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RT @imcivicaction@twitter.com
We've said it before and we'll say it again: Crypto is a giant Ponzi scheme.
: https://twitter.com/imcivicaction/status/1590929701069279232
@rbreich It is also a horrendously wasteful use of energy.
@rbreich This is a great video. Even better for it being so Tim and Eric Awesome Show Great Job. 
@rbreich the biggest Ponzi scheme, one might even say. Well, outside the stock market.
@rbreich even worse, it's a Satoshi scheme.
The way things are headed, Satoshi schemes will soon replace Ponzi schemes as the most common scam.
Ponzi's rely on centralized organizations, who have to pay or bribe influencers and manage the scheme. Satoshi schemes take far less capital to get started and can be more upfront with the scheme. Influencers don't need to be paid up front to do your marketing because they are opting into the scheme.
@rbreich But - but -but millions made millions while the bubble was booming. I had the chance to get into bitcoin on the ground floor. If I had thrown in, I would be a near billionaire right now. That hurts...but since I knew I would be making my nut at the expense of the bigger fools, I stayed away. Virtue can be very expensive.
@rbreich what are your thoughts on the proposal of defi being the solution to problems that plague cefi in crypto? Do you think crypto has any place in finance at all? What changes would you want to see to bring validity to crypto?
I ask as someone that stays away from it completely because it seems opaque and complicated. I’m interested in your thoughts.
@rbreich I believe that there is no difference between a bitcoin and a tulip bulb...
