3 ms·

Nothing. It is all a pyramid scheme so literally do whatever you want. I'm surprised someone hasn't written a script to copy existing ones and re-upload with a

Nothing. It is all a pyramid scheme so literally do whatever you want. I'm surprised someone hasn't written a script to copy existing ones and re-upload with a lower price.

watewat 5y ago
Buying your own goods counts as a "pyramid scheme" now? That would be market manipulation. A pyramid scheme recruits members via a promise of payments or services for enrolling others into the scheme, and not in an abstract sense. The usual "crypto bad" argument is calling it a Ponzi scheme. This doesn't count as one of those either, but no one really cares.
- earthtolazlo 5y ago
  It’s wash trading to be exact, but that’s not really the point. The crypto markets as a whole have strong pyramid/ponzi scheme elements where most people are buying useless tokens with the sole intention of later selling them for a higher price to someone else. Not to mention obvious Ponzi schemes like Tether that provide much of the fake liquidity that feeds this mania.
  - watewat 5y ago
    > buying useless tokens with the sole intention of later selling them for a higher price Also not a pyramid or Ponzi scheme (as you probably know) or much different than Beanie Babies. This is how capitalism is supposed to work. > Not to mention obvious Ponzi schemes The obvious ones are the ones which actually are Ponzi schemes (eg BitConnect, PlusToken).
  - basch 5y ago
    >obvious Ponzi schemes like Tether a ponzi scheme pays out dividends or interest from deposits. unless tether is taking money from tether sales and paying it out to holders a kickback, it doesnt fit the definition. printing shares of tether and having more shares out than underlying collateral (which im not accusing them of doing) is just fractional reserve lending...
basch 5y ago
Buying a copy by the wrong author is meaningless though, or should be. When something is part of a limited edition run or a small batch production or a collection, buying a duplicate that isnt signed by the authors is "worthless." Unless for some reason the forgery manages to obtain its own fame and value.

Nothing. It is all a pyramid scheme so literally do whatever you want. I'm surprised someone hasn't written a script to copy existing ones and re-upload with a lower price.

watewat 5y ago

Buying your own goods counts as a "pyramid scheme" now? That would be market manipulation. A pyramid scheme recruits members via a promise of payments or services for enrolling others into the scheme, and not in an abstract sense. The usual "crypto bad" argument is calling it a Ponzi scheme. This doesn't count as one of those either, but no one really cares.

earthtolazlo 5y ago
It’s wash trading to be exact, but that’s not really the point. The crypto markets as a whole have strong pyramid/ponzi scheme elements where most people are buying useless tokens with the sole intention of later selling them for a higher price to someone else. Not to mention obvious Ponzi schemes like Tether that provide much of the fake liquidity that feeds this mania.
- watewat 5y ago
  > buying useless tokens with the sole intention of later selling them for a higher price Also not a pyramid or Ponzi scheme (as you probably know) or much different than Beanie Babies. This is how capitalism is supposed to work. > Not to mention obvious Ponzi schemes The obvious ones are the ones which actually are Ponzi schemes (eg BitConnect, PlusToken).
- basch 5y ago
  >obvious Ponzi schemes like Tether a ponzi scheme pays out dividends or interest from deposits. unless tether is taking money from tether sales and paying it out to holders a kickback, it doesnt fit the definition. printing shares of tether and having more shares out than underlying collateral (which im not accusing them of doing) is just fractional reserve lending...

basch 5y ago

Buying a copy by the wrong author is meaningless though, or should be. When something is part of a limited edition run or a small batch production or a collection, buying a duplicate that isnt signed by the authors is "worthless." Unless for some reason the forgery manages to obtain its own fame and value.