Cryptocurrencies & NFTs are mostly scams

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Deactivated 1950056
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Cryptocurrencies & NFTs are mostly scams

Post by Deactivated 1950056 »

With all the fear of missing out and the hype about crypto that still seems to have not gone away, it is time to call a spade a spade. These digital "currencies" and their anonymous transactions through the blockchain protect scammers and they just often disappear with people's money. There have even been entire coins made to scam people out of money. Rug pulls and pump and dumps are rampant.

https://theconversation.com/scams-and-c ... for-182033

https://www.cnbc.com/2022/06/03/crypto- ... 1-ftc.html

It is quite clear that scams and cryptocurrencies go hand and hand, and the fact that is decentralized is more of a vice than a virtue. Not only is it more often than not a tool for scammers, but also the claim that they could ever replace real money is false. Speculative investments are not going to make for a good currency to base an economy on.

TLDR: If someone tries to get you hyped up for cryptocurrencies, they're almost certainly trying to scam you. Please don't fall for it.

Some people have invested their entire live savings into these things (never a good idea), and were left holding the bag. Not a worthwhile investment.
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Mick
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Re: Cryptocurrencies & NFTs are mostly scams

Post by Mick »

Get rich quick schemes generally never last for long, the crypto nonsense has lasted longer than the pyramid selling plan though.

I also look upon insurance as a scam as well.
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Deactivated 1950056
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Re: Cryptocurrencies & NFTs are mostly scams

Post by Deactivated 1950056 »

Mick wrote: Sun Aug 28, 2022 9:16 am Get rich quick schemes generally never last for long, the crypto nonsense has lasted longer than the pyramid selling plan though.

I also look upon insurance as a scam as well.
It's sad because the wealthy involved with these schemes will not let it die out, nor am I optimistic of any crackdowns.

And yes, insurance is a scam.
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[Dimetrodon]
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Re: Cryptocurrencies & NFTs are mostly scams

Post by [Dimetrodon] »

https://web3isgoinggreat.com/

This is a pretty cool website that shows off the failures of "web 3.0" and other associated "projects."

It's amazing how many spammy profiles I see on this site that pertain to the blockchain.
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