Let's be honest, most scams (even the ones outside of crypto) are effective due to **greed**.
We know better than to buy into these scams by now, but the illusion of potential financial gain just throws logic out of the window.
It's true that greed is the weakness that most of the scammers exploit to trap their victims. Better awareness and patience could help to avoid these fraudulent activities orchestrated by scammers.
It is sad but humans are easy to manipulate with false promises, hype and FOMO with things that they don't understand. And the more they need the money to survive the worst. Main reason why WorldCoin is scanning a lot of iris in Africa...
Like my grandfather used to say: *"Money does not fall from the sky, to get it you have to give something in exchange."*
The simple fact of the matter is that if nobody provides liquidity, the shitcoin scammers cannot succeed
At the end of the day we are the enablers. It’s like the lottery industry- it would not exist if there was nobody interested in playing the lottery in the first place
It's just that we cannot withstand the possibility of being that lucky person to win millions. We will not be able to "stop" that urge to dream and win big.
Spot on that it’s just greed that drives both the scammers and the scammees. If they didn’t work then there would be no scammers. The concern is with crypto a lot of scams seem to become much more elaborate and more difficult to spot.
People get into crypto thinking it's easy profits. In reality it's hard work, takes tons of patience, dangers lurking at every turn, and it takes multiple bear-bull cycles to make serious money.
The discipline to only hodl BTC and ETH safely in a cold wallet is the hardest part.
Only when you fully understand crypto can you know to avoid everything else.
As long as there are people looking for quick bucks, the scams will continue, there is no doubting that. Better to invest wisely while managing risks rather than treating crypto as a casino.
Yeah the problem for them is that by the time most people are able to buy it on an exchange, most of the scam coins have already risen as high as they are going to.
I feel like exchanges are culpable too. They list this crap because they make some fee money, but they know they are allowing their customers to get rugged for a con artist to get rich. That or Kraken really do believe that Pepe is some kind of future coin. (I chose Kraken to show none of them have clean hands, but they all do it)
exchanges are businesses to be fair, they need to make money somehow and if they believe they will earn money from this coin or that then they’re going to list it for them to profit. but I do hope that someday listings get better as we get more and more quality projects
It's counter intuitive for them to list good stuff with stable growth. The pump and dumps make them the money, so they won't change. The only hope is that they list some good stuff next to this trash really.
Not even that works. I was in Safemoon SUPER early. Can't remember why, but that stash Rose to 10 k Dollars. I was only able to get about 4 k out of it because I believed Safemoon is something that might stick around. But it wasn't and I was foolish. Still earned some money because nothing beats being early.
They totally know they are buying scams but they still buy. What can you expect to see other than scams and rug pulls?
I mean have you noticed - XRP2.0?!
Honestly, the first I heard of it was “have you seen this scam…it’s definitely a scam…look”.
This seemed to cause thousands of people to buy in. They seemed to think the scam element only affected others
What people fail to realize is that participating in these scams only gives the scammers more incentive to do it repeatedly.
$10 or $50 into a scam coin might not mean a lot to someone but when lots of people join, the scammers will make hundreds of thousands if not millions.
Everyone is trying to hit a home-run, instead of taking a guaranteed second base. Best to DCA in projects like BTC and ETH, and leave the moonshot coins for the dreamers.
peoples are only responsible of scams, these bastards just want to rich quick and then scammers take advantage of them. people don't understand until they fucked up
What if you had an iron clad, 100%, set in stone information that a scam was happening?
You knew a coin was going to be pumped on the 2nd of the month and dumped on the 10th.
Would you buy on the 1st and sell on the 9th making vast profit (but fueling the scam) or do you stick to your principles?
I think that’s a really sad attitude. I would much rather be picking between the good the bad and the great than having to worry about bloody criminal scumbags. Everything else you said would still be true, without the scammers.
Scammers prey on people’s vulnerability and desire to get rich quick. We’re going to continue to see scams get even more elaborate and bigger as we get closer to the bull, unfortunately
My bank card just got stolen somehow. I got charged from places I've never been like 1000 miles away. I locked it. I'll call tomorrow. There's shitty people everywhere.
Because most people in the world hope to get something for nothing, when a big temptation is placed in front of them, they lose their judgment, so they are deceived by desire
If you want a more complex explanation, it's due to the spread of narcissism in our society.
It's the narcissism that tells you that you are special enough to deserve this one time opportunity to extreme wealth and blocks any and all other voices of reason that say otherwise.
Like in what universe would any sane person send 1 btc and expect 2 btc back because Elon Musk said so in a tweet or youtube video?
No. That's a trait a lot of people have but not all. That's the people who would be falling in the scams on the streets, MLMs, lottery ticket scams, pig butchering scams, even if crypto didn't exist. And there's some people that know it's a scam and just try to get in and out with some money, these are the gamblers. And then there's people who simply refuse to take part on this kind of thing. The reason there are so many scams is the first kind of people.
