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by willcipriano
1654 days ago
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You buy a NFT at the ground floor. You know it's worthless, but you also know about hype. You go on Twitter, tell your friends about NFTs, shout about them from the rooftops. The price goes up, you sell before the reality distortion field collapses. The early investors are paid by the newest ones. Ponzi scheme is a good word for it even if it doesn't fit perfectly. The moving of bits around on the blockchain is just misdirection. A decentralized ponzi scheme promoted by many unrelated actors simultaneously. |
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