#PI In-depth analysis: why do people say it's a Ponzi Scheme? If it's not a Ponzi Scheme and is decentralized, the 60 million believers, the miners, would not sell the coins they mine, and would instead buy a large amount, while the market and enterprise ecosystem would also see a massive influx of this traffic, steadily increasing prices and thriving the ecosystem. Normal business thinking, Nicolas Fan Chengdiao understands this. Why not do it? The core truth is that a Ponzi Scheme fundamentally lacks any technology. If decentralized, everything is exposed, and participants from miners to enterprise ecosystems would face legal consequences. Only a centralized Ponzi Scheme can evade all legal accountability. I, too, am just a middle school design from Fan Chengdiao; as long as the centralization ultimately leads to nothing, it's just a social practice.