A good investor makes provision for the worst occurrence, Before making an investment there should be a reserve incase it doesn't work out or incase the project fails . Using all one has to invest in crypto including Bitcoin is a big sign of greed. There should be a plan B incase things get sore. Scammers will never be eradicated from the crypto space. It should be a reminder that where ever success is found opportunist will want to reap from where the never sowed.
I will never blame scammers for taking what is not theirs i will blame the greedy for hoping to get so much from going all in to a project that has no consensus, no structure, no reasonable purpose. I believe the crypto space is forever evolving new opportunities are coming in daily so why risk it all in something that is not certain. keeping the risk affordable will even make an investor more prepared for bigger offers.
Topic: Corrupt people in crypto - page 3. (Read 1402 times)
Corruption is inherent in humanity and can't be totally eliminated as there are certain persons amongst the elite class that benefits from it. We may try to control it but definitely can't end it, same can be said of in the cryptocurrency industry, all you need to do is to minimize your level of greed and be calculative in the kind of risk you venture into based on maybe the kind of profit and benefits that accrues to it.
What may be running smoothly from the initial might then be corrupted by a certain few that might got involved in the process and thereby through their act bring an end to it and I think this is the fate of some of these coins.
True, and there's no way on getting rid of it specially into those people who are sitting in the top of the chain or power ranking then pretty sure that they wouldWhat may be running smoothly from the initial might then be corrupted by a certain few that might got involved in the process and thereby through their act bring an end to it and I think this is the fate of some of these coins.
really be taking up advantage into their positions just to make or do other benefits and able to snip out some funds or money which is something very typical in todays reality.
We cant really just be surprised on what are the probabilities and as long there are money get involved, no matter what industries we are talking into
whether on crypto or even simply with politics or other industries then there's always corruption attached to it.
We can't blame only the thieves and scammers. Some of them can't help it. It's funny that there's so many mentally ill people who are narcissistic sociopaths and compulsive liars in crypto. The late John McAfee was one of them and lately Do Kwon and SBF.
There's a recent interview with SBF on Youtube, you can check it out if you're able to listen to that guy for 20 min, I sure had some difficulties. He's constantly lying, trying to make himself look like he's the victim, like it was all Alameda, like Alameda was a separate entity that did things on its own... He denied having backdoor access to the exchange that allowed him to move funds when all his co-workers said that he had that and the funds were obviously moved by him because he was buying properties left and right. Fucker wanted to act like a poor guy, driving a Toyota, but in the meantime he was buying himself a yacht with stolen money.
There's a recent interview with SBF on Youtube, you can check it out if you're able to listen to that guy for 20 min, I sure had some difficulties. He's constantly lying, trying to make himself look like he's the victim, like it was all Alameda, like Alameda was a separate entity that did things on its own... He denied having backdoor access to the exchange that allowed him to move funds when all his co-workers said that he had that and the funds were obviously moved by him because he was buying properties left and right. Fucker wanted to act like a poor guy, driving a Toyota, but in the meantime he was buying himself a yacht with stolen money.
Corruption is inherent in humanity and can't be totally eliminated as there are certain persons amongst the elite class that benefits from it. We may try to control it but definitely can't end it, same can be said of in the cryptocurrency industry, all you need to do is to minimize your level of greed and be calculative in the kind of risk you venture into based on maybe the kind of profit and benefits that accrues to it.
What may be running smoothly from the initial might then be corrupted by a certain few that might got involved in the process and thereby through their act bring an end to it and I think this is the fate of some of these coins.
What may be running smoothly from the initial might then be corrupted by a certain few that might got involved in the process and thereby through their act bring an end to it and I think this is the fate of some of these coins.
The statement was different one,this applies to all the field.Not only the crypto currency ,they also involve in all the business.I hope you don’t forgot the thing,the price of all the coin is not a stable one.Even the price of bitcoin also not same all the time.People will good interest in the trading will do the trading at all the price.Only this things affect the involvement of new people to the forum and investment.By this the market liquidity will be reduced in the crypto currency trading.
