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Originally Posted by 420
It doesn't fit that definition. True, bitcoin doesn't earn a profit. Technically there are transaction fees paid to miners that keep the system running. But there is no single operator. It's a peer to peer system. New investors pay old investors directly to acquire coins.
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Oh, does ponzi require some single operator, I don't think so, but take a look at pyramid scheme.
"In a pyramid scheme, an organization compels individuals to make a payment and join. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments. For the directors, the scheme is potentially lucrative—whether or not they do any work, the organization's membership has a strong incentive to continue recruiting and funneling money to the top of the pyramid.
Such organizations seldom involve sales of products or services with real value. Without creating any goods or services, the only ways for a pyramid scheme to generate revenue are to recruit more members or solicit more money from current members. Eventually, recruiting is no longer possible and the plurality of members are unable to profit from the scheme."
Pyramid scheme - Wikipedia, the free encyclopedia