When Bitcoin reaches its next all time high, literally everyone is in (unrealised) profit. However, to get that 'profit' they have to sell it; mostly starts with the few rich speculators at the top of the pyramid accumulating starting to sell and a new fool who buys in late.
The next time Bitcoin crashes, the ones at the bottom who bought in late and hold it always lose.
Therefore the criteria is met and it is a Ponzi scheme and that is what Bitcoin is really useful for.
It's really simple. Take for example, Bitcoin:
When Bitcoin reaches its next all time high, literally everyone is in (unrealised) profit. However, to get that 'profit' they have to sell it; mostly starts with the few rich speculators at the top of the pyramid accumulating starting to sell and a new fool who buys in late.
The next time Bitcoin crashes, the ones at the bottom who bought in late and hold it always lose.
Therefore the criteria is met and it is a Ponzi scheme and that is what Bitcoin is really useful for.