So in the end it becomes more like a ponzi scheme, where the person who exits last suffers the most? It is like the seller that sold at the last moment ended up being the victim. And if you are saying the sellers end up buying more btc at lower price, then they actually aren't "panic" sellers. They are more like the pumpers and dumpers.
a ponzi is where the unit of measure has no function. and is just used as a "store of value"
and where there is no cost to creating it.
in short the PoS crapcoins that dont do anything are ponzi.
but bitcoin 2009-2013 had both a cost of creation (PoW mining) and had the best utility..
but now those that are developing bitcoin core roadmaps and paid by corporate investment (most know their names by now, even if they dont wanna admit they know) are saying that the bitcoin core network has no utility ("it cand scale, yo cant buy coffee, etc etc") thus trying to undermine the utility of the network. and push people onto other networks.
EG, lock btc into LN factories (golds fortknox) and then route to your channel(account) that credits you with value. that you can then credit back when you spend it. if you want to close and still have credit. you will just close channel and the balance goes back to the factory on the LN network and reopening a new channel on the network. (yep thats their latst 2018 concept).. anyone smell how similar that sounds like the dumb crap that happened a century ago with banking/gold
and yes FIAT is a big ponzi.. hyperinflation proves it (research: zimbabwe dollar)
they are also proposing to change from PoW to PoS...
thus effectively removing utility(trying to move function off network) and backing of value(removing mining)... thus they are trying to make bitcoin become a ponzi.. and thats what we need to fight against
now with all that said. im holding btc and hav done since 2012 and have not paniced or set a exit price.
but im dfintly fighting against those that want to restrict bitcoin network utility and as long as we stick with PoW that value of bitcoin will grow (imagine if bitcoin went from a mining cost of $6k-$7k down to a penny cost of PoS... the value would tank)
so yea lets kep bitcoin functional(onchain use) adoptable(cheap fees) and backed(by mining).. then value will go up