Crypto currency and NFTS will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% profit from my current investment🤑
@@bilkisumagaji7338 It wont do shit. Probably ever. Not a single country's monetary politics want to be involved in some shady grey/dark economics setup LOL. It will never work due to opinion of the states public (all the inhabitants) and all the executives organs of the state and law. Crypto is just a way to hide edgy suspicious activities and no country will ever adapt it since it directly undermines the currency of the country and supports crime. Bitcoing is banned in China and soon will be banned everywhere. No country wants to deal with unregulated suspicious currency moves.
Thanks for being one of the good guys by providing non-biased and really helpful information. You are correct in saying so many businesses have a ponzi like scheme setup. Especially crypto related businesses. Any ponzi like setup has the potential to fall like a house of cards. But like you said, this is a cool concept that can incentivize people to get out and move.
It basically like the old story but with a catch You give your friend some money and say that you will do some work daily. If you fail to do so your friend can keep that days money. But in this case this is straight up scam If you want to make money then you need to scam some other person. It's basically riding a lion, as lot as you ride you are fine but decided to step down you will be dead
because is a ponzi, price is already collapsing For someone to make profit, rest assured many will loose $ Also this guy got paid easil over 50K$, but he doesn''t disclose it Rest assured 90% of users from this app will end up on a loss when the thing collapses
Disclaimer: As of 25 June, you can only make about USD 2.5 on a level 19 shoe. If you had bought at the time of this youtube video, the shoe would have cost you USD 700, but is now worth only USD 120. Just to be transparent.
These project are amusing to me because it’s always people who get in make a few bucks and yell from the rooftops that it’s not a scam right before the whole thing burns to the ground and they move onto the next smoking project.
Yeah, all crypto games are ponzi schemes currently. But I make money on most of them when I am early enough. That means alpha lr pre-beta. I never join games that are a few months or even older
@@GabrielDiggs you were very lucky, most of us know that the codes of discord dont work, no matter how fast you try, People on twitter are selling codes, others will first request you to retweet their post to give you a code, This code staff was a bad idea, especially for a project that depends on numbers
in Bia’s case, he could run for the thirty days, cash out and break even. Even if the in app currency drops, he would’ve already broke even and still has an NFT he could sell. so technically speaking he’s in profit, assuming the currency doesn’t have a big drop in the next 30 days.
my man is a genius, since by making a video he gets more people on the app, even if he doesn’t recommend it. the attention from this video alone should bring in enough people for him to break even in a month. being an influencer certainly has its perks.
the nft wont be worth anything really when the market falls and people stop earning much money. he only could early 40.00 a day because he was given influencer perks that put him at max level earning. The average person starting out is out 1200.00 and can only earn 20.00 a day max and that's until they earn a bunch of coin and spend it on their bullshit nft app to level up, so they can earn more money. Total scam
This has happened to me multipe times now , generally i was able to double my money but after about a month the NFT value and the token value plummeted and they became worthless.
Yes the economics doesn’t make much sense, this big issue with all of these NFT projects is that money can not be earned without someone else losing money… think about that. Money is not generated out of thin air. It comes from somewhere or someone, therefore there will always be losers. Don’t be that loser.
The tokenomics are actually really dope. The GST coin has in fact a unlimited supply, but what gives the coin value is that when you repair, level up or want to breed another shoe, all the GST tokens that are used to do these transactions are burned. So if the price of the coin drops, people will buy the coin because it would be cheaper to breed/mint new shoes, which you could then sell at the floor price at the open market. The only thing (in my opinion) that the project is depending on is a continuous new wave of people joining the platform. But then again it is only 3 months old and has a ton of users already who have proven that the system works. Eventhough it’s in a very early fase, but once it will be available to rent your shoes I think the whole thing could blow up! Just realize how many people are walking/jogging/running every day! I just love this project but maybe I am biased. I would love to hear your opinions
@@Kobusjackson The problem is when everyone wants to transfer their "in game" money to real cash. At one point there would be to many people running, and to few signing up and then the economy in the app would crash. Just think about that the shoe is payed off after about one month, that means that after that you're earning money. That money needs to come from somewhere. Either you have a lot of people buying the NFT and never using it and therefore having a net-spending in the app, or you have a steady stream of new users which hopefully continue in all eternity. As that most likely isn't the case, at some point you would have a total net-earning in the app and as the owners of the app, as far as Biaheza showed, doesn't have any other income stream, it will eventually only have losses. But I can imagine them figuring something out to have another way to earn income from the app as the way they're doing it now doesn't work in the long term.
