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.
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.