I’ve been wondering about it for quite some time, note that I know practically nothing how crypto market works.
Assuming you are jumping into a crypto project of a known scamer, like Mr. Logan. If you’re expecting it to be a rug pull, is there anything that stops you from pulling out AFTER other morons buy in and BEFORE the founders pull out crashing the value?
In: Technology
Usually, the initial members or early investors in a pyramid scheme do make money. A lot of people made money under Bernie Madoff. It’s why he was able to keep up his scheme for so long.
The problem is, if you make money on a scheme, you will likely invest that money back into the scheme. If you keep reinvesting your profits, you will eventually lose it all. You might think you’re smart and you will settle when you feel comfortable. But, if you’re the type of person trying to out-gamble the casino, you’re also the type of person that will never leave the casino until you’re bankrupt.
For example, you might be expecting a rug pull so you exit early for a bit of profit. The rug pull is taking longer than you anticipated so you reinvest and do it all again. Maybe the scheme is set to end in a year or longer and you begin to think it’s a legit operation, after all, you’re consistently making profit.
It’s a tight rope to walk.
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