‘Far too easy’ — Crypto researcher’s fake Ponzi raises $100K in hours
Crypto Twitter user FatManTerra explained the fake investment scheme was used to teach people a lesson about investing blindly in crypto schemes shilled by influencers.
If you don't understand where the yield is coming from, you are the yield.
A nice take on,"If the service is free, then you are the service."
Thing is, crypto continues to be the wild west, merging finance with casinos. Except there is already such an establishment - the derivatives markets. This is why we are seeing crypto derivatives before any spot contracts. The old racketeers understand the new racketeers.
Also, for all the gas emitted about governments racking up monstrous debts, the biggest black hole in finance is... the derivatives markets.
This is why the banksters play crypto - plenty of new blood to drain.
Ponzis are fairly easy to make money on; you just need to know how they work, when to get out, and not to be overly greedy in any one game.
Far too easy!
This reminds me of the infamous quote "invest only what you can afford to lose," well crypto is a world full of scams.