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It’s not a Ponzi scheme at all. What it is is the manifestation of the Greater Fool theory. The only reason you buy it is because of the expectation that some
by baskethead 5y ago
It’s not a Ponzi scheme at all.
What it is is the manifestation of the Greater Fool theory. The only reason you buy it is because of the expectation that some fool greater than yourself will pay an even higher price that you.
And if BTC is that, then NFTs are the Greater Fool theory to the second power.
- arcticbull 5y agoThis is the claim Lynn was responding to, and it make a compelling argument that this is a Ponzi scheme with a fresh coat of paint. [1] [1] https://ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin-ponzi.html https://ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin-pon...