They are similar, the main difference is that Ponzi schemes rely on the promise of returns on investments (while being paid out by future investors) where pyramid schemes rely on getting new recruits to bring in the new money.
In a practical sense they are probably interchangeable.
The point I was getting at is that crypto markets operate on "supply and demand" a demand that really only increases as more people sign on, invest money or add value to these systems. Where nothing in them as any real inherent value. (Yes, there's value in the algorithm, the exchanges, the similarity to currencies in transactions, but if the blockchain shut down for whatever reason that value evaporates with it).
Closer to a ponzi scheme, but not far off either way.
I think my record was around 1$, unless you count giveaways then 2.50$
Best to treat the platform as a free blog host and not even think about the money.
wasn't Ponzi the name of a guy who was famous for running a Pyramid Scheme. thought they were same thing
They are similar, the main difference is that Ponzi schemes rely on the promise of returns on investments (while being paid out by future investors) where pyramid schemes rely on getting new recruits to bring in the new money.
In a practical sense they are probably interchangeable.
The point I was getting at is that crypto markets operate on "supply and demand" a demand that really only increases as more people sign on, invest money or add value to these systems. Where nothing in them as any real inherent value. (Yes, there's value in the algorithm, the exchanges, the similarity to currencies in transactions, but if the blockchain shut down for whatever reason that value evaporates with it).
you mean the russian guy who started mmm