Every time there is a Bull knocking, people try to get other people to believe too much into something - too bad people still fall of for it. It's inevitable to see everybody being cautious in such times..
If we’re talking about a bull market, there’s nothing wrong with that. But when that bull market is used to push Ponzi scams, that’s where it becomes a problem. These scammers take advantage of hype during bull runs to promote their scams because they know people are excited to invest. And sadly, it’s usually the newbies who FOMO in and end up on the wrong side.
I guess the current situation might attract scammers again as we’re back to $100K, baby!
That kind of hype always brings the shady ones out. So we need to be extra careful, because this won’t be the last time we hear about scams. There are still Ponzi schemes out there and probably more being planned as we speak.
We have to clearly understand the difference between a legit investment like Bitcoin, and those sketchy offers that promise “too good to be true” rewards using Bitcoin as bait.
Those who have an experienced before will not scammed again IF they can calm down for a while and check the truth. But if they are greedy and want to make a quick profit, they will fall again in the scam.
Yes, I agree that we must be extra carful because the Ponzi schemes may look different than before. The scam method may also different so we should be careful deciding anything.
If we see an offers to invest in Bitcoin but using a program, we don't have to try because investing in Bitcoin means we keep our Bitcoin in our own wallet and not in other people wallets. So that should make you suspicious and not getting close to that.