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Lending money (with interest obviously) is a ponzi scheme. It's not surprising to be honest, and this shouldn't be news. We've known this for literally thousand

by azth 5y ago

Lending money (with interest obviously) is a ponzi scheme. It's not surprising to be honest, and this shouldn't be news. We've known this for literally thousands of years now. It has nothing to do with crypto currencies per se.

infecto 5y ago
Can you explain the math on how lending money is a ponzi scheme? I don't entirely understand.
- azth 5y ago
  We saw what happened in the 2008 crash. Selling debt for debt, facilitated only by lending money at non zero interest, caused a huge chain to come to existence. Once the first domino tipped, everything came crashing down.
roywiggins 5y ago
Ponzi schemes don't lend money to anyone, they just shuffle money from late investors to early investors.
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