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Sadly, people have blind spots. I personally know someone who just like 40-50k, someone who was THE biggest advocate of Terra/Luna. Post crash? Reinvesting in L
by itsmemattchung 4y ago
Sadly, people have blind spots. I personally know someone who just like 40-50k, someone who was THE biggest advocate of Terra/Luna. Post crash? Reinvesting in Luna2.0
- sytelus 4y agoFool me once, fool me twice... wow! It is this time when I think about all the people who cry about SEC regulations and argue that people are intelligent and need not be protected from scammers like this.
- radicaldreamer 4y agoThey’re part of a cult. Prophecies not happening actually strengthen their belief in the cult.
- mike_d 4y agoI know tons of people who made double digit millions in bitcoin. They put 10k to 50k early money in most projects they come across. Maybe 10% come out with a positive ROI of >1000%. Crypto is no more of a scam than venture capital.
- namdnay 4y agoThe fundamental difference being that from time to time, companies funded by VC actually build a product that is sold to the non-investing public. If VC were like crypto, they’d only be funding startups whose objective would be to raise more money from other VCs
- tluyben2 4y ago> If VC were like crypto, they’d only be funding startups whose objective would be to raise more money from other VCs And this is not often the case? I mean for crypto it's basically only that, but there are quite a bunch of VC funded companies that just live on raise followed by raise. They won't say that out loud, but nor will crypto many crypto companies.
- namdnay 4y agoagreed, the difference being that those are bad apples in the VC basket, whereas they're the only apples in the crypto basket. which crypto unicorn has a product that it sells to non-investors? not a single one
- greyhair 4y agoCrypto feels a lot more like a pyramid scheme or MLM than typical VC