TheRegister - China's blockchain boosters slam crypto as Ponzi scheme

https://www.theregister.com/2022/06/28/execs_of_chinesestate_sponsored_blockchain/

Cryptocurrency has been labeled "the biggest ponzi scheme in human history" by executives of the China Blockchain-based Services Network (BSN) – an initiative to promote the commercial adoption of blockchain technology.

This is because cryptocurrencies require a continuous flow of new investors to remain stable, and early investors benefit the most.

And this seemingly beautiful cycle can collapse to zero instantly, once the following things occur, for example:

• dangerous short-selling,
• no succession,
• tight funding, or
• changes in regulatory policy, etc.

Terra's Luna and UST coin may be the latest example.

Are you also a cryptocurrency holder? Note the above ponzi allegation!!