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By that logic, any emerging industry has this Ponzi-like characteristics. Early players will always have a large share, almost by definition.

A more defining characteristic of a Ponzi scheme is that the early player's dividends are actually paid from the principal of late-comers. Which only works until you have a steady stream of new investors. As far as I understand Bitcoin, this is not the case there. It just gets harder and harder to "mine" new coins.



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