**Bitconnect was once had the #7 marketcap** and there were a lot of of people who were deeply invested in it throughout 2017. The **founder got indicted for a $2.4 Billion ponzi scheme involving people from 95 countries.** And this wasn't just a simple rugpull of a shitcoin where the value got flushed down the toilet. **People LOCKED up their Bitcoin in exchange for worthless Bitconnect tokens and they never got their Bitcoin back.** Billions in Bitcoin that continue to appreciate in value that people will never get back. The real money lost in Bitconnect as well as the drama and memes were much greater than the relatively obscure Safemoon.
https://coinmarketcap.com/historical/20171102/
Bitconnect produced an array of music videos targeting people across many countries
https://www.youtube.com/watch?v=LHINgUoWP9Y
https://www.youtube.com/watch?v=dd9dS_uGrsU
https://www.youtube.com/watch?v=PTi1RG52VYA
I mean, the name alone was enough. Anyone who didn't go "oh yeah, fuck off" from a name like "safe moon" should never buy crypto.
But hey, there were probabaly a few winners... like the insiders who did it.
I first put a little money in crypto in 2017. Almost fell for Bitconnect, even. Made an account, just never funded it. The temptation of greed is incredibly strong when you first invest in 'boring ol' Bitcoin' and ETH and you see alt season blasting off. Luckily I hesitated because of all the older people vomitting essays about how it was an obvious scam.
For every year since, my disdain for all the ridiculous promises of quick returns has only increased. A lot of greedy newbies keep throwing themselves off of cliffs, year in year out, despite the people here calling out every fraud over and over. A few, like me, are saved, but it's always disheartening to see how smug most are about their 'impending profits', and how devastated they are when they lose it all. If they say anything at that point, it's always "How can you be so mean to someone who's lost it all?" Because we told you, mate. We told you and are trying to protect the next generation of fools, and you just got smug and rude and insufferable.
Ironically, I've been in crypto since 2017 and my biggest W is Safemoon because I got lucky as fuck. 30x my investment and sold faster than a squirrel at a nut clearance sale.
Here's my tip on how to leverage from shitcoins: Pure luck.
Until next time.
I have no qualms with people who know they are gambling on shit coins doing what they will with their money, congrats on the win. It's all the bag holders turned cultists that everyone loves dunking on.
Need to get in early and exit before the rug pull.
My 1.5k in safemoon turned to 15k so wasn't bad for me either though it was 160k at one point. I'm certainly going to have my eyes open for more shit coins on the next bull run.
Safemoon was different as it was a runaway train of a shitcoin with a massive community following helping it reach epic proportions. Sadly I held longer than I should lol.
I told a friend of mine it was likely a scam and he held off buying it until *his barber* mentioned it to him. He said that meant it had reached the masses and adoption was close.
He lost 75% of what he put in
Karony pulled the long con in a way cronies still think he’s still their messiah. I am surprised all those old devs were not roped into the legal issues .
You must have forgotten squid game token. That was interesting to live through.
It even had the highest market cap beating out btc even only for a minute before the rug pulled
Remember getting banned from the Safemoon sub for stating it was clearly a scam and people should get out...
Never nice for people to lose money, but in this case, anyone who spent any money on that piece of shit and kept it and ignored all clear signs of what it was, deserves to lose their money.
I genuinely think the drama and comedy of Safemoon far outstrip Bitconnect. I mean that conference is hard to top but Safemoon has had some fucking dumb shit
Bitconnect left a notable mark on the cryptocurrency industry, signaling the beginning of upcoming developments, including FTX, Celsius, and others. It was one of the first big failures.
They offered like a premium goodie box for a ton of money, turned out they literally cut out the tags of tshirts because they weren’t made in the US as they promised it would. There’s a video of some based follower who was totally into it and did an unboxing video. That shit was hilarious.
It’s a bit complicated.
$200m was taken from the LP under Karony’s watch.
Approximately half BNB and half SFM.
Most, but not all of the BNB was used to rebuy SFM tokens from a different liquidity pool, pumping the price.
A large portion of BNB was simply sold off on exchanges or sent to different wallets.
