[phabricator]

Tulip mania is the go-to comment for every post about crypto on HN, you don't need the link.

Shocked no one called this a Ponzi scheme yet.

[sofixa]

TFA isn't describing a Ponzi scheme because (as far as we know) the person doing the machinations doesn't run the scheme (underlying "coin") and doesn't use new investors' money to pay off existing ones. It's just a pump and dump (buy while something is cheap, hype it up to make the price go up, then sell at the top).

[phabricator]

I know, still surprised no one has called it that

[efficax]

tulip mania and ponzi schemes come up for a good reason

[johnnymorgan]

..and those reason are what exactly in relation to the solve of the Byzantium Generals problem?

USD is still the goto choice for ponzi and scams in general, does that invalidate it's utility?