Yes, yes, but did you see both USDT and USDC are both in the red! (in your chart!)

Is crypto really a ponzi scheme?
Always looking for one more person who will take the bag for promised money.

Well, The US debt is a ponzi scheme.
It is mathematically provable that the debt will never be repaid. Can't be repaid.
So, the bond market is just looking for one more person to hold the bag.

But are crytpos the same?
You could argue that cryptos are more gold than gold.
There will only ever be 21 million bitcoins.
Gold stock piles keep increasing, while there are hordes being rediscovered or announced.

So, you buy a bitcoin, and it is worth is what the next person will pay for it... but wait
this isn't a pyramid scheme were you get more and more people to each bid up the asset?
Or is it?

Is it a pyramid or adoption?
The guys at the top of the pyramid will lose out if they do not sell their bitcoin.
They may also lose out if they hold their bitcoin.
So, the wealth isn't really flowing to the top of the pyramid.

I guess bitcoin in not a ponzi scheme.