Ponzi finance in Albania in the late 90's shows that you don't need TV or social media or smartphones for pyramid schemes to take over an entire society.
What you need is widespread magical thinking combined with greed, corruption and an economic shock.
"Albania became one of the most enthusiastic implementers of shock therapy, a set of policies that included the liberalization of markets, strict monetary policy, and privatization of public services and infrastructure."
"Factory closures and unemployment soon followed. Inflation and currency devaluations wiped out savings and welfare entitlements."
"Politically connected businessmen appropriated the profitable parts of state assets in an upward redistribution of wealth of world-historic proportions. Food subsidies were slashed; hunger rose."
Citizens regarded capitalism "with childlike naivete—and grown-up greed"
Albania "became a playground for Moonies, Mormons, and Jehovah’s Witnesses."
In Albania a vicious civil war followed the collapse of the pyramids.
Many parallels to the United States in 2022 (and this is far bigger than just crypto).
Source: https://www.dissentmagazine.org/online_articles/pyramids-eve...