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The 2021 signal is all the high school students telling you what altcoins to buy. And just wait till you see what is going on with Decentralised Finance. http

The 2021 signal is all the high school students telling you what altcoins to buy. And just wait till you see what is going on with Decentralised Finance. https://coinmarketcap.com/yield-farming/ https://coinmarketcap.com/yield-farming/ Sort that by Highest APYs. It fluctuates all the time but the numbers are getting as high as 1,000,000% APY. There is no world in which that can be anything but a Ponzi scheme. People are actually buying into these things.

koolba 6y ago
Wtf is a pancake swap?
- LittlePeter 6y ago
  Or another one: sushi swap. Perhaps this should be a measure of a bubble too: when you ran out of names and you start using food to name financial contracts.
PragmaticPulp 6y ago
The strange thing about Ponzi schemes is that they can be very popular, even if participants know they're join a Ponzi scheme. The MMM Global ponzi scheme has been operating in the open for about a decade: https://en.wikipedia.org/wiki/MMM_Global https://en.wikipedia.org/wiki/MMM_Global Ponzi schemes benefit greatly from a public perception that "all markets are rigged". Ponzi schemes can feel like a rigged game where they have a chance to get in on the ground floor of a rigged game. They also benefit from false equivalencies such as "after all, nothing good lasts forever" to make ponzi schemes feel like just another bull market opportunity that won't last forever. It's akin to gambling. Many entrants tell themselves they'll only allocate as much money as they have to lose, or that they'll withdraw their initial investment after the first 100% gain. Sadly, they usually get overconfident when the scheme doesn't immediately collapse and end up investing far more than they would normally be willing to risk.
- AngrySkillzz 6y ago
  Yeah, the unfortunate consequence of the widespread misunderstanding and demonization of finance is that everyone thinks its all "made up" or "rigged," and then when they see something that REALLY IS rigged they think it's normal.

koolba 6y ago

Wtf is a pancake swap?

LittlePeter 6y ago
Or another one: sushi swap. Perhaps this should be a measure of a bubble too: when you ran out of names and you start using food to name financial contracts.

PragmaticPulp 6y ago

The strange thing about Ponzi schemes is that they can be very popular, even if participants know they're join a Ponzi scheme. The MMM Global ponzi scheme has been operating in the open for about a decade: https://en.wikipedia.org/wiki/MMM_Global https://en.wikipedia.org/wiki/MMM_Global Ponzi schemes benefit greatly from a public perception that "all markets are rigged". Ponzi schemes can feel like a rigged game where they have a chance to get in on the ground floor of a rigged game. They also benefit from false equivalencies such as "after all, nothing good lasts forever" to make ponzi schemes feel like just another bull market opportunity that won't last forever. It's akin to gambling. Many entrants tell themselves they'll only allocate as much money as they have to lose, or that they'll withdraw their initial investment after the first 100% gain. Sadly, they usually get overconfident when the scheme doesn't immediately collapse and end up investing far more than they would normally be willing to risk.

AngrySkillzz 6y ago
Yeah, the unfortunate consequence of the widespread misunderstanding and demonization of finance is that everyone thinks its all "made up" or "rigged," and then when they see something that REALLY IS rigged they think it's normal.