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You're quoting from the Birch-Kaminska circle, which has been bashing cryptocurrency since 2012. A ponzi scheme is where people pay a fee to join a scheme wher
by Jabanga 9y ago
You're quoting from the Birch-Kaminska circle, which has been bashing cryptocurrency since 2012.
A ponzi scheme is where people pay a fee to join a scheme where members are guaranteed a payment that comes out of the membership fees paid by members that join after them.
No token sale has given out payments, let alone guaranteed one. A speculative price gain is not a "ponzi scheme".
- AJRF 9y agoSo tell me, what is the goal of an ICO? And by extension, how do you ensure an ICO is successful?
- Jabanga 9y agoWhatever the goal, unless they guarantee you a payment and fund that payment with membership fees paid by later entrants, it's not a ponzi scheme.
- AJRF 9y agoWhat are you talking about membership fees? That isn't the criteria for all Ponzi schemes you know? You don't sound like you know what a Ponzi scheme is.
- Jabanga 9y agoIt's you who doesn't know what a Ponzi scheme is. A Ponzi schemes requires new members to pay a fee to join. From Wikipedia: >is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities. The operator pays revenue to those who joined earlier with the fees received from those who joined later.