IDK about that. Perhaps its not a ponzi scheme, but it is still a remarkably bad idea (right now at least). From my perspective, it is not fiat currency that is massively devalued suddenly, its bitcoin being absurdly expensive. How do I know this? Well, because I can still get a gallon of milk or loaf of bread for ~$3. If I put that $3 into bitcoin, I'd get some fraction of a coin (roughly 0.0001). Which is all well and good until the bubble bursts, and suddenly milk is worth 0.1 bitcoins. Did milk suddenly become 1000x more valuable? No, bitcoin lost value.
This is something I don't understand about people who say they "cashed out of fiat currency". Fiat currency is still what everything is valued by. The value of a gallon is milk is relatively stable. Compared to this, fiat fluctuates a little, and bitcoin is a drunk on a rollercoaster.
Maybe bitcoin is not a ponzi scheme, but it can still bankrupt you. And when it is all said and done, what's the difference?
This is something I don't understand about people who say they "cashed out of fiat currency". Fiat currency is still what everything is valued by. The value of a gallon is milk is relatively stable. Compared to this, fiat fluctuates a little, and bitcoin is a drunk on a rollercoaster.
Maybe bitcoin is not a ponzi scheme, but it can still bankrupt you. And when it is all said and done, what's the difference?