Isn't Fiat the Real Ponzi

[JunaidAzizi]

I've seen many blog posts describing bitcoin as a ponzi scheme, but looking at the current inflation of fiat it now looks like a Ponzi. Don't know who is the beneficiary in this kind of fiat Ponzi. The earlier generation had enough to buy with few amounts that can't buy anything reasonable today. I also saw Elon in a tweet saying or calling fiat a Ponzi scheme. People suffer to get fiat and lose it on high food prices and products. In a Ponzi, everyone ends up losing money, same with fiat. A good number of people around me complain of not being able to purchase products with a fair sum of money they feel is big.

I think you may need to know the difference between the fiat money and the Ponzi scheme. The fiat currency is governed by the government while the Ponzi scheme was by hackers or fraudulent type people. You can not compare fait money with the Ponzi scheme. People sometimes time confused and call it a Ponzi scheme and I think this is because of inflation. In inflation the government prints more currency and the price of goods increases as a result people need more money to buy something. And some people get lost in this, those who save money, and those who have large assets are getting lost in all this situation. With the fiat currency, you can locally do anything purchasing or selling but in a Ponzi scheme you can not do so, so don't be confused about it.

[davis196]

I've seen many blog posts describing bitcoin as a ponzi scheme, but looking at the current inflation of fiat it now looks like a Ponzi. Don't know who is the beneficiary in this kind of fiat Ponzi. The earlier generation had enough to buy with few amounts that can't buy anything reasonable today. I also saw Elon in a tweet saying or calling fiat a Ponzi scheme. People suffer to get fiat and lose it on high food prices and products. In a Ponzi, everyone end up losing money, same with fiat. A good number of people around me complain of not being able to purchase product with a fair sum of money they feel is big.

Do really know what a ponzi scheme is(and how a ponzi scheme operates)?
Fiat is not a ponzi scheme. Fiat currencies are a legal tender with a decreasing value. The value is decreasing simply because the governments can't take financial responsibility and completely balance their budgets. It's easier to earn less and spend more. It's also easier to get into more and more debt, which is supposed to be paid by the future generations. The central banks are simply buying all this debt(in the form of government/treasury bonds) by printing more money. Those newly printed money aren't backed by more products(or assets), therefore the overall value of the money goes down(bigger money supply growth and less product supply growth).
The actual ponzi schemes are the national debts, created by the governments. This is basically borrowing money from the future generations in order to artificially maintain the high living standard of the current generation.

[tjtonmoy]

~snip

I never said that Fiat currency is a Ponzi scheme. Brother I would blame people for using it as a mean to do Ponzi schemes. I agree with you that currency has been used for decades if not centuries for a mean of transaction and exchange for goods. But recently people are using it for their own advantage and making it bad. Everything that could be exchanged for goods could be used for Ponzi schemes.

It's not the things that people are using for Ponzi schemes are bad rather it is the people who are using it for bad purposes and make it bad. You cannot just replace traditional things that have been used for centuries. Instead, when to find alternative to it in order to fix the situation. Let's not go to a war with Fiat and Bitcoin. We need to learn to use both of them simultaneously so that they both can coexist.

[puloweh555]

It is a legal ponzi   

All the bankers are the top of the piramire and all outside of it are paying with inflation.

I also have thoughts like you. Historically, haven't the global elite and their bankers created Ponzi schemes, where fiat, which is essentially just numbers, is used as a means to employ people around the world to enrich them (a small group).

Yes, even though we all need fiat because it has become a legal instrument in a country, the more I understand that this can be said to be a real Ponzi. That's why now we have to switch to bitcoin which has been proven to be the currency of the future, especially as it can be a way to prevent inflation.