Ponzi scheme as related to Cryptospace

 What is a Ponzi scheme in cryptospace?


While this term isn't exclusive to the realm of cryptocurrencies, it's vital for all crypto enthusiasts to grasp its significance.


A Ponzi scheme is a deceptive operation where those behind it settle existing debts not through genuine earnings but by enticing fresh participants. 

Essentially, it resembles a conventional financial pyramid. It appears to be functioning smoothly as long as a consistent flow of new participants joins, but inevitably, as the number of participants grows, the pyramid is destined to crumble


Be careful out there and always DYOR. 

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