يحاولGOLD- Free

A Killing Field Of Dreams
Prestige Singapore|July 2021
A stable and internationally recognised unit of value and exchange or a vehicle for wild speculation? Peter Guy offers his views on bitcoin.
- Peter Guy
A Killing Field Of Dreams

A professional speculator once told me: “It’s really not gambling unless you risk losing your house or selling your organs in Shenzhen.” I hate to spoil an exquisite financial bubble, but it’s growing ever more evident that the cryptocurrency and bitcoin craze is shaping up to be an epic, legendary Ponzi scheme.

Psychologically and financially, you’re either inside a bubble plotting when to cash out or outside guessing when to jump in. Bubbles usually make fools out of those who sell out too early or too late – which is almost everyone. Cryptocurrencies represent a perfectly intersecting storm of desperation, greed and overwrought imaginations, all enabled by sexy trading platforms and mobile technology.

Each successive jump in bitcoin price cruelly tempts punters like a treasure ship that hangs out at the horizon, taunting suitors by neither coming into dock nor receding out of sight. The closer the dream approaches you and the higher the price, the more real it becomes. The key to making a Ponzi work is to exploit the subtle but crucial difference between what the “mark” (victim) wants and what he or she really wants. And the scheme is most potent when those who are being manipulated are confident they’re acting of their own free will.

هذه القصة مأخوذة من طبعة July 2021 من Prestige Singapore.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة July 2021 من Prestige Singapore.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من PRESTIGE SINGAPORE مشاهدة الكل
GLAMOUR AND BEYOND
Prestige Singapore

GLAMOUR AND BEYOND

PRESTIGE'S BEYOND THE HORIZON BALL PULLS OUT ALL THE STOPS.

time-read
2 mins  |
December 2024
SYMPHONY OF THE SENSES
Prestige Singapore

SYMPHONY OF THE SENSES

Prestige sits down with world-class pianist and Rolex Testimonee HÉLÈNE GRIMAUD as she shares her journey through sound and silence.

time-read
3 mins  |
December 2024
FJORDS, FREEDOM AND FINE FOOD
Prestige Singapore

FJORDS, FREEDOM AND FINE FOOD

Oceania Cruises' Riviera will make its debut voyage to Alaska in 2025, bringing guests deep into the wilderness of America's northernmost state while delivering The Finest Cuisine at Sea.

time-read
2 mins  |
December 2024
STILL THE ONE
Prestige Singapore

STILL THE ONE

With a distinctive design including an off-centre dial, outsize date and an asymmetrical layout, the Lange 1 stood out from the horological pack when it was launched in 1994. It continues to do so even today, three decades on.

time-read
2 mins  |
December 2024
IN FINE FORM
Prestige Singapore

IN FINE FORM

As Olympic fever enveloped the haute couture season for Autumn/Winter 24, designers found themselves rethinking the body, and consequently, the silhouettes that have built their brands.

time-read
5 mins  |
December 2024
Make it Glam!
Prestige Singapore

Make it Glam!

As the holiday season approaches, the quest for show-stopping looks takes centre stage. Here, four experts share their insights on how to dazzle at every gathering.

time-read
1 min  |
December 2024
Holiday Glam Kit
Prestige Singapore

Holiday Glam Kit

Whether gifting or treating yourself, these curated advent calendar sets bring holiday magic to life, one day at a time.

time-read
1 min  |
December 2024
IN THE LAP OF LUXURY
Prestige Singapore

IN THE LAP OF LUXURY

However you pamper yourself, Vetreska will match the experience for your fur babies. We talk to founder DONALD KNG about cat wine, pet spas, and the growth of luxe petcare.

time-read
5 mins  |
December 2024
INTO THE SWING
Prestige Singapore

INTO THE SWING

Private bank chairman ALBERT CHIU takes a hands-on approach to supporting golf and jazz talents in Singapore.

time-read
6 mins  |
December 2024
SHOOTING STARS
Prestige Singapore

SHOOTING STARS

For what was meant to be a sabbatical year, multi-hyphenate BENJAMIN KHENG is, ironically, having his busiest year yet. Here, he talks about penning a song for the nation, making new music and choosing to attract and not chase.

time-read
5 mins  |
December 2024

نحن نستخدم ملفات تعريف الارتباط لتقديم خدماتنا وتحسينها. باستخدام موقعنا ، فإنك توافق على ملفات تعريف الارتباط. يتعلم أكثر