Can you make one percent interest a day investing in flashy ponzi schemes and HYIPs, as long as the music videos are great? No no no! Bitconneeeeect! The latest episode of Junseth’s World takes a look at the exuberance and stupidity of the crypto craze, where the line between scammer and trusted investment advisor is often porous.
Junseth, Dante and crew kick off this week listening to some sage advice from folks who lost most of their savings in Bitconnect, and wondering why they weren’t so sage a few months ago. Adjust your sympathy levels accordingly.
(Editor’s note: For added pathos, read the comments on Bitsonline‘s articles on Bitconnect last year and remember, we warned you.)
But then, is everything else out there any better? We’ve got formerly respected companies like Kodak out there pumping ICOs and industry leaders like Reggie Middleton and John McAfee promoting their interests. Why do crypto investors feel the need for extra platforms and layers of complication, when they could simply buy some coin and hodl?
There’s so much out there — bitcoin doesn’t thrive on good or bad news, just news. And as usual, Junseth and Dante can see right through the BS to the real story.
Next in Line at the Pamping Station
Maybe McAfeecoin or Reggiecoin will pamp next but who knows? Junseth thinks that ultimately, all proof-of-work coins do is take computer work away from other coins. One day, all that work will consolidate around one coin and that’s the one everyone will want.
Companies are all about “utility tokens” for their ICOs now — in fact, they probably have whole teams making up excuses for their pump tokens to have some utility, just so the SEC doesn’t see them as securities.
Who’s going bankrupt, to jail, or scrambling to create a new identity next? Listen to Junseth’s World to find out.
For the Uninitiated: WTF Is Junseth’s World?
Junseth (a.k.a. Joshua Unseth) and partner in podcasting Dante are Bitcoin’s answer to Freakonomics — except they’re actually entertaining.
Adored by most corporate blockchain industry participants and the scourge of that same group, the controversial South Florida residents embody that region’s unique approach to business. They’ve seen and done things for Bitcoin you probably never imagined … and some you wished you could un-imagine.
Somewhere in all of that, you actually get a good education and some surprisingly useful insights into the world of finance, trading, business and economics. Subscribe to the entire series on Soundcloud.
On top of his tireless Bitcoin advocacy, Junseth campaigns to close the gender salary gap in the world of modeling and to abolish attractive-people privilege across all industries.
Do you like Junseth’s World? What would you like us to look at next? Let us know in the comments.
Images via Pixabay, Jon Southurst