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I can't believe the buy in is $1000, it would have to be a AAAA game to demand that price tag, but it's not so it's just a disguised Ponzi scheme. The way the

I can't believe the buy in is $1000, it would have to be a AAAA game to demand that price tag, but it's not so it's just a disguised Ponzi scheme. The way the media have been reporting this as a way for Filipinos to earn income is disgusting, because they're tricking financially challenged people to fall for this Ponzi scheme by making it look legitimate with the media attention.

chii 5y ago
Just like herbalife or many of those MLM schemes, the initial entry fee does sound like scam. I wonder how long it takes to earn back the initial entry fee?
- unnouinceput 5y ago
  And let's not forget the oldest of them all, Star Citizen. Bet another pandemic will come and go and that game will still be in alpha
  - skinkestek 5y ago
    > And let's not forget the oldest of them all, Star Citizen. Definitely not the oldest..?
  - Jolter 5y ago
    Did SC really promise financial returns? My impression was it did not.
ec109685 5y ago
They talk about the economics here and payback time: https://medium.com/coinmonks/axie-infinity-a-developing-worlds-messiah-or-the-biggest-ponzi-scheme-in-crypto-right-now-564ecfb62054 https://medium.com/coinmonks/axie-infinity-a-developing-worl...
Animats 5y ago
It works kind of like Pokemon. You need some starter Axies to breed and fight.[1] There are people offering "scholarships" where they loan you Axies to grind. This was profitable last summer but is now a lose for both parties. [1] https://leveldash.com/how-much-to-start-playing-axie-infinity https://leveldash.com/how-much-to-start-playing-axie-infinit...
kingcharles 5y ago
Not just financially-challenged, but under-educated too. If your education was sub-par then it's easy to get tricked, especially with something as complex as the crypto world, where someone like me who had a great education, minted Satoshi's finest like they were water from a firehose, and almost 40 years of coding, still has a really hard time understanding the current plethora of blockchain shenanigans.
- Siira 5y ago
  When you don’t have any evidence why an investment is sound, you simply should not invest.
  - dreinhardt 5y ago
    You need education to know that.
    - Siira 5y ago
      It wasn’t included in my formal education, for sure.

chii 5y ago

Just like herbalife or many of those MLM schemes, the initial entry fee does sound like scam. I wonder how long it takes to earn back the initial entry fee?

unnouinceput 5y ago
And let's not forget the oldest of them all, Star Citizen. Bet another pandemic will come and go and that game will still be in alpha
- skinkestek 5y ago
  > And let's not forget the oldest of them all, Star Citizen. Definitely not the oldest..?
- Jolter 5y ago
  Did SC really promise financial returns? My impression was it did not.

ec109685 5y ago

They talk about the economics here and payback time: https://medium.com/coinmonks/axie-infinity-a-developing-worlds-messiah-or-the-biggest-ponzi-scheme-in-crypto-right-now-564ecfb62054 https://medium.com/coinmonks/axie-infinity-a-developing-worl...

Animats 5y ago

It works kind of like Pokemon. You need some starter Axies to breed and fight.[1] There are people offering "scholarships" where they loan you Axies to grind. This was profitable last summer but is now a lose for both parties. [1] https://leveldash.com/how-much-to-start-playing-axie-infinity https://leveldash.com/how-much-to-start-playing-axie-infinit...

kingcharles 5y ago

Not just financially-challenged, but under-educated too. If your education was sub-par then it's easy to get tricked, especially with something as complex as the crypto world, where someone like me who had a great education, minted Satoshi's finest like they were water from a firehose, and almost 40 years of coding, still has a really hard time understanding the current plethora of blockchain shenanigans.

Siira 5y ago
When you don’t have any evidence why an investment is sound, you simply should not invest.
- dreinhardt 5y ago
  You need education to know that.
  - Siira 5y ago
    It wasn’t included in my formal education, for sure.