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Re:Former US SEC attorney: 'Get out of crypto platforms now' by throwme_123 on Tuesday June 20, 2023 @07:25PM (#36412183)
Wow. Both parent and grand-parent seem wrong.

GP: Bitcoiner, dooming everything else.

Parent: Anti-crypto (the majority here), up to the point on comparing Bitcoin (which might be a bubble, that's not the point here) to a Ponzi (that it is not: Supply is fixed, there is no new deposits paying previous depositors).

Re:Former US SEC attorney: 'Get out of crypto platforms now' by peteradio on Tuesday June 20, 2023 @07:32PM (#36412244)
What's the difference if you are getting payout from a bigger fool?
Re:Former US SEC attorney: 'Get out of crypto platforms now' by dvt on Tuesday June 20, 2023 @07:45PM (#36412359)
There's no such thing as "payout" in free markets—someone buys your thing for money (sometimes less money than you paid for it, sometimes more money than you paid for it). So, while it might be a speculative bubble (like Beanie Babies, or Tulips, or whatever), it's certainly not a Ponzi. Also, the bigger fool theory (which is what you're conflating it with) is also not a Ponzi.

This might be confusing, because many other crypto products are very Ponzi-like. For example, Voyager literally paid new "stakers/depositors" (a.k.a. investors) with old "stakers'/depositors'" (a.k.a. investors') money to reach the insane return rates they were advertising.

Re:Former US SEC attorney: 'Get out of crypto platforms now' by peteradio on Tuesday June 20, 2023 @08:29PM (#36412741)
Who the hell cares. If it's a pump and dump of fundamentally worthless stuff relying on bigger fools, it's all the same.
Re:Former US SEC attorney: 'Get out of crypto platforms now' by tasuki on Tuesday June 20, 2023 @10:06PM (#36413482)
I care. You made a claim, were given a thoughtful explanation why your claim was wrong, and you don't care. Not cool.
Re:Former US SEC attorney: 'Get out of crypto platforms now' by peteradio on Wednesday June 21, 2023 @07:40AM (#36417221)
I made no claim. I asked whats the difference and got a pedantic explanation of what a ponzi scheme technically is, like anyone whose been in one of these threads hasn't already heard that same pedantic explanation. Who cares? It really doesn't matter if its a ponzi scheme or a pyramid scheme or some other scheme. What is transparently obvious is there is nothing there there and eventually the music stops and leaves the bigger fools holding the bag.
Re:Former US SEC attorney: 'Get out of crypto platforms now' by tasuki on Wednesday June 21, 2023 @02:50PM (#36422677)
Fair enough. My bad.
Re:Former US SEC attorney: 'Get out of crypto platforms now' by bandrami on Tuesday June 20, 2023 @10:25PM (#36413628)
> there is no new deposits paying previous depositors

Huh? Every time somebody buys a coin with fiat that's a new deposit paying a previous depositor.

Re:Former US SEC attorney: 'Get out of crypto platforms now' by nootropicat on Tuesday June 20, 2023 @10:29PM (#36413647)
A ponzi is any system in which the only way for older buyers to cash out is at the expense of later investors. How is 'supply is fixed' relevant?