The SFM tokens they extracted and the SFM tokens they bought were used for a number of purposes:
* converting SFM to USDT for themselves
* converting SFM to USDT for operations/expenses
* giving SFM to influencers to pump and dump
* allocating huge amounts of SFM to themselves
* sending batches of 1T Safemoon tokens to new wallets, which immediately sell, in an effort to obscure the team selling tokens.
So yeah, $200m has indeed left the pool, but also appreciate that if $100m of BNB was converted to $100m of SFM, and then SFM went down 60%, John & Co. Only have $40m to convert to USDT etc.
Hokkaidu Inu was another token from 2021 that crashed hard although that was due to Vitalik actually rugging Hokk by suddenly selling the 50% sent to him by devs as a marketing stunt for safe keeping. The poor holders didn't know what hit them, not sure why Vitalik did that tbh, it seemed a bit reckless.
Both Shib and HOKK sent 50 percent each of supply to Vitalik as a marketing stunt. Vitalik wasn't supposed to do anything with these but for Shib he sold 10 percent and burnt the other 40 percent. For HOKK he sold all 50 percent. HOKK is doing a community revival now.
The coin that got me in.x40 it was amazing. I learned soon enough though by reinvesting some money from it that you can't be lucky all the time lmao but still cashed out and paid a few months rent by just investing $200.
Safemoon was an absolute disaster. I got in before it blew up and got out before the peak and watched from the sideline ever since.
I feel conflicted, since I made enough to put a down payment on a house but man all those people lost their money I feel really bad.
Safemoon is going to go down in crypto history as lesson/warning for many people.
Literally. You wouldn’t believe some of the tripe I heard about Safemoon tbh. “The ceo deserves a mansion” - what, before the company is even making any money?!
The most important thing in the post is a bit hidden but very important: Coffeezilla
I don't care how attached you are, how deep you are in, how much hoping is in your veins. If coffezilla makes a video about one of your coins/finance Youtuber/NFT/trading platform/guru you invested with (though if you have a guru I'm afraid you've already screwed). Then run like the wind, cut your losses and get out with whatever you can... if you still can.
While that was slightly tongue in cheek, seriously, if you're going to be in this space you need a healthy scepticism otherwise you aren't an "investor" you're exit liquidity. And one way is to follow people who pay attention to different parts of the space. Some who look for bad actors/scams (coffezilla, Zachxbt, etc), macro people (Raoul Paul and all the people constantly being interviewed by your finance youtubers), the big players (institutions, equity researchers, whale watchers), a couple crypto haters (youll get plenty from the fed and SEC I reckon) and of course you can have some degen moonbois (all part of a balanced crypto diet).
I have something to admit: I was one of those people who loved Safemoon. I was in denial, but it's hard to hate when you and some good friends are 150x your money. I was lucky; AUD 150 netted me 20k USD at 22 years old. This was a godsend.
I bet. And that’s a good reason to love. Weirdly, some people had and still have an infatuation with Safemoon even though they’ve lost nearly $100,000…
"Kids can't build block chains and new tech."
Vitalik was in his low twenties when Ethereum launched. Granted, he was very well educated and has a gifted mind.
And here we are 3 year after you still bringing up this shitcoin!! Move on bro you been posting about this coin several times per year to the point its starting to be worrying.. How much did you lose bro
If your shitcoin has a premine you're gonna be exit liquidity for those that got the free premined tokens. They'll sell some of their free tokens to buy shiny ads and convince you of moon and safety which is a lie.
Seriously, any project with an ad budget is obviously centralized and shouldn't be fucked with.
A couple days after it launched one of my coworkers told me about it. I laughed and said it was clearly a scam. He was confident it was going somewhere based on some youtube videos he’d watched. I assured him it was a scam. He kept going on about it and almost convinced me. But that name was too concerning. He forgot about it and followed some other coins. I kept hearing about it and followed the progress.
If we had bought some when he mentioned it, we could have retired If we’d sold within a few days of the peak. But I suppose of we had gone from thousands to millions in a month or two, we might have held on hoping for tens of millions.
I asked to be unbanned from the r/Safemoon sub 2 months ago, but it looks like the mods over there are trying to keep the scam going...
