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andrewstuart 3 days ago

Igiving away prizes looks pretty much like a ponzi scheme to me.

gruez 2 days ago | parent [-]

It's not. It's a scheme that arose out of behavioral economics.

https://en.wikipedia.org/wiki/Prize-linked_savings_account

pessimizer 2 days ago | parent [-]

Why would those two things be mutually exclusive?

jrockway 2 days ago | parent [-]

Ponzi schemes have a well-defined definition, and it's simply not what these folks are doing. What these people are doing is putting people's savings in ordinary savings accounts, taking the interest earned, and then giving a random person everyone's interest once a month.