Bady@lemmy.ml to Asklemmy@lemmy.ml · 1 year agoWhat are some notable scams in history that went unnoticed for so long?message-squaremessage-square348fedilinkarrow-up1380arrow-down17
arrow-up1373arrow-down1message-squareWhat are some notable scams in history that went unnoticed for so long?Bady@lemmy.ml to Asklemmy@lemmy.ml · 1 year agomessage-square348fedilink
minus-squareZodiacSF1969@sh.itjust.workslinkfedilinkarrow-up17arrow-down2·1 year agoThat’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears. A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.
minus-squareEfwis@lemmy.ziplinkfedilinkEnglisharrow-up1arrow-down2·1 year agoMight as well be, the patron still gets screwed
That’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears.
A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.
Might as well be, the patron still gets screwed
Aka social security…