Everyone knows about BitConnect, and how it was one of the largest scams in cryptocurrency history.
Even I lost a $100 on it, after attempting to do a year long experiment with it, but as soon as the top promoters such as CryptoNick and Trevon James started distancing themselves from it, and the price of Bitcoin was plummeting, I knew it was only a matter of time before it fell... and fall it did.
Now, meet Lendex, yet another scam product brainchild from some "unknown" developers... which seems to be the trend mind you.
They however are going about things a bit differently, and rather smartly if ya ask me, because they aren't even going to release a product.
They, in my opinion, are just going to take everyone's money in the ICO (initial coin offering) stage, and won't even have to worry about building a pesky product, or dealing with any cease and desist orders to boot.
I don't want to add any links to the website, but there is this guy, Nerdy Dude Stuff on YouTube, who I continuously warn about these programs, but he never listens.
He even got burnt in BitConnect, along with his referees, and yet he stills marches on promoting these lending programs, and getting people to sign up under his referral link.
Here's our conversation from just last night, so he obviously is aware of what he is doing, and knows it is wrong:
Simply tap or click here to enlarge the image above.
Listen folks, all of these programs are scams, and sadly, now you have used car salesmen types telling you to just get in early and get out, that's the trick, but now like in the case of Lendex, you won't even have a chance to get out early, because they are smart enough to know that this is what people are doing now, thanks to BitConnect.
Here's just a small list of all the lending platforms that have gone tits up already, and have successfully ran away with everyone's money:
- BitConnect
- Control Finance
- Laser Online
- BitPetite
- ChainGroup
- Hexabot
- Bitcoin Savings and Trust
- USI Tech (No longer making payouts, will probably exit scam soon!)
Please help me add more to this list if you know of more, thank you.
As you can see people, these things are all scams, and if you really think about it, how could they not all be scams, especially when Bitcoin is taking a shit at the moment?
The reason why Lendex is so genius in a Bitcoin bear market, is because they are pretending to have a very long initial coin offering process, so that they can get as much money as possible, before making a mad dash with your cash, without even having to play pretend lending platform for even a single day.
Which means you get nothing, and they get everything... so please be smart people, and don't invest in this shit.
Too good to be true anythings in life are usually just that, and I will leave you with that.
If you want to watch the Nerdy Dude Stuff video on Lendex that I mentioned above, and see for yourself just how shady this guy is, along with his new magic bean platform, I will plug it below for you.
But beware... it's rated "C" for cringy:
Simply tap or click here to watch this ad free video!
Thanks for the heads up. Seems like there's a new scamcoin everyday.
That there is sadly, but now that Bitcoin is taking a shit, we should see less and less of them for the time being.
Scam after scam after scam lol.
The reason why they keep creating them, is because people keep falling for them... so sad!
Yep. Greed fuels all of these Ponzi schemes.
Greed and stupidity.
Thanks for the heads up, btw when you say they aren't going to release a produce how would they get people to "invest" in landex?
Initial coin offering, they are taking everyone's money over a long period of time, and then once the timer is up... they "poof"... gone with the money!
So the promise is once the timer goes off the so called "landex coin" would also "poof" I see. Do you know how long they have started this?
Not sure, but I think he mentions it in the video. If you want to wait until later, I will re-upload a version of it to DTube, so that this guy can't delete it when Lendex goes tits up.
Lol if it does go tits up it would be great if it was on Dtube
Yeah, I'm tired of all these scammers deleting there shit once something exit scams!
Yeah, I just feel sad for everyone that got sucked into them. It's always better to stay safe than sorry...
Promoting a Ponzi is against the law in US. Even if the promoter got burned along with other people, the promoter is still liable.
Yes, the law in the United States" is that it is illegal to profit from a Ponzi scheme, which means the promoters are just as responsible.
Oh wow I didn't know this, btw I recently found an "ICO" and in the terms and agreements it says citizens of China and citizens of the US aren't allowed to buy or own it. What do you think if it says something like that? Scam? Or is that normal??
It's normal, because there are different rules for different countries, but I would stay away from ICO's if I were you... let them prove themselves first I say.
Ah I see, as usual thanks @talkatore always informative 😁
Hey... I try!
The big exchanges are getting more selective in accepting new listing. Binance CEO said recently that they have over 5000 new listing requests submitted. They have a team that screens possible new additions for integration to the platform but they will deny access to all those that they do not deem legitimate actors with true potential.
I'm glad to hear it, and good for Binance for doing the right thing.
Even the wild west cleaned up eventually. The crypto space will too.
I'm confident that it will as well, and look forward to watching it happen.
@tolkatore..
Greedy ness makes man to invest in it..
Toooo many cryptocurreny launching each day..
Very hard to predict which one will turnout SCAM..
Hope u keep writing on such topics..
Here is my post on this, I hope it helps - spend some time and research
How to pick cryptos with future potential
1 – look for a strong team with experience
2 – are they planning to or in the process of solving a real-world problem
3 – is the project transparent, accountable and active
4 – is there a clear understandable and on point whitepaper
5 – do they have a road map and are they following it
6 – are milestones set and achieved
7 – have they been accepted by large and reputable exchanges
8 – have they made partners in the business arena or are they actively pursuing same
9 – is their token truly needed for their project and not just a funding venue
10 – are they compliant and looking to be compliant and avoid legal troubles
11 – is there a large enough market for the project to be viable long term
12 – use critical thinking and look to find obstacles against their success
13 – is there energy, excitement and marketing effort being put forth and not just hype
14 – is there enough community support for the project to have it reach critical mass
15 – is the financing model flawed (such as pre-mined and mostly centralized, and/or highly inflationary)