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" Ponzi scheme (also a Ponzi game or aPonzi)[1] is a fraudulent investment operation where the operator, an individual or organization, pays returns to its inve
by rndstr 10y ago
" Ponzi scheme (also a Ponzi game or aPonzi)[1] is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources." --Wikipedia
- mikeryan 10y ago"The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants.[1] A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.[2][3][4] In other words, one may pay a price that seems "foolishly" high because one may rationally have the expectation that the item can be resold to a "greater fool" later." :-)