By this defintion any investment is a pyramid scheme. Even savings accounts give the greatest return to those who start early.

Which investment opportunities don't favor early adopters?

70% of ethereum was sold at rock bottom prices to "early adopters" in a presale.

You are right. It is a ponzi.

Most of the early investors (very early, startup phase) of Amazon and Apple got shares in the company at rock bottom prices. Does that make them a ponzi scheme?

It must also be unsustainable without new entrants.

I hope you then also count stocks, land ownership etc. as such.

to a degree but not so much. Land has real value. Stocks are different again. The idea that eth is considered more of a stock than a currency is the root of its problems imo. I have a real itch to one day see a crypto being widely adapted as an actual currency. I think dogecoin is the only one in our current crypto eco-system that has even a fraction of a chance in filling that space. I'm sure it will happen some day, but maybe not with our current crop of cryptos.

Yea, ETH is more like a stock of the biggest crypto lab, its kind of the Apple of crypto (in the way it transferred innovation happening in a field under into its own garden). I think we will see a currency widely adopted, and its going to be BTC or BTC-based (fractional banking but with crypto).

> I have a real itch to one day see a crypto being widely adapted as an actual currency.

Monero is closest to achieving the original cryptocurrency dream. Private and anonymous transactions, good speeds, low fees, ASIC and GPU resistance, committed developers that are actually improving the coin over time, open source wallets even on mobile.

> I think dogecoin is the only one in our current crypto eco-system that has even a fraction of a chance in filling that space.

Why do you say that?