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>Nearly every MML post on HN is filled with comments deriding the usefulness of ponzi schemes, and yet we still pretty frequently see governments attempt to ban
by vadansky 5y ago
>Nearly every MML post on HN is filled with comments deriding the usefulness of ponzi schemes, and yet we still pretty frequently see governments attempt to ban and outlaw them. Interesting.
Not saying BTC is that, but just because the government is against it doesn't mean it's suddenly useful
- jl2718 5y agoI think the Bitcoin crowd would welcome government involvement if it were solely for the purpose of consumer protection. It would have been easy for Turkey to prevent this, but instead, they turn the victims into criminals. Is there anybody of note in the Bitcoin space that has ever suggested that custodial arrangements of crypto should be completely without legal or technical means of protection for depositors? No. But there is almost nothing that any government on earth offers for that kind of assurance to the consumer. Conversely, they have all established legal and technical means that they may confiscate deposits. They’re not doing anything to stop this ‘ponzi scheme’. They’re just making sure they can profit from it.