4 ms·

Plenty of pyramid schemes lay on the back of some sort of product, knives or energy drinks or what have you. The existence of a product doesn't mean it isn't a

Plenty of pyramid schemes lay on the back of some sort of product, knives or energy drinks or what have you. The existence of a product doesn't mean it isn't a scam

charlesdm 9y ago
It also doesn't mean it is. You could say the same about companies raising venture funding, or the stock market, or private equity dumping companies onto the balance sheet of other companies, etc
- aje403 9y ago
  The equivalent venture fund to these ICO's is run by that token sketchy brazilian guy who spends half of your money on flying a bunch of models to a big house in Ibiza he rented for the weekend. He's not exactly stealing your money, he's wisely using it to entertain executives and potential investors.
  - jrs95 9y ago
    Sounds wise to me, where do I sign up? I can take a pay cut for awhile.
cortesoft 9y ago
I mean, I hate MLMs as much as the next guy, and would never participate, but they are slightly different than a pure pyramid scheme.
- TeMPOraL 9y ago
  They're a pyramid scheme with a pinch of showbusiness sprinkled on top :).
- vkou 9y ago
  No, they are not pyramid schemes per se - they are more of an inverse funnel.
  - Y_Y 9y ago
    I would have called it a shady trapezoid.
ojr 9y ago
So we should rather invest in IPOs that pop as soon as they're available to retail investors right? If our monetary system was so good we wouldn't be in 19 trillion in debt and cryptocurrencies would have no reason to be adopted, there is a reason why Bitcoin debuted in 2009 after the 2008 Recession... When the government does bailouts and Quantitative Easing, this can be seen as a scam to some
- TeMPOraL 9y ago
  > So we should rather invest in IPOs that pop as soon as they're available to retail investors right? IPOs are regulated, so there isn't that much of a mess around them, and it's more difficult for people who shouldn't be investing to play that game. That's on purpose, and it came to be through some hard-learned lessons. > If our monetary system was so good we wouldn't be in 19 trillion in debt National / international debt is, first and foremost, a tool, and it doesn't work the same way the "regular" debt does. > and cryptocurrencies would have no reason to be adopted They still don't. They live as long as they get to be financial wild-west, where it's easy to get rich off fools. > there is a reason why Bitcoin debuted in 2009 after the 2008 Recession... Yes, because it was developed around then. > When the government does bailouts and Quantitative Easing, this can be seen as a scam to some Maybe, but then again taxes are seen as theft by some. We can talk about ideologies all day, but in the real world, the "traditional" system still remains somewhat suitable for running a technological civilization, whereas cryptocurrencies are not, and will not because they don't scale well.
  - ojr 9y ago
    Facebook, Google, etc, didn't scale well from day one either. The software infrastructure for blockchain space is improving. Cryptocurrencies markets are more egalitarian so they will always be more favorable than traditional markets who tell people they shoudn't invest because they are "less equal".
Firebrand 9y ago
I present to you...BANANA COIN!: https://i.imgur.com/4p7XFyd.jpg https://i.imgur.com/4p7XFyd.jpg

Plenty of pyramid schemes lay on the back of some sort of product, knives or energy drinks or what have you. The existence of a product doesn't mean it isn't a scam

charlesdm 9y ago

It also doesn't mean it is. You could say the same about companies raising venture funding, or the stock market, or private equity dumping companies onto the balance sheet of other companies, etc

aje403 9y ago
The equivalent venture fund to these ICO's is run by that token sketchy brazilian guy who spends half of your money on flying a bunch of models to a big house in Ibiza he rented for the weekend. He's not exactly stealing your money, he's wisely using it to entertain executives and potential investors.
- jrs95 9y ago
  Sounds wise to me, where do I sign up? I can take a pay cut for awhile.

cortesoft 9y ago

I mean, I hate MLMs as much as the next guy, and would never participate, but they are slightly different than a pure pyramid scheme.

TeMPOraL 9y ago
They're a pyramid scheme with a pinch of showbusiness sprinkled on top :).
vkou 9y ago
No, they are not pyramid schemes per se - they are more of an inverse funnel.
- Y_Y 9y ago
  I would have called it a shady trapezoid.

ojr 9y ago

So we should rather invest in IPOs that pop as soon as they're available to retail investors right? If our monetary system was so good we wouldn't be in 19 trillion in debt and cryptocurrencies would have no reason to be adopted, there is a reason why Bitcoin debuted in 2009 after the 2008 Recession... When the government does bailouts and Quantitative Easing, this can be seen as a scam to some

TeMPOraL 9y ago
> So we should rather invest in IPOs that pop as soon as they're available to retail investors right? IPOs are regulated, so there isn't that much of a mess around them, and it's more difficult for people who shouldn't be investing to play that game. That's on purpose, and it came to be through some hard-learned lessons. > If our monetary system was so good we wouldn't be in 19 trillion in debt National / international debt is, first and foremost, a tool, and it doesn't work the same way the "regular" debt does. > and cryptocurrencies would have no reason to be adopted They still don't. They live as long as they get to be financial wild-west, where it's easy to get rich off fools. > there is a reason why Bitcoin debuted in 2009 after the 2008 Recession... Yes, because it was developed around then. > When the government does bailouts and Quantitative Easing, this can be seen as a scam to some Maybe, but then again taxes are seen as theft by some. We can talk about ideologies all day, but in the real world, the "traditional" system still remains somewhat suitable for running a technological civilization, whereas cryptocurrencies are not, and will not because they don't scale well.
- ojr 9y ago
  Facebook, Google, etc, didn't scale well from day one either. The software infrastructure for blockchain space is improving. Cryptocurrencies markets are more egalitarian so they will always be more favorable than traditional markets who tell people they shoudn't invest because they are "less equal".

Firebrand 9y ago

I present to you...BANANA COIN!: https://i.imgur.com/4p7XFyd.jpg https://i.imgur.com/4p7XFyd.jpg