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RE: Are cryptocurrencies like ponzi schemes?
Ponzi is the wrong word to describe cryptocurrencies.
LIke any asset, a crypto is worth exactly what someone is willing to pay for it. In the case of Bitcoin, I feel like the current transaction costs are too high for it to have anything other than "stored" value. It's a great asset to "save".
As for cryptos in general, the prevailing challenge is in creating a system with nominal transaction fees and reasonably stable value. Tether tries to accomplish this with "tying" the currency to the USD. Ada offers a different solution by using a unique PoS that works like a lottery to verify blocks.
Right now, it costs nearly $9 to validate a bitcoin transaction in less than 4 hours. That makes it impractical as a payment medium.
Large sums, it is still great. International wires cost $20 to $40 and take 5 days to complete. While this reason may not resonate with the average reader, this is what I am referring to. Business payments. For example, a business that wants to order products from China, if your order is large, it's easier to send BTC than it is to wire money. There are certainly better currencies for the task, but BTC can handle very large sums now that the market cap and volume carries such a valuation.
For large international transactions BTC is a great medium of payment.