Bitcoin is a Ponzi
A lot of the &quot;Common Objections&quot; relate to the REASONS people choose to own Bitcoin and how those cases make it a Ponzi.<p>There are many different reasons to own Bitcoin, however the author seems to only view it through the lens of someone living in a wealthy and developed country with financial stability.<p>The properties of it being difficult&#x2F;impossible to confiscate and its privacy make it valuable in oppressive regimes. A refugee could store their wealth in Bitcoin, leave their country, settle somewhere else, and access their Bitcoin without the risk of it being confiscated during the journey, because they can simply memorise the seed phrase (24 words).<p>It&#x27;s predictable issuance schedule also makes it valuable in countries suffering from high inflation or hyper-inflation.<p>This is a good article to rethink the use cases of Bitcoin: <a href="https:&#x2F;&#x2F;bitcoinmagazine.com&#x2F;culture&#x2F;check-your-financial-privilege" rel="nofollow">https:&#x2F;&#x2F;bitcoinmagazine.com&#x2F;culture&#x2F;check-your-financial-pri...</a><p>Alex Gladstein works for the Human Rights Foundation and does lots of good work in Bitcoin advocacy. His other articles are worth checking out.<p>And the data backs this up. Some of the biggest growth in Bitcoin users around the world have been in places around Africa and Vietnam who are subject to some of the situations mentioned above.<p>Do you think these people see Bitcoin as a &quot;Ponzi&quot;? Do you think they care if such a definition doesn&#x27;t change the properties they find useful&#x2F;valuable?