But high yields may be sustainable given that borrowing is expensive.
TFA addresses this point. They are paying a significantly higher yield than they are charging in interest.
The biggest crypto lending company is a ponzi scheme
41–50 of 429 posts
Re: The biggest crypto lending company is a ponzi scheme
#42Earlier quoted context omitted.
It will remain a very useful medium of exchange? Are you saying that today it is a very useful medium of exchange? Are you using it that way?
It's better than trading pre-paid phone credit plans!
Have you ever paid for a sandwich with pre-paid phone credit? In places where it's used, it's surprisingly usable.
Re: The biggest crypto lending company is a ponzi scheme
#43Crypto and NFT is one big ponzi scheme. Who on earth is spending $000,000s on a virtual ship? I sense it is a case of somebody close to the NFT or virtual world buying the asset and making out it is a great thing and then selling it on quickly. Many a scam involves somebody from the group buying something so the unwilling feel like it safe. As always, don't be left holding the baby.
How is spending $1 000 000 on a "virtual image" (NFT) any different than spending it on a Picasso? There are equivalent/superior copies of both readily available, but some people value provenance...
Re: The biggest crypto lending company is a ponzi scheme
#44The early "wild west" days of new concepts/ideas tend to attract scammer types like this. For the most part, it tends to level out over time and the fraudulent parties are dealt with.
Yeah!
How can we forget new concepts and ideas such as "the Indian Removal Act"?
Re: The biggest crypto lending company is a ponzi scheme
#45We keep expecting crypto to die but then again, we still have antivirus software that is spyware (avast), a scammy vpn industry, and a thriving anti vax movement. No matter how absurd it is, it might stick around for a long time now
This all true, but avast and the vpn industry are 2 orders of magnitude smaller than the crypto.
Crypto sure has a vested intrerest in making it seem that way: https://www.investopedia.com/news/are-cryptos-high-trading-v...
Re: The biggest crypto lending company is a ponzi scheme
#46“10 to 12.68% annual returns on USD stable coins and this with little to no risks.”
well… I mean…
Re: The biggest crypto lending company is a ponzi scheme
#47Earlier quoted context omitted.
I'm not a huge fan of the the current cryptocurrency scene, but I think it will remain very useful as a medium of exchange and store of value in unstable parts of the globe for years to come.
It will remain a very useful medium of exchange? Are you saying that today it is a very useful medium of exchange? Are you using it that way?
It seems pretty clear that is what they are saying based on their choice of words.
Re: The biggest crypto lending company is a ponzi scheme
#48Crypto and NFT is one big ponzi scheme. Who on earth is spending $000,000s on a virtual ship? I sense it is a case of somebody close to the NFT or virtual world buying the asset and making out it is a great thing and then selling it on quickly. Many a scam involves somebody from the group buying something so the unwilling feel like it safe. As always, don't be left holding the baby.
> Who on earth is spending $000,000s on a virtual ship? Money laundering?
True, but it seems like there would be many better ways to do that...i.e. a not particularly successful simple business mixed with personal funds.
Re: The biggest crypto lending company is a ponzi scheme
#49We keep expecting crypto to die but then again, we still have antivirus software that is spyware (avast), a scammy vpn industry, and a thriving anti vax movement. No matter how absurd it is, it might stick around for a long time now
> We keep expecting crypto to die Is that the royal "we", or do you mean to include other people that may or may not share your opinion?
Probably he means to include other people who do share his opinions, and not those who don't? "We" doesn't mean "everyone", or even "everyone who reads this"; it means "some contextual set of people of which I am a member".
Re: The biggest crypto lending company is a ponzi scheme
#50Earlier quoted context omitted.
This all true, but avast and the vpn industry are 2 orders of magnitude smaller than the crypto.
And anti-virus and VPN industry problems don't pose a systemic risk to the Western economy (I say Western because China etc. have cracked down on cryptocurrency schemes).
Neither does crypto.