Bitcoin is a giant Ponzi scheme!"Almost 15 years after the introduction of Bitcoin's whitepaper, I still hear this declaration frequently, and usually with a conviction inversely proportional to the price of Bitcoin. I am sure you have seen various versions of this claim by now, but here is one of my all-time favorites. Allow me to elaborate why saying "Bitcoin is a Ponzi scheme" means you have no understanding of what a Bitcoin is, but perhaps more importantly, neither what a Ponzi sche...