What I have noticed over the last 12-18 months is very alarming. The birth of something really nasty. This time it's all about speed. How fast can they steal your money, and it's not even physical money, it's digital money.
GREED GREED GREED !!!!
It's the same shit you see on old school scams like shady door to door salesman, handyman taking advantage of Elderly people, fake Donations drives, chain letters, MLM scams the list goes on.
Now it's just the same animal with a different head. We're taking about the boom of Crypto Ponzi Coins, slick salesman lure unsuspecting newbies into they're worthless Cyrpto coin Ponzi scam to make a quick digital buck.
How does it work?
Very simple, they put up a slick website. Get a bunch of people together to promote it by dangling the carrot with the offer of high commissions. Like flies to shit you will always get a pack of greedy people motivated by money, you don't have to look far. So they promote this useless Ponzi coin and get newbies to pay with Bitcoin in exchange for artificially and hyped up bullshit coin. The price is what they say it's worth, and Ladies and Gentlemen this is where the games begin. Problem is they win, you lose.
How can you spot a Ponzi Coin?
Easy, it has no intrinsic value meaning it doesn't standalone, it has no whitepaper, no blockchain, no core development team, no financial backing. It's usually promoted and held up by MLM backbone of greedy people. The price is grossly over inflated and it's not publicly traded on any reputable exchange like Polo, Bittrex, Kraken, Bitfinex. Infact they have they own scam exchange where people need to buy in at they're over-inflated prices.
What can you do?
Nothing, just avoid them if you don't want to lose your money. If it's fast money you most likely lose than win. Take example of Casino and the Lotto. Can you win yes, are you most likely to lose more times than you win, affirmative. The crypto currency space is not regulated. This is the latest breeding ground for the new sophisticated scammers blatantly selling something that it is not. Deception is they're weapon of choice. This new industry has sharks swimming around it really to eat you alive if you get sucked into they're scam or quick riches. Trust me been there done that over some 9-10yrs in the make money online space. It makes me vomit.
Conclusion:
If it's to good to be true it's probably is. Be careful who you listen to and get your information from. If they are doing it for they're own selfish needs before your selfish needs (lol) then think twice. You selfish needs come first haha. Just joking. All the points I toughed on earlier about the Coin must standalone, must have a whitepaper,a blockchain, a core development team, and financial backing, and it must have a plan and testnet for future growth and updates. If it doesn't ...... run
Now back to those selfish needs, please follow me on Youtube, Facebook and Twitter and of course follow me here.
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