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This is 2017 all over again, back then it was worthless ICOs, now it's fake defi projects or meme coins doing the same. It attracts the same kind of people too,
by rawtxapp 5y ago
This is 2017 all over again, back then it was worthless ICOs, now it's fake defi projects or meme coins doing the same. It attracts the same kind of people too, quick money chasers and ends up with relatively same results, large losses for most.
- ElViajero 5y agoI completely agree. The trick is the same, create a complex product that is going to make it hard to regulate and sell it to unsophisticated investors that are blinded by the rapid initial gains. When it explodes let others fix the resulting mess and run with as many money as you can. The only good part is something as fundamental as homes is not part of the schema. I hope that this reduces the size of the impact in the general economy.
- v77 5y agoThis is a point that's understated. Problems in the stock market hurt the real economy, problems in the crypto market hit an insular community of people who are trying to scam each other, much less of a societal issue.