RE: Big Announcement, please read
Posted 1 year ago
Posted 1 year ago
How exactly is this a ponzi scheme or a scam? If people want to pay ridiculous amounts of money for a collectible then that is their prerogative. Didn't you ever play any kind of trading card game as a kid? Most people bought the cards just to have them, and not as an investment looking to make more money. Sure there are some guys out there like Rudy from Alpha Investments who actually heavily invest into vintage MTG cards for the intent on making a profit, but for the most part people bought those cards because they wanted to collect them or use them to play the game and didn't care about the resale value. If people were trying to use this app as an investment vehicle thinking they just buy the card and someone will buy it back from them then they are idiots who deserve to lose their money. It was clearly not meant as an investment opportunity and there should have been painfully obvious that there was no guarantee that you would be able to resell your card after you bought it. Why does everything in crypto need to be viewed as an investment? Why can't you just buy something stupid as a joke so you can meme on the internet? By your logic almost every product manufactured on earth is a ponzi scheme. They take $10 in raw materials and make a product that they expect to sell for $100. Car dealerships are ponzi schemes. They sell you a car worth $50,000 that immediately depreciates in value... then they buy it back from you used for $10,000 and resell it for $22,000. Art is a ponzi scheme. They take a few dollars worth of pain and canvas and try to scam you for thousands or even millions of dollars. All food is a ponzi scheme. You pay $100 for a steak at a nice steakhouse and it literally turns to sh*t. The crucial point missing is that all of these things have value outside of the monetary cost of it. The extra value can be in the form of enjoyment, utility, sentiment, or whatever else. People just want to have fun and who are you to tell them otherwise. Also unless you have proof that the people behind Allstars were going to shut down the site and exit-scam everyone in the future you actually enabled the ponzi scheme to happen by shutting it down yourself. At least if the site was still operational people would have access to the items they purchased, whether you think they have value or not, and by electing to close the app you were the one to take those items away from them. For the record I never had a card on the platform, bought a card on the platform, or received any kind of financial compensation. I am just an outsider observing the events as I see it and giving my opinion. Take it as you will.