Humanity is corrupt from the core, that's the trouble we have. The ones with power wants you to live a certain way, changing and ranging from very low to very high depending on what works for them, but they want to live a different life. Politician who says they are against X could end up doing X thing themselves in secret, and this is everywhere.Business person that goes out and says "women in workforce is very important to us and should be to everyone" and then not promote a woman and pick a lesser candidate because they are man. That is why corruption will of course be in crypto as well, it's people who use it, and we are corrupt in our core.
The problem with this is that we know that sometimes what we think is good will surely be misused by some parties and of course this becomes more of a concern so that we continue to be careful because things like this, although not all of them, but will definitely be repeated in future times. is coming so we have to be prepared from the start and not really believe in anything in crypto.
When we do talk about money then everything could really be changed up in a snap no matter how reputable or known a person or company/platform is which it is really just right that you should be mindful about that risk management.Corruption and frauds or any some sort which is connected to this could really happen on this space and this is why its really that right that you should really know on what you should gonna do.Make yourself prepared and always consider on taking up investment on which you are really that prepared for whatever things that might happen along the way.
Expect the unexpected yet this had been always the case specially on dealing with this crypto space where everything could possibly happen.
I think this is a very good lesson because with this we are aware that we cannot fully believe in something because it can and does happen again and again, especially for the Crypto world.
The most widespread case of scam, of course, is the case of FTX that makes many users lose money, I think this is an important lesson that in our lives we must be very selective and do not really believe in many projects, now maybe we still have a lot of good exchanges but me sure cases like FTX will be repeated again.
Cases like what happened to FTX will only happen again if exchange owners can be very greedy and want to run away with other people's money. But I don't think that all crypto exchange owners are greedy because among so many exchanges there must be some good exchanges that are managed by good people in them even though it can't be predicted easily because greed is an intention that comes from someone's heart.
Many things are done by fraudsters to get money quickly, ICO or IDO trends are still massive and many projects that have the potential to become scams, it can be said that the FTX case is common in Exchanges, previously there have been many exchanges that have become scams for many reasons such as attacks hackers, hacked and so on.
The statement was different one,this applies to all the field.Not only the crypto currency ,they also involve in all the business.I hope you don’t forgot the thing,the price of all the coin is not a stable one.Even the price of bitcoin also not same all the time.People will good interest in the trading will do the trading at all the price.Only this things affect the involvement of new people to the forum and investment.By this the market liquidity will be reduced in the crypto currency trading.
There's no doubt about it that we have corruption everywhere and that in cryptocurrency has to do with our level of exposure in identifying those kinds of cryptos that could lead to scam especially when dealing with centralized ones which have not been in existence over years but are seeking to boom their project by traffic hype on investors, they manipulate things to suite others in other to decieve them into investing, by now i think the recent events on scams will make people realizes more need to avoid some coins and also research properly with what they invest into before getting scammed the second time.
The most widespread case of scam, of course, is the case of FTX that makes many users lose money, I think this is an important lesson that in our lives we must be very selective and do not really believe in many projects, now maybe we still have a lot of good exchanges but me sure cases like FTX will be repeated again.
Corruption has become a culture and human greed which is certainly very detrimental, a variety of corruption has occurred and makes many people cry because of loss of money, and the trend of corruption in cryptocurrencies, especially Exchanges is a very dangerous thing, the owner will move assets and then complicate the withdrawal process or try to find mistakes or try to find mistakes or try The user was blocked, and we had to be vigilant because I felt the loss of money in several top exchanges.
This is just a very small list, and I do mean VERY SMALL list of names for those whom are corrupt in this space. I've been around bitcoin since the 2014 days and I've seen it all. Worst part is, it doesn't seem like people are really learning the lessons they should be from all of this stuff. FTX is a prime example of people not learning from the Mt Goxx debacle.
When will people wake up? I think this is why more governance is an okay thing (as long as it's not taken too far).
When will people wake up? I think this is why more governance is an okay thing (as long as it's not taken too far).
A lot of bad incidences happened in crypto community this year including:
1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi
All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?
1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi
All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?
I think that the very nature of cryptocurrencies (they exist on the internet) make it a valuable target for scammers due to its immense price in the market. Even if famous exchanges have their security running, they are always a target of scams and malware from hackers.
