Ponzi ladies… stay short and make money with me An improvement on past Ponzis?
Still, Quinn argues that most cryptocurrencies could be viewed as a form of “improvement on the traditional Ponzi scheme,” and he isn’t the only one with that perspective. JPMorgan ChaseCEO Jamie Dimon made a similar claimin September of last year, calling cryptocurrencies “decentralized Ponzi schemes” in testimony to the U.S. House Committee on Financial Services.
“The notion that it’s good for anybody is unbelievable,” he said, arguing Bitcoin and other cryptocurrencies are “dangerous.”