Fiat is a Ponzi scheme, period! No matter how politicians "perfume" their currencies and try to perpetuate them furthered into the future, the fiat Ponzi won't last forever and it is designed to withdraw wealth from every single individual that utilize them, as we saw that literally all of them went down to zero; that's for sure.
In order for a crypto to not be a Ponzi like scheme it must 100% be like this:
1) No free give aways! Period!
2) No admin fees, developer fees or ANY other fees that does not incentivizes the validators or the workers (computers)!
3) No ICO, IPO, or any bs Ooos! Even that the offerings could help future development of the respective crypto, those projects will not last long. Why? Because there is no single difference when they are compared with a Ponzi Scheme, so Cardano Founder, please stop making videos about other Ponzi schemes, ok?
Here you might also argue that: look it is not possible for a blockchain to be constantly being developed with new tech if there is no "payment" for the work of developers. This is a wrong way of thinking and I will explain why:
- The monetization of a currency is truly the Bitcoin (I'm not being maxy I just point the facts). The developer did not wanted any money for his creation. Period!
- The development of a currency is also Bitcoin. Satoshi did not let it go until he realized that the coin had a very large community of developers that truly believes in his ideology and won't try to undermine the development of the currency in the future.
- The wars that comes in splitting a currency MUST NOT undermine that true purpose of it's creation! Aka block size war in Bitcoin. No matter if you believe it or not but BITCOIN is BITCOIN and that's how it should be forever! NO Block Size Enlargement, Nor Faster Transaction Speed by Reducing Security or Increased Centralization by accumulating the most of it's coins.. (you can check the crypto Trilemma). You might also argue that Satoshi in his posts stated that the block size could be increased BUT back then there was zero Layer 2 Solutions, implementations or even the basic idea of a layer 2, 3 4 etc! So CASE DROP!!!
- Side Chains ARE improvements of the pristine layer ones!
4) No pre-mine, community mine or even fork-drop coins, if the chain might split at a point in time!
5) Must be Absolutely Decentralized! This means also that no developer intervention is required to stop the blockchain from operating even if hacked.
Now you might say Hacks are horrible so in order for a chain to function without being affected by the hack someone must intervene right? WRONG! MAKE SURE THAT THE BLOCKCHAIN THAT YOU CREATE IS 100% HACK PROOF OR DO NOT RELEASE IT TO THE PUBLIC UNTIL IS SAFE TO USE! But hey do not listen to what I'm telling you just look to what Satoshi did. His example of a almost unbackable Proof Of Work Blockchain should be in every developers mind before actual release.
But these are my ideas. Let me know what you guys think that these are true or could be improved.
Take care out there and do not keep your crypto in exchanges... get your personal hardware wallet!
Peace!
