04-30-2021, 04:56 AM
More and more projects seem like a Ponzi. Change my mind
<!-- SC_OFF --><div class="md"><p>I was looking at the posts today and noticed that increasingly there are posts like: "stake this -APY 50%, stake that on DeF API 200%. Change my mind or downvote me if you like, but WHERE DOES THE MONEY for this COME FROM? Most likely from suckers who fall into this coming for quick gains. I would like to see a reasonable explanation how this money is created, or if it's made from thin air ? Back in my day, this was the literal definition of a Ponzi scheme and a HUGE red flag.</p> <p>I would like to be wrong as a crypto enthusiast but I fear for the worst, again after 2017.</p> <p>EDIT: just to reiterate, because some people seem to think that I'm a noob, I'm in the space since 2016, and I've seen it all, from ICO's to even Bitconnect (Wassawassa) . My main problem is that here value is being created out of thin air and has no correlation to anything.</p> <p>EDIT 2: I don't really understand the downvotes, i actually think we had a couple of good insights and discussions.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/bronic12"> /u/bronic12 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n12oru/more_and_more_projects_seem_like_a_ponzi_change/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n12oru/more_and_more_projects_seem_like_a_ponzi_change/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I was looking at the posts today and noticed that increasingly there are posts like: "stake this -APY 50%, stake that on DeF API 200%. Change my mind or downvote me if you like, but WHERE DOES THE MONEY for this COME FROM? Most likely from suckers who fall into this coming for quick gains. I would like to see a reasonable explanation how this money is created, or if it's made from thin air ? Back in my day, this was the literal definition of a Ponzi scheme and a HUGE red flag.</p> <p>I would like to be wrong as a crypto enthusiast but I fear for the worst, again after 2017.</p> <p>EDIT: just to reiterate, because some people seem to think that I'm a noob, I'm in the space since 2016, and I've seen it all, from ICO's to even Bitconnect (Wassawassa) . My main problem is that here value is being created out of thin air and has no correlation to anything.</p> <p>EDIT 2: I don't really understand the downvotes, i actually think we had a couple of good insights and discussions.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/bronic12"> /u/bronic12 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n12oru/more_and_more_projects_seem_like_a_ponzi_change/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n12oru/more_and_more_projects_seem_like_a_ponzi_change/">[comments]</a></span>Kind Regards R