"Yes your Honour, I knew it was a pyramid scheme. But I never thought I would be the last buyer. I always thought there would be another dumbass to buy it from me at a higher price, otherwise I wouldn’t have bought it in the first place. I’m not stupid, unlike those last buyers!
Moreover, your Honour, on a technical note, this is not a monkey. You see, a monkey is different from a monke, and both…"
Neither side of this looks good for crypto bros.
One side says, “This was a ripoff; you knew it was a ripoff when you sold it to us.”
The other side says, “This was a stunt; you knew it was a stunt when you bought in.”
"Yes your Honour, I knew it was a pyramid scheme. But I never thought I would be the last buyer. I always thought there would be another dumbass to buy it from me at a higher price, otherwise I wouldn’t have bought it in the first place. I’m not stupid, unlike those last buyers!
Moreover, your Honour, on a technical note, this is not a monkey. You see, a monkey is different from a monke, and both…"
Idiots losing money by speculating in a volatile market they know nothing about is not unique to crypto.
Sure, but when the very existence of the market depends on idiots losing money, we call that “fraud”.
Like this? That doesn’t have anything to do with the medium of exchange.