The smart monkeys got in on the action and are now living large...
The real smart ones started their own cryptocurrency exchanges using the money from Mom & Dad...
It does take a lot of time to count up all the Monkey Bucks, though...
Posted on 12/08/2022 11:00:20 AM PST by sodpoodle
I haven't invested in crypto currency because I don't understand how it works. Now after reading this I understand.
How Crypto Currency works... an analogy in Layman's terms.
Not long ago a merchant found a lot of monkeys that lived near a certain Village. One day he came to the Village saying he wanted to buy these monkeys!
He announced that he would buy the monkeys at $100 each. The villagers thought that this man must be crazy - How can somebody buy stray monkeys at $100 each? Still some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey. This news spread like wildfire and people caught monkeys and sold them to the merchant.
After a few days, the merchant announced that he will buy monkeys at $200 each. The lazy villagers also ran around to catch the remaining monkeys! They sold the remaining monkeys at $200 each.
The merchant then announced that he will buy monkeys for $500 each! The villagers start to lose sleep!.....They caught six or seven monkeys, which was all that was left and got $500 each.
The villagers were waiting anxiously for the next announcement. Then the merchant announced that he is going on Holiday for a week, but when he returns, he will buy monkeys at $1,000 each! He also said that his employee will be in charge, and would take care of the monkeys he bought pending his return. The Merchant went on holiday!
The Villagers were frantic and very sad as there were no more monkeys left for them to sell it at $1000 each as was promised by the Merchant. Then the Merchant's Employee contacted them and told them that he would secretly sell them some monkeys at $700 each. The news spread like wildfire. As the Merchant promised on his return that he would buy monkeys at $1000 each, they would achieve a $300 profit for each monkey.
The next day The Villagers queued up near the Monkey Cage. The Employee sold all the monkeys at $700 each. The Rich bought monkeys in large lots The poor borrowed money from money lenders and bought the rest of the monkeys!
The Villagers took care of their monkeys & waited for the Merchant to return! However nobody came ! ..... Then they ran to Find the Employee....However he was not to be found!
The Villagers then realized that they have been duped buying the useless Stray monkeys at $700 each, and were now unable to sell them!
This Monkey Business is now known as Bitcoin!
LOL @ Monkey Business
The smart monkeys got in on the action and are now living large...
The real smart ones started their own cryptocurrency exchanges using the money from Mom & Dad...
It does take a lot of time to count up all the Monkey Bucks, though...
You are in so much trouble :)
1 You buy virtual money with your real money.
2 You put it in your virtual bank account.
3 You buy virtual food, cars, etc, with a virtual credit card
4 You end up starving and walking.
Not really how Bitcoin works. Probably better for describing an exchange like FTX, rather than Bitcoin.
https://chatfieldprivateclient.com/story-bitcoin-monkeys/
Not my circus. Not my monkeys. .............
I think the monkeys were in on the scam.
Entire industries are based upon artificial scarcity and controlled distribution. In fact, I would posit that the majority of most of the economy could crash if it were truly a free market without anyone being permitted to control who can buy, sell, or trade anything.
Market speculation is nothing more than a virtual version of mercantilism, based upon back in the day when traders and merchants needed to raise capital in order to build or use ships to transport goods that were in demand. Now it’s just sim-bank.
You still don’t understand. But if you’re amused with yourself, I suppose the thrill was cheap enough, even for you.
It’s amazing how people are fooled by a name. “Crypto” tells me nothing and it’s not currency. So what is it?
A gigantic illusion.
It doesn’t.
Momma called the doctor and the doctor said...
I gonna be taken in! I put my retirement money into tulip bulbs!
After the collapse of FTX, here is my analysis:
1. You buy virtual money with your real money.
2. The crypto company uses your real money to help Democrats steal the elections.
3. At the same time the crypto company uses your newly-created crypto currency to finish stealing the election.
4. Your money as well as the crypto you bought are now gone and the Democrats rule the country.
5. End of story.
What makes it even worse is the leveraging of “debt” from other cryptos, like Tether, to buy “bitcoins” at ridiculous high prices.
In this case, the villagers still had monkeys. You can eat a monkey, or train it to pick coconuts. Even the tulip craze, you still had tulips. But the FTX scam shows just what is the end result of all this crypto “investing.” There is nothing there but one fool greater than the other and the guys at the top who know how to play the fools like an orchestra.
Once the major investment banks started in on bitcoins I knew it was nothing I wanted to be a part of.
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