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Have we ever had a Ponzi scheme that consumed this much of the world's resources (relatively speaking)? And I'm not talking about money going in, just resource
by AceJohnny2 8y ago
Have we ever had a Ponzi scheme that consumed this much of the world's resources (relatively speaking)?
And I'm not talking about money going in, just resources used to maintain it.
Tangentially, it's really interesting and fun to read about real historical bubbles and scams. For example:
https://en.wikipedia.org/wiki/South_Sea_Company https://en.wikipedia.org/wiki/South_Sea_Company
https://en.wikipedia.org/wiki/Gregor_MacGregor#Poyais_scheme https://en.wikipedia.org/wiki/Gregor_MacGregor#Poyais_scheme
- SippinLean 8y agoBitcoin's protocol has no central actor to disproportionately redistribute new investors' money to old investors, a Ponzi scheme would be impossible.
- api 8y ago... or alternately all money is a Ponzi scheme. Take your pick.
- jadedhacker 8y agoSo there's not even a logical organizing principle that would actually benefit someone, it's just collective insanity. There's still no obvious application of Bitcoin. This is just slavish alter building to the god of markets.
- deleted 8y ago[deleted]