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RE: Don't Get Tricked, Bro: How to Recognize a Ponzi Scheme (and does Steemit qualify?)

in #scams9 years ago

Glad I wasn't affected by the Bernie Maddoff Ponzi. But the same could be said about the stock market too stocks only have a value as long as people trade them for money and believe in the company they invest in. What makes stocks more valuable is if their profits keep rising people keep investing and hedge funds keep putting funds into it from Ira's and 401k's. You think you could compare cryptocurrency more to the stock market then a Ponzi, because new people are born everyday that create future investors and some people hoard their coins and won't sell like someone hoarding stock in a company. And some investors will lose their coins by death and those coins will never be traded just lost for eternity. And who knows maybe in 5 or 10 years Steemit might have a ETF on the stock market like Bitcoin does now.

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