@@sabedi2129 it’s not just new comers though. If you do a bit of studying for yourself people get rewarded for purchasing certain number of shoes. Each energy is 5 minutes of running/walking. For 1 shoe you can use 2 energy (10mins) per day. 3 shoes - 4 energy (20mins) 9 shoes - 9 energy (45 mins) And so forth so basically anybody who has used the app is aiming to get more shoes to get more income. For example: I have 9 shoes one being a level 26 common and I earn approx 80 GST per day. Todays price of GST is $5.10 USD per GST so $408 USD and after shoe repairs I get approx $332 USD profit each day if I choose not to level my shoe any further.
@@sabedi2129 I don't have the app or NFT but regarding about currently it has no income stream on the app, I mean they could down the line start running ads on the app like for example snapchat
@@tensiles Yeah, but ads would never cover the amount they're paying out per day to the users. The only way they could continue this long term would be if a majority of the people buying the NFTs wouldn't use them. But that's a bit unrealistic. The other way would to change the daily income to a few cents or a dollar or so, but that would just quickly make the game uninteresting and most people would leave the game. They could also increase the price of the NFT by a lot, but then they will get a lot less new users. The other problem with that is that you can breed new shoes. So technically you could get a 1k shoe for lot less which just hurts the economy even more. In summary I see it very hard for the game to work out long term the way they're doing it right now. I guess the most realistic way they're doing it is to try to get a lot of new users and then drastically change the amount of money you earn every day. If you would need 100 days or so to pay off the NFT, a lot of people would quit before they hit that and therefore getting out of the expenses from the company. Another way could also be to increase the income a little bit every day in a row you're using the app. That means that in the beginning you will just earn a few cents or so and you would need to run with the app every day for 20/30 days or so to get like 20 dollars. When you miss one day you would start at zero again. Down the line they maybe also try to get the Adidas company in it to sponsor them or so as they already have their VP as an advisor.
Ive never seen someone like you being very honest on money making process unlike other people just doing fake money making clickbaiting process for views and adding lots of bot comment thank you very much bro for being very honest ❤️❤️❤️❤️❤️
dude I remember when you had under 50k subs & I talked to you through the comments & said you will be big & loved how you created content. look at you now bro 💪🏽
Thanks for showing things how it is. So many ppl talk about that, abd u just know there might be smth wrong w it, but it's too complicated to find out by yourself
I bought one of these like a month ago, I’m making like $60 a day off of a $860 investment. May or may not be a Ponzi, but I already made my payback, so I’m playing with house money
@@michaelmaguire4374 That statement makes zero sense - "1200 is pretty cheap for NFTs nowadays"... That's like saying $1000 is cheap for a phone, it sure as hell depends on which phone.
@@victorlotz3457 does your phone pay itself off in 40 days and then start making you profit? Can you breed you phone with another to make a whole new one that you could potentially sell or continue breeding?
@@robindodd1969 you’re following biahezas channel to hopefully someday educate yourself on how to get rich quick. The only person who needs to get a life is you buddy.
Keep upgrading the Runner ... as you upgrade the runner, earning efficiency increases and you will earn more gst in comparison to the last level . P.S. I also have those shoes and am at level 25 😉
Hi user This is Bomb crypto help desk do you have any questions,or difficulty or request or do you have any issue such like Pending Transactions, Funds/Coin Value Loss, Token Swap, Staking Issues, unable to swap,staking error Migrating, Difficulty Connecting to Dapps, KYC Errors, or Reward Claim Issues, and so on.
I love Biaheza’s thought process going Through things. He tells it how it is, he’s unbiased and gives us the information and let’s us decide. As of right now I can trust him and that can’t be said for most people that make RU-vid videos.
This guy is a genius, he finds the app, he buys the shoe and then makes a video about it so that more people know and buy it, the cryptocurrency gains more value and he makes more money, good strategy mate
He literally calls it what it really is, a piramid scheme. If someone follows this video and loses all their money, it's a lesson they eventually needed to learn.
Suppose one way to look at it also, is that they take a small fee when people are repairing and using the gst to level etc. So they can make a profit off consistent already signed up members, so the idea that it needs new members 24/7 to work doesn't always have to be the case. The leasing feature will also allow a lot of people to get involved who can't buy a shoe and that once again will open up another avenue for people to generate income. Just a comment for thought, but great video as always mate!
The fees they get from existing users are obviously smaller than the profits they have to pay to these users. So they're not generating any profit from these existing users (they are merely lowering their expenses), and so they do regularly need new users. Secondly, the leasing feature will not change anything. Instead of the profits going to 1 user that has a shoe and is walking, the profits will now be split up between 2 users. 1 that has the shoe and another that is walking. Fundamentally, it changes nothing. It will only attract more users (that aren't even investors). Essentially it's still a ponzi.
