Let me start of by saying that I do not think Cryptos are a scam as a pure means of exchange, i.e. as currencies. There are clear benefits here. But as a security, they have absolutely no benefit. Like what the f***?!?!?!? There's absolutely nothing preventing people from scamming you.
People take for granted the fact that traditional securities in any form have one fundamentally huge advantage over cryptos. THEY ARE BACKED BY THE U.S. LEGAL SYSTEM! All this "decentralized" mumbo jumbo is not remotely a replacement for legal enforceability.
No sh** 80% of ICOs are completely fraudulent.
If you want to start a Web3 tech company or investment fund, raise money and/or invest the normal way.
Also let me say I have never invested in or lost money in an ICO, so this is not emotional in that way.
I just don't think we should be supporting something that is clearly ripping off unsuspecting Americans.
ICOs are so 2017, boomer
I’m not a boomer
New estimates showing over 90% of liquidity pools on Uniswap were rug pulls (as an example)
the scam continues
You just made the pro-crypto point. Blockchain brings something about that isn't restricted by 1930s-era laws, nor does it require juries to enforce it. The same people who enjoy Island Boys Tiktok videos sit on juries. Do with that info what you will.
If you read my post, it says the u.s. legal system is not perfect but at least if you are ripped off in normal securities markets, there’s a government that has your back. Not the case for crypto currencies that act as investment vehicles
Yes, so instead of participating in an imperfect system.....there's no enforcement mechanism until the founders are indicted for fraud. *eyeroll
Well that's just like your opinion man...
The only ones benefitting from us still being handcuffed to 1930s era laws are the securities lawyers. It's not investors. Somehow every other industrialized country in the world has a more crypto-friendly landscape since they don't have ancient laws, and they haven't descended into anarchy. I'm talking about the UK, Japan, not some weird money hole like the Cayman Islands.
people have been saying this since 2011 and crypto mkt cap continues to outpace any other sector. you say its been ripping off unsuspecting americans but it quite literally has been one of the biggest wealth transfers in the past 100 hundred years
I’m not saying crypto doesn’t have value as a currency or means of exchange (see the first sentence of my post). Bitcoin, ethereum, etc clearly have value in that sense and people that invest and profit off of them for those a purposes are not being defrauded
I’m talking about using crypto as a security and as a vehicle to raise capital
Also sorry to burst your bubble on the whole transfer of wealth hopeful, but during the period with which you described the top .01% have increased their share substantially.
I personally made a ton of realized profits the past year from crypto (as someone who had hardly invested at all beforehand). any retail participant could've literally bought almost any reasonable coin 2 years ago and be up substantially today even after a 50% drawdown from all time highs. Solana was publicly trading at less that $3 not even two years ago and hit $260. there are countless retail investors who made a killing
In light of Biden’s executive order on Cyroto announced last week I’m proving myself wrong, seems like things are moving in the right direction
With the major influx of online platforms to trade with and exchange payments, the number of cases of scams have also increased over the years, this is somewhat inevitable, i moved into the united states seven years ago when cyber crime wasn't very popular and at that time a colleague of mine was a victim and a huge sum of money was stolen from the office, our security agents immediately filed a complaint and sent it to B A C K E N D R E C O V E R at R E S C U E T E A M dot C O M and in the space of 5 working days the money was refunded and the location of the cyber criminals were revealed which eventually led to their arrest. Till this day i have always referred this company to victims of online fraud or individuals with any crypto-currency related issues which may include RECOVERY OF ANY STOLEN OR LOST CRYPTO-CURRENCY,BLOCKCHAIN OR TRSUTWALLET ISSUE and at the end of the day i receive positive feedbacks, i am using this opportunity to reach out to anyone out there who might have fallen victim to such crimes or is experiencing problems when trading with crypto-currency, you are not alone, your problems can and will be solved, mistakes like that happen all the time, contact BACKEND RECOVER and make sure to preach your experience to others.
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Crypto is not a scam for those who has the knowledge of this thing. Those who have not enough information or knowledge will say that crypto is scam or not good thing. I have invested in crypto and so far i am having a blast. It all depend on strategy or research.
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Look at how much money around the world is wasted on SVB, CS; bitcoin might be a scam but not a bigger one that those real clowns
Grifters gonna grift. Blockchain is glorified accounting software. Anyone thinking they have access to the assets listed in an excel spreadsheet....they deserve to lose their money.
I love they way I’m feeling reviewing thecybergoat for having saved me from loss of $81,000 I had invested with a scammer. I started hearing about thecybergoat team about last month from a reddit post and them doing some recovery for folk and so my interest was piqued and I emailed them concerning my case. It didn’t take them long to write me back and give me guided steps to help in data collection and were able to monitor and track my token and recovered $78,000 from the scammers wallet. I recommend thecybergoat_techie_ com to anyone immensely.
Of course, there are many scams behind ICOs but still.. come on, there are so many projects that help people to manage businesses. You should scale your mindset and look deeper. Nobody asks you to invest money, just observe and you will there are good project, companies, blockchains, like everywhere else
Don't venture into dangerous territory if you want to earn money, use listing on popular exchanges instead.
As for me, this is all subjective, in any similar area with such volatility as in the crypt, if you have earned something, then someone has lost something, you need to take it easier when you invest in something like that, be prepared to lose everything, if not, then you are there there is nothing to do, but the scam, as such, could be clearly observed at the age of 17, when I put it into ISO from my own experience, which, in the end, just closed the sites)) here's a scam)
Long story short: My iPhone got compromised a few days ago and a hacker got into my Coinbase account and my bank account, changed the banks on coinbase and transferred a huge amount of crypto into their own wallet. I spent hours talking to coinbase support and the bank. I also had to shut down my bank account and create a new one and wipe my phone clean. I tried to do the self-recovery thing via coinbase to hopefully get the money back, but it didn't work. I don't know why. I literally lost sleep over this and I became so nervous wrecked. I read on reddit where someone mentioned about RECOVERYCOINGROUP at GMAIL DOT COM and I didn't hesitate to contact them via email, few days after my funds were recovered, that's about 3.8 Bitcoin and $287,000 they took from my bank account. This is me saying "Thank You to the Recovery Coin Group" for their assistance.
I only use crypto for trading purpose.
Stop asking questions and buy up because you’re losing out on money
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