ponzischeme
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OneCoin founder Ruja Ignatova, who steered one of the worldâs biggest cryptocurrency frauds, is back into the spotlight more than five years after vanishing from the public eye.
#BTC #dyor #onecoin #ponzischeme #cryptoonindia
#BTC #dyor #onecoin #ponzischeme #cryptoonindia
Con argument: Meme coins are just a fun Ponzi
There I said it and I stand by it. Meme coins are just a fun Pozi scheme.
Why:
The nature of meme coins, Meme coins are in other words coins made as a joke. The whole point of buying this coin/token is to hopefully be able to dump these tokens on someone else for some profit. Thats IT. When you buy a meme coin your someone else's liquidity. You buy a meme coin not because you think the coin will have a use case in the future but because you think you can dump it on another guy. And that guy thinks he can dump it on another guy, etc, etc. All until the guy doesn't have anyone to sell the coin to and the price plummets. I just described a Ponzi.
Why do people buy meme coins in the first place? Well because they see people posting 100000000% gains. You get greedy so when some random guy on Twitter tells you that X coin will flip eth you drop your whole bag in. Then either 2 things happen. A) Coin gets rugged you sad. B) Coin goes up! Your in the green but instead of selling you and others start shilling the coin everywhere hoping to pump more! You get stuck in an echo chamber. Fuel ends and you're holding the bag. You are sad.
The difference between meme coins and other coins is well other coins have actual use cases. You buy other coins, yes because you think you can sell it for more but chances are you believe in the coins tech's future success so it will reach your desired price.
Meme coin = Pure hype
Other coins = You believe in the success of the tech
So TLDR: Every time you buy a meme coin, your hoping you can sell it to someone else for more. But chances are once you hear about the coin its already at or close to the peak. DYOR as always and always assume meme coins will go to 0. As the majority do.
#Meme #memecoins #ponzischeme #ponzi #dyor
Why:
The nature of meme coins, Meme coins are in other words coins made as a joke. The whole point of buying this coin/token is to hopefully be able to dump these tokens on someone else for some profit. Thats IT. When you buy a meme coin your someone else's liquidity. You buy a meme coin not because you think the coin will have a use case in the future but because you think you can dump it on another guy. And that guy thinks he can dump it on another guy, etc, etc. All until the guy doesn't have anyone to sell the coin to and the price plummets. I just described a Ponzi.
Why do people buy meme coins in the first place? Well because they see people posting 100000000% gains. You get greedy so when some random guy on Twitter tells you that X coin will flip eth you drop your whole bag in. Then either 2 things happen. A) Coin gets rugged you sad. B) Coin goes up! Your in the green but instead of selling you and others start shilling the coin everywhere hoping to pump more! You get stuck in an echo chamber. Fuel ends and you're holding the bag. You are sad.
The difference between meme coins and other coins is well other coins have actual use cases. You buy other coins, yes because you think you can sell it for more but chances are you believe in the coins tech's future success so it will reach your desired price.
Meme coin = Pure hype
Other coins = You believe in the success of the tech
So TLDR: Every time you buy a meme coin, your hoping you can sell it to someone else for more. But chances are once you hear about the coin its already at or close to the peak. DYOR as always and always assume meme coins will go to 0. As the majority do.
#Meme #memecoins #ponzischeme #ponzi #dyor
The Thin Line Between Ponzi Schemes and Meme Tokens in the World of Cryptocurrency
Memes and cryptocurrency have both gained massive popularity in recent years, but while cryptocurrency has been viewed by many as a legitimate investment opportunity, memes are often seen as nothing more than a silly pastime. However, the rise of meme-based cryptocurrencies has challenged this perception and raised questions about the negative impact they may have on the broader adoption of cryptocurrency.
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
The world is currently ablaze with the meme token frenzy, and as these digital assets become increasingly popular, the line between legitimate investments and PONZI pyramid schemes is becoming increasingly thin.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
LIVEGergo Varhegyi
--
The Thin Line Between Ponzi Schemes and Meme Tokens in the World of Cryptocurrency
Memes and cryptocurrency have both gained massive popularity in recent years, but while cryptocurrency has been viewed by many as a legitimate investment opportunity, memes are often seen as nothing more than a silly pastime. However, the rise of meme-based cryptocurrencies has challenged this perception and raised questions about the negative impact they may have on the broader adoption of cryptocurrency.
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
Central Bank of Ireland governor warns unbacked crypto assets may be similar to "Ponzi schemes". Irish cryptocurrency consumers cautioned.
