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A comment on US Fed Official Calls Tether a ‘Challenge’ to Financial Stability. Parent comment

Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S... by jkhdigital on Saturday June 26, 2021 @09:56AM (#27641876)
What you’re describing is a hand-wavy caricature of the actual definition of Ponzi scheme. Let’s be precise in our language here, please.
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Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S... by the_gastropod on Saturday June 26, 2021 @10:33AM (#27642195)
From Wikipedia [1]

> A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.[1] The scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds

Do you see a distinction between this and the system theli0nheart described?

[1] https://en.wikipedia.org/wiki/Ponzi_scheme

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Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S... by shkkmo on Saturday June 26, 2021 @12:03PM (#27643000)
> Let’s be precise in our language here, please.

It is pretty silly when people who are calling bitcoin a "currency" and autonomous blockchain agents "smart contracts" complain anytime the term "ponzi scheme" is used for a zero sum speculative asset that only pays out gains to existing holders by bringing in new "investors".

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Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S... by jkepler on Saturday June 26, 2021 @12:13PM (#27643111)
If you look at the classic definition of a ponzi scheme, bitcoin doesn't fit, though central bank fiat currencies do. See macro economist Lyn Alden's excellent article for the full explanation: https://www.lynalden.com/bitcoin-ponzi-scheme/
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