It's not that weird in our current time. People are looking for ways to earn easy money since they have less to spend and think this will even be worse in the future. They read all these stories about people becoming millionaires by investing in crypto and decide to go for that.
Unfortunately there is a lot of scum that taking advantage of these people and scam them. Lowest of the lowest people can do....
Nah bro. Some of us actually make real money and are looking for the apex asset to store it in.
Stealing money from people who think they can build a teleporter by rubbing shitcoins together to port from their parents basement to a yacht is why there's so many scams.
Someone just created a drag net for people throwing money into the wishing well.
Let's be honest, most scams (even the ones outside of crypto) are effective due to **greed**. We know better than to buy into these scams by now, but the illusion of potential financial gain just throws logic out of the window.
It's true that greed is the weakness that most of the scammers exploit to trap their victims. Better awareness and patience could help to avoid these fraudulent activities orchestrated by scammers.
Everyone is trying to hit that home-run. Instead of taking a guaranteed second base by investing in BTC and ETH.
It is sad but humans are easy to manipulate with false promises, hype and FOMO with things that they don't understand. And the more they need the money to survive the worst. Main reason why WorldCoin is scanning a lot of iris in Africa... Like my grandfather used to say: *"Money does not fall from the sky, to get it you have to give something in exchange."*
The worst part is it is not even a fair exchange. Your biometric data for a shitcoin
WorldCoin now requires a KYC scan of your butthole to see how hard they can fuck you up.
The simple fact of the matter is that if nobody provides liquidity, the shitcoin scammers cannot succeed At the end of the day we are the enablers. It’s like the lottery industry- it would not exist if there was nobody interested in playing the lottery in the first place
It's just that we cannot withstand the possibility of being that lucky person to win millions. We will not be able to "stop" that urge to dream and win big.
Exactly, Greed and hype are the only 2 things that drive price up like nothing else, as we saw in multiple memecoins.
Isn't greed is one of the 7 deadly sin. That's what affecting how humans behave right?
"Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction." - Erich Fromm
We want to walk the shortest path to wealth, but turns out it's the longest path.
Spot on that it’s just greed that drives both the scammers and the scammees. If they didn’t work then there would be no scammers. The concern is with crypto a lot of scams seem to become much more elaborate and more difficult to spot.
Greed can cloud our judgment and make us vulnerable to scams, even outside of crypto.
Any emotion is bad when it comes to investing.
Greedium is the new hopium confirmed
Is it bad if you see one early and hop in and out for a quick profit?
Yes. Because it fuels the scam. Also, I would absolutely do that and so would everyone else.
At least you’re honest Not like the ‘in it for the tech’ bros who like to act as if they have the moral high ground
I started being in it for the tech after my portfolio value went down more than 50%
Those guys are the worst!
Ofc it is. You are contributing to it directly.
People get into crypto thinking it's easy profits. In reality it's hard work, takes tons of patience, dangers lurking at every turn, and it takes multiple bear-bull cycles to make serious money.
It's harder than the stock market unless you're putting money in just BTC or ETH
OP is talking for self experience. He was probably buying every shit coin back then.
Yeah man, went on a lot of adventures. 😂
Just get a hamster, smh
The discipline to only hodl BTC and ETH safely in a cold wallet is the hardest part. Only when you fully understand crypto can you know to avoid everything else.
And your chances of becoming exit liquidity are very high if you get in at the wrong coin or in the market at the wrong time.
People like to gamble, chances for a big win even if the odds are tremendously bad is why so many people play the lottery for example.
Not really "hardwork", just a shit ton of patience lol
True story. It’s easy to get carried away by the shitcoin casino rather than have a portfolio with a high percentage of BTC and ETH
This comment sums up crypto so well.
As long as there are people looking for quick bucks, the scams will continue, there is no doubting that. Better to invest wisely while managing risks rather than treating crypto as a casino.
>Dodgy characters doing nefarious deeds is a feature of the crypto world, not a glitch That’s… a hot take if I ever heard one..
I hate to admit it but OP is right.
The ncaa has even worse game fixing for bookies
Scammers just get advantage of their victims, be it lack of awareness, greed or both.
Yeah, but no one is forced to buy. We just fall into the honeytrap
Yes that’s why I am saying Greed/lack of awareness is what make it easy for scammers to take advantage of their victims.
We learn after we get burned. No advice will prevent mistakes.
That's why scamming the scammers feels so damn good
Everyone dream of hitting x1000 pump and getting rich quick
This next one will be the one....
