Post
Topic
Board Lending
Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"
by
JoelKatz
on 22/08/2012, 12:26:29 UTC
In my humble opinion, you are being dismissive because you're convinced that it would be best if everyone stopped investing in these schemes.
Yes, exactly. Legitimate investments don't involve a complete absence of disclosure of what you're investing in, no way to estimate the actual level of risk, and no way to tell whether claimed losses were actually incurred or whether claimed profits were actually legitimate. No honest person should ask for investments on terms only a fool would accept.

We have actually seen offers that were basically: "Give me some money to invest, if I make money, I'll share it with you. Otherwise, you'll have to take my word that I actually lost your money in some kind of actual investment". That was literally all they were saying. And people were actually taking this offer seriously. That shows that this community is massively disconnected from reality.

Quote
Although I agree with the sentiment, that approach is hopeless.
I'm not giving up so easily.