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The first time I came across a pyramid scheme was in my late teens - where the game was literally: "you give money to me and they'll give money to you". A lot
by libertine 4y ago
The first time I came across a pyramid scheme was in my late teens - where the game was literally: "you give money to me and they'll give money to you".
A lot of friends of mine were "playing" it. Regular people.
I didn't play not because I was smarter then them, but because I didn't care and I didn't have much money to play around with, but in the end it's all about mixing:
- how you're introduced to the game by people you trust (like friends);
- the prospect of wins;
- naivety;
I'm sure the large majority of the people that bought NFTs didn't even thought about the technical part of the game. And you just need to attend some communities on discord and reddit to understand the level a lot of people were playing.
Some people actually believed that complex games were going to be created, that would bring NFTs ingame - similar to Ready Player One movie - and everything would interact with that world. Everyone was having fun, and some even made money, how can kids understand it was all a scam?
So the question might even be, how didn't more people get scammed? Like, what stopped people from hopping in this frenzy?
Maybe the reality was that they were just busy with other stuff.
Social engineering alone was enough to perform criminal activities with little to no repercussions.
- BeFlatXIII 4y agoWas it the airplane game?
- jaclaz 4y agoI had the same thought. Though - to be fair - that old pyramid scheme costed only little money[1], so it was "affordable" to many, when we are talking of NFT's (or of those people that get burned because they put all their savings in a cryptocurrency that goes down to 0 or similar) and of hundreds of thousands (or millions) it is perplexing (to me) how they can risk all that money. [1] taking into acoount inflation and what not it could have been at the time the same as 100 or 200 Euro, or if you prefer a dinner or two at the restaurant.
- cortesoft 4y agoChain letters were a thing when I was a kid 30 years ago. You were supposed to send a dollar to the person a the top of a list of like 4 people, then move everyone up one spot on the list and and put your name at the bottom and send it to 10 people with the same instructions. If everyone did it, you would end up receiving $10,000. Of course, some simple math will tell you that you will run out of people in the world very quickly. People love free money and are bad at math.
- nunez 4y agoairplane game!