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It seems like they're putting THIS IS A PYRAMID SCHEME on top and people are still buying into it. (Admittedly, pyramid schemes usually do work if you're the o

It seems like they're putting THIS IS A PYRAMID SCHEME on top and people are still buying into it. (Admittedly, pyramid schemes usually do work if you're the one starting them and you don't get caught. It's also nice to see someone starting a pyramid scheme that doesn't involve blockchains for a change :) ) One thing that makes me skeptical about this post is talking about "sweeping instagram" in the title and "hype" in the post, but the best evidence for how wide it's spread they can muster is > The trend has been picking up speed over the last few weeks. My colleague, Danielle and I, could only find examples on Instagram stories but it’s entirely possible that it’s spreading on Snapchat too and we just don’t have the right friends. Like other supposed worldwide youth crazes, until I see better numbers it could be that something like 100 (ok, 128) people in the whole world have done this and it's not half as big as it's claimed to be.

mrguyorama 9y ago
The problem is that pyramid schemes need to be stopped ASAP to limit the damage they do.
- 55555 9y ago
  There isnt much damage. No money is lost, it just moves. Admittedly into fewer hands. The damage is mostly capped at $150 or so, I would imagine. Normally in a ponzi there is a pretense of a business that you are funding and so you can really empathize with those who were fooled, but no one is being fooled here. They know the risks. This is a ponzi game, not a ponzi. It's social gambling.
  - colanderman 9y ago
    > No money is lost, it just moves. Admittedly into fewer hands. The damage is mostly capped at $150 or so, I would imagine. I mean, that describes literal robbery too.
    - crapitalism9 9y ago
      >> No money is lost, it just moves. Admittedly into fewer hands. > I mean, that describes literal robbery too. I mean, that describes capitalism pretty well too.
    - SolarNet 9y ago
      Nah man, what if there are like 3 robbers. Then the money moved into more hands (I guess if some of the robbers only had like one hand though...). Pyramid schemes aren't a scam because it's fewer hands.
munificent 9y ago
The linked tweet mentioning it[1] has 500+ retweets and 1k+ likes, so presumably a lot of people know about it. [1]: https://twitter.com/itsdreebetch/status/953111010092621824 https://twitter.com/itsdreebetch/status/953111010092621824

mrguyorama 9y ago

The problem is that pyramid schemes need to be stopped ASAP to limit the damage they do.

55555 9y ago
There isnt much damage. No money is lost, it just moves. Admittedly into fewer hands. The damage is mostly capped at $150 or so, I would imagine. Normally in a ponzi there is a pretense of a business that you are funding and so you can really empathize with those who were fooled, but no one is being fooled here. They know the risks. This is a ponzi game, not a ponzi. It's social gambling.
- colanderman 9y ago
  > No money is lost, it just moves. Admittedly into fewer hands. The damage is mostly capped at $150 or so, I would imagine. I mean, that describes literal robbery too.
  - crapitalism9 9y ago
    >> No money is lost, it just moves. Admittedly into fewer hands. > I mean, that describes literal robbery too. I mean, that describes capitalism pretty well too.
  - SolarNet 9y ago
    Nah man, what if there are like 3 robbers. Then the money moved into more hands (I guess if some of the robbers only had like one hand though...). Pyramid schemes aren't a scam because it's fewer hands.

munificent 9y ago

The linked tweet mentioning it[1] has 500+ retweets and 1k+ likes, so presumably a lot of people know about it. [1]: https://twitter.com/itsdreebetch/status/953111010092621824 https://twitter.com/itsdreebetch/status/953111010092621824