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I've gotten confused in the metaphors here. Do you think that with the collapse of every ponzi scheme that the next ponzi scheme is somehow less ... scheme-y?
by Balgair 4y ago
I've gotten confused in the metaphors here.
Do you think that with the collapse of every ponzi scheme that the next ponzi scheme is somehow less ... scheme-y? I'm not even sure what that really means, but it seems to me that ponzi schemes, by definition, always go to 0 in the long run. There are no foundations, just greed and misery.
Can you clarify?
- pcthrowaway 4y agoThe ponzis are being built by people on top of slowly evolving layers of useful technology. Of course the actual building isn't tied to the hype cycles, but from the perspective of most people it's just ponzis swelling and bursting. There is real innovation happening though, fuelling the FOMO every time another bubble forms.