We are not discussing how it's traded we are discussing why it is or isn't a ponzi.
Comp Sci prof who doesn't think much of crypto
- Thread starter tango29
- Start date
Yes. So? Nobody bought TSLA, because they think it is worth more than Toyota and Ford, they bought it because they thought they can time the top and pass it on to the greater fool. Some was able, most didn't.
Last edited:
Oh really? So you admit to stating something you know and understand to be a lie?? You admit that you are a malicious liar??
No need to argue, there are things called facts. Just because there are shitty and/or overvalued stocks, that doesn't mean that most/all of crypto isn't shit. That simple.
It is but if you want to ride the schemantics horse, let's call it kwonzi. In a kwonzi, early investors are paid off by latecomers who keep pushing up the price of the crypto. Without constant incoming cashflow the system collapses. Sounds like a ponzi to me, but again, I am a nice guy so let's stick to kwonzi. I am sure you know where the name came from.
Geez !! Look at the whole conversation.
That's what I like about you John. When you don't have an answer you attack the poster.
Of course. But that wasn't the point. Regardless, we're quibbling over details. We both think cryptos are a scam.
That's what I like about you, deaddog, when caught red-handed try to deflect and ignore the very lie that you keep repeating over and over and over and over
The scam has fooled a lot of people. The sheer number of people who have fallen for it makes it even more legit in their eyes. They think "how can it be scam if so many people believe in it?". It will go down in the history. It is worthy of being included in the book "Extraordinary Popular Delusions and the Madness of Crowds"
If nothing else, you can always count on Frederick Foreskin for an asinine, drive-by comment that completely misses the point!