Now that there are various data about the reputation of exchanges being hacked, the only way to protect yourself is to be proactive. Take all the necessary steps in order to safeguard your cryptocurrencies in your local wallet in an exchange. For example, instead of keeping your BTCs inside an exchange, transfer them into an external storage/wallet for extra layer of security.
In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.
Opportunities for corruption can occur at any time, especially cryptocurrencies, the level of competition is very tight and makes developers sometimes impatient to compete in the market so that the best thing is with corruption, FTX will definitely think that the business they do will be safe and unknown to anyone, unfortunately when a test occurs Small then they just regained consciousness and difficult to refute the facts.
should gonna do.Make yourself prepared and always consider on taking up investment on which you are really that prepared for whatever things that might happen along the way.
Expect the unexpected yet this had been always the case specially on dealing with this crypto space where everything could possibly happen.
In a society, it is hard to do without corruption. This has gone to find itself in the crypto world do.. Investors just need numerous research when finding a real project.
Opportunities for corruption can occur at any time, especially cryptocurrencies, the level of competition is very tight and makes developers sometimes impatient to compete in the market so that the best thing is with corruption, FTX will definitely think that the business they do will be safe and unknown to anyone, unfortunately when a test occurs Small then they just regained consciousness and difficult to refute the facts.
A lot of bad incidences happened in crypto community this year including:
All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?
All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?
Let's face it, before the drop from 65k Bitcoin looked like the ultimate get rich quick scheme - everyone saw it storming up day after day, month after month, for several years. It was hard to go wrong and these schemes draw in all sorts of shysters and conmen. They had all the evidence they needed, in the form of a graph that trended up for a long time, to convince people that it made a great investment and they were able to skim off a commission in various stages. Obviously it's only when the bubble bursts that we see a vast swathes of people who really had no clue what they were buying and simply got swept up in the hype, unfortunately the greed that drove them in the first place means they will likely find it hard to cut their losses and run on the way down too.
Or are these unavoidable ?
Pay attention to the list of coins above, that the list of altcoins is managed by the team and we will experience the worst risk when they are greedy to sell the token allocation from the team wallet. The list of scam coins above is only part of the hundreds of scam coins that scammers create every day, the solution to avoid this problem is that don't invest in altcoins because the main factor for losses experienced from altcoin investments. So if you are involved investing in altcoins you have to be very careful to choose altcoin investments, I only believe in investing in ETH and BNB for the top altcoins. 
A lot of bad incidences happened in crypto community this year including:
1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi
All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?
1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi
All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?
No one is not greedy when it comes to dealing with large sums of money. After all, they are given the opportunity to control it in a centralized container and we still entrust the assets in it without ever thinking that every single incident will demand that other events be repeated. In the crypto world, you cannot trust anyone to secure assets other than yourself. Because of that greed is in each of us and will never disappear.
This phenomenon has occurred many times and we should have been aware of the risk since it entered a centralized container.
If the scammers are anonymous and haven't been caught out on the past then they can always return with another new identity once their old scam business have been busted out and not only newbies are affected here but even the people who have been here before or the people who already have experience may still get caught out by their scams if they change their approach because there is also pro crypto players who likes to venture new and risky stuffs thinking that no bad things will happen to them because they already have an experience in this field but they shouldn't be over confident and underestimate the ability of the scammers.
That's what they usually do, they end up scamming people and then get a new name and scam people again. It is clear that if someone realizes they could steal money from others and actually make a profit from it and nothing happens to them, they will keep doing that for a long time.I hope that we wouldn't see more scammers but as long as there are gullible people who fall for others, we are not going to really get less scammers. Hopefully one day we will see a lot less scammers but it will not be that easy and it will be a ton of issues at the same time. It's not something that can be stopped, and I am guessing that it's going to be a trouble forever.
The emphasis should be that people should stop giving centralized exchange the reason to gamble with their money in the first place. if there are fewer funds in cex, there won't be enough to mess around with.
Store your funds in your personal wallet. These people became corrupt because of investors' indifferent attitudes toward risk management.
Imagine somebody putting their life savings in crypto and in one centralized exchange. How smart is that
Store your funds in your personal wallet. These people became corrupt because of investors' indifferent attitudes toward risk management.
Imagine somebody putting their life savings in crypto and in one centralized exchange. How smart is that
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