EFL has thrown out all my thoughts of what will make money out the window. You just need 3 ingredients for financial success.
1. A few people own most the coins with at least one being able to bankroll it with enough funds.
2. Wait until PoW phase is almost over before starting to pump the coin as the price can be easily manipulated.
3. Start marketing the coin when the PoW phase is almost ended so the only ones dumping is the less then 5 people who own majority of the coins.
I am onboard this train to making money even if the Ponzi isn't intentional it's exactly what it will end up being.
You have a blinkered view of the matter. The view of making money for oneself (although there is nothing wrong with that) instead of making a better future for all. A better future would be a stronger economy than we have now.
When bitcoin and the robust altcoins along side would break through would you change them for fiat ? You only would if that's the only way to spend them, because spending is the only way to feel rich. If it becomes possible and easy to spend your coins parallel of fiat, anyone would favor your coins, because your coins assure wealth and represent real property, whereas fiat assures >4% inflation each year and represent debt.
A ponzi scheme is when you would reward investers with money that comes from new investors and promise these new investors any return. Cryptocurrency is not a promise but a commodity. It is real property. You can prove that you have it. So if you pay for it you get some. There is no proof or promise that it's value will rise. That is rare nowadays. Even the gold market has become a ponzi scheme because there is a lot more paper gold than real gold.
So please don't use the word ponzi when you refer to cryptocurrency, because it is the exact opposite. You are behaving like the media are behaving. You can do better than that I am sure !
@Bitwise-shifted, I couldn't have said it better myself, thank you.
karma comes back around