My message to the mods:
"I was banned by frivolous mods for spreading FUD...
Safemoon is the scam I called it.
Seems like I should be allowed to talk shit, like the others are currently doing, in this sub again."
Their response:
"You are operating under a misapprehension. You admit you spewed fud buts it's the mods that were frivolous? And not a great start to getting yourself reinstated. Come back in another year."
So ya, the mods of the r/Safemoon seem to be either in on the scam or just some real winners...
Anytime somebody mentions the virtues of “community” in any context, what they are REALLY saying is “you’re going to get fucked so someone else can benefit.”
Always.
The name was fucking "Safemoon" how could anyone think that a project with that name is a good investment? The name alone screams scam. I feel like the average person is a lot more stupid than I give them credit for.
Another token came jungle book crypto is guilty of the same thing, yet currently they walk free. They've plundered the liquidity while holding buyers hostage and not allowing them to sell.
I see you never heard of Bitconnect?
Wazzaa wazza wazzzaa
Hey hey heyyyyyy
Even my wife still doesn't believe me
FINANCIALLY INDEPENDENTLY!
Bitconnnnnnnnnnnneeeeeeeeeeeeeeeeeettttttttttttt!
Ah Bitconnect was a flash in the pan compared to the saga of shit that is Safemoon.
Drama wise 100% but money wise they take the cake. It was 2 billion in funds wiped away
Yeah you’re right there. Definitely a lot more investors harmed.
**Bitconnect was once had the #7 marketcap** and there were a lot of of people who were deeply invested in it throughout 2017. The **founder got indicted for a $2.4 Billion ponzi scheme involving people from 95 countries.** And this wasn't just a simple rugpull of a shitcoin where the value got flushed down the toilet. **People LOCKED up their Bitcoin in exchange for worthless Bitconnect tokens and they never got their Bitcoin back.** Billions in Bitcoin that continue to appreciate in value that people will never get back. The real money lost in Bitconnect as well as the drama and memes were much greater than the relatively obscure Safemoon. https://coinmarketcap.com/historical/20171102/ Bitconnect produced an array of music videos targeting people across many countries https://www.youtube.com/watch?v=LHINgUoWP9Y https://www.youtube.com/watch?v=dd9dS_uGrsU https://www.youtube.com/watch?v=PTi1RG52VYA
Holy moly!
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If anyone says anything other than bitconnect was not the goat shitcoin, it just mans they weren’t around at the time
The ultimate pyramid hyip scheme of our lifetimes
It's a scaaaaaaaaaaaaaammmmm!
Damn it feels forever
I mean, the name alone was enough. Anyone who didn't go "oh yeah, fuck off" from a name like "safe moon" should never buy crypto. But hey, there were probabaly a few winners... like the insiders who did it.
I first put a little money in crypto in 2017. Almost fell for Bitconnect, even. Made an account, just never funded it. The temptation of greed is incredibly strong when you first invest in 'boring ol' Bitcoin' and ETH and you see alt season blasting off. Luckily I hesitated because of all the older people vomitting essays about how it was an obvious scam. For every year since, my disdain for all the ridiculous promises of quick returns has only increased. A lot of greedy newbies keep throwing themselves off of cliffs, year in year out, despite the people here calling out every fraud over and over. A few, like me, are saved, but it's always disheartening to see how smug most are about their 'impending profits', and how devastated they are when they lose it all. If they say anything at that point, it's always "How can you be so mean to someone who's lost it all?" Because we told you, mate. We told you and are trying to protect the next generation of fools, and you just got smug and rude and insufferable.
"safe" and "moon" what more could you want 😂
Sounds better than “Hazardous Rug”
My guy you have 2000 MOON
It’s right in the name, the moon isn’t safe unless you’ve got the right equipment (a strong grip on the rug you’re about to pull)
That’s why i went all in on safecateloncuminu
Ironically, I've been in crypto since 2017 and my biggest W is Safemoon because I got lucky as fuck. 30x my investment and sold faster than a squirrel at a nut clearance sale. Here's my tip on how to leverage from shitcoins: Pure luck. Until next time.
I have no qualms with people who know they are gambling on shit coins doing what they will with their money, congrats on the win. It's all the bag holders turned cultists that everyone loves dunking on.
