PIVX CRYPTOCURRENCY ~ Cult, Scam or Ponzi Scheme?
The OverLords at PIVX are pushing it as a 'community.' The Church of Scientology is also a 'community'...
The PIVX 'community' on Slack is eager and willing to 'help' those new to to forum. Help them 'invest' their money in PIVX...help them 'support' the rise of the cryptocurrency. Help answer any questions those new to the forum, to cryptocurrency. or to PIVX may have. Well, not any questions. Only the ones that don't challenge the group-think. ..
Close investigation reveals that, like many of the dot.com companies that rose and fell during the boom and subsequent crash, the BigGuys&OR&Gals are making out like bandits while the LittlePeople being roped into the PIVX 'feel-good scheme' are just there to provide shoulders for those making the big bucks to stand on in order to reach the goodies at the top.
Long Story Short:: If you're a real player, with at least $ 2,000 to put into the scheme, you can, for now turn a few bucks with their 'staking' process. You'll make out well enough to encourage you to make an even bigger investment. Sound familiar?
If you are the average Jane&OR&Joe Sheeple and you inquire on PIVX 'support' forums you'll get a lot of double-talk designed to distract you from the basic fact that 'little' investors will not 'earn' anything from PIVX staking for years...by which time the miniscule return on their 'investment' will have long been eaten up by inflation. And if you venture to continure your inquiries along these lines you will be banished from the forum so that you don't 'infect' the eager-eyed cryptocurrency neophytes lining up to buy into the 'dream' of being on the cutting edge ( guess who ends up bleeding ) of the 'bright future of financial privacy' that is promised.
Meanwhile, at the same time as they are promoting the 'privacy' of PIVX transactions, the PIVX OverLords are 'partnering' with government agencies whose whole reason for existence is to keep eWe the Sheeple from 'slipping under the radar' of the all-seeing government eye...the one on the dollar bill?The PIVX OverLords have even launched a HomeLand Forensics cabal that seems designed to place a 'protective umbrella' over those who wish to engage in cryptocurrency investment as a business. An 'umbrella' that will herd users into a database where all of their secrets will be stored in one, easily accessible place. Accessible to who? Or is that whom? Or is that WHomeLand Gestapo?
Multi-Level Marketing has gone digital, and all of those 'pushing' their version of the cryptocurrency market are smiling for the same reason as all of those 'smiling' people at the meatspace MLM promotional meeting. They are smiling because they are figuring on making a lot of money.
The current state of crypto currency is that money is to be made in the selling...not in the buying. CryptoCurrency ATM's are the big thing. They are being promoted to businesses as an investment in 'the future of currency'... An associate tested them in Austin over the weekend. All of them sell BTC... Once she tracked one down that 'bought' BTC by her making a 'withdrawal', she received a 'transaction rate' of $ 1,540 at a time when BTC was close to $ 1,800. And there was a transaction fee, as well...Try finding that fact in the 'bubbly' online literature surrounding the 'burgeoning' CryptoATM industry. Oh, and much to her surprise, as well as that of the business owners who had invested in the ATM, there was only $ 20 available for withdrawal. ( But you could buy a $MILLION$. )
After being BANNED from the Slack PIVX forum for asking 'uncomfortable' questions about the system, I referred a friend to the forum...one who happened to be one of the original developers of cryptocurrency. His account was disable after asking even fewer questions than I did. Bernie Madoff got asked a lot of questions after everything fell apart...by people who invested their money without asking, and getting answers to, those questions before they invested their money.
So, if you consider yourself a good 'player' and believe you can slip in between the cracks and get in and out of the PIVX 'staking game' and come out ahead, put a few grand into it and grab some of the runoff from the LittlePeople who are putting their hard-earned money into the scheme with the 'promise' that there is a 'chance' they will get a return on it a few years down the road. If you're one of the LittlePeople, buy a few PIVX to 'stake' in your wallet and let me know, in three or four years, if your returns will buy you a loaf of bread at current prices.
What questions did you ask?
I was asking simple questions about the value/results of staking a small amount of PIVX as opposed to the investment of thousands right off the bat.
Instead of getting answers to the questions I asked, I got the "PIVX is wonderful" catch-phrases and accusations of being a 'trouble maker' when I asked more specific questions about the information I was looking for.
When I did get something resembling a real answer to my questions, it was couched in 'comparisons' to an extremely low-interest savings account, which seemed to designed to mask the fact that it was being compared to an 'investment' which loses you purchasing power.
Even when someone finally pointed out that a small investor could expect to wait four years or more for any kind of return, it wasn't mentioned that even this was in no way guaranteed, but was merely a 'possibility' that, even then, was based on nothing changing in the future.
Thanks. I was advocating that more people should win smaller awards every block to ensure small players get something. The probability angle makes it a mix betweeen a slot machine (with odds in your favor) and an interest bearing account. Still until the coin volatility is much lower the interest angle is a novelty. That why steem dollars could be so powerful if used correctly. Stable plus interest. I think the pivx community increased 1000x overnight and they are still trying to get organized. They seem like a good crew though.
Yes, crypto currency is still closer to 'gambling' than to 'investment' so there is more emotional energy involved in those who are genuinely promoting it as a long-term investment. Especially when those who are in the early waves of a developing idea/technology tend to be young and lie in the range between activists and true believers. They tend to get upset that someone who has already been through the 'cult' phases in their youth question the 'rose colored glasses' narrative in any manner.
I was quite specific in mentioning that I had, in fact, chosen PIVX as a good long-term investment to stabilize a portfolio as cryptocurrency transitions away from the 'gambling' to a true 'investment,' yet I still got a lot of flak for asking the kind of questions that you should be asking before you dive into something.
Of course, when social forums are run by volunteers/activists rather than by pad staff, it is inevitable that you will end up having to deal with some of the problems that arrive when youth and inexperience are being fueled by hormones. Hard to bitch too much when you're not paying someone to cater to your needs. Unless you're an old grouch...
You should tag it cryptocurrency to get more reads.
Thanks. I tend to forget that if I really think I have something worth saying I should make an effort to get it read more. I added 'cryptocurrency' to the tags, and couldn't resist the urge to add 'sex' as well...maybe it will go viral.
Thanks for sharing. I am quite new to all that crypto stuff. I also think that it is closer to gambling than investing. But on the other hand makes it so interesting.
What do you think than about Steemit, is it a 'feel-good scheme' as well? At least for the small fishes.
Steemit actually has a plan and a purpose. Some CryptoCurrencies are like the PlayBoy centerfolds who like cute puppies and are getting naked 'to promote world peace.' They're fun to play with, but they can end up costing you a lot of cash, in the long run.
Thanks for that. Hope steemit becomes a more equal platform.
Good points in this article. Same thoughts here. I'm worried about the amount of scams out there. But on the contrary there's quite some jewel cryptos as well. Besides coinmarketcap.com there is: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. For example: https://www.coincheckup.com/coins/PIVX#analysis To watch PIVX Investment research report.