STEPN

[Loco1887]

Do you think it is a good investment or rather a ponzi like scam?

[YellowSwap]

Far from Ponzi or scam, you are free to invest because this is just the best one out of the rest, every new Stepn wannabe projects are just here to catch the hype and cruise along, the only but that's here is avoid buying at a very high price, I believe that this project will still bring a massive correction soon.

[naira]

What and talking about the Move to Earn Token which is quite booming lately because the article if you want to buy shoes around 10-15 SOL then run every 11 minutes to get a prize?

You need to know 2 things, what is a scam and what is Ponzi. If you think both are the same then a google search can help and get the definition.

We are talking about a project collaborating with a shoe factory where runner data cannot be manipulated. This means that you have to walk or rent shoes to other people to earn a daily income. The STEPN token really has a lot of initiatives where most of the other tokens are aggressive towards P2E and their Metaverse actually collaborates with the real world. Where you will get the output when run. Besides being healthy, you can also earn money.

[S3300]

Step'N do have a great team but the project looks like a short term grab to me, make profits and sell, not the type of token I will like to hold for a very long term, if you are looking to buy id say you should hold your horses, dips will happen but short term or long term holding that's your decision to make.

[Loco1887]

https://www.btc-echo.de/news/ist-stepn-wirklich-so-gut-wie-viele-glauben-140326/


Author of this this article bought shoes for around 1000 and made some money by using them before selling them. He says there will be problem when not enough people are joining after the Hype. He mentioned the term ponzi

[Mosharafhh]

Yah i think its a hype now you can invest on them for a little money which you can afford but every time i am saying dont invest anything which you can efford to loose!! There is always risk on crypto investment and try to analyses any trading pair first!!

[Pterosaur]

The idea of buying shoes with a high amount of money makes me feel like its a Ponzi, this is just like buying Hashing power through cloud mining back in those days of genesis mining, this is Ponzi and sooner or later the token will start performing worse, buy, make profit and sell.

[Jackl87]

Do you think it is a good investment or rather a ponzi like scam?

I have seen quite a lot of new threads about STEPN coming up in the last few days here in this forum. This definitely proves that STEPN and the fitness token trend that it started are probably the biggest topic at the moment in the crypto space. I am not to familiar myself with STEPN but i think it is safe to say that it is definitely a legit project and not a scam or a ponzi scheme. That doesn't mean though that i would buy STEPN now because i avoid buying tokens that made huge gains very recently and if you are looking at the chart of STEPN then it is obvious that early investors already made a x30 on their investment.

[zasad@]

Do you think it is a good investment or rather a ponzi like scam?

A month ago there was a big problem with registration, because there were not enough invitation codes for everyone and the codes were selling from 25 to 100 dollars. Now invitation codes are distributed to everyone in telegram groups. For me, this is an indicator not to participate. The project already has many clones, and an outflow of participants is waiting for it.

[jossiel]

It's unlikely a scam.

What made you think of it is probably because of the quick pump of its price. It's one of the coins that have launched recently and got the attention and all thanks to Binance.

If you plan to buy it right now, you shouldn't because it's currently at the peak of it.

[lionheart78]

https://www.btc-echo.de/news/ist-stepn-wirklich-so-gut-wie-viele-glauben-140326/
Author of this this article bought shoes for around 1000 and made some money by using them before selling them. He says there will be problem when not enough people are joining after the Hype. He mentioned the term ponzi

Definitely, anything that relies solely on the newcomer without any real-life utility on it maybe categorized into a Ponzi Scheme.

I dont know if it good to enter now, because a lot of people enter in much deeper price, but project with future - for sure!

If you are not thinking of investing with your money, I think it is good to enter taking advantage of their free entry.

It's unlikely a scam.

But if it looks like a Ponzi scheme[1], it is considered a fraud[2], and any form of fraud is an act of scam.

FRAUD AND SCAMS. Fraud is an act, expression, omission or concealment that deceives another to the fraudster's advantage while scams are fraudulent business schemes to mislead/swindle/victimize a person or persons with the goal of financial gain.

What made you think of it is probably because of the quick pump of its price. It's one of the coins that have launched recently and got the attention and all thanks to Binance.

