As I said in my intro, I am an authority in the Coin and Bullion Industry. I have been in Crypto for a long time but not in the online community sense. I just bought, traded, and held quietly. I am getting more involved in this community and I am running into a quote that I have not seen in any other aspect of my life. I see it countless times a day now. "You Can Thank Me Later."
It starts out talking about how much money you can make doing X, Y, an Z. Usually a super sketchy HYIP or the likes. If you don't know what this is, its a "High Yield Investment Program". These are EVERYWHERE and are Ponzi Schemes. They promise you tremendous returns for just depositing money. Guess what happens? You start seeing the money accumulate when you sign in to the account and get all excited. Then you try to take the money out and UT OH...the money never comes into your account. Then a month later the site completely goes down and its lost forever.
I tried one of these many years ago just to say I tried it. It ended exactly as I suspected. Me losing money. ( I kept it small.) They are all the same though so don't be fooled by the "Yeah well this one is different because...."
So when you start seeing this:
Be suspicious and ask for proof of real results AT MINIMUM before handing over money. I'd ask for a lot more.
There are plenty of ways to make money. The good ones get muddied by the noise of all these bad investments being pumped. Especially in this Crypto Industry. I have multiple income streams and none of them were easy to build. It took time and dedication. Just be smart, crosscheck references, and do you own due diligence before diving in.
I and others are here to be a positive resource. You can message me anytime on what I think about a particular opportunity before money changes hand. I am a veteran in online money and finance and have pretty much seen it all. Hope everyone on here reads this and never gets taken for money in this easy money Crypto atmosphere we are living in.
Diversification is also a great way to reduce risk. In everything! In wallets, exchanges, coins, etc.
One of my big upcoming posts is an in depth look on how I diversify. Some people might even out earn me apples to apples. I like to be aggressive under the canopy of diversification. Calculated Risk.
I agree 100%! If it seems too good to be true it usually is! Just like the scammer traders on twitter that post their lambos and rolex's, just trying to scam people into buying their programs or services!
In Crypto it is VERY hard sometimes to differentiate because the money being made in short term spurts is crazy crazy crazy. That provides cover for these other schemes to flourish because they almost seem believable in the Crypto world.
Lately there are a lot of those "thank me later" guys out there and the worst of it is that many of them have a lot of followers-subscribers and people who are not well informed and get carried away by these "easy money" opportunities fall into That by blindly trusting them.
As you say we have to try to have good sources of information, but more than everything to do our own research.
Nice post! Upvoted
its as old as time but the low hanging fruit of uninformed has funneled into the crypto end of the pool. Deep waters over here. It takes vigilance. If you see a post where you see correspondence and you can tell the other person is getting sucked into a bad situation we have to pull them out of it.
What's your take on Ethereum?
2 years ago I was not sure how I felt about it. I didn't take the time to understand it. Now that I understand it I think it is going to be big. You can literally build entire ecosystems right on top of the blockchain. That's just the first aspect and that alone is pretty crazy. That being said, this sector is so flush with talent something even better is possibly just around the corner. THAT being said, they do have a headstart on anyone new and will be a force to reckon with in the coming years. I think we haven't hit the all time highs in ETH yet nor their top capabilities as a new technology. The best is yet to come IMO
Very beautiful =) follow me to help us
Rico Suave
Congratulations @coinhawk! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPIf you want to support the SteemitBoard project, your upvote for this notification is welcome!