Scams, scams and more scams


#1

People ask me at work about crypto and seem interested in the idea of crypto, however I find myself warning them to stay away.
The biggest reason for this is the amount of scams within the crypto space. I have not seen any new technology industry that has been affected by so many scams.
There are so many it is to hard to list them all, even the largest cloud company which had a large following seems it may of been an elaborate scam.
In this industry people so often talk about red flags, however even those companies that look reliable seem to be fading away.
For Crypto to ever be considered as a safe way to transact then it needs to become a lot safer, I have not invested as much as many here, however do not like seeing more earnings being lost.
The Crypto community will soon realize that the scams that have gone on over the last 18 months will be the thing that kills of crypto in the end.
People like myself will leave and when asked any question about anything crypto we will tell people to stay a million miles away, this part is a shame as the technology is great, unfortunately across the board the execution has been poor.


#2

Im not like you, im better looking.

I have all but left everything crypto


#3

I don’t know about scams in crypto, but I did receive a e-mail from my uncle, who is a Nigerian Prince, who is sending me a check to cash for him. I only have to send him $2k out of it and I get to keep the other $23k for myself. I won the jackpot so maybe I should invest deeply into paycoin.


#4

@Leo I think we’re cousins.


#5

Did you also win the UK Lottery?


#6

I feel sorry for you as your uncle the Prince in Nigeria offered me 200 million for a small processing fee of 5K he must like me more. EDIT I offered him Pay Coin but he said that it was a scam coin and he could not accept it.


#7

As a matter of fact I did!

My uncle the prince is very thoughtful. He even scanned his own email with Avast! for me and found it to be virus free.


#8

http://scrypt.cc/ is SCAM

From the start login difficult Until data collection and the problem of electrical contractors will recover in a few days until the website could not be accessed anymore
  1. In your opinion bitcoin mining investment is safe? or more scam?
  2. Is investing in gethasing.com or coloredcoin.io it SAFE? What is the guarantee if it is safe?

#9

I do the same sometimes, depends on the audience. The less technical they are the greater the warning. Those I believe can handle themselves I point to info and tell them to decide for if they want to go on, if so, hit me up and we can chat more.

No, it won’t. Scams will come and go no matter what medium of exchange is used. It appears to be human nature for some to want to exploit others for financial and material gain. The tools change shape, size and colour but the end result is the same, a victim.

Again, no you won’t. Because these technologies are coming into our lives in ways that we won’t even see. Asset registries, Banking (yes it’s finally coming), value movement etc etc.

One question is just what is the place of proof of work in the mix? It’s woefully inefficient and achieves little in teh grand scheme of things. Harnessing all that power for more than a Blockchain, say added protein folding or other useful data crunching function adds additional value to the process of mining.

But Proof of Stake is a great technology, but needs work still and has its own suite of issues to overcome.

Digital Value, Asset, Registry and Exchange via Blockchain is going to be around for a long time to come, its about finding the right Blockchain to buy in to…to date, BTC’s has been the defacto standard, this could change, not overnight, but over time…

just my 2cents