Crypto Need to Die to be Reborn
Lately, everyone is thinking that Crypto story is over. It was good while it lasted, but it is over. People are panicking, running and trying to get at least some FIAT for their coins. Price is dropping heavily, and it is possible that we will go much deeper than we are at this moment (BTC/USD 3600$). But not my friend CryptoDire, he is holding, and I talk to him a few days ago about the questions you all ask: Is Bitcoin dead?
You all have seen pictures of hope saying Amazon was dead in early years, BTC had died several times but reborn after death. And these pictures are all true. You need to die to become big. So what is happening right now on the market? Why are we losing value? One of the answers is that weak hands need to be flushed. Scammers, cheaters, con artists, Ponzi's and all other villains need to be removed from the blockchain. After all their primary goal on the market is making fast cash, no matter who will suffer because of that.
Crypto Ponzi Schemes
Let me tell you a story about CryptoDire and his friend Jim Coffee. Jim Coffee calls CryptoDire on the phone and asks him for advice on Crypto investment. One of his friends has a friend who has a friend that makes** 300% in 2 months **by mining cryptocurrencies.
Jim Coffee: "Yo, my man, bro, I saw your Twitch channel, didn't know you are doing Cryptos. Can you give me free advice if I should invest my money in some package that my friend send me? Supposedly it will make me a 300% return in only 2 months?"
CryptoDire: "Sure man, tell me what is the website that offers this generous profits?"
Jim Coffee: "Bro, I don't know, my friend told me that his friend told him that some guy is having a group with 10 000 people and all of them are making money. The program is huge. All you need to do is invest 1000$, and in 2 months you make 300% profit."
CryptoDire: "I don't know bro, I am a skeptic, these are huge returns in hard times. How are they doing it? Are they running some special bots to trade the market? Did they find a goose that is laying golden eggs on the market? Or maybe they have direct information about the upcoming pumps?"
Jim Coffee: "No man, no trading and no info about pumps, it is mining. You buy a package, and the program will give you returns, it is all about mining."
CryptoDire: "Ok let me check, maybe there is some GPU, some new ASIC that is killing the mines."
After 20 seconds
CryptoDire: "Man all the GPUs are losing money, only 1080 TI is making some small profits if you pay cheap energy. It is impossible to make money at this time with mining, so they are, or there is something else behind the package. But tell me, do you get any extra cash if you invite someone to the program, like an affiliate or referral program?
Jim Coffee: " Yea man, how do you know? That is the reason why I am calling, I am already in, I need to bring more people to make more money. I was wondering maybe you will be interested in buying a package since I see you are into Cryptos."
CryptoDire: " No way man, I am into Crypto, but not into spreading illegal Ponzi schemes. You have been scammed, your only hope to make cash now is to scam other people. Unfortunately for you, I am scam resistant."
Moral of the story:
I am glad that Bitcoin is bleeding, we need to flush these kinds of people and make sure they never ever invest or do anything on the blockchain. In fact, these Ponzi schemes programs are not even buying Bitcoins, all they do is using a crypto word as well as Bitcoin reputation to lure poor people into buying their fake packages. If you know some real-life examples, please share them in the comments below. Let's teach people about the scammers here and how they operate.