That's not the definition of a ponzi.
Ponzi requires a central coordinator
Discussion
It also requires fraud. In other words, the US Dollar isn't a ponzi scheme because there is no fraud, they admit its a shitcoin and force you to use it with guns. Whereas SS is a ponzi because they lie about what it is but then also force you to pay in with a gun.
I checked the definition and it indeed does require a central coordinator to continue operating. Interesting
But my point is people calling Bitcoin a ponzi aren't wrong. It's just their opinion. And who gives a fuck about their opinion. They'll smell the roses later on their own time.
Value is subjective. Therefore, a store of value can only be a store of value if someone perceives value in it. And to realize / get value from that thing, one must either use/consume the store of value at one point in time, or exchange it against something perceived to be of equal value by another party.
Satoshi created Bitcoin to be perfect money. If money is to act as a medium of exchange, value must be perceived by both parties. If value isn't perceived for both parties, then it's a ponzi in their eyes. It has no value. Someone cashing out on their Bitcoin will be seen as someone profiting off a ponzi scheme because they just traded something that has no value (in the eyes of the beholder) for something that has immense value: USD to a seemingly uninformed participant, and they got away with it
Ponzi schemes are centered around an opinion. A fake store of value is a Ponzi scheme. But if my perception of value is skewed, then so will my definition of a Ponzi scheme be flawed.
And if I'm inclined to believe Bitcoin is a ponzi scheme, seeing someone sell theirs for "tangible" dollars won't change my opinion. It will enforce it.
I think the only solution to win the minds of the uninformed idiots is to use Bitcoin over dollars for actual goods. If Bitcoiners trade their Bitcoin for Fiat, they'll be perceived by the uninformed to be hypocrites, looking for an exit.
Tldr:
- MoE + store of value = money
- MoE alone = ponzi
- store of value is subjective.
If value = 0, then MoE = Ponzi