I get this a lot. I’ve seen people het involved with ponzi schemes and end up cursing and tagging crypto when they eventually get scammed, simply because the transacting method of the ponzi was a cryptocurrency. The ponzi itself is not a crypto investment. It’s not an investment at all if we’re being honest. But people will always look for something to blame.
I was on Facebook some days ago and I saw so many people who were scammed by some shady projects. Some of them did not know the onus of investing in crypto. They thought it was for them to buy at anytime they want and take profit at anytime they want. Some of them got the wrong timing, and some of them got the wrong Project, but they tend to blame everything.
I see investing in meme coins as a sort of a ponzi scheme. If you invest at the right time, you go up with the crowd and if not, God have mercy on your soul. Meme coins are generally not the category of coins people buy to HODL. They’re like entering a futures contract. You don’t actually have plans of holding on to the contract for long, just holding for short term for the position to garner you some profit and you leave.
Traditional systems have Ponzi schemes in them. So does the crypto industry as well. Meme coin are the Ponzi scheme of crypto, but generally those who are bitter towards crypto, just tend to blame everything forgetting that Ponzi exist in almost all aspects of life. People who don't do their research are more in the industry.
Yeah this a mistake most rookies make when they just hear about crypto and want to get a piece of the money. It takes experience to learn about the crypto market cycles. You probably won’t think of digging that deep or that something like market cycles exist as a newbie in crypto unless someone that already knows how it works points you in the right direction.
Honestly I see a lot of whining about people losing money in web2 platforms. They make memes about how crypto has taken their money. Meanwhile, all I see are foolish people who refuse to do their research