> Well, there's USI-Tech, bitpetite, ethconnect, davor, lendconnect..... to name just
> a few.
Absolutely. In my opinion, most people trying out the "Big 3" (BTC, LTC, ETH [,BCH]) probably haven't even heard of most of those.
And most people that are much more involved in crypto than the "trying it out" public group that HAVE heard of them know that they are likely a scam.
So, I just don't see it as some widespread things. My friends that really do crypto know that they are scams. My friends that have no idea about crypto but are buying LTC at Coinbase due to FOMO haven't even heard of those things, so they aren't really a concern.
> Ok maybe "all over" is a stretch, but there are a lot of new people getting into
> the crypto world and these scams have been growing like mushrooms. Most were weary,
> but how often did many of these people join because a friend or someone they knew
> joined, legitimizing the new guy to enter in....? So I do have sympathy for some
> people who signed up and lost it all, because while older folks may remember the
> pyramids of the 70's and 80's..... you think a 22-year-old kid has that same perspective??
> And now it's crazy b/c the younger generation will take their advice from say, like
> a Youtube teenage millionaire.... because if he can do it, why not me, right?
Ok, I get it. I guess it could happen here and there. I just think most talk about it being widespread is overkill. I just don't see much talk about it except in limited circles.
Kinda like any OTHER pyramid scheme, right? I mean, sure, there are people pushing Amway or other MLM stuff still. Yes, some people make money in them. Yes, many consider them basically a (legal) pyramid scheme. So, yes, people should be warned and such. But I don't see them as "widespread" even though lots of people are involved with them.
> And not that I really know much about these platforms, but BitConnect was based out
> of east Asia, I think... like Thailand or Vietnam or something. A lot of those middle
> class Asians just got royally fudgeed, too, because they were a big part of the customer
> base. It's one thing to sucker dumb Americans who have the opportunity to educate
> themselves and have access to all this info..... but some of those other poor sons
> of doges went in on the good faith of their friends, family and countrymen on nothing
> but promises. No real tech or anything.
Agreed. I do feel bad for (some) people that were scammed. But this is just like every time I watch American Greed
and there is some old couple that dumped their life savings and retirement into a broker who said that he could "guarantee 10% per month returns!" Um, yeah, I kinda feel bad that you were scammed -- but really?? Come on!
> idk... I'm just saying.... like John said.... the media and govt will use scenarios
> like this to demonize the whole thing.
Agreed absolutely. That is the concern. That the public and media (and government) will use such things as an excuse to go "See what happened with Bitcoin?? All those people scammed!" -- when, of course, BitConnect is not at all Bitcoin (or ETH or LTC or BCH)...