Yes, there is need for a central authority, Charles Ponzi for example. They acti... | Hacker News

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JxLS-cpgbe0 on Dec 3, 2020 | parent | context | favorite | on: S&P Dow Jones Indices to launch cryptocurrency ind...

Yes, there is need for a central authority, Charles Ponzi for example. They actively and consciously channel the funds from new, defrauded investors, to that authority.

BTC is not a Ponzi Scheme ; Satoshi is not steering the profits from a pump-and-dump. Passively profiting off new investors buying BTC does not make a Ponzi Scheme.

Market manipulation is not a Ponzi Scheme. A Pyramid Scheme is not a Ponzi Scheme. "Ponzi Scheme" has a real definition.

dandanua on Dec 3, 2020 [–]

Agree, I've used it in a more general sense. I mean it's just like a pyramid.

JxLS-cpgbe0 on Dec 3, 2020 | [–]

It's not a Pyramid Scheme either, there is no central authority. The benefits of a Pyramid scheme are specifically not investments, but instead explicitly payments for recruiting. Pyramid Scheme also has a real meaning.

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