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term to describe the Ponzi-like schemes of the [cryptocurrency] world, especially in terms of bitcoin; gets its name from "bit" as in "digital", and "con" as a twist on "coin", and to describe the type of scheme (so "digital coin" -> "digital con"). Used as an [alternative] to "Ponzi" because [cryptocurrency] adherants argue that only fiat currency is used as the ROI for early investors in Ponzi schemes, contrary to the imagined value of cryptocurrencies being used as the ROI in the cryptocurrency world.
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