MMM

shadowmaking

MMM i'm cash heavy ready for this surge AKA overvaluation to drop like a rock when the SEC decides to not allow billions to flow into BTC. Then im gobbling up my alts for the next year.

Smiling_Jack_

MMM yes, that's the good stuff. 

drathvedro

Bad example, but historically, some people did use [MMM](https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)) tickets for payments and exchange. According to apologists, this was the founder's plan from beginning - to lure people with high returns, bank-run the central bank, triggering a default, and fulfilling his promises of high returns by driving national currency value to the ground, effectively causing his ponzi tokens to become a de-facto national currency.

patanak

it is nothing new. very organized scam by Unifi, this type of scam is also very common among MMM operators.

IntermittentFasted

it’s absolutely true. Have you seen what happens to the prices of coins when listen on Kucoin ? For ex. i’ve seen continues absolute shit coins wick from say $0.02-$11 within the FIRST minute of trading. Kucoin has been a huge success for many small start ups/projects, multiplying their market cap in literally minutes, much more over the course of days/weeks. Look at MMM for example , a recent coin highly anticipated by many. A legitimate project with many holders. After listing on Kucoin spot (no margin) it ran up as high as 1,500% the first day. A large majority of these people buying these coins chose Kucoin for its NON KYC option. Some may be able to verify which is great. there’s many benefits that come along with that. But they aren’t licensed in the US , so in the short term at the least this will definitely have an impact on price action. you can’t just turn off the buy button for US Customers on a major Exchange (many using margin) and not expect prices to fall. Hopefully i’m wrong. BTC & ETH i don’t think will have much of an effect if at all however, but some alts will definitely take a hit.

Randux

Go introduced to crypto through a pyramid scheme. Forever grateful to MMM.

_scampy

Back in 2017 when Bitcoin had the famous bullrun to $20k, I was deliberating on whether or not to dip my toe into the market. During this time, MMM's "Why Bitcoin Is Stupid" article popped into my feed. It seemed convincing and echoed the same points that most mainstream media coverage was making, and so I wrote off Bitcoin as a scam. I didn't pay attention to it again until early-2020. That's entirely my mistake, of course. I was lazy and did like 15 minutes of "research". But it's funny to think that if I had not followed Pete's advice, I might have retired earlier than he did.

KnewAllTheWords

Yea MMM has been and always will be deeply anti-crypto. I know him well and at this point it's simply out of stubbornness... Weird because he's a tech dude. He buys the carbon-footprint argument. Anything, really, to discredit. I think he pretty much single-handedly keeps FIRE out of crypto

Msg_me_ur_boobz

Yeah.. though with FIRE there are a lot of paths. Lots of huge support for things like real estate, entrepreneurs, etc. Not everyone thinks like a bogle head. One odd thing Is that FIRE was quick to ditch the old finance world and dive deep into fintech. In 2013, MMM got the fire crowd into lendingclub, prosper, fundrise, Kickstarter. It was really risky, e.g. Kickstarter was and still is a scam. Why would a community so quick to buck conventional norms around retirement and eager to try risky plays be condescending towards Bitcoin? Beats me.