Any new industry is full of scams and the Bitcoin and Crypto industry is no exception. So how do you identify a Bitcoin scam. Well it’s really difficult for anyone to know and the scam artists are becoming more clever … or not? All depends who you listen to; as I already shared the other day on my FB wall. So copy/pasting that below:
How to Identify Bitcoin Ponzi Scams
I will do a video about crypto currency mining scams one of these days, how to spot them, how to run one (a scam) of your own and get away with, etc. Just so you will be able to spot the differences..
Hardware Miner vs. Cloudmining Price
Do legit CloudMining Opportunities exist at all ?!
“But so and so told me it’s legit ! “
Yes I know they told you. Guess why? Instant affiliate commissions are the name of the game. They — including you when you participate — are getting paid by building a distribution network. The typical 8-14% direct referral commissions that are being paid out in dozen of illegale investment or cryptocurrency mining schemes in Bitcoin? Are based on the purchases of thin air. You’re not purchasing cloudminers. It’s just impossible as outlined earlier. And these type of ‘schemes’ give the handful of great companies (including BCN) a bad name.
“But company XYZ have a company registration!” Yes, virtual office based. Already shared something about that in the past as well on FB: link coming later …
And that’s also the aforementioned. ANYONE that can set up a site like that and get away with it when it collapses; which is the reason ponzi’s are illegal by law. And thanks to semi anonomity because Bitcoin has semi anonomity without refunds?
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