I'm really adamant about the precise definition of a Ponzi scheme, because people keep spreading these moron takes like "Bitcoin is a Ponzi", "US Dollar is the biggest Ponzi", etc. and we're losing the cultural competency to spot real actual Ponzi schemes.

Ponzi schemes are investments where you put money in, you're allowed to withdraw your principal at any time (until you aren't), and you're paid interest on your principal (which comes from other peoples' principal).

These things are uniquely harmful because they play on psychology with impossible promises, and they collapse instantaneously, losing 100% of all depositor money. This is why they have a special name, and I want people to be better at recognizing them.