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by fmvab 1561 days ago
It comes from the office of the NYS attorney general. https://ag.ny.gov/consumer-frauds/pyramid-schemes

Please send them an email elucidating the finer points of what scheme is what.
1 comments
Dylan16807 1561 days ago
I'm aware of what page it comes from.

I'm also aware that not all communications use exact definitions at all times! Your smugness is not called for.

If you just want to link some government pages in the google results for 'pyramid scheme', here's one following the precise definition: https://www.fbi.gov/scams-and-safety/common-scams-and-crimes...

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fmvab 1561 days ago
My point is, it doesn't matter whether you or I consider it a "bad definition". To say that these things are not pyramid schemes "in any way" is unnecessarily pedantic and not useful considering the context (the implications of their terms of service).
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Dylan16807 1561 days ago
As far as the terms of service go, I could see conflating a pyramid and a ponzi, but a pump and dump is pretty distantly related.

And saying they need to remove that part of the ToS to honestly accept any crypto business is silly.

You could make an argument against allowing entirely new coins, I guess, but that's more about the other ToS terms than 'pyramid scheme'.

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