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RE: EOS ICO is a Ponzi Scheme/Live Gambling Scam?
But that is the exact definition of a Ponzi scheme, and at one point one of 2 things will happen:
- They will stop recycling, and the price of EOS will crash causing people to lose money.
- People stop buying into the ICO due to rising ETH/EOS price pair, EOS is devalued resulting in over $200M stolen from the crypto economy.
#1 leads to #2 through a natural progression so in either case this is a huge theft both in the digital realm and the world financial markets, and crypto accounts for around 0.15% of the ENTIRE world economy. So it's no surprise that the US intel and forces are at war with crypto.
For me a Ponzi scheme would require new money entering to cover for older lost money.
If the statement of them supporting the EOS price is true its always the same money going in and out.
This can continue until the EOS price goes up but than it shouldnt be necessary anymore since people have a different price perception and will act accordingly
Apart from this current valuation is quite logic compared to other cryptos. Its a promising new player with some big names linked to it.