Ponzi Scheme
By Cryptomcmillan1 | Updated on May 24, 2020
A Ponzi scheme is also referred to as pyramid scheme, and typically takes the form of an investment scheme which pays existing investors with funds collected from new investors. Ponzi schemes usually come with the promise of high returns and little risk, while requiring members to actively recruit more members to join the scheme. Once recruitment stops the schemes usually go bust as they run out of funds to pay existing members.
Related Terms
Wallet Address
The address in which cryptocurrency can be stored, sent to and receive.
Private Keys
The alphanumeric string which allows transactions from the cryptocurrency address
gm Good Morning
gm is the short form writing for good morning. Used extensively within the crypto community where individuals greet each other casually. On the other hand, good night (gn) is used when people sign off for the day.
Bullish
A term used to indicate positive sentiment towards the market or an asset, where investors believe that there will be upward price movement.
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