Why dont we just make a crypto hedge fund or something like that?
we can take money from normies and promise 2x returns, take their money and buy up shitcoin, pump and dump. make a killing and give normies enough returns to keep em coming?
hedge funds are supposed to invest in volatile short-term high-risk stuff right?
Where am i wrong in this? or are the whales already doing this? pumping and dumping with other peoples money?
i`ve unironically had the same idea. I would also make it 100% legit with a real business structure, website, books,... would use normie bait as: double your money with bitcoin and stuff like that.
because it would end up being the worst performing piece of shit hedge fund in the history of hedge funds. Would get a "buy high sell low" award from risk.net. Thats why, you fucking retard.
disagree. Sure, it's high risk but considering the hype train you can make good bucks on a crypto hedge fund imo. Lots of ppl will get in, regardless of the risk. Multiple official instances have already warned normies for btc, with no effect on the price or hype.
I actually spoke to 2 law firms about this idea, as I worked as a financial planner for 5 years (was gay af). Anyway, basically you need to get sponsored by someone massive or be looking at 100k-200k in legal fees at minimum to start a true hedge fund, annual audits/legal fees/ trust accounts are in the 100k range
I actually just spoke with an attorney in Singapore about this: $50k for the first year to get set up (but you also get to avoid taxes) so you need to have a minimum tax bill of $50k to justify the cost of the fund.
I think there's more money in creating a normie accessible crypto news/advise media organisation (aka the crypto wall street journal, crypto business channel).
Create a twitter/facebook. Then create some normie friendly content (what is crypto blah blah blah). Buy a ton of fake followers, likes, shares, etc...
Once the normies are following enmasse you get advertising revenue and you can easily pump and dump coins that you run an article recommending.
Only 100k-200k legal fees doesn’t seem that bad TBQH
that seems pretty doable to me.
Its called ICONOMI, with the token ICN which they basically used to fund their hedgefund, but it has no inherent value. The value of the token has atleast crashed 90 percent and is my first ever cryptobag. Always buy tokens with value people. I still have them as a reminder to never do it again.