This sounds like an effort to drive up the price of a given crypto product similar to how concert tickets or sporting event tickets are price manipulated. Filling all the seats (promoting a crypto coin) would create an artificial scarcity driving up prices. Initial holders, would be able to sell their holdings at greatly inflated prices, which would be similar to a tax on society, but the profit going to the initial holders.
Also, with a crypto coin, I bet the risks of significant price swings would greatly challenge people who attempted this as a retirement vehicle.
n4r9 32 days ago [-]
> the risks of significant price swings would greatly challenge people who attempted this as a retirement vehicle
The reason most people are reluctant to invest in cryptocurrencies is the lack of legal recourse in case something goes wrong, or someone tries to swindle you. Bitcoin is hyped as being decentralised and regulated. But that makes people with pensions, dependents, or a mortgage very reluctant. They want the bank or the government to be able to step in and fix things.
Also, with a crypto coin, I bet the risks of significant price swings would greatly challenge people who attempted this as a retirement vehicle.
The reason most people are reluctant to invest in cryptocurrencies is the lack of legal recourse in case something goes wrong, or someone tries to swindle you. Bitcoin is hyped as being decentralised and regulated. But that makes people with pensions, dependents, or a mortgage very reluctant. They want the bank or the government to be able to step in and fix things.