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The referral element - get tokens for inviting others to get tokens - is very much MLM. So, from that standpoint, I'm right there with ya.

However, I would imagine that these exchanges will keep growing - just as long as there is actual crypto trading going on. Which could be forever, or it could be just until someone pulls the plug.

I mean that literally - someone will have to literally pull a literal plug to literally shut down the internet.

Exchanges might be profitable business models if done right, or they could be really crappy - and there are many people who swear at Poloniex.