Altcoins: The Modern Ponzi Scheme Wrapped in Hype
I fell for the fantasy—the promise of quick riches, the allure of being "early" on the next big thing. Altcoins weren’t investments; they were digital pyramid schemes, propped up by influencers, hype cycles, and the desperate hope of bagholders praying for a greater fool. I bought in, convinced I was part of a financial revolution. Instead, I was just another mark in a rigged game.
The mechanics were painfully clear once I stepped back. New tokens launched with grand promises, pumping on speculation before inevitably crashing when insiders cashed out. The cycle repeated—over and over—with fresh narratives ("DeFi," "NFTs," "Web3") disguising the same old scam. Early buyers profited by dumping on latecomers, leaving them holding worthless bags. Sound familiar? That’s because it’s textbook Ponzi dynamics—just with blockchain buzzwords.
I lost money, but I gained clarity. Altcoins aren’t disruptive technology; they’re financial traps dressed as innovation. The entire ecosystem thrives on perpetual recruitment, not real value. Ask yourself: If no new buyers come in, where does the price come from? The answer will terrify you. Walk away now—before you’re the last one holding the bag.
