Crypto made me understand how much money are laying around. Now only if I could build a product people wanted...there is literarily money growing on trees.
Well I don't favor fraud, but crypto fraud has shown there is plenty of disposable income and it would appear greed. The very people that scream greed at capitalism don't seem to mind scamming other people if they are promised high returns.
My point tho is that people have a lot money laying around.
My point tho is that people have a lot money laying around.
They don't. The taxi drivers, hairdressers, and hotel doormen that got caught up in crypto are going to lose a significant chunk of their life savings if these exchanges blow up. There's 2-3 trillion dollars in crypto at this point, how much of that is from unsophisticated retail investors? A quarter? Half? Nobody knows.
> There's 2-3 trillion dollars in crypto at this point...
No, there's not.
Issuing a trillion CJCOINs and selling one for $1 gives me a trillion dollar market cap, by cryptocurrency valuation standards. There's not actually a trillion dollars invested into the CJCOIN ecosystem.
I'm not sure it's accurate to characterize everything going into crypto "disposable income". The Celsius Network collapse yielded some pretty devastating appeals[0] to the bankruptcy court for the return of people's life savings.
Crypto made me understand how much money are laying around. Now only if I could build a product people wanted...there is literarily money growing on trees.