Cryptocurrency

[Jog On]

Yep, there's still plenty more gullible people out there willing to bet the farm and buy into the pyramid - for now...

How is it a pyramid?

[Zigenare]

How is it a pyramid?

Mass hysteria driven by the greed of the gullible is the only thing driving the "market".

Earlier adopters are dependent on demand increasing and in their own way marketing the emperor's new clothes.

You can show your pretty graphs of what has happened in the past, pronouncing your predictions for future value but your projections are merely self justifying psychobabble.

Your "holding" is only worth what some other gullible fool will pay you for it, the market is dependent on more gullible fools buying into it to drive up the demand.

That is why it is a pyramid.

[VirtualMonkey]

Mass hysteria driven by the greed of the gullible is the only thing driving the "market".

Earlier adopters are dependent on demand increasing and in their own way marketing the emperor's new clothes.

You can show your pretty graphs of what has happened in the past, pronouncing your predictions for future value but your projections are merely self justifying psychobabble.

Your "holding" is only worth what some other gullible fool will pay you for it, the market is dependent on more gullible fools buying into it to drive up the demand.

That is why it is a pyramid.

Ah now I see what you mean...
Like the tech stocks of old..you know..microsoft and amazon, etc.
At least I understand now. You mean bubble instead of pyramid. Bubbles pop now and again. I seem to recall stock like Amazon dropping in the region of 50% a couple of times as well

[gables]

Mass hysteria driven by the greed of the gullible is the only thing driving the "market".

Earlier adopters are dependent on demand increasing and in their own way marketing the emperor's new clothes.

You can show your pretty graphs of what has happened in the past, pronouncing your predictions for future value but your projections are merely self justifying psychobabble.

Your "holding" is only worth what some other gullible fool will pay you for it, the market is dependent on more gullible fools buying into it to drive up the demand.

That is why it is a pyramid.

Hmm, but that's not a pyramid though is it.

[Jog On]

Ah now I see what you mean...
Like the tech stocks of old..you know..microsoft and amazon, etc.
At least I understand now. You mean bubble instead of pyramid. Bubbles pop now and again. I seem to recall stock like Amazon dropping in the region of 50% a couple of times as well

This

[Jog On]

Hmm, but that's not a pyramid though is it.

No it's not, this is a pyramid:

A pyramid scheme (commonly known as pyramid scams) is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services.

In a pyramid scheme, an organization compels individuals who wish to join to make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments. For the directors, the scheme is potentially lucrative—whether or not they do any work, the organization's membership has a strong incentive to continue recruiting and funneling money to the top of the pyramid.

MLM is a pyramid, crypto is an emerging asset class based on technology that's being adopted by large businesses.

[gables]

No it's not, this is a pyramid:





MLM is a pyramid, crypto is an emerging asset class based on technology that's being adopted by large businesses.

Indeed, I know, but this isn't the first place I've seen people refer to it as a pyramid

[Jog On]

Indeed, I know, but this isn't the first place I've seen people refer to it as a pyramid

Or a 'ponzi scheme' which is the other popular one. These people are perfectly free to not partake in it - why they need to bash it rather than just ignore it puzzles me.

Always seems to happen when the market is taking off. Could be 'didn't-buyers' remorse (hint - now's a great time to buy)

[VirtualMonkey]

Or a 'ponzi scheme' which is the other popular one. These people are perfectly free to not partake in it - why they need to bash it rather than just ignore it puzzles me.

Always seems to happen when the market is taking off. Could be 'didn't-buyers' remorse (hint - now's a great time to buy)

You actually said it!

[VirtualMonkey]

Hey...look what I just noticed....post 1000 !