
Bonus: The Crypto Story by Matt Levine - Part 4
Bloomberg Crypto
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Web3 Is a Ponzi
Early users of a crypto network get tokens cheap and if the network takes off later, then their tokens will be worth a lot. The bad way to put this is that every web 3 project is simultaneously a Ponzi. Why would you buy some tokens to join a Web3 Facebook competitor? Well, if you like the product, go right ahead. But probably it's at least in part because you want to get rich off the tokens by selling them to someone else.
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