That's how things go unfortunately. It's the same with cloud mining, where so many members here warn newbies about the risks and how it's NOT profitable, yet they invest in cloud mining anyway.
The newbies fall for the confidence scam that these projects employ. They target the niche of new coiners and promote their project for huge gains. Its sad that the name of crypto is being smeared by such scum.
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.
The bear market made a lot of them delete their content and leave YouTube. I remember having read an article last year where the SEC would do more to combat them, which I very much welcome.
Agreed. The bear market had a good effect that such low-lifes took down their content but it will not be of anything good for those who lost money. As older members of this forum we must preach about the right and wrong to stop new members from falling prey of such scams.