re: Bitcoin is a Ponzi scheme—the Internet’s favorite currency will collapse.

From the OP article:

quote:

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A regular Ponzi scheme collapses when people realize that earlier investors are being paid out of the investments of later investors rather than from the returns on an underlying asset. Bitcoin will collapse when people realize that it can’t survive as a currency because of its built-in deflationary features, or because of the emergence of bytecoins, or both.

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So even the Slate article -- which Russian holds up as proof that bitcoin is a ponzi -- doesn't allege that bitcoin is a ponzi scheme.

Rather, it supposes that bitcoin will fail because of "deflationary features" and/or the emergence of competitors.


The OP article's title is misleading, probably to lure in lazy readers who take the title as gospel and link to the article without bothering to read its contents.