Cyber Glossary
Cyberlaw dictionary is an alphabetical reference guide to technical and legal terms related to the Internet. The site you are now browsing contains over 500 definitions of words drawn from Standard Internet English including technical terms and their meanings. Our aim is to explain basic technical jargon of cyberspace to those who are not familiar with its jargon. We've given preference to terms that are widely used, like modem or bandwidth, and to those that describe new concepts specific to the Internet experience such as phishing or sexting.
Pyramid scheme
(Ponzi scheme) a method of making money that requires new participants to invest in order for previous investors to be paid. The problem with this plan is that it continuously requires new investors. The Ponzi scheme can be thought of as an expensive game of Old Maid. Unfortunately, pyramid schemes eventually collapse because it becomes increasingly difficult to attract new players. Chain letters, asking people to send money to others listed in the letter, and then crossing off the last recipient’s name and replacing it with yours, are a form of pyramid scheme. The pyramid scheme is mentioned in this book because the Internet is alive with such offers. As with anything else, a user would be wise to know the company or individual he is dealing with before sending money.
