It depends on how much knowledge I'd have. If I was sure that it's a scam or was an insider i'd definitely not invest and avoid it. I'd also make sure potential investors know about it. That's what I used to do in the shady cloud mining threads.
If It was all rumors with no substance and the investment looked promising I might try it out. It would all depend on my gut feeling at that point.
Topic: Would you still invest in Crypto related projects, if you know it was a scam? - page 2. (Read 485 times)
September 16, 2018, 09:23:53 AM
September 16, 2018, 09:13:52 AM
Definitely not at all.. Why should i waste my money if i knew it is a scam project.. Its hard to deal with that unless you have enough money and not even bother how much you can loss..
September 16, 2018, 09:00:57 AM
If I know the projects I'm investing in are fraudulent, I will check the information and verify their eligibility then decide to stop investing. and how about you?
September 16, 2018, 08:55:28 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.
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.
Would you still invest in something, even if you know it is a scam?
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.
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.
Would you still invest in something, even if you know it is a scam?
I used to.
Because i know many people will get scamed and i can get profit from it (even i also can be the target that scammed)
But now, i realize that that's not good and make an opportunity the grow a scammer. So i stopped
September 16, 2018, 08:28:03 AM
But the fact is most of these ponzi scheme are profitable to early adopters before their pool runs out of money, many are investing simply believing their money could be retrieved when its some sort of hyped, and they might be able to at least earn a few percent more of what they are investing, ponzi scheme wouldn't simply get off simply because of its attractive bonus over a period of time
September 16, 2018, 08:20:14 AM
HYIPS and MLM schemes are the better example for the question
bitcoin itself is not a scam but there are individuals using the currency to create pots of btc coin hoardings and then juggling this small stash they hold to try keeping in as many victims as possible while siphoning out profits to a few lucky exiters
and yes many fools do invest in them even when being fully aware that they are scams. their mindset is that if they are first-in they can exit being first-out with the fruits of other people entering them schemes and as such the early exiters are not the victims
bitcoin itself is not a scam but there are individuals using the currency to create pots of btc coin hoardings and then juggling this small stash they hold to try keeping in as many victims as possible while siphoning out profits to a few lucky exiters
and yes many fools do invest in them even when being fully aware that they are scams. their mindset is that if they are first-in they can exit being first-out with the fruits of other people entering them schemes and as such the early exiters are not the victims
September 16, 2018, 08:15:43 AM
Good question by the OP because to me I get the impression that some
people would do or chance anything in order to increase their wealth and
especially so in crypto. I suspect some people are taking the gamble because
of the decentralised nature of crypto and it difficult to trace movements.
Personally, I wouldnt. My thinking is that I would only be feeding the scam
culture and risk loosing what my stake.
people would do or chance anything in order to increase their wealth and
especially so in crypto. I suspect some people are taking the gamble because
of the decentralised nature of crypto and it difficult to trace movements.
Personally, I wouldnt. My thinking is that I would only be feeding the scam
culture and risk loosing what my stake.
September 16, 2018, 08:08:34 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.
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.
Would you still invest in something, even if you know it is a scam?
Why would I invest if I know in the first place that its a scam. If you are in the right mind you probably say no in this kind of question. You risk and then you may regret it in the end because you have been scammed. But I think some people will always choose to invest knowing that its a scam. 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.
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.
Would you still invest in something, even if you know it is a scam?
September 16, 2018, 07:15:28 AM
if it's a scam, why do people invest? surely the money we invest will be in vain, if I choose not to do it myself
September 16, 2018, 07:10:41 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.
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.
Would you still invest in something, even if you know it is a scam?
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.
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.
Would you still invest in something, even if you know it is a scam?
It's not so easy to find a ponzi scheme.Most ponzi schemes hide behind terms,such as "MLM business" or "affiliate marketing".You know that all the only people,who lose money from a ponzi scheme are the ones that invest in the end of the scheme.The early investors can still get some profits.That's why there are still people,who believe they can make some easy money with this.
No,I would never invest in a project,that is a well known scam.
September 16, 2018, 07:05:28 AM
i remember a lot of those cloudmining scams. a while ago they were like the most popular thing to create. every week we had at least one new one coming out and they were obviously scams.
i never invested in any of them but i made sure to use those which were "giving away money"! usually some of them to gain some attention they were giving away hashrate which mined for you and paid out. i made a small amount of money doing this. of course most of them started forcing you to invest before you could cash out but that came later
i never invested in any of them but i made sure to use those which were "giving away money"! usually some of them to gain some attention they were giving away hashrate which mined for you and paid out. i made a small amount of money doing this. of course most of them started forcing you to invest before you could cash out but that came later
They learned from people like you who took advantage of their money shower.
