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0 pointsRaketenStadt4y ago0 comments

Why isn't "the operator of the scheme" synonymous with "the central actor?"

Either:

    1. I'm trying to dodge the label "Ponzi scheme" for a reason you haven't provided (maybe you think I have millions invested in this shitcoin?)
    2. This isn't a Ponzi scheme, and you don't know what a Ponzi scheme is

Which explanation is simpler?

0 comments

shkkmo4y ago

> Why isn't "the operator of the scheme" synonymous with "the central actor?"

There can be multiple operators.

I see zero good reasons why decentralized schemes can't be ponzi schemes.

Your argument is akin to claiming that a three legged dog is not a dog because dogs have four legs.

I wouldn't be so uncharitable as to presume to know why you have chosen to make this argument.

I think your argument would be clearer if you took a step back and explained why you think that "central actor" is such a critical part of the meaning of "ponzi scheme" rather than a incidental feature common to ponzi schemes.

RaketenStadtOP4y ago

So why isn't "the operator of the scheme" synonymous with "the central actor?"

>I see zero good reasons why decentralized schemes can't be ponzi schemes.

Do you know who Charles Ponzi was or why Ponzi schemes are named after him?

Do you know what he did or what Bernie Madoff did? They operated the Ponzi scheme. That's why they were a critical part.

This money really was going into the smart contract, wasn't directly given to old investors, wasn't being siphoned directly into the operator's pocket, all unlike a Ponzi.

You don't know what a Ponzi is and you're trying to save face, I get it.

> $272 million worth of USDC is still locked up in in the contract. Why hasn’t everyone recovered their 74 cents?

Why didn't the masterminds behind this scheme walk away with that cash? Because it was a mistake. Not a genius scheme being run in the shadows.

shkkmo4y ago

You should work harder on understanding what other people are saying. I've tried to give you the benefit of the doubt several times but your tone keeps getting worse.

> Why didn't the masterminds behind this scheme walk away with that cash? Because it was a mistake. Not a genius scheme being run in the shadows.

Please fet your basic facts right. Nobody in this thread is accusing IRON of being a ponzi scheme. IRON was a partially collaterized stablecoin. The quote about how non-collateralized stable coins require constant growth is from the founders of IRON explaining why they made IRON collaterized.

> So why isn't "the operator of the scheme" synonymous with "the central actor?"

Already explained in my last comment.

> You don't know what a Ponzi is and you're trying to save face, I get it

If you really thought you had an argument, you wouldn't feel the need to descend to this level.

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