Nouriel Roubini says yes. Paul Krugman says yes. So does Agustin Carstens, former head of the Bank for International Settlements. Cory Klippsten argues the word does not survive contact with the thing. A Ponzi scheme is a fraud. Someone takes money from investors, tells them it is being invested in earning returns, and then pays the earlier investors with money from newer ones. Bernie Madoff is the obvious recent example: the investments largely did not exist, the returns were fake, the statements were fake, and when people wanted their money back most of the money was gone. Bitcoin has no company taking your dollars, no CEO promising a return, no secret strategy and no fake account statements. The issuance schedule is public, the ledger is public, and the code is public. And if you broa
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