Crypto: a new word for Ponzi (or Pyramid)

Image ‘Falsum īdōlō (A false idol)’ produced by the author using AI text-to-image tools (DeepAI) and image editing software (GIMP 2.10.8).

It’s right there in the name
if you’re capable of perception
unclouded by delusional ideas
of getting rich quick
without any risk.

‘Crypto’ is a term that –
in English –
means ‘secret’ or ‘covert’ …
two ingredients
that may well be toxic
to healthy investments.

It’s a word
that’s even related
to the name of the element Krypton,
which –
in comic books –
is the basis of Kryptonite …
the poisonous radiation
that weakens supermen
(and superwomen).

Crypto and the like –
including NFTs –
in part,
on the Greater Fool Theory
(the idea that,
during a market bubble,
one can make money
by buying overvalued assets
and selling them for a profit later,
because it will always be possible
to find someone
who is willing to pay
a higher price).

Grifting is at its heart
and inherent in the concept
is relying upon a Rube –
of course,
another way of saying that
would be,
“It’s fraud
perpetrated on a witless victim”.

It’s best to be neither a fraudster
nor a victim of one.

About the Poem

This is commenting on the matter of investment (financial or otherwise) in the online ‘Meta-verse’ – whether it be by way of Crypto-currency, NFTs or simply burning down life with wasteful role-play.

About the Author

Douglas Colston – who finds himself approaching his mid-50s and living at the Sunshine Coast in Australia – has played in Ska bands, picked up university degrees, supported his parents during
terminal illnesses, married his love, fathered two great children, had his inheritance embezzled, transitioned into Counselling as a vocation and experienced chronic mental and physical illnesses
consequential to workplace harassment. Now, among other things, he is pursuing a PhD.

Leave a Reply

Your email address will not be published. Required fields are marked *