What is a Ponzi scheme?
Although this is not a term specific to cryptocurrencies, it is crucial for all crypto enthusiasts to understand it.
A Ponzi scheme is a fraudulent scheme in which hackers cover customer liabilities not with actual revenues but rather by luring new participants.
This is essentially a traditional financial pyramid. It works “well” as long as there is a steady stream of new users, but eventually, there will be so many users that the pyramid will inevitably collapse.
https://t.me/EarnCrypto_Currency
Although this is not a term specific to cryptocurrencies, it is crucial for all crypto enthusiasts to understand it.
A Ponzi scheme is a fraudulent scheme in which hackers cover customer liabilities not with actual revenues but rather by luring new participants.
This is essentially a traditional financial pyramid. It works “well” as long as there is a steady stream of new users, but eventually, there will be so many users that the pyramid will inevitably collapse.
https://t.me/EarnCrypto_Currency