Fraud Key Takeaways

    Fraud involves deceit with the intention to illegally or unethically gain at the expense of another.
    In finance, fraud can take on many forms including making false insurance claims, cooking the books, pump & dump schemes, and identity theft leading to unauthorized purchases.
    Fraud costs the economy billions of dollars each and every year, and those who are caught are subject to fines and jail time.

If you plan to buy it right now, you shouldn't because it's currently at the peak of it.

Or avoid it altogether.


[1] https://en.wikipedia.org/wiki/Ponzi_scheme
[2] https://www.investopedia.com/terms/f/fraud.asp

[Psynthax]

Even when this was using pyramid as its scheme but it's still too far from being a scam project. Stepn has real usefulness and the tokenomic was totally make sense compared with another play to earn game like axie infinity or something else. I prefer to take GMT as the best play to earn rather than axie infinity. The token can sustain for long term as the task that used by this gem was taking the daily life activity.
it seems like that people are also aware about this and so many people able to earn for free through this mechanism unlike those paid to earn like axie

[Smack That Ace]

STEPN is a new trend in the market and it was initiated by binance so it is legit. I don't know how long the move to earn trend will last, but personally I find it very useful and has practical applications, players are both healthy and can earn rewards.

That doesn't mean though that i would buy STEPN now because i avoid buying tokens that made huge gains very recently and if you are looking at the chart of STEPN then it is obvious that early investors already made a x30 on their investment.

It's not x30 but STEPN has increased x300 from the IEO price on Binance. STEPN has been extremely profitable for holders since the beginning, so if the OP or anyone wants to buy it now it's not a good idea.

[Lagduf]

it is a good project considering its concept and also the fact that it brings new innovation in regard of mining by moving and the uses of GPS also kinda proves that it’s just not some trickery.
regardless I think this project seems kinda overvalued already I mean you could get maybe lower prices for investment if you just wait it out I’m sure although i’m still thinking that the price for this altcoin
could still reach another height of ATH in the future, as many people here have said there are already so many clones created but still STEPN is the ones that gonna seizes the glory if it keeps on getting more and more attention since it’s the original.

[JeffBrad12]

It's a good investment for now. Calling it as a ponzi while so many people are using it. Any scheme in the crypto can correlate with the pyramid scheme but as long as we can do that the scheme that used a proper mechanism and it will become like what stepn does. There's no reason to call it as a ponzi or scam. the fact that so many people able to earn that for free. I think that you are feel too skeptical about this.
So many play to earn were ponzi but the question is whether it can sustain for long term or not. The play to earn model must have a proper tokenomic to make it happen.

[Loco1887]

and dont you see many problems for STEPN in future when the hype gets less and less new people are joining to buy shoes?

[makishart]

and dont you see many problems for STEPN in future when the hype gets less and less new people are joining to buy shoes?

So the team must have prepared a solution for that. When shoes being used also to burn GMT and GST. that may be a big problem when less demand mean if users will be creating a very high inflation. In this case the same problem that already faced by axie and more features or development must happen.

I know someday any users will have reached their peak stats for their shoes. This means if they will not be interested to increase the rank for their shoes.

[5W-KILO]

Any ideas why it’s down 16% in a matter of minutes?

BTC isn't looking good right now and if this continues altcoins like Step'N will lose more value, its the way things works in crypto, if you aren't ready to hold alt for long term do not buy anything for now, wait and wait for possible dips before buying.

[cheezcarls]

I just regretted that I didn't get in early and now the floor price is much more expensive than I thought. It's something that I cannot afford anymore. If only I wasn't hacked last time, I could have afford to buy at least one sneaker regardless of the price movement of the market right now.

I did created an account and asked for an activation code, but it's just that these sneakers are expensive and I wish I could try them since I walked a lot everyday.

[jossiel]

It's unlikely a scam.

But if it looks like a Ponzi scheme[1], it is considered a fraud[2], and any form of fraud is an act of scam.

FRAUD AND SCAMS. Fraud is an act, expression, omission or concealment that deceives another to the fraudster's advantage while scams are fraudulent business schemes to mislead/swindle/victimize a person or persons with the goal of financial gain.

I'm not into stepn(gmt) and never bought any of it. But I've seen the quick moving up of it and as you've said, it's true and I'm not against that ponzi's are fraud.

But you've said that it's just 'looks' like one.

What can you see that it's look like a ponzi scheme? I'm interested to know more about it.

It's also dropping right now just how correlated altcoins are with bitcoin.