History's Largest Financial Scam – Cryptocurrency



ANVIL STEAM PAGE: Cryptocurrency, led by Bitcoin have exploded to a near 2 trillion dollar market …


49 Comments

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  6. Well for me the scams are not the biggest issue with crypto. scammers run everywhere and are a thing that only fools fall for. I won't go into details, but I am a software developer master's in AI and robotics and an owner of a small company, of course, we jumped on the trend and took a few clients from the crypto train, we write software it pays the bank.

    So for one of our clients we had to implement a payment validator while doing research, is to run a node on the network that the solution is running so therefore while mining you can actually confirm yourself the transaction has passed and allows easy to implement data layer for future expansion. So while we were writing the service that will interact with the miner itself, i found something really troubling, in order to run a node you need to have a decent pc to make a profit but that aside not being a problem when running it for business cases comes with a different issue. So a node at the moment, depending on the user connection takes between 0-50 minutes to fully sync, it has to sync all the blocks in the network before it can start to operate due to security reasons etc.

    That on its own is a huge problem that everyone ignores, it means that in the future there is a 100% chance for every blockchain that works under this model that the time required to sync all the blocks will be > or close to lifespan of the machine that's running the node. So eventually it will get to a point where old miners will die out of their lifespan, failed hardware, etc and new devices will only sync at the end of their lifespan.

    Some statistics to prove my claim:

    This is from Binance on Web 2 while we have 0.01% of the world running on crypto

    FULLNODE

    VPS running recent versions of Mac OS X or Linux.

    1T GB of free disk space, solid-state drive(SSD).

    8 cores of CPU and 32 gigabytes of memory (RAM).

    A broadband Internet connection with upload/download speeds of 5 megabytes per second

    VALIDATOR

    VPS running recent versions of Mac OS X or Linux.

    2T GB of free disk space, solid-state drive(SSD).

    8 cores of CPU and 32 gigabytes of memory (RAM)

    Suggest m5zn.2xlarge instance type on AWS, or c2-standard-8 on Google cloud.

    A broadband Internet connection with upload/download speeds of 10 megabytes per second

    Average of 30-1:30 for a sync

    I am batfowled that no one brings that issue, but it's most likely because no one truly believes in the technology, but everyone loves the market speculation that goes around at the moment.

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  8. As with most things that have room to make money it eventually gets bastardized and turned in yet another money making scheme.

    Human greed knows no bounds. Greedy individuals will always ruin anything if there is profit to be made.

  9. In my opinion, a basic requirement for something not to be a scam is for it to have a source of income that is NOT investors. Stocks are not a scam because they're tied to companies that sell a product or service. Investors give money for the company to operate, the company generates profit to pay the investors back by selling their product, the consumers get a product and have no expectation of making a profit. It's, at least in theory, a win-win-win. It doesn't always work perfectly, but it *can*.

    Crypto, though, crypto doesn't have consumers. It has investors trying to make money off of other investors. There's no way for all of them to profit. It becomes a system that is guaranteed to make at least some of their investors lose out. In my opinion, that makes it a scam by default.

    NFTs are not a product. Only investors buy them. There have been a few times crypto was used for buying products, but since crypto sucked for actually doing transactions people only bothered with it for illegal stuff. Drugs and child porn were huge in crypto's early days.

  10. I was scammed $50,000 it felt like the world had come to an end for me luckily i got a recommendation from a facebook group to contact the above name🖕🖕 on Facebook page which i did and he helped me recover back $45,000 of it.

  11. I was scammed $50,000 it felt like the world had come to an end for me luckily i got a recommendation from a facebook group to contact the above name🖕🖕 on Facebook page which i did and he helped me recover back $45,000 of it.

  12. I was scammed $50,000 it felt like the world had come to an end for me luckily i got a recommendation from a facebook group to contact the above name🖕🖕 on Facebook page which i did and he helped me recover back $45,000 of it.

  13. For something to be a scam there has to be fraud involved. Whoever invented it threw it out onto the web and people do with it what they will. No one controls it or is able to manipulate its value through political policy like the fed reserve does with American dollars. So where is the fraud?

    Sure there are scams involving bitcoin but the coin itself is not a scam. Does it suck that it has lost value over this past year? Yes. But point out the person or people whose fraudulent or illegal activity caused it to do that. You can't.

    Crypto is a good idea and has a lot of potential. I think we can all agree that the people of several African countries could benefit by getting out from under the currencies being forced upon them by the French government.

    You're not helping anyone with this bullsh!t.

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  15. ☝️☝️☝️🇱🇷☝️☝️☝️
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  16. Any market cycle whether stocks etc is over time a pump and dump, the money comes from other investors when you want to take profit. its about being one of the early ones onboard. Are you going to tell people who bought bitcoin even 6-8 years ago at 300$ that its a scam? get real. The fact is not everyone can profit off any market, that isn't how markets work. period. Average Joe usually hears about stuff and invests in market tops then sells at the market bottom. You are doing it wrong.

  17. I was scammed $70,000 it felt like the world had come to an end for me luckily i got a recommendation from a facebook group to contact the above name🖕🖕 on Facebook page which i did and he helped me recover back $65,000 of it,,

  18. I was scammed $70,000 it felt like the world had come to an end for me luckily i got a recommendation from a facebook group to contact the above name🖕🖕 on Facebook page which i did and he helped me recover back $65,000 of it,,

  19. I was scammed $70,000 it felt like the world had come to an end for me luckily i got a recommendation from a facebook group to contact the above name🖕🖕 on Facebook page which i did and he helped me recover back $65,000 of it,,

  20. It needed to be said. Everything crypto is hyped up to be is wrong. Too many idealists losing all their money to this scam.

  21. If you got into it in 2013, aren't you really rich? I got into it in 2014 and only ever put 10k in; now my net worth is over 10 million. I don't get why you advocate against it. If you're shrewd and have a deep and nuanced understanding of the space it is pretty easy to make smart investments and profit long-term.

  22. The idea about making money is sickening. People have lost the knowledge of how money came into existence. It all started with trading of value. Bitcoin doesn't have any value. It's what people believe it is. Cash money (the dollar or any government current) is a representation backed by the government to associate a particular value to someone. That's why you'll trade your time or anything at a particular value. Nowadays people invest in crypto just to obtain government money in the future. If you want money trade your your skills, not crypto

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