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0 pointssouthernplaces71y ago0 comments

>I don't get the crime part for the most part.

Neither do many of the people who say such a thing here. Instead they regurgitate classic HN talking points around crypto without really considering their logic.

Simple example: calling something like bitcoin a "ponzi scheme" when it's literally run by nobody in particular and has no specific fraudulent promotion being done by its administrators (since there are none) for the sake of personal gain through redirected funds.

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TZubiri1y ago

I do think that there' nuances to crypto. But even bitcoin has some ponzi like properties:

1- high reward to early adopters 2- needed to be shared to have value

Although I will make the important distinction that the asset doesn't lose value once it can no longer be shared, which is typical of pyramid schemes. Quite the contrary, it reached critical mass and gained first mover monopoly

rsynnott1y ago

_Bitcoin_ isn't a Ponzi scheme, though it does tend to behave a little like one. Many of these memecoins are, essentially, intentional Ponzi schemes, tho.

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