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Posted

I still maintain is the ultimate pyramid scheme where only the initial "investors" get really rich - after that there is a descending scale of profit until it tanks really badly and the vast majority of people get screwed.

 

I feel this video sums this paragraph up quite well

 

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Posted

I still maintain is the ultimate pyramid scheme where only the initial "investors" get really rich - after that there is a descending scale of profit until it tanks really badly and the vast majority of people get screwed.

You are not far off IMO. Read a stat that 40% of BTC in circulation is held by about 100 individuals. That makes the model very susceptible to manipulation and pump & dump movements. I personally know of one person with significant holdings in BTC, and they are very much profiting from these massive movements. I believe a lot of it is being coordinated on Telegram groups.

Posted

Good pushback from Crypto last night... luckily I had just bought back in figuring we were somewhere near the bottom of this little cliff. Managed to increase my Ethereum holding nearly 25% through this little slump... could of been better if I'd gotten out a little earlier, could of been worse too though I guess  :blush: 

Fun and games

  • 2 weeks later...
Posted

Very quiet on here... at this point, if you didn't pull your cash a while back, you probably may as well HODL  :whistling:

 

I luckily decided to get my little bit out weeks ago, the clampdown form governments seems relentless as the moment and has most people running

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