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Serious question - who's buying all this crap?

• giarc 9y ago
  I see a ton of people on Facebook talking about how they have everything in "crypto" now. People that probably shouldn't be speculating with their entire savings. It's the old saying that when your cab driver is giving you stock tips, it's time to get out.
  • arisAlexis 9y ago
    first of all that was a PR stunt. secondly the real danger as someone put it is not having money in crupto while world debt is record high and fiat currencies are going down and Blockchain is a paradigm shift.
• crispyporkbites 9y ago
  Mostly the founders and existing whales buying their own coins. A number of the ICOs are raising millions with only a couple hundred different investors (it’s a little club). Then when the coin is traded on the market the “investors” sell a portion for a massive profit.
• drchaos 9y ago
  It is a valid strategy to invest a small amount into a lot of ICOs, hoping that a few will rise very high and therefore make up for the loss of the rest. That's actually more or less what many VCs do, after all. As long as the majority of ICOs is honest, the occasional scam doesn't make much of a difference with that strategy. Investing a lot of money just into one or only a few ICOs is insane, of course.
  • ohazi 9y ago
    "As long as the majority of ICOs is honest" This... doesn't seem true.