I’ve been a member for a while and as it’s free crypto was keen to just see where it went. However now they are forcing us to buy 200 SG through the app otherwise you lose heaps of benefits.
I’m open to it but not so much due to what is happening in the crypto market. What are you all thinking?
Looks like they have money troubles…..
Another pyramid scheme?
No more VCs giving them money to burn?
Crypto crowd hates being called a ponzi / pyramid scheme. The problem is they have a solution they try to invent a business around.
You don't see the ASX run a hedge fund (FTX) neither do they send client money to that hedge fund to bail them out.
Think on Twitter they pointed out the head of risk for FTX was former Credit Suisse implying that is why FTX failed. Credit Suisse is still standing and been around for 100 years so management at FTX probably didn't listen to said Credit Suisse people. Also like the idea fiat is trash but it seems like trash is still working okay unfortunately you might get cents in the dollar from your FTX holdings (that is the currency debasement they were talking about where your $1 becomes like 20c)
When they said about the greatest movement of wealth in history they were not wrong. I think the rich got richer again because there is no rules.
Credit Suisse is still standing and been around for 100 years
Have you been under a rock or is your lack of knowledge on the topic so thick you missed how they were bailed out by 20banks and firms to the tune of $4billion dollars and sold off their 120yr old flagship hotel to get cash.
WOW No need to speak to anyone like that. I’m sure there are things you don’t know.
I’m sure there are things you don’t know
Crypto bros know everything. In this case they know CS was bailed out but can't explain why nobody is watch each other's back in crypto. It is just full of rug pulls, hacks and in this case taking crypto bros money (client money on FTX) and lending it to crypto bros (Alameda) that aren't that actually good bros.
Have you been under a rock or is your lack of knowledge on the topic so thick you missed how they were bailed out by 20banks and firms to the tune of $4billion dollars and sold off their 120yr old flagship hotel to get cash.
They weren't bailed out. They bought back $3bn of debt to prove they didn't have liquidity issues.
Crypto is just going to be a punchline for the rest of our lives. Like Beanie Babies. Or Dutch tulips.
It is going to be way better. Theory is that FTX is just the beginning, not even peak yet another bigger con artist is yet to appear.
We're just likely it's only fake coins and people who chose to get involved, and not the housing market or banks or anything that'll affect innocent people too much.
True. It is as entertaining as Elon Musk running Twitter. A US senator complained to Elon Musk an impersonator was able to get a verified account under his name. Elon Musk said "that is because your real account looks like a parody" :D
I still got people asking whether now is a good time to buy bitcoin LOLOLOLOLOL (as Rektrading used to say to me)
Like Beanie Babies
at least collectors got Beanie Babies to show for after alls said and done…
all i have to show is my dead end job, crippling depression and stress eating/smoking/drinking :)
So a bunch of numbers or a physical toy?
I go for the physical toys, apart from my day job where I deal with analyzing computer data where once a month I get a bunch of numbers transferred to my bank account which I can then physically withdraw to buy physical toys…. So always go for the toys.
Wouldn't bother. SG has peaked and gone down.
Any place that makes you do that and watch a 5 minute video on why SG is the best invention ever is not good.
Ok, so now the value is back up. After maybe 2 years I have SG104,000, currently valued at US$5100. That's all fine and dandy, BUT I can only withdraw 34 US cents! If I can refer 2 other people and they use it, I can then withdraw US$200.
So yes, you can earn and yes, have a decent value in it, but you can never actually get much cash out. I suspect there are a bunch of hustlers at SG headquarters cashing in on the price rise while we mugs do all the slog work raising the value for them.
Yeah it’s not great. I’ve got less than that but need to make a $50 minimum purchase before I can withdraw. Don’t want to buy something just for the sake of it.
and now they've raised the price of 'Premium membership' to SG80,000 (about US$4000!). Who the heck is going to pay that?
Oh WTF…yeah ridiculous!!!
Looks like SG is only .1439 so like.. 30 aud equivalent?
At one point they were putting out absolutely wild incentives to use this crypto scheme. i seem to remember levity spruiking it every second he could.
Havent seen anything in a while about SG - so what incentives are left?