Would you still invest in Crypto related projects, if you know it was a scam?

chenille

full member

Activity: 428

Merit: 172

chenille!

Quote from: Kprawn on September 16, 2018, 03:42:32 AM

Would you still invest in something, even if you know it is a scam?

Of course no, I would not invest my money, if I know a project is a scam. Otherwise it would be dumb to risk any money for doing it. Scams are usually trying to look legit, except some ponzis/pyramid schemes which speculate to earn money from people who are doing this as a business to try entering first and get paid out. I don't think it's profitable for them, maybe they are naive, I don't know.

If I invest in a known scam I would hand out my money to the scammers (they always make profit in a scam).

tunapa

jr. member

Activity: 667

Merit: 1

Anyone that does that is simply wiling to dash out his/her money. However, humans don't really learn from mistake of the past and still repeat it again. Sometimes people just want to see and test the waters if it's deep or not even after feelijgbor hearing it's scam and still think maybe it can be a real one just for the profit. This is simply why humans keep falling repeatedly for same form of traps.

pixie85

hero member

Activity: 2128

Merit: 524

I would like to say no but it wouldn't be honest of me. I'm greedy and I probably would invest if I knew that other people don't know about it. If there was a chance for me to make money I would take it and wouldn't look back at others. I wouldn't promote a scam project or advise others to invest but if there was money to be make for me I would invest, even if I knew other investors will lose.

kamBlanV

full member

Activity: 441

Merit: 100

Bcnex - The Ultimate Blockchain Trading Platform

yes, I will always invest in ICO, and then choose some legit projects again. I ever become a victim of a scam project, but I never stopped investing, I just set the quantity of the value of my investment.
and now I have never invested more than 5 ETH.

trashman43

full member

Activity: 298

Merit: 100

Why will anybody want to invest in a project which is likely to be a scam?.. I don't think i will be interested in investing in a project which has the probability of being a scam. If you want to risk loosing your money, you can invest in such projects.

jonsky05

jr. member

Activity: 229

Merit: 1

🔰FERRUM NETWORK🔰

If course not because its scary to join a scam project you will not know if project will harm you or not. There's so many project that you can join but on a scam project. It's easy now to know if the project is scam so be vigilant.

Olayinka225

jr. member

Activity: 322

Merit: 1

It's most time not quite east to very detect a particular crypto project is scam in this age. But if by chance one should know this project am about to invest my treasure into is a scam or probably going to be a scam, then I see no wisdom in it if such person still go ahead and invest in it. But sometimes, just that this crypto of a thing is sometimes funny in that, some scam project miraculously turns out to be $$$ project.

aray80

member

Activity: 420

Merit: 10

Up course not, Of the many fraudulent scam projects that trap investors is by utilizing what is not known to investors so that this fraud project will continue to grow as long as they have the opportunity

emberbekas

legendary

Activity: 1904

Merit: 1000

Quote from: Kprawn on September 16, 2018, 03:42:32 AM

A few years ago, we had the "Cloud mining" phenomenon and most people were warned that it was a Ponzi scheme, but they

still invested. A Ponzi scheme is a form of fraud in which a purported businessman lures investors and pays profits to earlier

investors using funds obtained from newer investors. Source : https://en.wikipedia.org/wiki/Ponzi_scheme

I still see some of those types of schemes around, so I was wondering if these schemes has changed their business model or

if people are knowingly investing in these schemes. Huh

I know Ponzi schemes are legal in some countries, but most of these schemes are advertised globally, so they should not be

legal in countries where they are classified as being illegal. Undecided

Would you still invest in something, even if you know it is a scam?

I used to participate in cloud mining a couple years ago. I was a beginner at that time and had no experience when I was involved in a ponzi scheme like that. I was scammed once and after that I never touched the ponzi scheme anymore. So, if I know that a type of investment is fraudulent, I am very sure I will keep away from it!

