01-22-2022, 10:33 PM
(01-22-2022, 10:26 PM)Guest Wrote: I know you hate reading but does any of this make sense ?
https://jacobinmag.com/2022/01/cryptocur...ralization
NFTs are playing out like a ponzi scheme lately because A LOT of people are getting sucked up into 'em in a "tulip mania" kind of craze.
One NFT from a collection will sell for a super high price (rigged by founders/OG investors), and then people will flock to buy more from that collection due to the hype, when in reality, in the future, the collection probably ain't gonna go anywhere else too major.
Alt coins themselves can be very similar, only it's clearer with them than it is with the NFTs... with the NFTs, you really gotta be able to sniff out ponzi schemes, and a lot of folks are too susceptible and can't really do that.
If people are wary of crypto, just buy the level best... Bitcoin, Ethereum, and some of the other most popular and widely touted alt coins. Otherwise, there's gonna be a lot of regret among those who miss out. I mean, for example... if a person liked to kick themselves over missing out on shit, any of one of us could be kicking ourselves for not buying Bitcoin when it was like $10, because now from 2022, we know that BTC reached a high of ~$60k. And it will soar far beyond that in the future.
So no... in short, crypto itself is not a ponzi scheme. It's the future, so get yourself some BTC and ETH (at least) while the prices are low like they are at the time of writing.
