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For me the promotion of the underlying crypto coin is the more sinister aspect. The one you have to use to buy these tokens if I understand it correctly. Like with most crypto coins it's often described as an investment, but imo it's gambling - though outside most gambling laws.

If it was just the tokens, bit of fun, some polls I wouldn't mind much.

I don't think Socios is in the tokens and polls business. I think they're in the promote their crypto coin to get more "investors" to drive the price of that coin up business. This to me is exploitative.

Do you have the same view of all tokens?it’s just a means of exchange aka money. People buying dollars etc is little different. Just because the word ‘crypto’ is attached it makes it evil and gambling? In Islam speculating on currencies is illegal and maybe there are some ethical concerns but drill into this and how much is fear of unknowns and how much is rational?
 
Do you have the same view of all tokens?it’s just a means of exchange aka money. People buying dollars etc is little different. Just because the word ‘crypto’ is attached it makes it evil and gambling? In Islam speculating on currencies is illegal and maybe there are some ethical concerns but drill into this and how much is fear of unknowns and how much is rational?

Just most crypto currencies, not necessarily all.

Most will crash, as many already have. As NFTs did.

For me it seems rational. It's not like all these crypto currencies will just thrive, grow and play a positive role in society. Most will crash at some point. The list of pump and dump schemes is getting rather long. This just seems like a niche way of doing that.
 
TBH not looked into this that much so a question for those that have. On the outside it looks like a reward system that rewards in Crypto for buying Spurs product like tickets and merch with the option to other products. Have I got that waaaaaaaaay wrong?
 
Just most crypto currencies, not necessarily all.

Most will crash, as many already have. As NFTs did.

For me it seems rational. It's not like all these crypto currencies will just thrive, grow and play a positive role in society. Most will crash at some point. The list of pump and dump schemes is getting rather long. This just seems like a niche way of doing that.

Would be interesting to know more about how it works at other clubs, Juve etc. If you are just buying tokens for use within the Spurs ecosystem, how would you feel about that?
 
Don't think I would have an issue with that.
Ok, so the main idea is to buy tokens and use the tokens to do things related to the club. The crypto is just an extra layer, one extra step to get your tokens.
If you want to trade in crypto the Socio app isn't the way to do it.
 
I'm surprised some of you are naively saying Socios are fine.
It's just a bunch of dudes who thought, how can we scrape some money out of a load of gullible sheep? A-ha, let's link it to a club and tell the supporters that the magic coins are related to the club, then they will buy them.

It's just a load of flim-flam to scrape money from Spurs fans, simple as.

Don't try and pollute the thread with mentions of Islam or trading currencies or trading in crypto, this is just a scam to gouge vulnerable idiots with a love of Spurs.
 
I'm surprised some of you are naively saying Socios are fine.
It's just a bunch of dudes who thought, how can we scrape some money out of a load of gullible sheep? A-ha, let's link it to a club and tell the supporters that the magic coins are related to the club, then they will buy them.

It's just a load of flim-flam to scrape money from Spurs fans, simple as.

Don't try and pollute the thread with mentions of Islam or trading currencies or trading in crypto, this is just a scam to gouge vulnerable idiots with a love of Spurs.
Like overpriced jerseys and other merchandise?
 
Like overpriced jerseys and other merchandise?

Exactly. Any business is trying to "scrape" money from people. You can question whether the service or product has real value. And you can question the crypto wave. But this isn't really about the crypto bubble or speculation is it? The point it, you buy tokens to use for Spurs-related products. It is actually a use for crypto, which is unusual. Most crypto purchases are speculation, at least in the past. People thinking they will get rich quick. But this isn't that, is it? It is for Spurs fans who want to spend money on choosing the design of the Spurs Team Bus etc etc.

Unless someone can point out why this is so bad, I am fine with it. If people find it fun and entertaining, using (hyped-up) new technologies, so be it. And Spurs can sign an extra player on top of it.
 
Exactly. Any business is trying to "scrape" money from people. You can question whether the service or product has real value. And you can question the crypto wave. But this isn't really about the crypto bubble or speculation is it? The point it, you buy tokens to use for Spurs-related products. It is actually a use for crypto, which is unusual. Most crypto purchases are speculation, at least in the past. People thinking they will get rich quick. But this isn't that, is it? It is for Spurs fans who want to spend money on choosing the design of the Spurs Team Bus etc etc.

Unless someone can point out why this is so bad, I am fine with it. If people find it fun and entertaining, using (hyped-up) new technologies, so be it. And Spurs can sign an extra player on top of it.

I read it as you get points/rewards for the more Spurs related product you buy, is that wrong? If it is the case is it just not a more advance loyalty system?

In any case as long as ST holders and members are not forced down a path and its choice led it should be ok TBH
 
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