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rainbowlemon
VIP Member
Looks like a Ponzi scheme based on the returns alone.
Trust no one is a new documentary on Netflix about Canada's largest Crypto exchange QuadrigaCX.
Trust no one is a new documentary on Netflix about Canada's largest Crypto exchange QuadrigaCX.
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heretoreaditall2019
VIP Member
Yeah, there’s a Reddit exposé about the whole thing somewhere that explains that the big FX accounts are basically MLM bros, they make all their money through referral fees rather than anything to do with actual trading.
StrawberryCream
VIP Member
Crypto fud always comes out when the market is doing well.
Violeteyes89
Member
I dated someone who fell for a crypto / Bitcoin scammer on Instagram and “invested” £500 through them. Tbh it was more his own fault, when he showed me the Instagram page belonging to the investor, it was so obvious that all the photos had been stolen and it was a fake profile. I was shocked that this person was dumb enough to send a stranger £500 through Instagram and expect it to be a legit investment! I ended things soon after!
heretoreaditall2019
VIP Member
Twice in two days now I’ve seen the victims of these crimes coming forward to papers - it feels this could be the beginning of the back lash against it?
The other article was on Katie Price. Who else have you seen do it / any cringe examples / do you know any victims?
The other article was on Katie Price. Who else have you seen do it / any cringe examples / do you know any victims?
heretoreaditall2019
VIP Member
These guys are making money through signup fees so it is a MLM sort of structure, say I recruit you then you recruit a sister I make 10% off your recruitment, and maybe 2% off your sister’s. That’s how most of the big-on-Instagram accounts are. Needless to say I’m not talking about the actual crypto advocates/educators wrt scams
katiesmith81
VIP Member
Not myself, though from the AD when someone is promising hundreds into thousands, should to anyone I would have thought knowledgeable (though I doubt they were) about investments would set off major red flags. They key word is promising (no one can do that, its like saying apps can get you loads of money, its nearly always a load of bs).
Typically with those (especially older people) they'll keep asking for more to get returns, until realising its a blatant scam then they'll have lost it all. Reason being is its entirely unregulated, even with a reputable company in the UK can't remember the regulatory body, but they won't go near it due to it being as I said unregulated entirely (one of them being Paypal).
Reason for this might be happening I have this hunch that it's dropped in value a heck of a lot over the last 12 months, I'd assume for pretty obvious reasons.
This lads videos are quite funny at times Mike Winnet (contrabingo videos being one of them lol, con artist-entrepreneur, people in a way scamming people by getting them to go to these events just to babble how people can boost their sales etc, but in reality its always a load of s**t). Did a video on this posts same thing