If you can believe it, scams and Ponzi schemes have existed and thrived in the cryptocurrency industry well before the recent speculative exuberance around decentralized finance (DeFi), non-fungible tokens (NFTs) and token launches on blockchains like Binance Smart Chain. For sure there are a lot of sketchy “profile pic” projects (PFPs) and questionable economic games played … [Read more...] about Is Crypto a Ponzi? Define 'Ponzi'
Yes, it’s a Ponzi scheme. But who cares? So are the dollars in your pocket.If you haven’t heard about it, Olympus DAO is a decentralized finance (DeFi) protocol whose primary use case seems to be “making people extremely angry.” Skeptics argue that its core functionality – a staking scheme currently yielding over 7,000% APY via new OHM token mints – is unsustainable to the … [Read more...] about Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi)
Well-known risk analyst and “Black Swan” author Nassim Nicholas Taleb seemingly changed his previously positive attitude toward Bitcoin, calling it a “gimmick” and an “open Ponzi scheme” during an interview with CNBC’s Squawk Box yesterday.“[Bitcoin] has characteristics of an open Ponzi, everybody knows it’s a Ponzi,” Taleb said. “Basically, there’s no connection between … [Read more...] about Bitcoin is an ‘open Ponzi scheme,’ says ‘Black Swan’ author
Dogecoin (DOGE) surged by 88% today to over $0.13, setting a new all-time high and gaining a $16 billion valuation, data from multiple sources shows.The currency is intrinsically valueless and is intended to have absolutely no use, save the memes and jokes.Doge up 69%…. Nice pic.twitter.com/Hm0FaDDjve— Valkia (@officialvalkia) April 14, 2021The day DOGE jumpedAs the below image … [Read more...] about Dogecoin jumps 88% in a single day to $0.13, reviving Ponzi fears
Does Bitcoin meet the definition of a Ponzi scheme? This is the subject of the latest Cointelegraph Crypto Duel, where Bitcoin strategist at Kraken meets professor of computer science at the University of Campinas, Jorge Stolfi. Similar to other Bitcoin skeptics, Stolfi repeatedly defined Bitcoin as a Ponzi scheme. The core of his argument is that Bitcoin doesn’t produce any … [Read more...] about Is Bitcoin a Ponzi scheme? Pick your side in the latest Cointelegraph Crypto Duel!