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Even if cryptocurrency isn't a Ponzi itself, cryptobros and definitely responsible. The same bad economics promoted by crypto enthusiasts that made it so popula
by Aunche 4y ago
Even if cryptocurrency isn't a Ponzi itself, cryptobros and definitely responsible. The same bad economics promoted by crypto enthusiasts that made it so popular were the same arguments that Celsius used to get popular.
- Hippocrates 4y agoI am conflicted on the definition of a ponzi. It seems to me that there are ponzi dynamics at play but sometimes the intent that makes it a "scheme", ala Bernie Madoff, with ringleaders is not always there. In this case there is Maschinsky with a lucrative insider exit, but was that planned all along, and did he cause the collapse that influenced his exit? I think not.
- magnusss 4y agoHe didn’t cause the collapse, but he failed to deliver on his promise to his customers that Celsius was structured to protect their savings from market volatility. In fact, the promise was fake — it was never possible to fulfill, from the outset.