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Re:SEC charges GAW Miners and ZenMiner as a Ponzi scheme [pdf] by scoot on Tuesday December 01, 2015 @07:31PM (#10659997)
Ponzi rather than pyramid scheme, but otherwise I agree.

(A ponzi scheme paying current investors from the funds contributed by incoming investors, as distinct from a pyramid scheme where payouts are typically in return for recruitment of others to the scheme.)

Re:SEC charges GAW Miners and ZenMiner as a Ponzi scheme [pdf] by JoshTriplett on Tuesday December 01, 2015 @08:58PM (#10660375)
Fair enough, though the two are often combined (paying the top of the pyramid from the bottom).