#Ireland #crypto2023 #ponzischeme #Regulation
https://blockchainreporter.net/central-bank-of-ireland-governor-warns-unbacked-crypto-assets-may-resemble-ponzi-schemes/
#Ireland #crypto2023 #ponzischeme #Regulation
https://blockchainreporter.net/central-bank-of-ireland-governor-warns-unbacked-crypto-assets-may-resemble-ponzi-schemes/
Austrian Supreme Court Certifies Lyoness Contracts illegal
The Austrian Supreme Court has ruled that Lyonessâ affiliate contract and compensation plan are illegal.The decision follows legal action taken by the Austrian Association for Consumer Information (VKI). In Austriaâs lower courts, VKI argued47 contractual clauses that were part of Lyconet agreements and so-called Lyconet compensation plans ⊠(lacked) transparent regulations and ⊠clarity.VKIâs lawsuit was decided in its favor. The Supreme Courtâs ruling reaffirms earlier rulings and is final.As per a January 11th press-release from VKI, specific Lyoness agreement clauses they took issue with were 3-2019, 9-2019 and 1-2021. Compensation clauses include 3-2019, 9-2019 and 1-2021.A large number of the contested clauses were found by the courts to be non-transparent. For example, terms such as âBonus Unitsâ, âCustomer Unitsâ, âFollow-up Unitsâ, âTransfer Unitsâ, âLifelineâ, âUplineâ, âBalance Programâ, âCareer Programâ, âBalance Categoryâ, and âBalance Commissionâ were used, but their specific meaning remained unclear.The first court already stated that these are not terms of general language use and that they are in themselves incomprehensible without further context.They are also not explained sufficiently clearly throughout Lyconetâs rules and regulations.The appeal court added that even after intensive study of the entire set of regulations, it remains completely unclear for average consumers when and to what extent they acquire rights to which remuneration.The Supreme Court has now confirmed this view.As per the Supreme Courtâs decision;Affected Lyconet contracts are invalid and consumers can demand a full refund of the payments they have made.Lyoness, aka Lyconet, Cashback World and myWorld, is owned and operated by Austrian national Hubert Freidl (below).Austrian courts previously finding Lyoness to be a pyramid scheme. A related January 11th article from ORF, the Austrian Broadcasting Corporation, cited âover 400 court casesâ in Austria alone.Despite this, Freidl is still a free man.Freidl had Lyoness declare bankruptcy in Europe last November. According to filings Lyoness is $110 million in debt. Whether this was a ploy to avoid paying out victims and/or evading criminal proceedings is unclear. Freidl abandoned his FaceBook profile in July 2023. November 2023 posts on Freidlâs Instagram page reveal attempts at marketing Lyoness across Asia, specifically Malaysia.#CryptoScamAwareness #Lyoness #Lyconet #ponzischeme #CryptoScamExposed
JP Morgan CEO reiterated his stance that Bitcoin is âa fraud.â
âIf you mean crypto like Bitcoin, Iâve always said itâs a fraud,â Dimon told Bloombergâs Emily Chang, adding that there is no hope for it as a currency.
He also called Bitcoin a âpublic decentralized Ponzi scheme,â but conceded that blockchain and smart contracts have value.
âIf it's a crypto coin that can do something like a smart contract that has value, there will be smart contracts and blockchain works,â Dimon said. âTo the extent crypto is accessing certain blockchain things, that might have some value.â
#bitcoinhalving #JPmorganAnalysis #ponzischeme #BitcoinHodlers #write2earnđ $BTC
âIf you mean crypto like Bitcoin, Iâve always said itâs a fraud,â Dimon told Bloombergâs Emily Chang, adding that there is no hope for it as a currency.
He also called Bitcoin a âpublic decentralized Ponzi scheme,â but conceded that blockchain and smart contracts have value.
âIf it's a crypto coin that can do something like a smart contract that has value, there will be smart contracts and blockchain works,â Dimon said. âTo the extent crypto is accessing certain blockchain things, that might have some value.â
#bitcoinhalving #JPmorganAnalysis #ponzischeme #BitcoinHodlers #write2earnđ $BTC
The world is currently ablaze with the meme token frenzy, and as these digital assets become increasingly popular, the line between legitimate investments and PONZI pyramid schemes is becoming increasingly thin.
#cryptocurrency
 #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
#cryptocurrency
 #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
LIVEGergo Varhegyi
--
The Thin Line Between Ponzi Schemes and Meme Tokens in the World of Cryptocurrency
Memes and cryptocurrency have both gained massive popularity in recent years, but while cryptocurrency has been viewed by many as a legitimate investment opportunity, memes are often seen as nothing more than a silly pastime. However, the rise of meme-based cryptocurrencies has challenged this perception and raised questions about the negative impact they may have on the broader adoption of cryptocurrency.
