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Does that not describe crypto? Bitcoin is only making millionaires if more and more late investors are buying in and driving up the price for earlier investors.
by bart_spoon 5y ago
Does that not describe crypto? Bitcoin is only making millionaires if more and more late investors are buying in and driving up the price for earlier investors.
- rsynnott 5y agoA true Ponzi scheme requires intent and organisation (at least at some point; some things normally categorized as Ponzi schemes start off with the intent of being legitimate hedge funds or similar). Crypto things, particularly bitcoin, tend to behave rather like a self-organizing Ponzi scheme, but pedantically, they're not one, quite.
- bart_spoon 5y agoThere's a joke in there about crypto and decentralization.