Crypto is still a scam. Someone prove me wrong
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.
If you require professional help to recover your stolen cryptocurrency, forgot your password, or sent to the wrong wallet address, contact BACKEND RECOVER at RESCUETEAM dot com for assistance
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.
Today We are happy to announce that we have partnered with ( HQRECOVERY22 @ GMAIL . COM ) to give victims of Cryptocurrency scams a chance at recovering their lost funds. To give victims of Lost Cryptocurrency a chance at recovering their lost funds.
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)
For every investment, you always have to prepare for the worst case scenario at all times. This my take on Cryptocurrency as it stands.
Cryptocurrency Market Overview
It is a fact by now that the cryptocurrency market is an erratic environment with tremendous volatility. Perhaps the best representation of the cryptocurrency market’s volatility was more than 5 years ago in 2018, where prices plummeted by close to 80% in just 8 months. Prior to that, the cryptocurrency market was growing at a rate of over 4,700% in just one year, which is a mind-boggling rate of return that retrospectively, is unsustainable.
The bear market in 2018 is a stark lesson for many in the cryptocurrency market on the intense volatility of cryptocurrencies. Within a short span of two years, cryptocurrency prices have intensely fluctuated. As a result, many have viewed cryptocurrencies to be a highly unstable asset class fueled by uncertainty and speculation. The largest and most popular cryptocurrency, Bitcoin, experienced tremendous growth in 2017, increasing in price from approximately $700 to a high of almost $20,000! That is an astounding rate of return of over 2700% in just a span of twelve months!
It is therefore, no surprise that a great deal of people jumped on the cryptocurrency bandwagon during the bull run in 2017.
In 2018, the market popped and the size of the cryptocurrency market fell from an all-time high of $810 billion to a mere $100 billion, with the general prices of all coins falling close to 90%.
Actually there are several other digital currencies but bitcoin is the most valuable.
First you need to know a few things about bitcoin and how it operates. In 2019, 1 bitcoin is equals $10,701 in the market, there was a period earlier that year when it was at $3000 per 1btc so imagine if you bought it at that time you'd have $9000 profit on bitcoin. This is basically what people mean when they say “buy deep”. The risk takers make millions from this single process.
In 2020, the economy shut down due to the Covid pandemic, Bitcoin's price burst into action once again. The cryptocurrency started the year at $6,965.72. The pandemic shutdown and subsequent government policies fed investors' fears about the global economy and accelerated Bitcoin's rise.
At the close on Nov. 23, Bitcoin was trading for $19,157.16. Bitcoin's price reached just under $29,000 in December 2020, increasing 416% from the start of that year.
Bitcoin took less than a month in 2021 to smash its 2020 price record, surpassing $40,000 by Jan. 7, 2021. By mid-April, Bitcoin prices reached new all-time highs of over $60,000 as Coinbase, a cryptocurrency exchange, went public.
Institutional interest propelled its price further upward, and Bitcoin reached a peak of $63,558 on April 12, 2021.15.
By the summer of 2021, prices were down by 50%, hitting $29,796 on July 19. September saw another bull run, with prices scraping $52,693, but a large drawdown took it to a closing price of $40,710 about two weeks later.
In Nov 10, 2021, Bitcoin reached its all time high of $68,789 . In mid-December 2021, Bitcoin fell to $46,164. The price started fluctuating more as uncertainty about inflation and the emergence of a new variant of COVID-19, Omicron, continued to spook investors. During this process, Investors made a life time worth of returns.
Bitcoin currently sits at $25,908.63 and who knows, There might just be another bull run soon.
For more info about the trajectory of bitcoin, you can check out;
Bitcoin's Price History
That being said, there are still stories of individuals making a tremendous amount of money through cryptocurrencies. Although many are aware of the disruptive and elegant technology, the allure of investing in a complex and risky asset has– more often than not – overridden the fundamentals of the technology.
HOW TO TREMENDOUS PROFIT FROM CRYPTO?
Bitcoin Mining and Investment;
Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few coins. The block reward was 50 new coins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases.
The independent individuals and companies who own the governing computing power and participate in the crypto network, also known as “miners," are motivated by rewards (the release of new coin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network.
If you work with the right financial experts, you can make tremendous profit from this process. My DM’s are always open if you have questions on how to proceed.
Be it crypto or forex, one has to be very careful. I worked with Spirassp. com team at a time when a client of ours was receiving notices from IRS almost every week, His Broker was stealing funds using his details he use on their website. They were reviewing his tax filling for 3-4 years back. His taxes were filed by a tax filing company and due to their mistake he was in a very difficult situation. Loss of income during COVID shutdown was not helpful. Luckily he reached out to Spirassp and they were very helpful with the recovery. His tax issues with IRS has been resolved, He was able to get his money back that he invested with the Broker and I am sure he will be able to fulfill his commitments to IRS. One has to be really careful with these brokers.
Commodi laboriosam eos numquam quas saepe omnis rerum. Nostrum id nobis atque recusandae in dolores. Voluptate excepturi et deleniti cupiditate impedit qui quo. Velit aut rerum ut corporis nesciunt cum ut.
Repudiandae odio similique rem error similique quas maiores. A illo excepturi debitis debitis. Aliquid debitis earum excepturi. Soluta et eos non tempora cum.
Officiis officiis molestias natus soluta. Ipsam tenetur totam dolorem voluptatibus id molestiae ad. Assumenda consectetur atque dolorum nesciunt ex. Odio ea consequatur exercitationem dolorum saepe.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Suscipit dolor eaque excepturi nostrum laborum. Deserunt et ipsam unde esse. Aut qui saepe nulla nostrum laboriosam.