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crypto is learn ponzi schemes the hard way

“crypto is learn ponzi schemes the hard way”

when i was a teen i got into hyips and autosurfers. they were ponzis. i lost all my money. i was a teen, no big deal, i didn’t have hardly any.

in the case of hyips and autosurfers it was all a tech enabled scam without any merit, they are now an example i stand on from personal experience when evaluating internet offerings that claim to benefit my bank account.

i bought, never changing the amount, eth, every month over the last two years and still do.

i have been to ethdenver, permissionless in miami and some crypto event in toronto that rented a pirate ship for attendees.

in the same vein as the hyips and autosurfers, much of what i was sold on clean brochures with companies setup at remarkable booths, were ponzi schemes. like myself as a teen, much of the audience who would buy in had never been scammed by in their lives. one of the tragedies of ponzi schemes is that the scammed end up promoting the scam then eventually their friends join in. the scammed spread the scam as much and more as the scammers, the successful ponzi schemes all have an element of paying the scammed referral fees for bringing in new money. it’s a multi-level marketing approach to f!?king people out of their money.

after losing all their money the scammed become wide-eyed in the sight of ponzi schemes, “guaranteed daily interest? you’ll pay me 10% of all the money anyone i refer deposits? you’re a cancer.”

maybe they’ll make some new mistakes in some unrelated fields, it’s not like the wisdom gained from a ponzi scheme loss applies elsewhere. take me for example, i just recently poured coffee on my pancakes at a diner wondering why my maple syrup was so watery.  oops. and by the time any of us is at the end of life we’ll all be wishing we had more time to make more mistakes so we can grow, learn, and gain that ultimate of all earnings, earned wisdom.

ponzi schemes come and go. hyips and autosurfers died when all the scams were exposed, litigated, and the founders incarcerated. crypto is going to be here long after the ponzi proliferation is relegated to the back of the back of blockchain. for me, i’m looking proudly at my friend and neighbor who never needs to work again thanks to being the founding engineer at opensea, i’m looking proudly at my college pal who did the third initial coin offering in the world and also never needs to work again, and i’m looking proudly at another friend who i am happy to name as Jordan Messina who is currently building a company using blockchain innovations. they all believe as i do, there is an honest and ethical business to be built with ethereum.

i buy eth because i consider these guys to be righteous men of conscience that will be inventing weirdly awesome technology for years to come and i need some tokens to use the products of their work. and that’s nice.