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Specifically? Maybe not. If it were a Ponzi scheme I think all of that dark bitcoin supposedly held by "Satoshi" would have been converted to real money a long
by thereddaikon 5y ago
Specifically? Maybe not. If it were a Ponzi scheme I think all of that dark bitcoin supposedly held by "Satoshi" would have been converted to real money a long time ago.
But cryptocurrency and derived technologies like NFTs are for the most part scams in the general sense. The type of scam varies but the system is ideal for the unscrupulous to fleece the get rich quick, tech illiterates who think they are smarter than they really are.
- dqpb 5y agoThe problem (on HN) is that the hype-ignorance runs both directions. Tech-literates see the tech-illiterates getting scammed, and thereby extrapolate that the technology is fundamentally a scam, which is absurd. Data structures, protocols, algorithms, exist at an abstraction layer below that of socio-economic-marketing scams.