Re: Ponzi scheme?
"I'm objectively interested in the reason for all the downvotes."
I've tried to make the same point in the past and while I didn't get a lot of downvotes, I didn't get many upvotes either.
And, in fairness, while Bitcoin and Ethereum seem to be pretty much as advertised -- i.e. monopoly money, but they are up front about it -- some of the other crypto based efforts really do seem to be pretty much 99.98% pure scams. However, IMHO they lack the finess and style of a well done Ponzi scheme. Charles Ponzi's original effort. Or Bernie Madoff who managed to become chairman of the NASDAQ in the early 1990s at a time when I believe he was doing little or no actual trading in securities.
(It is remarkably unclear how much money Madoff disappeared. Billions for sure. But somehow, no one seems to know how many billions).