Part 3/9:
He emphasizes that Ponzi schemes often present themselves as legitimate investments, ultimately leading to a collapse when they can no longer attract new victims. In stark contrast, Bitcoin is described as a decentralized entity that continuously “mines blocks” without relying on the naïveté of newcomers. To Livingston, believing Bitcoin is a scam indicates a disconnection from reality; it is the fiat system, not Bitcoin, that should raise suspicion.