In STEPN’s terms of use it states in section 2 the following… By using the App or the Services you represent and warrant that: you are not a current resident of the United States of America, China (Mainland), Cuba, Crimea and Sevastopol, Iran, Afghanistan, Syria, North Korea, Antigua and Barbuda, Hong Kong, Thailand, Malaysia, India or Canada (Ontario); and your access to and use of the App and Services is lawful in your country of residence in the manner in which you access and use them.
Well, you have to remember the value of the shoes might go up or down, but you still have them. @Biaheza made it sound like its 30 days to "pay off" the shoe. After 30 days, you got the value of the shoe, + the amount you ran in.
@@Viinson don't think about the value of the shoe because you can sell it. see it as a invest you make, think about the profit and that you can sell the shoe
@@Viinson From what I saw from the app and the whitepaper you need to fix your shoe as well after using it and it costs money. So the laces wear out or some other part of the shoe as you use it and you need to pay to fix it or it won't produce as much when you run. I think @Biaheza 's calculations were based without taking that into consideration. With this in mind I believe breakeven point takes longer
I think the way they make the majority of their money is by tracking the gps routes to send information to mapping companies and add running routes, not wholely based on new users signing up and putting money into the app. Idk though for sure
@@chencohen2369 it is, and also the money you make is solely determined what others would pay for your tokens so that's the other way they end up paying you, after too many people start doing this the tokens r gonna inflate hard
Heared about it 2 weeks ago and decided not to go in. Learned it the hard way with axie infity where I am still in a -80% loss. All this P2E things are just, as you said, ponze. Money comes from the new users and there's literally noway it can be sustainable in the long run
But because of the big names behind it don’t you think this will be something more because it taps into a diff market that hasn’t been fully realized yet. They can promote in running marathons and tradeshows. They can even start marketing campaigns and there’s like 90% of runners who don’t know about this app.
Spending $1200 on a virtual shoe and making money by running?? Jesus, this world keeps getting crazier and crazier... No doubt this app and the hype will crash at some point. From the way Biaheza explains it, it's not sustainable at all. LOVE your videos bro. Glad to see you posting more frequently again.
@@aliasone9827 The question is how long will it last? With my luck and track record on these types of things I'll put the money in now and won't even have enough time to recover my investment before it crashes. Still a hard pass for me but I'm glad it's working for you. Just be aware things like this aren't sustainable long term. It's only a matter of time before the hype dies out and that's probably honestly what's fueling this thing.
@@antetokounmpo9787 nobody said you NEED to do this NFT crypto thing to use ur two feet to walk outside. the video is about how u can be paid for walking.
@@Stodolnya As mentioned in the vid, you literally have to pay first to qualify to get paid to walk. You obviously don't get sarcasm in the original comment above.
@@antetokounmpo9787 theres no sarcasm. hes laughing at the idea that you have to first pay (invest) to be paid in return for walking which is something that can be done without the investment. basically calling it dumb.
If anyone wants to buy an NFT sneaker, I’ll do the walking 😂 I literally walk 7-10 miles a day sometimes up to 15 … My iPhone health will back me up on this, just sayin’
@@chencohen2369 I was talking about walking for myself, not including the distance put on from working, because like you said it probably would apply due to the speed limitations of not walking fast enough.
@@eversick7892 I’m not positive, but In the video he just posted he said the NFT sneaker he purchased was for jogging so I guess the higher speed the more money … but if he happened not be jogging the technology will probably indicate that & he wouldn’t be paid for that portion…at least that’s what I’m getting from it.
I am doing Stepn for 21 days now, already made my investment back today and now just profiting. And they also make money from ingame fees for buying shoes, transfering and upgrading the shoes, and also from sending gst tokens from spending to in-app wallet.
lol, don't know how you've made it to my browser, something with me being drunk most probably , but damn dude !!! like your style , content ! you rock!
StepN is one of the few projects I actually believe in. I’ve been using one sneaker for a month and have made back my money already. No this won’t last forever, but it is pretty cool.
@@Brandon-ez5xx imo this project is currently in the “too good to last” stage. I can’t see it being this profitable in a years time. I’m just enjoying it while it lasts.
@@Brandon-ez5xx It's impossible to lost long the way it's right now. Eventually no new users will join (or not enough new users) and you will first earn less money per day and later down the line almost nothing.
I was gunna download it until I heard the 1 sentence " they have technology so you cant just hop on your Onewheel" damn, I thought I out smarted the system...
