[Jabanga]

You're quoting from the Birch-Kaminska circle, which has been bashing cryptocurrency since 2012.

A ponzi scheme is where people pay a fee to join a scheme where members are guaranteed a payment that comes out of the membership fees paid by members that join after them.

No token sale has given out payments, let alone guaranteed one. A speculative price gain is not a "ponzi scheme".

[AJRF]

So tell me, what is the goal of an ICO? And by extension, how do you ensure an ICO is successful?

[Jabanga]

Whatever the goal, unless they guarantee you a payment and fund that payment with membership fees paid by later entrants, it's not a ponzi scheme.

[AJRF]

What are you talking about membership fees? That isn't the criteria for all Ponzi schemes you know? You don't sound like you know what a Ponzi scheme is.

[Jabanga]

It's you who doesn't know what a Ponzi scheme is. A Ponzi schemes requires new members to pay a fee to join. From Wikipedia:

>is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities.

The operator pays revenue to those who joined earlier with the fees received from those who joined later.