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08-01-2021, 02:21 PM
21

Re: Speculating on Crypto currency.

Originally Posted by Donkeyman ->
Do you remember the milk culture scam in SA a few years back
Minx ??

Donkeyman! 👎👎
Yes, it was known as the Kubus scheme - the notorious rotten milk pyramid scheme that took South Africa by storm in the early 1980s.

Back in the 1980s, Nieuwoudt raised millions of rands through his "milk culture" project and thousands of South Africans fell for it, furiously buying the mixture of cheese and milk culture from Nieuwoudt, "growing" it in glasses and then drying it into a powder to re-sell to Nieuwoudt and recruiting others to do the same, in a classic pyramid scheme.

At the time Nieuwoudt claimed that he needed vast quantities of the dried powder to develop a skin cream product. However, there never was such a product and investigators found that the milk culture was simply a cover for a pyramid scheme. Tons of dried milk-culture were found rotting in a shed.

He was sentenced to 9 years in jail but only served one year.
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08-01-2021, 03:21 PM
22

Re: Speculating on Crypto currency.

Originally Posted by xirrpy ->
I cant see how an alternative currency can work with out official governement support.
There are big institutions driving the price up and the snot nose early adopters are besides them selves in excitement if not hysteria. ( No sour grapes here squire)

Can you imagine when it was launched and only a penny or two per coin.

I think Id be Samba-ing up and down Oxford street with my blow up doll and platform shoes.
Let alone alternative currency and alternative investments, the latest craze is called Impact Farming and it differs from traditional investing, as you don't invest in companies or stocks - but rather the actual item that is generating the revenue.

There is 3 categories and you can buy the actual item (solar panel, blueberry bush or bee hive) and get returns when harvesting time etc. Each one has different times they pay out and frequency they pay out too.

I’m waiting to see how this impact farming investments pan out.
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08-01-2021, 05:02 PM
23

Re: Speculating on Crypto currency.

Originally Posted by Minx ->
Yes, it was known as the Kubus scheme - the notorious rotten milk pyramid scheme that took South Africa by storm in the early 1980s.
That was here in the uk as well ...or a version.
I was looking over a house to buy, a decrepit old detached slum. The weirdo householder with some hesitancy, explained away the strange mould cultures drying in a cupboard. Not sure if they had the pet crow that kept attacking me in the garden.
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08-01-2021, 05:04 PM
24

Re: Speculating on Crypto currency.

Originally Posted by Minx ->
Let alone alternative currency and alternative investments, the latest craze is called Impact Farming and it differs from traditional investing, as you don't invest in companies or stocks - but rather the actual item that is generating the revenue.

There is 3 categories and you can buy the actual item (solar panel, blueberry bush or bee hive) and get returns when harvesting time etc. Each one has different times they pay out and frequency they pay out too.

I’m waiting to see how this impact farming investments pan out.
Wheres this ..Nigeria?
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08-01-2021, 07:01 PM
25

Re: Speculating on Crypto currency.

Originally Posted by xirrpy ->
Wheres this ..Nigeria?
Oh no, South Africa.

Basically, you buy a beehive or a tree or a solar panel or two...
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08-01-2021, 07:01 PM
26

Re: Speculating on Crypto currency.

Originally Posted by xirrpy ->
That was here in the uk as well ...or a version.
I was looking over a house to buy, a decrepit old detached slum. The weirdo householder with some hesitancy, explained away the strange mould cultures drying in a cupboard. Not sure if they had the pet crow that kept attacking me in the garden.
So, did you buy the property or run!
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08-01-2021, 08:28 PM
27

Re: Speculating on Crypto currency.

Originally Posted by Minx ->
So, did you buy the property or run!
Something better come up- it was all so long ago- a life time-chasing dreams..and then when you get there- [thinks] was it f;ing worth it.
 
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