this post was submitted on 21 Sep 2023
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That's not how pyramid schemes work, the ones at the top never collapse, only the ones at the bottom end up holding the bags. GIF NFTs are pyramid schemes.
Ponzi schemes on the other hand, are the quintessential representation of fractional reserve: creditors get paid with new investors, until there is a bank run; you want to get out before that happens. USD is a Ponzi scheme, just like all currencies, including cryptos.
That's a currency.
Let me introduce you to FOREX Futures and intraday HFT. There is also Crypto futures, but who's counting.