“Ponzi, Ponzi, Ponzi. It’s early. If it is a Ponzi, get in on the ground floor.”

Naturally, safe moon (which is from the family of off-off Broadway cryptocurrencies known as “sh-tcoins”) rose 20 per cent in the space of a few hours. It’s up 290 per cent in the last 30 days and has a market capitalisation of $US4.4 billion ($5.7 billion).

This is classic Portnoy shtick. For those who don’t know him, the Boston 40-something is the personification of the ultra-blokey “bro” culture that dominates pockets of the internet with stupid, crass and blokey jokes and memes.

Barstool started out as a gambling tip sheet that Portnoy gave out in subway stations and morphed into an online platform focused on sports and internet culture.

It built up a large audience thanks in no small part due to Portnoy’s willingness to be outrageous – even if that meant frequently crossing the line into misogyny and sexism.

While Portnoy revels in his status as an…

Read more…