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Re:$130B wiped off crypto markets in 24 hours by manfredz on Monday January 24, 2022 @10:12AM (#30058569)
It's not a Ponzi scheme. It's a multi-level marketing or pyramid scheme. A percentage of every sale (transaction fees) of crypto goes to the other coin owners of the crypto. For every crypto coin it works slightly different. For Bitcoin, the original design was that everybody could be a miner and (potentially) receive transaction fees. Now it's in the hands of a few with the computing power.

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