Thursday, January 04, 2018

So pyramid schemey.

I sort of LOVE infomercials. I think it's because my Uncle went after every get rich quick scheme he could find. And then he wouldn't even do the work, but those companies still took money straight out of my Aunt and Uncles bank account every single month.

So I really became fascinated with infomercials because they are so manipulative. I literally will watch every single infomercial that comes across the TV.

Last night I ran across a tweet about Ripple which forwarded me to this site. I admit up front I don't quite understand it. Somehow you are earning interest for just sitting on your Ripple coins. Banks loan money with the money you give them and then pay you interest on that money. So, I don't really get where the interest money they are paying you is coming from. But it seems like a pyramid scheme to me. All the way down to the adoring comments. It's like watching QVC and having the guys in the backroom call in and gush over a product.

The sad thing is they are goading these people into buy and holders, and I'm betting these are the least sophisticated investors on the planet. Like.... my Uncle. I could totally see him doing this.

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