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Forget "central actors" or whatever. A ponzi scheme is a description of a certain type of fraud. We can reduce it to it being the fraud of claiming new capital
by bena 5y ago
Forget "central actors" or whatever.
A ponzi scheme is a description of a certain type of fraud. We can reduce it to it being the fraud of claiming new capital as investor dividends. It's a little more complex, but at its heart, that's what you got to do.
If there is no lie about the source of the money, it's not technically not a ponzi scheme.
- perl4ever 5y agoIf that's your definition, fine, but lots of people use it in a looser sense and have forever. Nobody wins in an argument over which definition of a word or phrase is correct. Whatever happened to the debates over whether something was ironic?
- bena 5y agoThat argument can be used in a lot of contexts where people wouldn't. Regardless/irregardless, literally, gif, decimate, etc. And I'm not saying don't say it's like one, I'm just saying it's technically not one.