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title could be: "nerd tunnel vision" lead me to work in a Ponzi scheme. Many many years ago Ethereum /smart contract hackathons way were more innocent, at leas
by latenightcoding 3y ago
title could be: "nerd tunnel vision" lead me to work in a Ponzi scheme.
Many many years ago Ethereum /smart contract hackathons way were more innocent, at least most participants acknowledged they were working on something useless but fun.
A Ponzi scheme still a Ponzi scheme even if it's using Rust.
- _gmax0 3y agoGive the author a break, he/she is 21.
- latenightcoding 3y agoI am giving them an out.
- jgilias 3y agoNot every bad person is a Nazi and not every scam is a Ponzi scheme. Most crypto scams are the equivalent of an old school pump and dump on a penny stock. That’s not a Ponzi scheme.
- pavlov 3y agoIt’s not so entirely different though. Early investors in a pump and dump can make a tidy profit, just like early investors in a Ponzi. The main difference is the lifecycle: the dump is fairly quick and sudden, as the name implies, while the Ponzi can keep digging a hole for decades if it can reach a sufficiently large or wealthy base of fresh investors.
- xk_id 3y agoWow I’m surprised someone else noticed the parallel between the overuse of these two terms. I feel their meaning became very diluted because of it. They’re good examples of semantic satiation [0]. [0] https://en.wikipedia.org/wiki/Semantic_satiation https://en.wikipedia.org/wiki/Semantic_satiation