4 ms·
Ehhh the definition of every successful business is one that creates more value than the sum of its parts. There has to be a consumer somewhere, and consumers u
by quuquuquu 9y ago
Ehhh the definition of every successful business is one that creates more value than the sum of its parts. There has to be a consumer somewhere, and consumers usually buy something with intrinsic value (you chop down a tree, I buy the wood from you for my house.)
When there is no intrinsic value being gained, this means that the company is really just a shell game, moving money around. Think poker. People are voluntarily risking money, to play a game, to get someone else's money (and some slight entertainment.)
So, if a business markets itself as one that is creating value ("we do easy digital, global payments!"), but is really just moving money around ("buy our ICO, get in on the ground floor!")...
then buyer be aware :)
- erikb 9y agoI like your way to define it better, because it also provides an inherent way of avoiding (more, probably not all) scams. Don't buy stuff for the sole purpose of hoping for profit. Things you buy need to have intrinsic value. The least thing you have is a logical reason why someone else would buy it for more. And in that case early adopters of ICO-scams are doing it the smart(er) way. Because they buy coins for less than the offering price and can guess from marketing hype what they may get on offering day for it.
- quuquuquu 9y agoAbsolutely, I do agree! Buying something expressly for profit, but masquerading it as a business, that = Herbalife. Now, some people actually do drink Herbalife shakes, but usually they are doing so as a rite-of-passage to some kind of "next level of distributorship." craziness, really :)