Hacker News new | comments | show | ask | jobs | submit login

It's my understanding that being a Ponzi scheme was an explicitly stated feature in the design of Bitcoin. The idea was that setting up a very large first-mover advantage overcomes the chicken-egg problem of a currency whose entire value is based on network effects but initially has no users.

Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact