Quote from: TheUltraElite on January 22, 2019, 08:44:22 AM

Quote from: BitHodler on January 17, 2019, 10:59:24 PM

People need to get burned before they understand that cloud mining is wrong, some times even more than once. I'm glad that the amount of YouTubers shilling coins or platforms has decreased significantly last year.

As long as that wannabe get rich quick attitude remains more and more people will get burned. Same happens in the ICO scams and since there is no regulation of such assets there is the rampancy of such events.

Honestly, I've come to the conclusion that there's no way around the "get rich quick" nature of the market. Bitcoin is a nascent, experimental technology and there are many unknowns about its future success and adoption. This is doubly true for altcoin, crypto security and ICO markets, which are even riskier. So these markets are incredibly volatile as a result. The kind of upside volatility seen in crypto (where a 10x gain is considered small) is bound to attract speculators looking to get rich quick. It's just inevitable.

That's why I always draw comparisons among things like Pirate40's Bitcoin Savings & Trust and Havelock Investments and the ICO mania of 2017. These are the same cycles of human greed playing out over and over. They're not going to end until many years or decades from now, when crypto is no longer seen as risky or speculative.