Greed And Cryptocurrency
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If you have been following my articles you would know I have once mentioned the fact that my dad isn't a fan of cryptocurrency. Two days ago I was having my usual conversation with him about business and a little bit of cryptocurrency evangelism but he still wasn't seeing reasons with me. He made mention of many major scam incidents supposedly similar to cryptocurrency that happened in the country including the notorious MMM. Today there is no single Nigerian who doesn't know about MMM and that's because at least 20% of the population tried it with hopes of getting so much profit in return.
Funny right? At that time MMM promised to reward investors X2 any amount they invested in the business within a few days. It still amazes me that many people didn't bother to find out exactly how this would happen or where the money was from, all the cared about was the X2 profit they would be making in days. Greed had them calculating returns in their head and smiling sheepishly at themselves, most thought they had hit the mother load and took loans, some sold their cars and houses while others stole from their places of work. Sadly MMM crashed shortly after taking all their money and dreams along with it.
Why do you think so many people fell for such an obvious scam? The simple answer is greed. Looking to reap where you did not sow, trying to make money without having to do anything blinded so many people. Some victims had stroke and died, some became vegetables , some went into debts while others lost their jobs and ended up in prison cells.
This like many other scams are reasons why at least 50% of Nigerians don't believe in cryptocurrency. Many think it's another MMM with a longer name because they do not understand how it works just like my dad. Sadly scammers are still taking advantage of the "still greedy" ones by hiding under the cryptocurrency umbrella because they are still looking for an opportunity to reap where they did not sow. An example of such scam is , buy 50BNB and get 100BNB at the end of the month, most of these victims know so little about cryptocurrency and their greed pushes them even further. Even the best traders can't guarantee 50BNB profit at the end of the month because the market is totally out of anyone's control, well the scammers know that but the greedy ones don't.
Greedy people as well as scammers are reasons why people like my dad would never believe in things like cryptocurrency no matter how much I explain because they know someone that knows someone that got scammed. It is sad how greed affects both victims and people around by creating a fear cloud which blinds them from enjoying legit opportunities. Until people learn to take interest and make proper research about projects before investing, greed will continue to create the fear cloud that will keep them and the people around from taking advantage of the amazing opportunities.
Well i'm in the crypto space but i feel more like your father. So i don't invest or participate in most projects. The problem is most crypto projects are greed driven. That's the reason for the use and why people are here. If there wasn't that element of greed most people wouldn't even use most crypto projects.
Which let's me know that most really aren't significantly useful. That's why i created projects like bitcoin myk. Bitcoin MYK isn't about greed or making you rich. It's about setting people free with the money they earn. It's meant to be a good currency system.
If you think about a good currency system you don't really use it to get rich. You use it because your value is safe in the currency. So i can't blame your father probably about 99.9% of crypto projects are some form of pyramid and ponzi scheme. if you look at all their data they shape up that way. That's why the ownership ratios always look horrible.
Even bitcoin has a rate of about 1% of the network owns about 87%. So if you really want to spread economic prosperity. You do it like credit cards did it. There was a time you could move money with credit cards but only the rich had them. When everyone got credit cards and debit cards they now had freem and access to more goods and services which raised their standard of living. That's how economic prosperity looks.
Bitcoin MYK combines universal basic income with the best elements of cryptocurrency. The problem is in crypto we look at it more like a gambling casino where you have this chip and you hoping the chip lands on black and you make thousands of dollars.
In our system it's about a fair way to value everyones contributions and output and you share in the network value by being part of it. So the system works more like a currency then a business. Why would a project want to make money? That is because it's a business or it's someone at the top incentivized for it to make money. In a currency it's not really anybody at the top per se unless you have some corrupt govt and money scheme. In Bitcoin MYK there is not really a goal to make money but to be an effective currency system or medium of exchange.
However the basic concept is a currency is just a medium of exchange. You wanna use the most safe and efficient currency systems and that's generally not going to be the govt these days because the government we know can print more money and effectively change the supply. So no we have technology that's not a problem. However i think your father is smart. Although i don't believe hive naturally tries to be it within itself follows a pyramid pattern.
So this is why mass adoption will never happen in many of these projects. They don't understand that greed is hindering them. They should focus on a useful system that really serves our global economy and not just on if they can build something like a business to make money. We already have countless businesses around the globe. We don't have the most efficient currency system which in the end equals economic prosperity.
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Is not good to be greedy. Greedy can cause you to loose many things including your money. That's while is good to be compounding your money in anything you are doing even in Crypto currency. You can't put all your money in crypto currency,not when the bearish trend will activate, you start shaking that crypto currency has crash but nobody will no that you are greedy but if you are compounding your crypto currency when it bearish trend, you will know that bullish trend will still be activated not to be shaking like tennis ball.
Thanks for the information.
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