St4yInTh3D4rk

sr. member

Activity: 686

Merit: 264

"STAY IN THE DARK"

First of all,I will never invest on the cloud mining sites again because I understand that most of the cloud mining sites were scam and the few legit are also not worth to invest.

When I come to know about the crypto project is scam I wo't invest on it unless I found that I can make money out of it too.

brooklynian

member

Activity: 392

Merit: 10

This is a type of situation we will continue to have until the fraudsters are no longer interested in defrauding people any longer. People are mainly caught by this unreasonably outrageous profit that these fraudsters use to entice them and no longer care about any warning signals.

fulmetal08larz

full member

Activity: 476

Merit: 124

Well, it depends actually on the investor. Before investing, do some research about that project first, assess the community and the team behind it. Also, invest only what you can afford to lose. Maybe if they are lucky, they could be one of those who will profit as early investors. If they are not lucky, they they have to learn the lesson from that mistake and be a better investor. Personally, I'll decide whether to invest or not after doing my research and risk only if its worth it.

muchachita14

jr. member

Activity: 79

Merit: 5

No! You should not invest. When you make this kind of investment even you know it was a scam which you should never do, you are speculating. This is not a useful activity. You’re playing a psychological, win-lose battle against other humans with money as the sole objective. Even if you win money through dumb luck, you have lost time and energy, which means you have lost.

Flor1982

full member

Activity: 714

Merit: 100

Only a fool will invest to a known scam projects if we already knows that our hard earned money will only be steal. We invest so that our money will grow into possible multiple folds but not just to be steal by this scam people therefore if the people are afraid to join Crypto because it is very risky then they should more afraid if they already know that the project that using crypto currency platform is a scam.

Starkick

jr. member

Activity: 588

Merit: 5

Isn't any mining process a pyramid? But nevertheless more and more people do it in order to get more money.
SO here's the answer to your question. People are ready to anything in order to get rich.

maxreish

sr. member

Activity: 1330

Merit: 326

I understand your logic here. Some may still support the project because they will still benefit from it. Though it may be silly to support a known scam projects, many are intendly blind by supporting it like promoting it, joining, etc. But if i were to ask, i wouldn't waste my precious time with the useless fraud projects.

BrewMaster

legendary

Activity: 2114

Merit: 1292

There is trouble abrewing

it will all come down to that "knowing" part in my opinion. in most cases you don't exactly KNOW something is scam until it is too late. for example i didn't know Bittrex, cryptscy, ... were scams and i still lost money. obviously if i "knew" they were scams i would have never put my money there!
we always have suspicions about these services that they may be scam but we can never know until it is too late.

of course there are "obvious scams" that others are mentioning but those are too obvious and i personally will stay away.

AdoboCandies

full member

Activity: 680

Merit: 173

Giggity

Of course not, who the fuck would do that why would you waste some money on some garbage scam, but no one knows because if you are earning money through that why not, but how would you know that project is a scam in the first place you need a better understanding in the thing you are investing, nowadays many people are getting scam so easily because the scammers are getting intelligent while the people are getting dumber falling for their petty scam.

coolcoinz

legendary

Activity: 2618

Merit: 1103

Quote from: ?? on ??

There is a literal Ponzi scheme in the Altcoin section going on right now, the creators acknowledge it as scam yet all the news accounts are hyped. 3% a day for life they keep saying and calling themselves investors. I have ran out of energy trying to convince them.

At least your conscience is at peace and those poor souls who ~~invest~~ pay the scammers won't be able to say that nobody warned them.
Greed is part of every human. I'm also no longer arguing with cloud mining enthusiasts. It's a waste of time. Half of them didn't believe me and the other half ignored it.

Andruha1993

jr. member

Activity: 1008

Merit: 1

A couple of months ago, I invested in similar projects. But now I realized that nothing good can come of this, and therefore I do not invest any more, since I consider almost 85% of scam projects.

Topic: Would you still invest in Crypto related projects, if you know it was a scam? (Read 485 times)