Topic: Deleted due to compromised account (Read 149 times)
Seems to me that NASAA is lumping the many frauds and scams in the cryptocurrency industry with the few legitimate ones. While we should acknowledge that cryptocurrency investing can indeed be very risky in comparison with other investment vehicles, there is also no denying that top cryptocurrencies are giving the best ROI so far. I think it should be clear that there are indeed many ponzi schemes in this industry and they are here to exploit the newness and the interest plus some trust that people are bestowing to cryptocurrency. However, these scams should not be defining this industry in the same that famous and big scams in the past (remember the Madoff case?) should not be the definition of the very industry they are playing.
I don't think it's such a great news. For one, the article stated that Bitcoin or any other cryptocurrency are used mainly to fraudulent acts, which would steer people out of cryptocurrencies without actually knowing about it first.
And for those people that invests in cryptocurrency as per the article, they must have invested not because they believe in the technology, but because they are promised of high returns by scammers in the market, such as HYIP and Ponzi schemes.
Unless true market adoption has been evident, we're stuck at being looked at a tool for illegal, gambling, and scamming tool. Though there are adoptions undergoing, there are still who opposes (on Bitcoin and other altcoins), such as the 2 superpowers, China and US.
And for those people that invests in cryptocurrency as per the article, they must have invested not because they believe in the technology, but because they are promised of high returns by scammers in the market, such as HYIP and Ponzi schemes.
Unless true market adoption has been evident, we're stuck at being looked at a tool for illegal, gambling, and scamming tool. Though there are adoptions undergoing, there are still who opposes (on Bitcoin and other altcoins), such as the 2 superpowers, China and US.
Deleted due to compromised account
Jump to: