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I read an interesting thread on why this isn't a pyramid scheme. Basically there's no one at the top. It's decentralized so there's a loose federation of edges
by tootie 4y ago
I read an interesting thread on why this isn't a pyramid scheme. Basically there's no one at the top. It's decentralized so there's a loose federation of edges arranged in a many-sided polygon. So we need a new name. Instead of Ponzi, this is a Nakamoto Scheme.
- oblio 4y agoThat's much better. It's not a monopoly, it's an oligopoly :-)
- abruzzi 4y agoDePy - decentralized pyramid. I say this in jest. There are more than one reason to be interested in crypto, but when bitcoin suddenly went from 1BTC=USD$1 to $1BTC=USD$100 (I don't actually know when the boom happened--I wasn't watching that closely) the individualist, libertarians were obscured by the quick-buck types looking to turn their thousand into a million. Thats when the scammers all came out.