it's just the same ponzi shit as ever.
Discussion
Not a ponzi, just a good old fashioned scam.
i dunno, i say it's a ponzi because part of the schtick is about the primary objective, being resale value, when in fact the value comes from all the sucker buying in, and drains out as the supply of suckers goes away.
i don't think it will have a lifespan beyond a few years, and all the suckers will have dried up.
I think you need to do some more research on what a Ponzi scheme is.
yeah, i guess so. the ponzi operators have to pay dividends to the early ones to keep the suckers coming.
but how long has this one been going? i'm not sure it doesn't qualify as something as stupid as collecting baseball cards really. even if to everyone else it's just a crappy piece of card.
come to think of it. if you take the current scheme, and the original offerers are buying them back at a profit to manufacture the whole thing?
they only have to buy back a percentage of them to keep the people thinking there is a yIeLdZ in it.
it might not strictly qualify as a ponzi scheme but it works a lot like one in its effect.
They are trying to sell one sat for multiple sats. It’s as simple as that. No returns on “held assets” are paid to anyone. It’s like selling a cardboard box for $100 because it’s a “special box”. The buyer isn’t expecting anything else, and the seller isn’t offering anything else.
but hasn't anyone made a profit at the second level yet? or are we still in the first stage and there's still morons going for this??
That is a pyramid scheme, not a Ponzi scheme.