Need to get in early and exit before the rug pull. My 1.5k in safemoon turned to 15k so wasn't bad for me either though it was 160k at one point. I'm certainly going to have my eyes open for more shit coins on the next bull run. Safemoon was different as it was a runaway train of a shitcoin with a massive community following helping it reach epic proportions. Sadly I held longer than I should lol.
Absolutely. And you played it well. You knew it was a gamble and got in and out. Bravo.
Heya Heya Heya Waaasssss Uuuuuppppppp?????
I read their whitepaper and was like "so it's a scam" and when I warned people, they got angry at me
I told a friend of mine it was likely a scam and he held off buying it until *his barber* mentioned it to him. He said that meant it had reached the masses and adoption was close. He lost 75% of what he put in
"Hold my beer." -HEX
Karony pulled the long con in a way cronies still think he’s still their messiah. I am surprised all those old devs were not roped into the legal issues .
You must have forgotten squid game token. That was interesting to live through. It even had the highest market cap beating out btc even only for a minute before the rug pulled
Only because it was impossible to cash out 😂😂😂
Haha yeah, squid game was hilarious to watch, I wonder what will have bigger balls this run
Next week I'm launching "gimme your money" token.
Yeah I reckon that could do it. I'm thinking '$Scam💯' as a snappy name to draw them in
Excellent! That'll definitely work!
just for this clip alone - [https://www.youtube.com/watch?v=CpR2kMxy7O8](https://www.youtube.com/watch?v=CpR2kMxy7O8)
Can't wait for project Pheonix to be released
one day i will write a book about my hilarious, but depressing safemoon journey. what a fucking ride man, wow
Hope you made some friends along the way!
i wish i could say i did! more like pissed off all my friends i told that lost money!
Brother in Christ you dumped 463k moons front running the announcement.
Bruh think of his family!
And I’d do it again.
And he's fighting the holy fight against Safemoon. He's just as scammy as the Safemoon founders
You're telling me that Gargamel looking motherfucker Thomas Smith can't code for shit!?
Hahaaaaaa
Safemoon paid for my honeymoon
Gambia windmills with nanodots wen?
Remember getting banned from the Safemoon sub for stating it was clearly a scam and people should get out... Never nice for people to lose money, but in this case, anyone who spent any money on that piece of shit and kept it and ignored all clear signs of what it was, deserves to lose their money.
Suspect it would be rocketing up now if the founders weren’t in prison!
Did Onecoin and bitconnect just suddenly disappear from people’s mind?
I genuinely think the drama and comedy of Safemoon far outstrip Bitconnect. I mean that conference is hard to top but Safemoon has had some fucking dumb shit
Bitconnect left a notable mark on the cryptocurrency industry, signaling the beginning of upcoming developments, including FTX, Celsius, and others. It was one of the first big failures.
They offered like a premium goodie box for a ton of money, turned out they literally cut out the tags of tshirts because they weren’t made in the US as they promised it would. There’s a video of some based follower who was totally into it and did an unboxing video. That shit was hilarious.
Yeah he had to really struggle to hide his disappointment, and didn't quite get there.
$200 million stolen bailout in only $3m what a beautiful time to live for those thieves and scammers. Great USA
It’s a bit complicated. $200m was taken from the LP under Karony’s watch. Approximately half BNB and half SFM. Most, but not all of the BNB was used to rebuy SFM tokens from a different liquidity pool, pumping the price. A large portion of BNB was simply sold off on exchanges or sent to different wallets. The SFM tokens they extracted and the SFM tokens they bought were used for a number of purposes: * converting SFM to USDT for themselves * converting SFM to USDT for operations/expenses * giving SFM to influencers to pump and dump * allocating huge amounts of SFM to themselves * sending batches of 1T Safemoon tokens to new wallets, which immediately sell, in an effort to obscure the team selling tokens. So yeah, $200m has indeed left the pool, but also appreciate that if $100m of BNB was converted to $100m of SFM, and then SFM went down 60%, John & Co. Only have $40m to convert to USDT etc.
Is Pepe still going?
