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The scam is the Ethereum ecosystem itself. It succeeded once again in pulling in a few more millions of real money from retail investors who won’t see their $20
by pavlov 5y ago
The scam is the Ethereum ecosystem itself. It succeeded once again in pulling in a few more millions of real money from retail investors who won’t see their $200 donations again.
Where did the money go? It provided liquidity to the top of the pyramid, of course.
- dragonwriter 5y ago> investors [...] donations one of those is the wrong word.
- unboxingelf 5y ago
- X6S1x6Okd1st 5y agoI generally disagree that willing participants who gave their money without expectation of future return are getting fleeced in this particular project. You don't need to look far to find rugpulls https://twitter.com/RugDocIO https://twitter.com/RugDocIO regularaly tweets out ongoing rugpulls. Interestingly though after a technical change in where gas/txn fees go (EIP-1559) any payment of fees actually does go to all holders of ETH proportionally due to fees fueling deflation. Of course even still this is not like a traditional pyramid scheme, but more similar to stock buy backs being fueled by each individual sale that a company makes.