Arbitra/Thorncoin SCAM!!!
Today I want to talk about some emerging ICO scams I became aware of today. In both of these ICOs you can lend coins and receive a percentage for lending. Your capital investment/BTC will not be released until a certain amount of days but the more you put in the sooner you will receive you initial capital and get a bigger return on your investment. Sound familiar or to good to be true. Exactly! This is just like the now shut down USI and the now defunct Bitconnect lending platforms. There are a few red flags here folks. FIRST red flag the youtubers that were repping Bitconnect are now pushing these. SECOND red flag is if you do some research they made twitter and social media accounts just days before launching the ICOs. I feel like a new coin takes a team of skilled and savvy people and to just start a social media awareness a few days before your ICO is just ridiculous and high suspicious. THIRD red flag is they are not listed on ICOalert.com which is where any reputable ICO is listed and shows a paper trail. I would not be lured into this guys and gals. Please fellow Steemers beware of this one!!!!
If it sounds like a duck, looks like a duck and walks like a duck it must be...A duck. Please do not let greed cloud your judgement!
It is a Ponzi scheme!
Correct! I wish these things were legit because it is to easy. The only problem is people shut down the logical part of their brains and WANT to believe. I am sure we will see the demise of this as well in the next few months.
in Russia there are many ponzi schemes. I noticed that the harder the times, the more insolent scammers. anyone who promises a fixed percentage is a scammer!
Exactly right. Here in the US they went after Bitconnect pretty hard. They were offering trusts which you can not do without a license. But with so many new people getting into cryptocurrency they just do not know any better and see a way to make easy money without spending the time to research it. Unfortunately, these kind of scams will tarnish the name of our industry until enough people are aware and lose their hard earned money. That is why I am trying to get the information out there to my followers. Please spread the word.
I resteemed your post. My friends and relatives consider any crypto a MMM
https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)
They are not believing ever is Steem!
Thank you for the Resteem! I can understand their speculation. I think with time and having a understanding of the crypto space they will come around. Regardless, we must protect the ones close to us from the ponzi schemes out there. Information truly is power.
steem upvoting bots may be a scam. I don't use them
You could be very right about that. One of the guys I had watched originally recommended it...but he also was affiliated with Bitcconect so who knows? Something I will look in to.