With all of the excitement of the Mogul debacle a few days ago, I wanted to take a closer look to what the big payout of the scam really is. Since I do not have any insider information, this is all speculation, but all of the pieces of the puzzle seem to fit.
Karmakoin is the key
During is presentation, Matt was pimping getting bitshares ready. Why? Because the heart of this game was going to be Karmakoin supposedly backed by gold. Okay, that's fine, but where is the scam? It's right here.. .png)
The whole idea revolves around the "ICO" of Karmakoin, the only problem with this, is that Karmakoin is an already unlisted junk coin called Karmacoin, which has been delisted for a couple of years and has been around since 2014..png)
As of May of this year, if you could find an exchange, you could buy karmakoin at a rate of $0.000004 to $0.000005
Now we see the next portion of the scam take place. Thanks to @profitgenerator for this post: @profitgenerator/top-5-popular-scams-to-avoid
In scam #2 we see what's taking shape.
- Penny Stocks
After a scammer has grown out of making ponzi schemes, they move into the stock market to get access to more sucker money. The stock traders are no more intelligent than you average public, and they are also gullible enough to give their money to scammers. Penny stocks is a pretty easy scam, they just create a shell company, and have no product whatsoever, just rely 100% on marketing/advertising to sell a dream to suckers. I used to work for an investment firm, trust me, I have seen plenty of penny stock scams, and they all have the same pattern. It is the same always:
Create a shell company
Have nothing, just an idea that sells
Rely 100% on marketing / advertising to promote that idea
Get investors by promising them that your idea will make a lot of money
Sell all your stocks while they are buying for huge profit and resign from the company
Retire
It is always the same pattern, so if you can identify this, you may protect yourself from stock scammers.
Sound Familiar?
The promise of a game currency backed by gold and a vague video of what VR is.
Promise of huge returns for doing what you're already doing!
This is the classic Pump and Dump.
So what about today?
Let's look at where Karmakoin/coin is today
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@0.000028, it's trading at a near 7X multiplier from just last week. There's the pump..
And..... .png)
There's the Dump. Look st the drop in the last 24 hours.
So that's what I was able to find. Like I stated earlier, I do not know this as a fact, this is just what my curiosity has led me to find. Let me know what you think, did I miss something?
Thanks for reading!