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
See original
Chinese authorities crack down on $280 million cryptocurrency Ponzi scheme. đšđłđźđ»ââïž
In a major breakthrough, the Yuanbao Branch of the Domestic Security Bureau in Chifeng City, Inner Mongolia, China, successfully dismantled a major cryptocurrency Ponzi scheme. Operating from Beijing, the undisclosed platform used sophisticated organizational structures and innovative marketing tactics, raising suspicions of criminal activity involving cryptocurrencies.
With operations spanning 13 provinces and cities, the platform had over 18,000 registered members. The total transaction flow exceeded 2 billion yuan ($280 million), revealing the scale of illicit activities. The main objective of the project was a classic Ponzi structure.
Chinese law enforcement quickly responded, arresting 30 suspects associated with the cryptocurrency platform. In addition, they froze nearly 10 million yuan related to this case. Investigations are ongoing, and two main suspects have voluntarily surrendered to authorities.
This case takes place against the backdrop of China's current ban on cryptocurrency assets. Despite the ban, the allure of virtual assets persists, leading many Chinese citizens to access crypto platforms via VPNs.
The crackdown on this major Ponzi scheme highlights the authorities' commitment to combating illegal activity in the cryptocurrency space. As the investigation unfolds, it is a stark reminder of the challenges posed by the intersection of financial technology and criminal enterprises.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
In a major breakthrough, the Yuanbao Branch of the Domestic Security Bureau in Chifeng City, Inner Mongolia, China, successfully dismantled a major cryptocurrency Ponzi scheme. Operating from Beijing, the undisclosed platform used sophisticated organizational structures and innovative marketing tactics, raising suspicions of criminal activity involving cryptocurrencies.
With operations spanning 13 provinces and cities, the platform had over 18,000 registered members. The total transaction flow exceeded 2 billion yuan ($280 million), revealing the scale of illicit activities. The main objective of the project was a classic Ponzi structure.
Chinese law enforcement quickly responded, arresting 30 suspects associated with the cryptocurrency platform. In addition, they froze nearly 10 million yuan related to this case. Investigations are ongoing, and two main suspects have voluntarily surrendered to authorities.
This case takes place against the backdrop of China's current ban on cryptocurrency assets. Despite the ban, the allure of virtual assets persists, leading many Chinese citizens to access crypto platforms via VPNs.
The crackdown on this major Ponzi scheme highlights the authorities' commitment to combating illegal activity in the cryptocurrency space. As the investigation unfolds, it is a stark reminder of the challenges posed by the intersection of financial technology and criminal enterprises.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
OmegaPro.IN Review: Same Name, Different Ponzi Scheme;
OmegaPro.IN, not to be confused with the notorious Dubai-based OmegaPro Ponzi, fails to provide ownership or executive information on its website.
OmegaPro.INâs website domain (âomegapro. inâ), was privately registered on May 11th, 2023.
In the footer of its website, OmegaPro.IN provides a PO Box address in St. Vincent and the Grenadines. For what should be obvious reasons, this is meaningless.
Further attempts to appear legitimate by OmegaPro.IN include: a Polish shell company certificate (this is backdated to 2020 and appears to be doctored). an insurance document provided by Renaissance Insurance (this is backdated to 2015 and is obviously doctored) and a UK shell company certificate for Omega-Pro LTD.
Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.
Furthermore, OmegaPro.IN markets itself as an MLM cryptocurrency investment scheme. The UKâs FCA outright banned MLM cryptocurrency investment schemes on October 8th, 2023.
Further to OmegaPro.INâs regulatory problems, Franceâs AMF added OmegaPro.IN to its investment blacklist on December 5th, 2023.
OmegaPro.IN Conclusion:
OmegaPro.IN appears to be an attempt to cash in the collapsed OmegaPro Ponzi scheme. With OmegaPro suspected of being a multi-billion dollar Ponzi and its owners in hiding pending arrest, itâs unlikely they have anything to do with OmegaPro.IN.
This is opportunistic scammers at work, hoping to make a quick buck.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
#ponzischeme #mlm #omengapro #OmegaNetwork
OmegaPro.IN, not to be confused with the notorious Dubai-based OmegaPro Ponzi, fails to provide ownership or executive information on its website.
OmegaPro.INâs website domain (âomegapro. inâ), was privately registered on May 11th, 2023.
In the footer of its website, OmegaPro.IN provides a PO Box address in St. Vincent and the Grenadines. For what should be obvious reasons, this is meaningless.
Further attempts to appear legitimate by OmegaPro.IN include: a Polish shell company certificate (this is backdated to 2020 and appears to be doctored). an insurance document provided by Renaissance Insurance (this is backdated to 2015 and is obviously doctored) and a UK shell company certificate for Omega-Pro LTD.
Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.
Furthermore, OmegaPro.IN markets itself as an MLM cryptocurrency investment scheme. The UKâs FCA outright banned MLM cryptocurrency investment schemes on October 8th, 2023.
