Perception


  • Banned



  • @MrWh1te you know what, that wasn't a bad article, bit confused as to why you think that would annoy or rub people up the wrong way here (comment you made on slack the other day). One thing i liked is it didn't feel like a FI vs FS article. You may or may not agree but I'd of wrote the article after order books are in and we can see the "final product". You mentioned risk and I think the "perception" of risk should only be judged once we know how everything will look, i think too many people are judging the platform on its current state of play (albeit i think new traders could easily be put off by current platform) - all in all its wasn't a bad artcile. Traders have had to be parient here and hopefully we will be rewarded long term for the patience.



  • @MrWh1te

    A GoOd read that - food for thought



  • Yeah it's a good read. The people who deny any similarity between this and a Ponzi scheme are fooling themselves!

    That, of course, is a pure scam, but the people who got in first are making the most money and the profits will stop when the new players stop coming in.

    Of course, there are a lot of people who invest every month, so that new money isn't just about new players but if the prices stagnate for a reasonable period of time I think we'll see some big problems.

    However, I think we are some time away from that. FI is growing, advertising heavily and adapting. I think there's plenty of money to be made for a few years yet!



  • @Mere.Mortal said in Perception:

    Yeah it's a good read. The people who deny any similarity between this and a Ponzi scheme are fooling themselves!

    Depends which players you buy really. People who joined in 2017 couldnt buy a player IPO’d in 2019. The only time i can honestly say i saw anything resembling a Ponzi was when we had the pump and dumps of worthless cheap tat that instilled FOMO on inexperienced traders.

    Dividends, IPO’s, media limelight, players form and young starlets being discovered are all things that mean this is nothing like a Ponzi

    The reason Ponzis succeed in fooling people is because they are dressed up to look respectable so i can understand why people get confused and draw comparisons but its the fine details that make the difference


  • Banned

    @Shippers
    Thank you. I tried to write it so that it could be be matched to any betting site, not just FI or FS.
    I think, it doesn't matter on whether the OB is finished or not, because it isn't about the OB but about the things we say. I feel those things are said across multiple platforms and are all the same things, regardless of their stage.

    @Black-Wolf Yes that is my point. If I had been told the same thing when I joined, and an explanation followed, I would have joined earlier. I still hear on a daily basis people refusing to join because it is a ponzi.
    It is about educating, rather than denying.



  • @MrWh1te yes i got that your article was a good read but i am denying it whilst educating. People need to be aware that a Ponzi can be compared to anything that is bought at one price and sold for a higher price. We could call the whole retail sector a Ponzi based on the same logic but obviously its not because we accept and understand It.

    What im getting at is that you can call anything a Ponzi as an attack on a product but only a Ponzi can be a Ponzi. FI isnt one, the stockmarket isnt one and retail isnt one because they all serve a purpose beyond just making first in rich



  • @Black-Wolf retail you buy a tangible product.

    Fi is more ponzi like because [insert grey area] you only likely to make money by selling your bet on to another customer.

    Its not a ponzi because its not FIs fault [insert IS comms caveat] that the user base are willing to pay more for the bets than the potential winnings on offer in most cases.



  • @MrWh1te said in Perception:

    @Shippers
    Thank you. I tried to write it so that it could be be matched to any betting site, not just FI or FS.
    I think, it doesn't matter on whether the OB is finished or not, because it isn't about the OB but about the things we say. I feel those things are said across multiple platforms and are all the same things, regardless of their stage.

    @Black-Wolf Yes that is my point. If I had been told the same thing when I joined, and an explanation followed, I would have joined earlier. I still hear on a daily basis people refusing to join because it is a ponzi.
    It is about educating, rather than denying.

    I only mention about waiting because the risk perception could change dependent on how it looks or anything they bring in (insurance or IS of some on specific players, maybe users could use cash out like 4 x a year or something back to FI, that idea just popped into my head as typing 😅) appreciate it maybe just PvP and then of course it is correct. By the way, my only grumble..... dont say you're not going to use maths then use it in the same paragraph pretty much 😅😉.


  • Banned

    @Shippers
    LMAO yes I do have a habit of that :p



  • People ignoring the existence of FI dividends is frustrating. That is the simple but significant difference between FI and a ponzi scheme. It shouldn't be so hard to grasp, but apparently it is.

    FI can't be 37.8343% ponzi scheme. It either is or it isn't. And, spoilers, it isn't.



  • @Coriolanus said in Perception:

    @Black-Wolf retail you buy a tangible product.

    Fi is more ponzi like because [insert grey area] you only likely to make money by selling your bet on to another customer.

    As someone who works in retail the comparison is not a bad one. It could quite easily be compared to a ponzi scheme.

    Take for instance a carrot. Farmer Giles rips it out of the ground and decides on a fair price to advertise for sale it to the wholesaler (in the fruit and veg world price is very volatile). The wholesaler looks at the state of that carrot and makes a decision on whether they can sell that carrot onto a retailer before it expires. Once the wholesaler has the carrot someone like me comes along and takes a look at that carrot and weighs up the likelihood of being able to sell it on to a consumer before it expires. If i buy that carrot and it goes mouldy before I sell it then only the farmer and the wholesaler have won. If I sell it for more than I paid for it then the the chain has been efficient, but it is essentially a ponzi scheme nonetheless.

    This morning I threw out 3 jars of Dolmio pasta sauce. Farmer Giles has sold those tomatoes on to a manufacturer in this instance. They have taken the bet that they will be able to sell their product on to a wholesaler or a retailer for more than it has cost them to produce. The wholesaler took the gamble on when they bought the product. When I bought it from the wholesalers it had more than a year on it's sell by date, so it seemed a pretty safe bet to me. I was wrong 😂



  • @MrWh1te

    enjoyed reading this



  • @Baydog said in Perception:

    When I bought it from the wholesalers it had more than a year on it's sell by date, so it seemed a pretty safe bet to me. I was wrong 😂

    Were you rotating your stock and keeping the oldest at the front of the shelf?

    I know my oldest shares and will start drip selling if I have them near to the end of their 3 year shelf life.

    I love your analogy though!


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