Bitcoin is a Ponzi. Cool. Show me the operator. • Who’s running it? • Who’s promising 12%? • Who’s cutting checks from fresh deposits? Exactly. Bitcoin is open-source code + math + supply and demand. No central authority. No emergency money printer. Every transaction? Public. Every rule? Known in advance. A Ponzi hides in the dark. Bitcoin runs in broad daylight. Bitcoin is the anti-Ponzi scheme.