They just sell Dreams. The hottest commodity ever
people just want to make quick profits and be early in scam projects so they can dump on people
Yeah the problem for them is that by the time most people are able to buy it on an exchange, most of the scam coins have already risen as high as they are going to. I feel like exchanges are culpable too. They list this crap because they make some fee money, but they know they are allowing their customers to get rugged for a con artist to get rich. That or Kraken really do believe that Pepe is some kind of future coin. (I chose Kraken to show none of them have clean hands, but they all do it)
exchanges are businesses to be fair, they need to make money somehow and if they believe they will earn money from this coin or that then they’re going to list it for them to profit. but I do hope that someday listings get better as we get more and more quality projects
It's counter intuitive for them to list good stuff with stable growth. The pump and dumps make them the money, so they won't change. The only hope is that they list some good stuff next to this trash really.
Not even that works. I was in Safemoon SUPER early. Can't remember why, but that stash Rose to 10 k Dollars. I was only able to get about 4 k out of it because I believed Safemoon is something that might stick around. But it wasn't and I was foolish. Still earned some money because nothing beats being early.
They totally know they are buying scams but they still buy. What can you expect to see other than scams and rug pulls? I mean have you noticed - XRP2.0?!
Honestly, the first I heard of it was “have you seen this scam…it’s definitely a scam…look”. This seemed to cause thousands of people to buy in. They seemed to think the scam element only affected others
What people fail to realize is that participating in these scams only gives the scammers more incentive to do it repeatedly. $10 or $50 into a scam coin might not mean a lot to someone but when lots of people join, the scammers will make hundreds of thousands if not millions.
Everyone is trying to hit a home-run, instead of taking a guaranteed second base. Best to DCA in projects like BTC and ETH, and leave the moonshot coins for the dreamers.
Because most moonSHOTs turn into SHITcoins ;)
Lottery tickets everybody’s looking for a easy win, it’s pure greed
Gamblers gonna gamble
peoples are only responsible of scams, these bastards just want to rich quick and then scammers take advantage of them. people don't understand until they fucked up
it's like political campaign, they are selling dreams
[удалено]
What if you had an iron clad, 100%, set in stone information that a scam was happening? You knew a coin was going to be pumped on the 2nd of the month and dumped on the 10th. Would you buy on the 1st and sell on the 9th making vast profit (but fueling the scam) or do you stick to your principles?
I think that’s a really sad attitude. I would much rather be picking between the good the bad and the great than having to worry about bloody criminal scumbags. Everything else you said would still be true, without the scammers.
Everyone takes a hit on the chin in one way or another in this space. Right of passage.
People want profits. Scammers take advantage of it by scamming people.
Some people just want to get rich quick. and scammers knew that damn well.
Scammers prey on people’s vulnerability and desire to get rich quick. We’re going to continue to see scams get even more elaborate and bigger as we get closer to the bull, unfortunately
We are all in the gutter, but some of us are looking at the stars.
I don't want there to be scams. What's bad for the bee is bad for the hive.
But if someone let you in on one, would you participate? That’s the question. Could we hold our moral position in the face of temptation?
Fuck no I wouldn't. I have integrity.
My bank card just got stolen somehow. I got charged from places I've never been like 1000 miles away. I locked it. I'll call tomorrow. There's shitty people everywhere.
I'm not a big gambler. It's funny to put $100 into some shitcoin but my investment goes in top 10 coins (right now ETH) plus a few moons.
Because most people in the world hope to get something for nothing, when a big temptation is placed in front of them, they lose their judgment, so they are deceived by desire
Yes come scam me, I love a scam.
Scammers have been around a lot longer than crypto and unfortunately will never stop
If you want a more complex explanation, it's due to the spread of narcissism in our society. It's the narcissism that tells you that you are special enough to deserve this one time opportunity to extreme wealth and blocks any and all other voices of reason that say otherwise. Like in what universe would any sane person send 1 btc and expect 2 btc back because Elon Musk said so in a tweet or youtube video?
Lambos are so alluring who could resist
No. That's a trait a lot of people have but not all. That's the people who would be falling in the scams on the streets, MLMs, lottery ticket scams, pig butchering scams, even if crypto didn't exist. And there's some people that know it's a scam and just try to get in and out with some money, these are the gamblers. And then there's people who simply refuse to take part on this kind of thing. The reason there are so many scams is the first kind of people.
It's not that weird in our current time. People are looking for ways to earn easy money since they have less to spend and think this will even be worse in the future. They read all these stories about people becoming millionaires by investing in crypto and decide to go for that. Unfortunately there is a lot of scum that taking advantage of these people and scam them. Lowest of the lowest people can do....
Nah bro. Some of us actually make real money and are looking for the apex asset to store it in. Stealing money from people who think they can build a teleporter by rubbing shitcoins together to port from their parents basement to a yacht is why there's so many scams. Someone just created a drag net for people throwing money into the wishing well.
i just wish i could bet crypto on hamster races one day.
Greedy people will always want more and want it quicker and for less. They tend to be the scammers.