The Musings Of An Opinionated Sod [Help Me Grow!]

I say that because some people seemed to believe it until they got to the very last line. Which obviously made me very happy … no doubt helped by the fact April Fools Day started upto 20+ hours before some parts of the World.

But today’s post is real, even though it’s even more of a joke.

It starts with a tweet I saw a few weeks ago …

I don’t mind admitting, I laughed my socks off when I saw it.

Because it’s true.

The amount of people – read, men – who talk about crypto like it’s a guaranteed money earner despite [1] not looking into how it actually works [2] realising there are a vast amount of choices that are out there and [3] all have experienced incredible and – in many cases – huge losses, is amazing.

But I also kind-of get it.

Because the sniff of winning big can be intoxicating.

Especially if you don’t think you otherwise have a chance.

And for many people they don’t …

Not because they’re not smart or talented or capable … but because life is unbelievably unfair.

Which is why for all the questions that need to be answered about the role, legitimacy and even legality of certain crypto, the reality is many people think the chance of making it big on what is essentially a giant wheel of roulette is still better than the chance of doing OK following ‘traditional’ paths.

I get it. I was in that situation.

I was living in Australia, broke … with a seriously ill Dad and a Mum who couldn’t pay the bills.

I didn’t know what I was going to do when someone I knew asked if I wanted to get involved in a pyramid scheme.

Out of desperation – and a belief I didn’t think I had anything to lose – I said yes.

Of course that is mad, because I did have a lot to lose, from the initial ‘investment’ to the chance to get out of my situation within a year.

I ended up being very lucky.

Because I got in very early. I made back many times my initial investment within 2 weeks.

[I should point out that while I was able to help my Mum and Dad out as soon as this happened, I never told them what I’d done. Part of this was because they’d have been fuming and part of it was because it was hard enough to get them to accept presents from me, so if they knew, then I’d never be able to financially help them out again]

And while the time between ‘investing’ and ‘vesting’ were some of the most exciting, intense and scary weeks of my life, the minuscule chance of making something sizeable out of it drowned out the highly likely chance of losing all of it.

Would I do it again?

No. I am in the incredibly fortunate position to be in a good position now. But I get why people would do it and why crypto is so tempting for so many.

Nothing brought this home than some information Natwest Bank sent me last week.

It was their interest rates.

I say ‘interest’ but what I mean is arrogance.

Have a look at this …

What the hell?

Seriously, what the absolute hell?

Do they think this is good?

Do they think this is going to make people want to invest with them?

Even with their ‘bonus’ percentage, their ‘best’ rate is 0.05%.

And that’s their best. The rest are 0.01%.

ZERO POINT ZERO ONE PERCENT.

Not just many times less than inflation.

Not just many times less than the amount you’ll be charged in fees.

But less than fuck all.

Why would anyone choose to invest their money with a bank?

And I mean anyone … from someone with one pound to one million.

Seriously, you somehow manage to get a million quid and Natwest will reward you with 100 pounds in interest.

Hahahahahahahahahahahahahahahahahahahahahahahahaha.

So much for all their talk of ‘caring about your future’.

Of course, they think they can get away with it because they think they hold all the cards.

And right now they probably do.

But for all their advertising claims that are seemingly designed to make the board of directors happy rather than their customers, the vast majority seem to have failed to grasp the one thing that could undermine them all.

People go where the chances are.

Doesn’t matter if it’s not perfect. Doesn’t matter what the research says. If what’s on offer is dramatically better than what the establishment offers – and it’s ‘generally’ legal even if it’s highly risky – then they’ll explore it.

I never imagined I’d be the sort of person who would be part of a pyramid scheme – but circumstances of desperation meant I did. Which means I am pretty sure there’s a hell of a lot of people you’d never imagine would be into crypto, who are.

Not because they’re money hungry assholes – though there’s definitely a bunch who are that – but because with banks taking the piss out of their hopes and dreams with a miserly 0.01% interest rates, suddenly the risk of crypto looks like the most sensible investment for the future they can make.

And then, it’s not just the banks who will be screwed, we all will be.