Further to OmegaPro.INâs regulatory problems, Franceâs AMF added OmegaPro.IN to its investment blacklist on December 5th, 2023.
OmegaPro.IN Conclusion:
OmegaPro.IN appears to be an attempt to cash in the collapsed OmegaPro Ponzi scheme. With OmegaPro suspected of being a multi-billion dollar Ponzi and its owners in hiding pending arrest, itâs unlikely they have anything to do with OmegaPro.IN.
This is opportunistic scammers at work, hoping to make a quick buck.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
#ponzischeme #mlm #omengapro #OmegaNetwork
Title: know your #scam
Navigating the Crypto Landscape: Beware of Scams on Binance and Beyond
Cryptocurrencies have gained immense popularity, offering new and exciting opportunities for investors. However, with the rise in popularity comes an increase in scams and fraudulent activities. Binance, being a leading cryptocurrency exchange, is not immune to these challenges. Let's explore some common scams, misleading information, and ways to protect yourself in the ever-evolving world of crypto.
1. #PhishingScams :
Phishing remains a prevalent threat in the crypto space. Scammers often create fake websites that mimic legitimate platforms like Binance to trick users into providing their login credentials. Always double-check the website's URL and enable two-factor authentication (2FA) to enhance security.
2. Impersonation and Social Engineering:
Scammers may impersonate Binance support or influential figures in the crypto community, reaching out to users through social media or email. Be cautious of unsolicited messages and always verify the identity of the person or entity before sharing sensitive information.
3. #pumpanddump Schemes:
In pump and dump schemes, organizers artificially inflate the price of a cryptocurrency through false or misleading information, only to sell off their holdings at the peak, leaving other investors with losses. Exercise caution and thoroughly research any investment opportunities.
4. Fake #ICOSCAM and Token Sales:
Some scammers create fake Initial Coin Offerings (ICOs) or token sales, enticing investors with promises of high returns. Always research the legitimacy of a project, review the whitepaper, and verify the credentials of the team behind it.
5. #ponzischeme :
Ponzi schemes promise high returns to initial investors using the capital from new investors. These schemes are unsustainable and often collapse, resulting in significant losses. Be wary of investment opportunities that seem too good to be true.
Navigating the Crypto Landscape: Beware of Scams on Binance and Beyond
Cryptocurrencies have gained immense popularity, offering new and exciting opportunities for investors. However, with the rise in popularity comes an increase in scams and fraudulent activities. Binance, being a leading cryptocurrency exchange, is not immune to these challenges. Let's explore some common scams, misleading information, and ways to protect yourself in the ever-evolving world of crypto.
1. #PhishingScams :
Phishing remains a prevalent threat in the crypto space. Scammers often create fake websites that mimic legitimate platforms like Binance to trick users into providing their login credentials. Always double-check the website's URL and enable two-factor authentication (2FA) to enhance security.
2. Impersonation and Social Engineering:
Scammers may impersonate Binance support or influential figures in the crypto community, reaching out to users through social media or email. Be cautious of unsolicited messages and always verify the identity of the person or entity before sharing sensitive information.
3. #pumpanddump Schemes:
In pump and dump schemes, organizers artificially inflate the price of a cryptocurrency through false or misleading information, only to sell off their holdings at the peak, leaving other investors with losses. Exercise caution and thoroughly research any investment opportunities.
4. Fake #ICOSCAM and Token Sales:
Some scammers create fake Initial Coin Offerings (ICOs) or token sales, enticing investors with promises of high returns. Always research the legitimacy of a project, review the whitepaper, and verify the credentials of the team behind it.
5. #ponzischeme :
Ponzi schemes promise high returns to initial investors using the capital from new investors. These schemes are unsustainable and often collapse, resulting in significant losses. Be wary of investment opportunities that seem too good to be true.
Painful Story:This Was My First Ponzi Scheme To Join
I didn't know what Cryptocurrency is, no one taught me, just received the link from my friend known
...
as ( I put the name confidential due to privacy)
He told me many things that when I invest $100 I will be getting interest of 2% which is equivalent to $2 daily. In short, I didn't know anything, he continues telling me, when you invite other people you will also get 10% for each person you invite if he/she deposits $100 means you will get $10 which is a 10% for his/her investment of $100 respectively, then if he/she deposits $1000 for the first time means you will get again $100 as 10% from his/her investment.
How were we depositing money?
We were depositing money by first buying Bitcoin at that time we were buying Bitcoins at Localbitcoins. So if you want to invest $1000 you were supposed to buy at Localbitcoins and deposit into btcbrace which gave us a registered company in the UK as seen below đ
So at that time seeing the above certificate was like proof that was a legit company therefore we continued to believe and put more of our money into it.
