Youtubers Pushing Crypto Scams by calaber24p

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· @calaber24p ·
$94.16
Youtubers Pushing Crypto Scams
For a while now I have had an opinion on, but didnt want to mention certain youtubers that have been pushing crypto scams. I mostly wanted to stay out of it because people seem to address the matter better and also some of them are part of the steemit community as well. However, it has really gotten to a point where besides all the red flags and warning tape, people continue to listen to these β€œoracles” and take their suggestions seriously.

<center>http://chapplerei.com/wp-content/uploads/2017/03/scam-image.jpg</center>

There is a ton of money to be made if you have an audience in the crypto space, especially if you were an early bitcoin adopter and wished to start an ICO or fundraising event. While I think most ICOs are scams and I would suggest staying away from them for the most part, they arent as bad as certain scams that are being pushed by prominent youtube crypto vloggers. Coins like bitconnect, which have pretty much admitted to being a ponzi by design, are pumped and people are going to be left holding the bag.

In many ways many of the new coins with zero value and all speculation are a type of pump and dump ponzi scheme as well. I like bitcoin and I think it has many use cases, but I even think the price is a factor of mostly speculation. Coins with anonymous developers or many times no developers at all, push out a clone and suddenly there is a market cap of a hundred million dollars overnight. It is obvious this wont be able to be sustained in the long run.

<center>https://sellertools.s3.amazonaws.com/thumbnail/37/6b/376bd214f3388a38a4b1e16f7403b96f.jpg</center>

If you are the creator of one of these pump and dump coins it is very easy to go to a big crypto youtuber and say β€œhey well give you x amount if you push it on your show as the next big thing”. Ultimately these people do it and they continuously make money off of it. Even if they were given nothing, they could still buy a bitcoin worth and certain people can push the price 10x in a day. These people are scammers and using inside information to drop the bag on their viewers. They are scumbags.

The thing is they will continue to pump coins as long as people are willing to buy in and they have no negative consequences against them. Part of the allure of the viewer is that they often think they are getting in early, but if you are watching it on a youtube channel, someone is in earlier than you and often the odds are stacked against you to lose. It is a complete gamble, so if you wish to treat it like that, then go ahead, but don't expect sympathy if it goes wrong and you end up being the bag holder. I see many people talk about losing their life savings and that is a burden those youtubers who have pumped have to live with. (Although most of them probably dont feel empathy)

-Calaber24p
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@bloomberg215 ·
$0.12
Tnx for sharing. I believe that one of that scams is Bitconnect.
πŸ‘  , ,
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@calaber24p ·
Its pretty much a ponzi, other peoples money in a matter of speaking is used to payback people who got in earlier and didnt pull out. The second theres a bank run the whole thing will collapse.
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@fechaugger ·
$0.13
My question:
Who the hell takes investment advice from Youtube?
πŸ‘  ,
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@calaber24p ·
You would be surprised. I see tons of people commenting watching and buying
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@gersson ·
$0.04
Thanks for sharing this post, it seems to me an unscrupulous action, thanks bro @calaber24p
πŸ‘  ,
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@calaber24p ·
I dont want to be super involved in the drama so I wont name people specifically, just watch out
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@gersson ·
Yes of course I understand, thank you! @calaber24p
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@shencoin ·
$0.05
yeah there are many bloody scamers which play the feelings of people and not think any thing and good to share and talk on it @calaber24p
πŸ‘  ,
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@dreamrafa ·
+1000000... Im sick of these people trying to drag you into ponzi schemes, they do nothing else, only promoting scam sites, all their money is made by these scams, you go to their YouTube channel and there is no useful information at all, only: "lending xx$ in shitscamconnect site :O"... This is unfair for so many new crypto people who will soon or late be disappointed and will blame crypto community when these ponzi's blows...
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@rayhanahmed ·
Matter of thinking. Not completely depleted.
πŸ‘  
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@hoodaim · (edited)
Well, it is nothing new. This is how marketing works :) When you make a new product, let's say some shitty balloons, you go to the same youtubers and ask them to promote your product. It could be a cool invention or a total garbage, but they don't care they just "pump" the same way like they do with ICOs. And yes there is a lot of scam, but it is more related to the fact that there are no institutions that control and issue licenses for new ICOs.
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@artz ·
$0.07
Youtubers either don't even try to analyze projects they advertise or either are too greedy
πŸ‘  
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@calaber24p ·
Im almost certain its greed. Even if they say they are holding onto a coin, I think many are cashing out a ton behind the scenes.
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@drewley ·
Thanks for the info! I’ve had a few friends try out Bitconnect, but I’m staying far away from it
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@gikitiki · (edited)
Where there are people willing to buy, there will be thieves willing to sell. 


<center>
![snake oil](https://upload.wikimedia.org/wikipedia/commons/6/6d/Clark_Stanley%27s_Snake_Oil_Liniment.png)
</center>

https://en.wikipedia.org/wiki/Snake_oil
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@pbgreenpoint ·
$0.68
Plenty of scam pusher out there unfortunately. And for any newcomers...ALL HYIPs are scams...STAY AWAY. You've been warned.
πŸ‘  
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@alishannoor ·
well youtube are also a source to make money so people are using it to make money  as well and youtube are getting there advantage
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@loulauman ·
there is a french youtuber that is really great and truly loves sharing is knowledge on crypto @hasheur. Wanted to share someone who is actually not a scammer. lol
πŸ‘  
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@asolopreneur ·
$0.05
Hey @calaber24p

Scamming is part of digital marketing. There are many sites where I see scam advertisements and nowadays it's become easier to blame program or service just because it didn't work for a person.

There are many MLM schemes which are elite but people think MLM is a scam.

I think you should not blame only Youtubbers because I see scam/spam posts on Facebook, Twitter, and on Steemit. 

It's upto us, we should always research about companies and websites before investing our time and money. Don't you agree, @calaber24p ?
πŸ‘  
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@scogold ·
I think it's important to realize that if you choose to invest in something that sounds too good to be true, it is. I made the mistake of ignoring clear flaws in search of profit with Bitpetite a few months back, and it broke. I do think it's for you to do your own research and invest at your own discretion.
πŸ‘  
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vote details (1)
@lokiyngling ·
$0.44
I'm with you! There always people whom just want to make money and hustle people. ICO looks like the latest scam magnet...
πŸ‘  , , , ,
properties (23)
post_id20,197,504
authorlokiyngling
permlinkre-calaber24p-youtubers-pushing-crypto-scams-20171212t102225921z
categorybitcoin
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vote details (5)