It’s not a Ponzi but it was operated as one since the only thing STINC knew how to do for a long time was sell premined tokens and hope people buy them.
It’s not a Ponzi but it was operated as one since the only thing STINC knew how to do for a long time was sell premined tokens and hope people buy them.
That still doesn't fit the mold of a Ponzi scheme. Flooding the market is a different tactic altogether.
That's the whole point though.
New money coming in to pick up the tokens and oldies dump them asap and leave with better money like BTC. Then, they cash out to fiat.
What value is the STEEM token should STINC stopped developing like they had for a while.
Any scheme where the newbies want the interest (aka inflation, reward pool, etc.) and the oldies want new capital (via selling tokens in exchange for actual money) is pretty much a Ponzi.
As my grandmother would put it: 你要人家的利. 他們要你的本. It's a tale as old as time.
So you admit that steem is a shit coin that people were tricked into buying.
I never said anything of the sort. Stop being disingenuous.
thanks for the reply