But the guy who wrote the article is sure ad spend on crypto is coming back.
Maybe not. Most of crypto works like a Ponzi scheme. Gains to early investors come from later investors. Eventually, you run out of suckers. We're there.
Last 24 hours:
- Someone pulled another $160 million out of USDT. Look at their market cap graph for the last 3 months. Every few days, somebody pulls out another $100 million+ amount. Pretty soon you're talking about real money.[1]
- Vauld went bust.[2]
- The Celsius collapse is affecting Aave and MakerDAO.[3]
All those "staking" schemes are based entirely on a "line goes up" assumption. All they are doing is feeding funds into some speculation.
Maybe not. Most of crypto works like a Ponzi scheme. Gains to early investors come from later investors. Eventually, you run out of suckers. We're there.
Last 24 hours:
- Someone pulled another $160 million out of USDT. Look at their market cap graph for the last 3 months. Every few days, somebody pulls out another $100 million+ amount. Pretty soon you're talking about real money.[1]
- Vauld went bust.[2]
- The Celsius collapse is affecting Aave and MakerDAO.[3]
All those "staking" schemes are based entirely on a "line goes up" assumption. All they are doing is feeding funds into some speculation.
[1] https://coinmarketcap.com/currencies/tether/
[2] https://news.ycombinator.com/item?id=31974146
[3] https://cointelegraph.com/news/maker-cuts-off-aave-s-dai-sup...