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Dogecoin’s rapid growth comparable to ponzi scheme; another Bernie Madoff-like ‘big lie’ in making?

May 29, 2021 10:21 AM

On three accounts, the rapid growth in cryptocurrency is comparable to a ponzi scheme. People invest into these because they expect good returns

"On three accounts, the rapid growth in cryptocurrency is comparable to a ponzi scheme. People invest into these because they expect good returns. There is no identified source of generating revenue on the investment. The good returns that early investors earn are on account of the new investors who expect further growth. While cryptocurrency is touted as the future of banking and decentralized finance (DeFi), none of that has materialized yet and even if it does, holders of crypto currency would not be able to generate any income from these investments. Bitcoin apologists however make claims about the inherent value of cryptocurrencies through the amount of work it takes to mine a bitcoin."
https://www.financialexpress.com/market/dogecoins-rapid-growth-comparable-to-ponzi-scheme-another-bernie-madoff-like-big-lie-in-making/2260853/