have to show that the investments weren't just a scam? well a "good faith" effort to make the company work. So if I make no attempt to make the tp holder then I'm fucked. If I spend 8 million trying to make it, and take 2? Well, that would be far more debatable.

The same is true for crypto. The FBI has busted almost a dozen people who "rugged" their communities. Basically they said they were gonna build a video game or something, and did fuck all. In one case the guy messaged wkmekne in discord and was like "bye I took all the money ". That's fraud, and they're in jail awaiting their trials as we speak. If you want to run a scam the best way to cover your tracks is to take cash and launder it through a normal business, like a nail salon. That doesn't make cash a ponzi scheme, the underlying motive is.

But. All the finger pointing at crypto is a distraction to the real casino. Wall St.. It's lost 7 trillion since January. Over a trillion a month, and that comes out of everyone who is investing. Funny we don't talk about those "thieves" isn't it? Majir companies like Netflix and Meta losing 40 50% because they were backed by air, why isn't anyone going after them, or even calling them out?

We all know,a Ponzi Scheme is a specific type of fraud in which a person collects money from a client to invest, but instead of investing it, he uses it to pay out returns to other clients. That's not at all what's happening with crypto. When you buy and sell crypto, you're actually buying and selling crypto. When you buy into a Ponzi Scheme, you are told that you're buying investments, but your money is actually being stolen. If you go to sell your investments in a Ponzi Scheme, you can't because you never owned them in the first place.

Only one question:Why are so many elites all over the world willing to be deceived when they know it is a scam?

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