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> introducing artificial tokens, quietly giving a huge number of those tokens to founders and early investors (in exchange for actual money, of course), and th
by galaxyLogic 5y ago
> introducing artificial tokens, quietly giving a huge number of those tokens to founders and early investors (in exchange for actual money, of course), and then hyping the platform to the moon so everyone can cash out their tokens to a new wave of speculators.
In other words a Ponzi-scheme
- throw_nbvc1234 5y agoIt's a ponzi-scheme if there's no value behind the hype. it's not inherently a ponzi scheme. It's the same way in the current private equity start-up world just that only VC's and connected individuals are exposed to the all the risk and all the profit.
- bradgranath 5y agoYeah, it turns our that VC speculation is a load of BS too, and that this is the latest way they're trying to end run around the SEC.
- threeseed 5y ago> It's a ponzi-scheme if there's no value behind the hype But what's the value ? I am still after a few years now trying to understand what it actually is.
- bradgranath 5y agoThere isn't any. Some coins, mebe there's some lulz?? But that's it. Yer lulz worth that much to you?
- galaxyLogic 5y agoYou could say that there is value behind a Ponzi scheme as long as there are more people willing to get onboard the Ponzi scheme. A Ponzi scheme can make a few "early adopters" rich