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care to explain why are they pyramid?
because crypto does not produce anything. There is nothing to value it to be based on. People only speculate the value. It totally depends on the next person pay the crypto to get the price for the assest. For example, I can create a company and issue 100 shares. If I can persuade 1 person on the street to buy one share for $50, my company would be worth 50x100 = 5000.
Max Fosh did a video about that last bit.
https://youtu.be/iHfJRON3b-w?si=eSRH6YY3gLRsStAVisn't it the same with gold?
@pembajak_sejati: Gold has real world use.
Like in almost all electronics
I don't necessarily disagree with you here but I think you're over-generalising the whole sector. To be honest, it's no different than fiat right now. Countries can just "print" an unlimited amount of currency that has "value".
Bear in mind, buying a crypto asset is NOT equivalent to buying a share of that company - you own no share in that company by owning a crypto produced by that company. You're essentially buying a product.
There are projects out there with absolutely legitimate use cases and are likely to become the future of tech. Of course they're surrounded by a whole bunch of hyped up useless crap but I wouldn't say you should totally disregard the sector and the work some of those companies are doing.
I think the large issue is association to money (hence "value") - if it was kept just to tech and development it would be pure… unfortunately the world runs on money.
@Maestrok: You explained it well. Thanks.
I agree with the sentiment. They are part pyramid scam, part black market currency. Terrorist organisations love crypto.
Agree. It's such a scam
Wait until you find out how much crypto Australia and governments around the world own.
Waiting…
US government alone is around $5billion thanks to the silk road drug site.
https://www.nasdaq.com/articles/us-sells-9800-bitcoin-seized…
This isnt selling crypto. Its selling a tax report… The only pyramid scams in there are some multilevel marketing training courses, and they are only as dodgy as every other MLM that pushes recruitment. It's easy to hate on something when you have been burnt. 95% of day traders lose money. The best thing you can do is research before you FOMO into anything.
Larry Fink just called Bitcoin a "flight to quality" and you guys are calling it a scam haha.
No problem, everyone will own it soon in their superannuation without even knowing.
How is this a bargain though? Seems more like using OzB for free advertising.
I don't know, I didn't post it, its 30% off.
I agree… don't think this is a bargain as been cheaper in the past but either way it's not referring to buying crypto (unlike those "deals" that say put X amount of $$ into an unsecure crypto broker)..this "deal" is for a 30% off a tax service. I guess they're trying to target those procrastinators that have 2 more weeks to submit tax haha.
Maybe only worth it for those that took the wrong road down crypto and have a huge mess of data to figure out. Just like walking into a tax service with a box full of receipts and getting them to sort it out for ya?
Larry Fink
Doesn't give free investment advice. If they gave good free advice Blackrock would go out of business and put their competitors out of business.
They are talking their own book because they want to be taking your money and investing it in crypto and charging you the management fee whether it goes up or down. That is the Blackrock business: asset management. More money they get the more money they make.
100%.
But first they need to pump their bags and create a new narrative.
No-one with a brain would be investing in bitcoin for their super.
Because crypto shouldn't even be considered a profitable thing. If you want it to be legitimised, stop pushing the notion of it being an investment. Because SOMEONE has to lose out for you to profit with crypto and it has no use outside of as a currency.Well, if Larry Fink used some jargon to sell some shit then I change my mind and I'm all in baby.
Up 30% since this comment. Well Done.
Never go against the finkster baby
Waiting for the 100% deal