Also, we asked many questions, one the question was: How the company is profitable if every day giving people 2% for their investments? The answer was as follows
We do Bitcoin mining
We trade forex
We dump &
Pumping Bitcoin ( look at here the way we were ignorant because they look like something big for our lives very very funny đ€Ł)
These are the main income where we get profits to share with investors. đ (Very crazy tricks to trap prey. So that was their answer đ€Ł)
Below were the criteria followed for how to benefit from the btcbrace Ponzi Scheme company:
"NEW NEW NEW OPPORTUNITY Hey Double Your Money & Bitcoin With
Best Trading Investment Company Ever!
BTC Race is the first global Bitcoin Trading Contract platform for
individuals and businesses. We are also doing Pumping & Dumping In
Cryptocurrency.
Start with a Minimum Investment of $ 20
You will earn Daily, After the Joining
All PACKAGE: -
đđ» MINI PACKAGE - FROM đČ20 TO đČ5000 (MULTIPLE OF 10)
2% Daily Revenue Sharing - Upto 100 Days
đđ» PREMIUM PACKAGE - FROM đČ 5000 TO đČ 10000 (MULTIPLE OF 10)
2.5% Daily Revenue Sharing - Upto 80 days
đđ» SUPREME PACKAGE -FROM đČ 10000 AND ABOVE (MULTIPLE OF 10)
3% Daily Revenue Sharing - Upto 67 days
Other Benefits: -
đ Matching Bonus (Binary) - 10 %
đ đ„ đ„ đ„ đ„ đ Special Bonus Benefit đ đ„ đ„ đ„ đ„ đ
đđ» Whenever We Get Profit By Pumping In Any Coin The Investors Will Get"
From the above italic words, you should know that I'm not promoting just to show you how Ponzi schemes use many tricks for aim running away with people's money
Therefore above is the way how we had been scammed by this Ponzi Scheme. Many Ponzi Schemes have the same characteristics as above. So make sure you teach your close how not involved into Ponzi Schemes Platforms!
What I learned from there?
I learned many things because after being scammed I started to do my research on why we used Bitcoin to deposit into Ponzi Scheme, so I started learning the characteristics of Bitcoin how was it invented, and what was the main reason it was invented. These were the questions that led me in the right direction until I joined Binance Exchange in the Earl year of 2020.
I continued to read Bitcoin whitepaper and started to know more about the secret of Bitcoin and other technologies behind Bitcoin like Cryptography, Blockchain technology, the evolution of money, the evolution of the web and so many things like nowadays Web 3.0, Metaverse, Non-Fungible Token (NFT) which now available on Binance NFT marketplace where you can buy and sell your artwork.
I have many things to tell about my Crypto Journey but today let's end up here, the thing you should understand cryptocurrency is real you better start learning its advantages and disadvantages, especially using Binance Academy where you can learn many things about Blockchain technology, Cryptocurrency, Metaverse, Web 3.0, NFT
The big thing here is to learn everybody has his/her Crypto Journey story other started first by joining Ponzi Scheme while others started with a real Crypto Journey Using Binance.
Question: Which Ponzi Scheme did you join the first time before knowing the reality of Cryptocurrencies?
#BTC #ponzischeme
...
as ( I put the name confidential due to privacy)
He told me many things that when I invest $100 I will be getting interest of 2% which is equivalent to $2 daily. In short, I didn't know anything, he continues telling me, when you invite other people you will also get 10% for each person you invite if he/she deposits $100 means you will get $10 which is a 10% for his/her investment of $100 respectively, then if he/she deposits $1000 for the first time means you will get again $100 as 10% from his/her investment.
How were we depositing money?
We were depositing money by first buying Bitcoin at that time we were buying Bitcoins at Localbitcoins. So if you want to invest $1000 you were supposed to buy at Localbitcoins and deposit into btcbrace which gave us a registered company in the UK as seen below đ
So at that time seeing the above certificate was like proof that was a legit company therefore we continued to believe and put more of our money into it.
Also, we asked many questions, one the question was: How the company is profitable if every day giving people 2% for their investments? The answer was as follows
We do Bitcoin mining
We trade forex
We dump &
Pumping Bitcoin ( look at here the way we were ignorant because they look like something big for our lives very very funny đ€Ł)
These are the main income where we get profits to share with investors. đ (Very crazy tricks to trap prey. So that was their answer đ€Ł)
Below were the criteria followed for how to benefit from the btcbrace Ponzi Scheme company:
"NEW NEW NEW OPPORTUNITY Hey Double Your Money & Bitcoin With
Best Trading Investment Company Ever!
BTC Race is the first global Bitcoin Trading Contract platform for
individuals and businesses. We are also doing Pumping & Dumping In
Cryptocurrency.
