Bitcoin was, is, and will always be a Ponzi scheme where only those who got in early made bank. Later on, it became too expensive to farm coins and by now it must be virtually impossible to do so. That is the joy of non-scalable solutions; eventually you spend so much time "thrashing" that you don't get anything useful done any more, and that is what happens to the bitcoin miners now.
It does, however, serve a purpose. It feeds the black markets without a reliance on USD.
Biting the hand that feeds IT
