No joke, this is actually very much how it works. For disputes they use UMA tokens, which allows whales to just buy the vote. Although “being too expensive to corrupt” is the point, there’s a bunch of recent news about votes for $50 million markets bought with $7 million worth of coins (which are reusable, once you own them, you can vote on every dispute with the same tokens and voting power).
“Voting power” has nothing to do with the original ponzi scheme. It was all about using the money from new investors to fake high returns on investments for all investors. So a betting market where people aren’t assured return at all starts from quite a different proposition, and adding “buying voting power” to it does nothing to increase the similarity.
Why not set up a Polymarket bet for how Polymarket is going to handle this? Or whether they face any kind of legal repercussions at all.
No joke, this is actually very much how it works. For disputes they use UMA tokens, which allows whales to just buy the vote. Although “being too expensive to corrupt” is the point, there’s a bunch of recent news about votes for $50 million markets bought with $7 million worth of coins (which are reusable, once you own them, you can vote on every dispute with the same tokens and voting power).
Well gee, that doesn’t sound like a nightmare of a Ponzi scheme at all
It literally doesnt sound like a ponzi scheme at all.
They pay for voting power in disputes over betting so that it literally only gives return by new investors - exactly like how any ponzi scheme works
“Voting power” has nothing to do with the original ponzi scheme. It was all about using the money from new investors to fake high returns on investments for all investors. So a betting market where people aren’t assured return at all starts from quite a different proposition, and adding “buying voting power” to it does nothing to increase the similarity.
At a stretch you could compare it to an MLM.
Ah yes investing to get money the most not ponzi ever
If you think “investing” in a ponzi scheme makes you get more mowey out you are the target a ponzi scheme owner dreams of.
Sooo… here we are; you flip 180 and forgot that your claim is that there is no investment or scam