Start with a Minimum Investment of $ 20
You will earn Daily, After the Joining
All PACKAGE: -
đđ» MINI PACKAGE - FROM đČ20 TO đČ5000 (MULTIPLE OF 10)
2% Daily Revenue Sharing - Upto 100 Days
đđ» PREMIUM PACKAGE - FROM đČ 5000 TO đČ 10000 (MULTIPLE OF 10)
2.5% Daily Revenue Sharing - Upto 80 days
đđ» SUPREME PACKAGE -FROM đČ 10000 AND ABOVE (MULTIPLE OF 10)
3% Daily Revenue Sharing - Upto 67 days
Other Benefits: -
đ Matching Bonus (Binary) - 10 %
đ đ„ đ„ đ„ đ„ đ Special Bonus Benefit đ đ„ đ„ đ„ đ„ đ
đđ» Whenever We Get Profit By Pumping In Any Coin The Investors Will Get"
From the above italic words, you should know that I'm not promoting just to show you how Ponzi schemes use many tricks for aim running away with people's money
Therefore above is the way how we had been scammed by this Ponzi Scheme. Many Ponzi Schemes have the same characteristics as above. So make sure you teach your close how not involved into Ponzi Schemes Platforms!
What I learned from there?
I learned many things because after being scammed I started to do my research on why we used Bitcoin to deposit into Ponzi Scheme, so I started learning the characteristics of Bitcoin how was it invented, and what was the main reason it was invented. These were the questions that led me in the right direction until I joined Binance Exchange in the Earl year of 2020.
I continued to read Bitcoin whitepaper and started to know more about the secret of Bitcoin and other technologies behind Bitcoin like Cryptography, Blockchain technology, the evolution of money, the evolution of the web and so many things like nowadays Web 3.0, Metaverse, Non-Fungible Token (NFT) which now available on Binance NFT marketplace where you can buy and sell your artwork.
I have many things to tell about my Crypto Journey but today let's end up here, the thing you should understand cryptocurrency is real you better start learning its advantages and disadvantages, especially using Binance Academy where you can learn many things about Blockchain technology, Cryptocurrency, Metaverse, Web 3.0, NFT
The big thing here is to learn everybody has his/her Crypto Journey story other started first by joining Ponzi Scheme while others started with a real Crypto Journey Using Binance.
Question: Which Ponzi Scheme did you join the first time before knowing the reality of Cryptocurrencies?
#BTC #ponzischeme
What is a Ponzi scheme?
Ponzi schemes are named after Charles Ponzi, an Italian swindler who, in the early 1920s, defrauded hundreds of victims with his deceptive money-making system that ran for over a year. In essence, a Ponzi scheme is a fraudulent investment scam where returns to existing investors are paid from funds contributed by new investors. The flaw lies in the fact that investors in the latter stages may never receive any returns.
The operation of a Ponzi scheme typically follows these steps:
A promoter takes $1000 from an investor, promising to repay the initial amount plus a 10% interest at the end of a set period (e.g., 90 days).The promoter secures two more investors before the 90-day period elapses, using their $2000 to pay the first investor $1100. The first investor is often encouraged to reinvest the initial $1000.By recruiting new investors, the fraudster can fulfill the promised returns to earlier investors, urging them to reinvest and bring in more participants.As the scheme expands, the promoter must continuously attract new investors to sustain it and meet the promised returns.Ultimately, the scheme becomes unsustainable, leading to the promoter's exposure or disappearance with the accumulated funds.
#webgtr #BTC #etf #ARB #ponzischeme
The operation of a Ponzi scheme typically follows these steps:
A promoter takes $1000 from an investor, promising to repay the initial amount plus a 10% interest at the end of a set period (e.g., 90 days).The promoter secures two more investors before the 90-day period elapses, using their $2000 to pay the first investor $1100. The first investor is often encouraged to reinvest the initial $1000.By recruiting new investors, the fraudster can fulfill the promised returns to earlier investors, urging them to reinvest and bring in more participants.As the scheme expands, the promoter must continuously attract new investors to sustain it and meet the promised returns.Ultimately, the scheme becomes unsustainable, leading to the promoter's exposure or disappearance with the accumulated funds.
#webgtr #BTC #etf #ARB #ponzischeme
#varhegyigergo #ponzischeme #crypto2023 #followme #read
Ponzi = Meme / Nft???
đ€·đœââïžđ€·đœââïžđ€·đœââïžđ€·đœââïž
Ponzi = Meme / Nft???
