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I think this whole story is hilarious, because the only reason OneCoin is considered a scam and other coins not is because they had fewer obtuse crypto layers o
by skrebbel 4y ago
I think this whole story is hilarious, because the only reason OneCoin is considered a scam and other coins not is because they had fewer obtuse crypto layers of smoke and mirrors.
For decades onwards, people will remember that if you want to run a ponzi scheme or similar without getting locked up, you just gotta make it needlessly complicated.
- paulryanrogers 4y agoDoesn't this follow? The more transparently fraudulent the more likely to be prosecuted? Hence the layers of shell companies or complexity to obscure the fraud. Possibly even going as far as self deception.
- effingwewt 4y agoHaha it feels like you perfectly described our entire financial system. If you wanna run a scheme and not get locked up, just make it needlessly complicated! Originally people wanted decentralized finance to get away from the grifting and complications of our financial system. Yet it's all scams and companies in trouble crying for help and/or regulation.
- ellopoppit 4y ago"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it." -John Kenneth Galbraith
- ReptileMan 4y agoExistence of MLM shows that people knew this in decades prior.