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Here's the definition: https://www.investopedia.com/terms/p/ponzischeme.asp https://www.investopedia.com/terms/p/ponzischeme.asp I think the point is that the
by carlivar 4y ago
Here's the definition:
https://www.investopedia.com/terms/p/ponzischeme.asp https://www.investopedia.com/terms/p/ponzischeme.asp
I think the point is that there are more structures out there like this than we think. Social Security for example. Just do a web search and you'll see it's a rather mainstream question. Also there are so many unfunded public pensions that could meet the definition.
Perhaps the difference is transparency. We know these public programs are currently in bad shape, but private schemes are completely opaque until they collapse.
- skinnymuch 4y agoSocial security is brought up all the time as a Ponzi scheme. Do you have examples that aren’t represented well? To prove the point.
- SideQuark 4y agoSocial Security isn't a Ponzi scheme. It's not hiding how it's funded, has accurate transparent accounting, and isn't misleading anyone about it. It's more like insurance. Pay as you go isn't a Ponzi scheme.
- panarky 4y agoThen Bitcoin isn't a Ponzi scheme either. It doesn't hide anything, it's far more transparent than Social Security, it doesn't mislead anyone.
- SideQuark 4y agoI didn't call Bitcoin a Ponzi scheme. It's more of a pump and dump scheme where people extol made up virtues to get suckers to put money in, and as demonstrated for well over a decade now, it's a complete financial crapstorm filled with theft, criminal activity, and people stealing incredible sums of money from the unsuspecting. But sure, it's not a Ponzi scheme. It just makes them easier to do to people.