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> his business as a literal Ponzi scheme Imagine being this uninformed and wanting to seriously have a conversation about crypto and the underlying fundamental
by dvt 4y ago
> his business as a literal Ponzi scheme
Imagine being this uninformed and wanting to seriously have a conversation about crypto and the underlying fundamentals. We get it, you hate crypto. Why even bother at this point?
- paulgb 4y agoMatt Levine is pretty informed IMHO, and he interpreted SBF's explanation of yield farming as describing a Ponzi scheme. > I think of myself as like a fairly cynical person. And that was so much more cynical than how I would've described farming. You're just like, well, I'm in the Ponzi business and it's pretty good.
- dvt 4y agoYes, yield farming is a ponzi (though technically it's the greater fool theory). SBF's company (FTX) is certainly not a ponzi.