PonziCoin
Crypto Overview
Overview
PonziCoin (PONZI) was created in 2018 as an intentionally satirical cryptocurrency that explicitly advertised itself as a Ponzi scheme. The project's website and marketing materials openly stated it was a scam, meant to serve as a warning about cryptocurrency fraud.
Purpose and Utility
The stated purpose was educational - to demonstrate how pyramid schemes operate in the cryptocurrency space and warn investors about similar fraudulent projects. The project had no legitimate utility beyond its educational/satirical aims.
Business Model
The project deliberately implemented a pyramid scheme structure where early investors would profit from new investors joining, with no underlying product or service being offered.
Development and Adoption
The project appears to be defunct, with no active development or trading occurring. The original website is no longer operational.
Token Distribution
Distribution details are no longer available, but the project was explicitly designed to enrich early participants at the expense of later investors.
Crypto Impact
To assign a comfort level investing in PonziCoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to PonziCoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.