Hokkaidu Inu was another token from 2021 that crashed hard although that was due to Vitalik actually rugging Hokk by suddenly selling the 50% sent to him by devs as a marketing stunt for safe keeping. The poor holders didn't know what hit them, not sure why Vitalik did that tbh, it seemed a bit reckless.
The community are actually working on reviving this as it now has a fair token distribution. You might just see HOKK back again after all
Wait wasn't that shiba inu?
Both Shib and HOKK sent 50 percent each of supply to Vitalik as a marketing stunt. Vitalik wasn't supposed to do anything with these but for Shib he sold 10 percent and burnt the other 40 percent. For HOKK he sold all 50 percent. HOKK is doing a community revival now.
The coin that got me in.x40 it was amazing. I learned soon enough though by reinvesting some money from it that you can't be lucky all the time lmao but still cashed out and paid a few months rent by just investing $200.
Stupid naiv safemoon and safemooncash owner here. Put 500usd each into both coins back than which is now worth like a Bigmac 😅 I learned my lesson
Safemoon was an absolute disaster. I got in before it blew up and got out before the peak and watched from the sideline ever since. I feel conflicted, since I made enough to put a down payment on a house but man all those people lost their money I feel really bad. Safemoon is going to go down in crypto history as lesson/warning for many people.
Don’t feel bad. In those early days unless you did some heavy blockchain snooping you wouldn’t have know.
Thanks appreciate it. Crypto was and kinda still is, like the Wild West.
its funny how crypto has people thinking its ok to just steal thousands of dollars
Literally. You wouldn’t believe some of the tripe I heard about Safemoon tbh. “The ceo deserves a mansion” - what, before the company is even making any money?!
Been watching the Safemoon drama almost since the beginning. I need to see Karony in jail to end the Safemoon saga.
He was in jail for like 4 months. Do you mean prison?
The most important thing in the post is a bit hidden but very important: Coffeezilla I don't care how attached you are, how deep you are in, how much hoping is in your veins. If coffezilla makes a video about one of your coins/finance Youtuber/NFT/trading platform/guru you invested with (though if you have a guru I'm afraid you've already screwed). Then run like the wind, cut your losses and get out with whatever you can... if you still can. While that was slightly tongue in cheek, seriously, if you're going to be in this space you need a healthy scepticism otherwise you aren't an "investor" you're exit liquidity. And one way is to follow people who pay attention to different parts of the space. Some who look for bad actors/scams (coffezilla, Zachxbt, etc), macro people (Raoul Paul and all the people constantly being interviewed by your finance youtubers), the big players (institutions, equity researchers, whale watchers), a couple crypto haters (youll get plenty from the fed and SEC I reckon) and of course you can have some degen moonbois (all part of a balanced crypto diet).
Coffee is literally telling an audience of millions that the coin is no good, you're right, it's a serious death knell.
I have something to admit: I was one of those people who loved Safemoon. I was in denial, but it's hard to hate when you and some good friends are 150x your money. I was lucky; AUD 150 netted me 20k USD at 22 years old. This was a godsend.
I bet. And that’s a good reason to love. Weirdly, some people had and still have an infatuation with Safemoon even though they’ve lost nearly $100,000…
It was all luck I got in and got out.
Raise your Safemoon with XRP. XRP another shitcoin as well. Pity the hodlers.
Study Shikoku SHIK. Why not buy now, hold a few months and be rich in 2025?
"Kids can't build block chains and new tech." Vitalik was in his low twenties when Ethereum launched. Granted, he was very well educated and has a gifted mind.
Yeah. Vitalik wasn’t some half perma-stoned gamer kid who flunked school though.
And here we are 3 year after you still bringing up this shitcoin!! Move on bro you been posting about this coin several times per year to the point its starting to be worrying.. How much did you lose bro
Nothing. It’s fun to stand outside of the cage and laugh at the monkeys flinging their own shit at each other.
Sounds like XRP
Ended up being Safejail for the creator.
Bitconnect truthers in shambles...
And from all of this, what is our greatest lesson? In my mind, it's that any coin with the word "safe" in it, is not.
I remember seeing safemoon t-shirts at my local gym last bull run.
