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I think people underestimate how long fraudulent / ponzi schemes can last. Madoff's ponzi scheme ($65B) went unnoticed for ~50 years until a whistleblower got t

I think people underestimate how long fraudulent / ponzi schemes can last. Madoff's ponzi scheme ($65B) went unnoticed for ~50 years until a whistleblower got the SEC to take notice, and it could have potentially gone on a while longer if that hadn't happened. There's a lot more money in the crypto-sphere, and no great way to regulate. I wouldn't be surprised if lots of these entities are able to run on for 100+ years before they implode.

zucker42 5y ago
This is not quite factually accurate with regards to Bernie Madoff. The SEC ignored the whistleblower Harry Markopolos, and the fraud wasn't revealed until the fund became insolvent many years later (7-8 years after Markopolos originally suspected fraud). After he couldn't meet investor redemptions, Madoff confessed to his sons, who subsequently called lawyers and alerted the SEC. Doesn't change the point of your post though.