đ€·đœââïžđ€·đœââïžđ€·đœââïžđ€·đœââïž
LIVEGergo Varhegyi
--
The Thin Line Between Ponzi Schemes and Meme Tokens in the World of Cryptocurrency
Memes and cryptocurrency have both gained massive popularity in recent years, but while cryptocurrency has been viewed by many as a legitimate investment opportunity, memes are often seen as nothing more than a silly pastime. However, the rise of meme-based cryptocurrencies has challenged this perception and raised questions about the negative impact they may have on the broader adoption of cryptocurrency.
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
ï»ż
First, it's important to understand what a meme-based cryptocurrency is. These are cryptocurrencies that are based on popular internet memes or jokes. The most famous of these is Dogecoin, which was created in 2013 as a joke but has since gained a cult following and a market capitalization of over $60 billion. Other meme-based cryptocurrencies include Shiba Inu, SafeMoon, and ElonGate.
So why have meme-based cryptocurrencies become so popular? One reason is that they tap into the cultural zeitgeist and the popularity of memes in modern internet culture. They also appeal to a younger demographic who may be more interested in investing in something that feels fun and relatable rather than a more serious investment opportunity.
However, there are several reasons why meme-based cryptocurrencies are viewed negatively in the broader context of cryptocurrency. For one, they are often seen as a distraction from more legitimate cryptocurrencies and investment opportunities. The fact that they are based on memes rather than real-world use cases or technology innovations means that their long-term value is questionable at best.
Furthermore, the hype around meme-based cryptocurrencies has led to a proliferation of fraudulent and scam projects that prey on inexperienced investors. Many of these projects use the same tactics as Ponzi schemes, where early investors are paid off with the investments of later investors. When the hype dies down, the value of these projects often collapses, leaving many investors with significant losses.
The negative impact of meme-based cryptocurrencies on the broader adoption of cryptocurrency is also a concern. By perpetuating the idea that cryptocurrency is a joke or a scam, they may discourage serious investors and businesses from getting involved in the space. This could slow down the development and adoption of legitimate cryptocurrency projects that have the potential to make a real impact on the economy and society.
In conclusion, while meme-based cryptocurrencies may be fun and appealing to a younger demographic, they are often viewed as a negative development in the broader context of cryptocurrency. Their lack of real-world use cases and long-term value, as well as the proliferation of fraudulent projects, may ultimately harm the credibility and legitimacy of the entire cryptocurrency space.
Moreover, the volatile nature of meme-based cryptocurrencies and their susceptibility to market manipulation pose significant risks to investors. The value of these cryptocurrencies can fluctuate wildly based on social media trends and online hype, making them incredibly unpredictable. This can lead to inexperienced investors making impulsive decisions based on FOMO (fear of missing out) and ultimately suffering significant financial losses.
Additionally, the lack of regulation in the cryptocurrency space exacerbates these risks. Unlike traditional investment opportunities, cryptocurrencies are not subject to the same level of oversight and regulation by government agencies. This leaves investors vulnerable to scams and fraud, with little recourse for recovering lost funds.
Despite these concerns, meme-based cryptocurrencies continue to attract a large following and generate significant media attention. The recent surge in popularity of NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain networks, has only added to the hype surrounding these types of investments.
It's important to remember that while meme-based cryptocurrencies may seem like a fun and easy way to make a quick profit, they come with significant risks and should be approached with caution. Serious investors should focus on legitimate cryptocurrencies that have real-world use cases and are backed by reputable companies and developers.
Ultimately, the long-term success of cryptocurrency as a legitimate investment opportunity will depend on the development of innovative technologies and use cases that can drive real-world adoption and value. While meme-based cryptocurrencies may have a place in the broader cryptocurrency ecosystem, they should not be viewed as a substitute for legitimate investment opportunities.
#cryptocurrency #memetokens
#ponzischeme
#varhegyigergo
#crypto2023
EvoRichâs Andrey Khovratov Sentenced to 5years In Prison
Evorich Ponzi founder Andrey Khovratov has been sentenced to five years in prison. Prosecutors had asked the court for a six year sentence.Following his arrest attempting to flee Russia in early 2022, Khovratov was charged with five counts of participating in fraud via organized crime.As per a January 23rd press-release from the Presnesnky Prosecutorâs Office, the Moscow court based Khovratovâs guilty verdict on EvoRich being a Ponzi scheme. Khovratov, being the general director of Academy of Private Investor LLC, together with an accomplice who is on the wanted list and other unidentified persons, created a website accessible to an unlimited number of people, informing that anyone can become a co-owner, shareholder, shareholder, shareholder of the global an investment fund operating in all segments and sectors of the investment market.The accomplices misled users of the Internet resource by providing deliberately false information that the investments would make it possible to implement the program of the New Economic Evolution of the World, created by Khovratov, and to receive high investment income.In order to make a profit, the misled victims purchased cryptocurrency from the defendants, transferring funds to accounts controlled by them.The members of the organized group distributed the funds received from the victims among themselves, evading their obligations to pay dividend income from investing in cryptocurrency, as well as to return the funds.An unnamed accomplice of Khovratovâs remains wanted by Russian authorities.#Evorich #ponzischeme #mlm #pyramidscheme #CryptoScamExposed
Back from 2021,
I earned more than Rs 1,00,000 in a Single Day Trade with more than 100x to 700x Profit. â đ±
I want to share some screenshots of my earlier profit with pancake swap. But Now I dont even have $10 USDT in my Bank. All I was just Lost money in ponzi scheme.
