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A comment on Cryptocurrencies add nothing useful to society, says chip-maker Nvidia. Parent comment

Re:Cryptocurrencies add nothing useful to society, says chip... by jkepler on Sunday March 26, 2023 @03:45PM (#35318731)
> A Ponzi scheme pays profits to earlier investors with funds from more recent investors.

You just described how Social Security in the USA is funded. Its billed as government-run social insurance, but funded as a ponzi.

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Re:Cryptocurrencies add nothing useful to society, says chip... by ben_w on Sunday March 26, 2023 @03:59PM (#35318895)
1. "Profits" is a relevant keyword there.

2. If Social Security were to fail, the US government would be free to decide between canning it (or reducing it) or funding it from more taxes (or delaying retirement age, which is kinda both); in none of these cases is this itself going to threaten the USA economy or the USD currency.

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