@suetanvil The longer term for "cryptocurrency" is "it's a motherfucking pump-and-dump scheme".
“Rhymes with ‘Fonzy’”
@suetanvil I was intentionally avoiding that specific description, though the more I think about it, the more I'm thinking it fits. Payouts from cryptocurrency scams can, by definition, only come from those who've paid into the system later, and eventually, that list of fools will end.
Unless the tokene become directly transactable for other goods as the principle use of interations and transactions. Which it seems pretty clearly isn't the case.
I'll provisionally say that "Ponzi Scheme" fits quite well, if not perfectly.
On the internet, everyone knows you're a cat — and that's totally okay.