On: It’s Not a Bubble, People; It’s a Pyramid Scheme

[alecco]

Bubbles are usually fueled by public manias (e.g. tulips or real estate). Pyramid schemes are planned frauds.

[rue → alecco]

A pyramid scheme is a very specific type of fraud: starting with a very small group and adding tiers of people, using the entry fees (whatever the pretense) of the lower tiers to pay dividends to those in the higher tiers.

[bambax → alecco]

Ok, but both rest on the "greater fool" theory...

[alecco → bambax]

Yes