#cryptonews #ponzischeme #profit #safemoon #BinanceSquare
I earned more than Rs 1,00,000 in a Single Day Trade with more than 100x to 700x Profit. â đ±
I want to share some screenshots of my earlier profit with pancake swap. But Now I dont even have $10 USDT in my Bank. All I was just Lost money in ponzi scheme.
#cryptonews #ponzischeme #profit #safemoon #BinanceSquare
Is a ponzi scheme a domino effect?
Incredible but true - a Ponzi scheme can be likened to a domino effect. Take care and only invest into projects you can trust. Always #DYOR
1. Early Investors Paid by New Investors: Early investors receive returns not from profit but from the investments of new participants.
2. Constant Need for New Investors: To maintain the appearance of profitability and continue paying returns, the scheme requires a continuous influx of new investors.
3. Inevitability of Collapse: When new investments slow down or stop, the scheme collapses because it can't fulfill the promised returns to earlier investors.
4. Chain Reaction of Losses: As soon as the inflow of new money stops, the lack of funds creates a domino effect where the scheme collapses rapidly, leading to significant losses for most participants.
This chain reaction, similar to a falling line of dominos, highlights the unsustainable nature of Ponzi schemes and the inevitable downfall when the recruitment of new investors halts.
#CryptoTradingGuide #MicroStrategy #ponzischeme
Incredible but true - a Ponzi scheme can be likened to a domino effect. Take care and only invest into projects you can trust. Always #DYOR
1. Early Investors Paid by New Investors: Early investors receive returns not from profit but from the investments of new participants.
2. Constant Need for New Investors: To maintain the appearance of profitability and continue paying returns, the scheme requires a continuous influx of new investors.
3. Inevitability of Collapse: When new investments slow down or stop, the scheme collapses because it can't fulfill the promised returns to earlier investors.
4. Chain Reaction of Losses: As soon as the inflow of new money stops, the lack of funds creates a domino effect where the scheme collapses rapidly, leading to significant losses for most participants.
This chain reaction, similar to a falling line of dominos, highlights the unsustainable nature of Ponzi schemes and the inevitable downfall when the recruitment of new investors halts.
#CryptoTradingGuide #MicroStrategy #ponzischeme
Emergency News: Plus Token Ponzi Scheme Alert đ°đšđ€âŒïž
đšđł China Moves $2B Ethereum Seized In Ponzi Scheme, Bitcoin & XRP Next? đ
On Wednesday, hundreds of wallets moved $2 billion Ethereum seized by Chinese police in 2021 after authorities cracked down on the Plus Token ponzi scheme.
#ponzischeme #Write2Earn! #KaleemsCryptoMehfilKCM #MarketDownturn #Megadrop
đšđł China Moves $2B Ethereum Seized In Ponzi Scheme, Bitcoin & XRP Next? đ
On Wednesday, hundreds of wallets moved $2 billion Ethereum seized by Chinese police in 2021 after authorities cracked down on the Plus Token ponzi scheme.
#ponzischeme #Write2Earn! #KaleemsCryptoMehfilKCM #MarketDownturn #Megadrop
#matic #polybox #ponzischeme
Not a financial advice.
Stay away from the pyramid ponzy scam called polyboxdotfinance
whoever is trying to convince you its legit. is simply because he want your referral percentage.
when you enter for free you gotta be on the website 20 days 24hours non stop to earn 0.6 matic. then youll be hooked like a mouse on a wheel and you'll chase for more and you'll start paying for higher tiers.
you gotta pay to earn. then you pay even more and even more.
look for pyramid schemes, ponzi schemes. and learn how it works. Cheers.
Scammers gotta be monitored on this plateform.
$BNB
Not a financial advice.
Stay away from the pyramid ponzy scam called polyboxdotfinance
whoever is trying to convince you its legit. is simply because he want your referral percentage.
when you enter for free you gotta be on the website 20 days 24hours non stop to earn 0.6 matic. then youll be hooked like a mouse on a wheel and you'll chase for more and you'll start paying for higher tiers.
you gotta pay to earn. then you pay even more and even more.
look for pyramid schemes, ponzi schemes. and learn how it works. Cheers.
Scammers gotta be monitored on this plateform.
$BNB