In any scam, any con, any hustle, the big winners are the people who supply the scammers - not the scammers themselves. The kids selling dope on the corner are making less than minimum wage, while the respectable crime-bosses who own the labs clean up. Desperate “retail investors” who buy shitcoins from Superbowl ads get skinned, while the MBA bros who issue the coins make millions (in real dollars, not crypto).
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@pluralistic
“Where are the Customer’s yachts”
in his novel Roughing It, Mark Twain spends a great deal of time talking about a hyper speculative bubble in mining stocks in Nevada/California in the 1860s
and how so many people lost their shirts on insanely over priced mining stock or claims
https://en.wikipedia.org/wiki/Silver_mining_in_Nevada