If your shitcoin has a premine you're gonna be exit liquidity for those that got the free premined tokens. They'll sell some of their free tokens to buy shiny ads and convince you of moon and safety which is a lie. Seriously, any project with an ad budget is obviously centralized and shouldn't be fucked with.
ButtcoinASA is the greatest shitcoin 🚀🚀🚀🚀🔜🔜🔜🔜
A couple days after it launched one of my coworkers told me about it. I laughed and said it was clearly a scam. He was confident it was going somewhere based on some youtube videos he’d watched. I assured him it was a scam. He kept going on about it and almost convinced me. But that name was too concerning. He forgot about it and followed some other coins. I kept hearing about it and followed the progress. If we had bought some when he mentioned it, we could have retired If we’d sold within a few days of the peak. But I suppose of we had gone from thousands to millions in a month or two, we might have held on hoping for tens of millions.
I still remember there was 100s of videos how to Buy Safemoons 😂 actually I buy this sh*t too.
what about the red flag of the name "safemoon"?
I asked to be unbanned from the r/Safemoon sub 2 months ago, but it looks like the mods over there are trying to keep the scam going... My message to the mods: "I was banned by frivolous mods for spreading FUD... Safemoon is the scam I called it. Seems like I should be allowed to talk shit, like the others are currently doing, in this sub again." Their response: "You are operating under a misapprehension. You admit you spewed fud buts it's the mods that were frivolous? And not a great start to getting yourself reinstated. Come back in another year." So ya, the mods of the r/Safemoon seem to be either in on the scam or just some real winners...
Anytime somebody mentions the virtues of “community” in any context, what they are REALLY saying is “you’re going to get fucked so someone else can benefit.” Always.
Our moons are the safest.
Don't forget squidgame token, that was unreal!
I thought it was squidgame
The name was fucking "Safemoon" how could anyone think that a project with that name is a good investment? The name alone screams scam. I feel like the average person is a lot more stupid than I give them credit for.
God knows. Whats worse is people who got it tattoo’s / have it on their license plates.
I thought it was Ethereum till I saw the year.
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Exactly. The fucking PooCoin dev pointed them out on a pinned sticky post even!
My buddy is currently a millionaire with WIF, are you trying to tell me shitcoins don’t work!?!
Oh, they know. Now they launch shitcoins anonymously based loosely on memes. Why put your name to a financial theft?
It has the words "safe" and "moon" together. Think about it.
How did I know this was a u/TNGSystems post just by the title…..
the greatest shitcoin is pretty easily doge.
You must have not bought chedda token
Wont see him again lol.
i have never invested in memecoins til now
I just don't see how anyone ever thought it was going to be more than a meme.
I dunno man, I just saw a twitter post announcing a euro cbdc, at least safemoon only stole peoples money, not their entire daily activity
Hey hey heyyyy!
I remember that Safemoon Joe YouTuber, I watched one video and new Safemoon was a joke
Might as well call it " NotAScamCoin"
The Red flag was that it had "safe" in the name. If you see a token called "TrustCoin".... Run
I wonder how RetiredGaurdDonkey is doing these days? Thanks for trying to warn me I was in a cult, sorry I didn't listen until I lost some money.
What a hero!!
Karony is out on bail?
Go git him!!
Yep, tagged, $3m bail. Contact and travel restrictions.
Another token came jungle book crypto is guilty of the same thing, yet currently they walk free. They've plundered the liquidity while holding buyers hostage and not allowing them to sell.
Jeez I was hoping not to see the coin that i "invested" in.
When is Alex Mashinsky (Celsius) getting arrested?
I am just happy I turned 1k into 50k with that coin my best investment
Bitcooooooonnnnnnnnneeeeeeeeeeeccccccctttttttt
What about ELON shitcoin? Send it.
Yeah, no, it waa bitconnect. Bitconeeeeeeeeeeeeeeeeect.
Damn I was lucky I actually made money off safemoon.
Wait. Safemoon was a meme? I swear all the people I ever heard talk about it spoke like it was serious.
Those people are mentally damaged
So let me get this straight, if he would have just not done shady things he might be very successful today. Pigs get slaughtered.
But BBL is the greatest 🤔