Re:The biggest crypto lending company is a ponzi scheme
by skeeter2020 on Thursday December 09, 2021 @10:13AM
(#29498212)
except the business model for casinos and lotteries is pretty simple: straight-forward mariginal odds that favour the house and maximize throughput. This is not the case with crypto.
Re:The biggest crypto lending company is a ponzi scheme
by ceejayoz on Thursday December 09, 2021 @10:19AM
(#29498279)
Lotteries and casinos also tend to be subject to extremely heavy regulation.
Re:The biggest crypto lending company is a ponzi scheme
by astoor on Thursday December 09, 2021 @10:10AM
(#29498179)
I sometimes liken cryptocurrency coins and tokens to casino chips. They have no intrinsic value, but they do serve a purpose for some people, and drive a multi-billion industry. There are even some people who collect casino chips (exonumismatists). This analogy also suggests that they might not ever completely go away.
Re:The biggest crypto lending company is a ponzi scheme
by nraf on Thursday December 09, 2021 @10:51AM
(#29498777)
You could say (almost) the same thing about fiat money though...
Re:The biggest crypto lending company is a ponzi scheme
by astoor on Thursday December 09, 2021 @01:50PM
(#29501314)
Fiat can be used pretty widely, whereas casino tokens can only be used in casinos and cryptocurrency can only be used within the cryptocurrency ecosystem (noting that casinos and the cryptocurrency ecosystem both need fiat on and off ramps to function).
The funny thing is, I clicked on a few articles about NFT's and the metaverse because I was interested in the programming behind it and now my morning feed is filled with articles about "How to invest in crypto!", "We can tell you how to beat th crypto market!", "Check out these super looking graphs of crypto prices!".