Ethereum Now Has Its Own Self-Sustaining Pyramid Scheme

Posted byLakshy.VinayPosted inBitcoin, Blockchain, Cryptocurrency, Ethereum

In the world of cryptocurrencies, there are plenty of scams, pyramid schemes, and Ponzis to be aware of. Unsurprisingly, there are also honest pyramid schemes which make no bones about what they are doing exactly. The PoWHCoin project, for example, positions itself as the world’s first autonomous and self-sustaining pyramid scheme. It’s an interesting idea and one that is seemingly receiving a lot of funding as well.

USING ETHEREUM FOR ANOTHER PYRAMID SCHEME

The concept of Ethereum smart contracts is a very interesting one. This technology allows for automating various aspects of finance and running companies. It is unsurprising that someone wants to put this technology to the test and create some form of an investment program. A self-sustaining pyramid scheme is not necessarily something people had expected, but it seems there is at least one project out there pursuing this option right now.

#blockchain#bitcoin#ethereumshutterstock_168645968

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