this post was submitted on 01 Aug 2024
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[โ€“] Aceticon@lemmy.world 10 points 3 months ago (1 children)

Seeing the whole thing as Knowingly Trading in Hype is actually a really good insight.

Certainly it neatly explains a lot.

[โ€“] rottingleaf@lemmy.world 16 points 3 months ago

Also called a Ponzi scheme, where every participant knows it's a scam, but hopes to find some more fools before it crashes and leave with positive balance.