Why is Bitcoin not a tulip bubble?

How to judge whether something is a Ponzi scheme?

There is a very simple way.

One of the characteristics of a Ponzi scheme is that when few people participate, everyone has the possibility of obtaining super high returns, but when everyone in the world participates, the total returns of everyone remain unchanged.

Bitcoin has been in existence for more than a decade, and its value has increased significantly every year. All participants have obtained excess returns, which has brought the quality of life to a higher level.

Imagine if all countries in the world abolished their own currencies and used Bitcoin globally, would all 7 billion people in the world be able to obtain excess returns and everyone's life could be improved?

Of course not. The total output of food, cars, clothing and other products in the world is limited. If some people get more, others will inevitably get less.