Thousands of idiots are sending Bitcoin to scammers

2020年4月26日

Ah, crypto. "A study has shown millenials were the most gullible generation and by far fall most for phishing scams". You don't say! They get scammed on the internet several times more than 75 yo grandmas.

There is a livestream running on youtube, has been for a while, of a recorded interview of Jack Dorsey, and they are actually telling people there is a giveaway "send 0.1 to 20 BTC and receive 0.2 to 40 BTC (double of what you send) and actually expecting people to fall for this and COUNTLESS BTC HODLING MORONS ARE ACTUALLY FALLING FOR THIS! How can anyone fall for this? How can anyone be that stupid?

I reported the video but it's not a video promoting Trump so youtube doesn't care, they need to allocate 100% effort on removing dangerous anti woke videos.

The price halving is in 2 weeks, oh it's going to be fun.

The scammers are very stupid they have a picture of the address but no text, so no way to copy paste, this will stop a whole lot of people from doing it...
There is a Qr code thought, but most people would have wanted to copy paste the address I think.

Was easy to put in the description... Maybe then youtube algo detects it more easilly and can block the stream?

*Not going to copy the address here*

They only received 0.31 BTC? I'm seing lots of people in chat saying they sent BTC... Maybe they're too stupid to understand "minimum 0.1"?

Maybe the scammers change the address regularly, maybe 95% of viewers are bots xd
But what about the people saying they sent BTC and haven't received anything?

Hey you know how it is, every time scams flourish, the top is not very far ;)















Plenty of scams going on
==> 'Announced late Friday, the unidentified owner of the site tried to sell the domain to an undercover agent with the Department of Homeland Security's Criminal Investigations unit, who said they wanted to use the site to sell fake COVID-19 testing kits, a plan the owner reportedly said was "genius."'

==> “Fraudsters are leveraging increased fear and uncertainty during the covid-19 pandemic to steal your money and launder it through the complex cryptocurrency ecosystem,” the U.S. Federal Bureau of Investigation (FBI) recently warned.

==> New York State Police Warn of Email Extortion Scam

==> Bitcoin Daily: Alleged Chinese Crypto Mining Scam Nets 11M

==> As you know the "totally legit" crypto exchange FCoin I mentionned a year ago (and got laughed at and "wise" people explained to me why it was not a scam) shut down and thousands of BTC went "poof"

==> New Zealand Police Spotlight Bitcoin Ransom Scam

And so on...

There is also:

==> Bitcoin (BTC) Miners Antminer S17/T17 Suffer Critical Failure Rate: Blockstream’s CSO (HAHAHA!)

==> In the US, a federal judge has issued warrants for the arrest of David Schmidt and Robert Dunlap. Schmidt is a former Republican state senator in Washington. He and Dunlop are alleged to have sold Meta 1 tokens that they claimed were backed by $1 billion in fine art or $2 billion of gold. The SEC froze the cryptocurrency’s assets and charged the firm’s operators with fraud on the grounds that there were no tokens. The defendants, together with Nicole Bowdler, who claims to be “an Earth Angel” in touch with the angel Metatron, were charged with fraud. (lol)

==> Bitcoin Scam: 14 Chinese Men Arrested in Malaysia for Allegedly Luring Investors into Fraudulent Cryptocurrency Investment Scheme

Even they sorta admit it:
cointelegraph.com/news/crypto-scams-on-the-rise-and-can-still-affect-bitcoins-price

The principle with this Ponzi is simple












Alcatel-Lucent

"Every one will always need sugar" "One day sugar will be every where and every one will eat tons of it" "One day optic fiber will be installed in the whole world" "One day every one will own mobile phones"





Yes, food commodities are insanely volatile.

They have a sugar chart going back before 1800 here:
winton.com/longer-view/the-sweet-and-sour-history-of-sugar-prices







It's going to be years before seing BTC 3 digits :(

2020年4月26日

注释

I knew I forgot something...








During the "good times", but really during the irrational bubbles, everything goes up.
When there is an obstacle on the road, then the solid companies show their strength, and the garbage ones fail.

In this post I look at what retail is buying most, and yes they are massively chasing losers, companies with bad fundamentals, that are destined to have very bad results, and are down massively:

The difference in crypto is there are no fundamentals, there are no oil producers and buyers, no farmers, no consumers, and no institutions with deep pockets driving the price up of the best ones and down of the worse ones. Also, since there are no deep pocket institutions involved there is no one to provide real support for dropping prices (well except Tether & whales manipulating the price). Bitcoin is dropping way faster and the "hard baghodl" period looks much shorter, for now.




If crypto was legit it would mean the best cryptos are the ones that drop less and go up more compared to the market average...
It would make chainlink one of the best bets? This doesn't work if participants are all ignorant gamblers.
It works when participants are professional financeers that know how to price assets correctly.



But what if pros are buying cryptos in secret? xd



And also alot of casuals are buying Bitcoin just because it's the famous name.







There might be some truth after all... the trashiest cryptos that will go to zero are dropping way more (and dumb money is more excited about those).





It's really very hard to find cryptos that are doing best, because absolutely no one cares. In 2005 people were still obsessed over Nokia, and ignoring Apple.



Personally this is what I'd go for...

Dumb money has been extremely massively buying USO (LOLLLL! World on lockdown time to buy Oil), which is an ETF that buys futures on Oil... And loses money over time, but buyers didn't bother learning what futures are or even reading a description of the ETF "not meant to invest long term", and some of the money they are losing ended up in my pockets and should continue to end in my pockets tyvm. They are likely part of the reason behind Oil negative prices.

A type of crypto (with a less inneficient database) could be used to represent the price of various commodities.

The best would be one that represents GDP and inflated and deflates depending on it.

The world does not need more FIAT currencies backed by nothing, the world needs less of it.

Dumb money is going to chase losers and think they are geniusses that are buying cheap and get decimated.
Nothing will ever change.