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The Ponzi only benefits you if you front run the others; if you dump on them. So you don't want to be equal with them, you want to be ahead of them. It's inherently uncooperative while incentivizing manipulation disguised as cooperation.
Any concerns you may have you're incentivized to keep to yourself and analyze them in loneliness. There is no discussion, no benefits of brainstorming and building upon the knowledge of those who walked before us. And there is no sense of community, because no one with concerns is honest (even if they heartfeltly want to, the game theory says shut up or get out) and they only care about themselves.
Concerns are dismissed as intentional fud, because that supports the bull case. And the steelman ones are abhorred the most, because they can't be refuted easily. They're met with condescension, hatred, spite and "What are you doing here?", sometimes more apparent and sometimes hidden by good acting.
It's a closed system where there is no balancing; no interplay between the yin and yang. Unlike in physics, opposites repel. Greed only breeds more greed, fear only breeds more fear and there is no love. The system is unstable.
same type of victim blaming and cult tactics used in MLMs, which are also almost identical to a traditional ponzi
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How many Bitcoiners are not primarily holding with the intent of fiat denominated speculative gain?
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150 sats \ 1 reply \ @k00b 22 Nov
On the bright side, you can usually tell who isn't concerned with benefiting from a ponzi based on how outsized their advocacy is relative to their criticism.
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But so far Ponzi has been very favored, so what actually makes it unprofitable?
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