Post
Topic
Board Beginners & Help
Re: Ponzi Scheme 101
by
TPS357
on 26/08/2024, 10:19:15 UTC
The mother of all crypto scams is bitconnect.  I can't believe that piece of garbage was once a top 10 coin.  A lot of suckers fell for the hype and got blinded by greed.
I remember this years ago that one of my friend ask all of us to join bitconnect including me, after several week he just stopped talking about it eventhough I keep asking for it. That's how I know cryptocurrency for the first time, by losing some amount of money first. That's a bit ashamed that I got scammed as my first experience in crypto, but that's also such a blessing that I knew about crypto because of that.
Ah, yeah, bitconnect, that was the most famous ponzi coin introduced in this space that got so many supporters and yet it takes years before it got taken down. The most hilarious and unforgettable of this coin is because of its memes of the promoters singing with this coin lmao.
Here, in my country there is one notorious so-called crypto Ponzi scheme, Pi network, what's hilarious about this is how people try to advertise it like some kind of multi-level marketing which attracting many boomers into their community who barely know about Bitcoin, let alone Crypto. Their community is growing in several areas in my country, to the point that they directly exchange their cars/motorcycle to 1 token of Pi network which they posted on Facebook, but I haven't hear about them anymore nowadays.