4 ms·

ICO is the new ponzi scheme

• pc86 9y ago
  Only if you use ponzi scheme (incorrectly) interchangeably with "scam."
  • bandrami 9y ago
    Or correctly, in the sense of "a system that requires constant new investment to achieve payouts"
    • SippinLean 9y ago
      If you think that's all it takes to satisfy the definition of a Ponzi scheme, you're incorrect. That would even be an oversimplification for a Pyramid scheme. I'm not sure why this has to be corrected for every crypto thread on HN. We get it, someone has to comment on every crypto post "Ponzi scheme," "tulips," or the like (regardless on whether or not such a generic comment is especially relevant to the thread) but simply calling it a "scam" gets the unoriginal point across without making you seem so misinformed.
      • bandrami 9y ago
        Equally, "your side" could save a lot of time by saying "This asset bubble is different" and leaving it at that.
    • literallycancer 9y ago
      Kind of like pension systems in most countries?
      • bandrami 9y ago
        Largely, which is why we keep reminding people they are social insurance programs, not investments. The state has guns, and can mandate the continued investment
• deleted 9y ago
  [deleted]