A lot of people are arguing that:
*”Cryptocurrency is a Ponzi scheme because really money does not need the kind of FOMO-inducing commercials we witnessed at the Super Bowl – Sign up now, Buy now, You will be left out, etc.”*
My question to these people is – is there a bigger and stronger advertisement for any money than the endorsement and backing of a central government?
Seen through that lens, many currencies and asset classes might seem like Ponzi schemes. I do agree, though, that this Super Bowl had an unprecedented level of Crypto-mania.
19 thoughts on “Why does Crypto need so much promotion?”
I meannn…. Something amazing can exist, but it wouldn’t matter if you don’t get the word out there.
But those are exchanges advertising so they can suck up fees, not the cryptos themselves.
>Sign up now, Buy now, You will be left out, etc.
Isn’t that literally every other commercial, especially on digital services and products?
That’s hypocrisy at its finest. The amount of advertisement banks do is unreal as well. But do you need ads to hold your money ? Or buy ETFs for you? I don’t think so
Well the ads weren’t for crypto, they were exchanges.
OP will be the one buying Bitcoin at the top soon then shout ponzi when whales sell
I view it a bit like the internet boom, a lot of protocols are trying to grab funding and customers.
However a bit like the internet boom, they are selling the wrong products. Almost all cryptos are now being sold as investment opportinities, thats not what crypto is.
Crypto solves a problem, it means people can transact without trusting each other or anyone else, this is what should be sold.
“Remember 2008 when you lost your ass in the global financial crisis? Remember the banks and governments that fucked you over? Remember how after they fucked you over, you paid to bail them out with your taxes while you endured a decade of austerity?
Never again; crypto-currency.”
Why did the wheel need promotion?
I think most of this market is propped up by hype alone, and people buying at ATHs and consoling themselves by saying that the market will eventually recover.
Some crypto projects might have value as a tech, but honestly, 40K USD per coin for an outdated payment system makes me lean towards this entire market being a quasi-ponzi scheme.
The big boys are spending money on advertising because they want the customers they think will get into crypto anyway.
Because it’s in early phase.
Crypto hasn’t been adopted anywhere to the same scale as fiat. And before you say el salvador fiat is still in place there.
Ultimately the size of crypto is tiny to all the fiat in the world. Everyone understands basically what the $/£/€ is. Most people don’t understand what crypto is.That’s why there are adverts.
The argument that there’s adverts so its a scam is so dumb. Dishwashers,Coke, holidays and cheesecake are a scam too then I guess
Because of the volatility, plenty think it’s a bubble, so that’s why
Everything needs marketing. Still remember when they where promoting consoles and games. Same happened with Internet and computers.
Those old ads are hilarious. You should check them OP.
Drugs don’t need advertising they sell themselves but I still see billboards for weed dispensaries.
when you see crypto shills on sport events you know you took the time machine to1999
because there are no mass market apps or real utility in crypto yet for most people. not a bad thing. it just hasn’t happened yet. imagine asking people to invest in the original internet protocol. they would have been like wtf. it’s just really early still imo and where it goes is up to us
Then everything would be a ponzi scheme… Definitely in the US, where advertising/marketing is literally the main aspect. People buying brand clothing, all marketing, just to name a thing. Elections, Ponzi scheme (ok that one is not far off though), a good candidate does not really need to appear on any public campaign to get elected!? Vote vote vote, it is important for democracy, does not really need to be broadcasted if it was truly so!?
Even if you have the most solid thing (idea, object, whatever), if the word is not spread far and wide it will never be adopted by the masses. A good thing will survive regardless (mostly) but the point is increased adoption and that is something that requires a marketing push.
You would get a lot out of watching this specific interview of Michael Saylor. It’s a good intro. https://m.youtube.com/watch?v=wdJFeSY8UVk. If you don’t care for Tucker Carlson, don’t worry, he says like 20 words the whole time.
Edit: I always forget how much shitcoiners hate “Everything else is a Security” Saylor😂😂😂