[shabbatt]

> You're confused, in a ponzi earlier investors are paid from the investments of future investors.

so you mean like pre-mine token sales? wait aren't those securities because there is an expectation of returns from the work of others?

what you write here could be used against you, consult your lawyer before you admit anything!

[mgraczyk]

A pre-mine might make it a security, but it's basically the opposite of a ponzi. Not everything is a ponzi. I think you're just confusing different financial constructs with one another

[shabbatt]

It's worse than ponzi, its securities fraud.