Cripto Currency
There is no doubt that many people who were lulled into purchasing cripto currency in the early stages made a lot of money at the time.
Cripto was dangled before the eyes of gullible would be speculators. They looked at the “pile of gold” that people were buying and the vast profits that were being made by many.
They couldn’t wait to get their hands on the booty that they had been promised would magically appear in their bank accounts, so they cashed in their life savings or sold properties or other assets, in order to invest in Cripto.
What they didn’t realise, was that Cripto Currency, unlike property or shares or government bonds is highly volatile, and that investors who did really well out of crypto spent years investigating the phenomenon, to learn about the technical side of trading in crypto-based assets, and that the real long term source of wealth that arose out of crypto was the fees that experienced traders earned by taking advantage of the highs and lows of these very risky investments.
There was and still is a very real risk that, due to fluctuating market conditions, or even political changes, investors, who had bought cripto were unfortunate enough to find their crypto currency at the bottom of a downturn; at a time when they happened to be in need of cash, for personal or health reasons.
They then lost large amounts of money, when they were forced to sell at the bottom of a cycle and did not have the wherewithal to hang onto their crypto investment; perhaps on the advice of their financial adviser, until the value of crypto currency started to move up again.
Financial advisers make money in both upward and downward phases because the value they reap from financial services lies in service fees or commission, so they never lose.
The reason why banks are always wealthy is because they invest mostly in property; and in the long-term, the value of property never goes down because it is a tangible asset that gets its value from the scarcity or uniqueness of the asset or from its potential to earn rental income from properties.
Likewise, in the long term, rentals always go up in value, because the supply of properties; particularly in coastal and brecreational areas reduces over time.
Ai as a Profit generator
When it comes to AI, a similar principle applies. YouTube shows that there are hundreds of people who have YouTube channels who have mastered the art of convincing gullible people who view their channels that if they follow certain guidelines, they will make millions of US dollars in a very short time and IT’S ALL FREE!
Rubbish! The faces you see are extremely convincing in putting across their unique point of view that their method is a surefire way to become a millionare overnight. The people who run these video platforms have spent years perfecting their art. In truth, they are operating a very smart ponzi scheme.
The way it works is …
Somewhere, Lo and Behold, towards the end of their marketing pitch; including the fact that – It’s a one time offer that’s only available for a certain time … Bla, Bla, Bla … there lurks a simple little line that says that all you have to do to get onto this Huge Gravy Train is to pay a small administration fee, and you will receive all the incredible benefits … more Bla, Bla, Bla . Need I say more?
Just like with Cripto, – the real money is made by owners of YouTube channels who charge you an administration or subscription fee that multiplied by thousands of subscribers gives them an income of thousands or even millions of dollars.
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