Taking free money is something else. It's not being a part of it, it's seeing through it and being smarter.
What about people who unknowingly promoted these scams by posting referral links? Some of them had signature campaigns. There's a thin line between being fooled by the scammer and unknowingly becoming one.
September 16, 2018, 07:01:14 AM
Unfortunately there are countless newcomers in crypto world, mostly from poor countries and mostly with very poor understanding of the English language. Scams projects also evolving and work on a different approach to new potential users, most simple way is to pay selectively and thus maintain the semblance of legality among users. Imagine Bob say it is get nice pay from project, he share that with Alice and Amy and they share with Tom and Billy - some of them will also get pay, but what is important that they will also share that with others. At the time some project is marked as SCAM it is too late, owner is fill his pocket with money and after some time starts again with new project.
I would never invest in any project that is suspicious, and certainly not if it is a scam//fortunately I know how to recognize them and so far I keep my money safe.
I would never invest in any project that is suspicious, and certainly not if it is a scam//fortunately I know how to recognize them and so far I keep my money safe.
September 16, 2018, 06:36:16 AM
OP, your question really differs from your post content. For me, I never really believed nor invested in cloud mining. I mean, mere looking at it, you would understand that they are not being straight forward. The only thing that draw people who don't really know about them is their fake promises and contents. Sometimes the lucky investors in cloud mining are the early investors, late in comers lose their money in it.
September 16, 2018, 06:59:29 AM
i remember a lot of those cloudmining scams. a while ago they were like the most popular thing to create. every week we had at least one new one coming out and they were obviously scams.
i never invested in any of them but i made sure to use those which were "giving away money"! usually some of them to gain some attention they were giving away hashrate which mined for you and paid out. i made a small amount of money doing this. of course most of them started forcing you to invest before you could cash out but that came later
i never invested in any of them but i made sure to use those which were "giving away money"! usually some of them to gain some attention they were giving away hashrate which mined for you and paid out. i made a small amount of money doing this. of course most of them started forcing you to invest before you could cash out but that came later
September 16, 2018, 06:27:18 AM
The problem with cloud mining is that they were functioning and paying and people weren't able to prove that they were ponzi schemes. There were some circumstantial evidence like no proof of mining, no addresses, but at the same time some of the companies had pictures of their hardware. I understand people who bought into it out of greed and lack of hard proof.
If I knew that a project is a scam I wouldn't invest in it. If there were some people saying that it's a scam without proving it, I probably would.
If I knew that a project is a scam I wouldn't invest in it. If there were some people saying that it's a scam without proving it, I probably would.
September 16, 2018, 06:19:44 AM
People knowingly invest in scams on a premise that majority of other investors don't understand that it's a scam (otherwise it wouldn't be profitable). The ICO market is even better case than cloud mining, tons of people understand that ICO's are either scams or crap, still they invest and trade because it can be so profitable. With hyips more people understand that they are investing in scams, they just assume that they are early investors.
September 16, 2018, 06:01:46 AM
Definitely, if I am to invest in a particular ICO, I would see to it that I had done the first steps like reviewing and researching about the ICO so that I could atleast assure that I am not investing in scam ICO's. In the event that I could notice something which could made me doubt, therefore I would definitely not continue just to be safe.
September 16, 2018, 05:52:32 AM
to be honest i would say it depends!
for example if it is one of those investment scams like ponzis or ICOs then no i wouldn't bother with them at all. but if it is a pump and dump altcoin then i would invest.
and it is not just because i think i can beat the pump scam but because i have tried before many times and i know i can make profit from the pump and dump altcoin scams. that is how my trading strategy has been for the past year or so!
for example if it is one of those investment scams like ponzis or ICOs then no i wouldn't bother with them at all. but if it is a pump and dump altcoin then i would invest.
and it is not just because i think i can beat the pump scam but because i have tried before many times and i know i can make profit from the pump and dump altcoin scams. that is how my trading strategy has been for the past year or so!
September 16, 2018, 05:46:08 AM
yeah, good points. I have noticed this too. there are still a lot of people who have the mindset of "getting in early to beat the scam system and make profit"! it doesn't make any sense to me. I may be able to justify those ICO investments that aren't clearly scam but there are cases like the HYIP scams that I can never wrap my head around. for example if you visit the Investor-based games board you can see that there are still scams going on there although their popularity has dropped compared to previous years.
I think it is based on the same mindset that gambling is based on. You take the gamble that it will not implode whilst you are
in it, but the greed drives your motive to do it.
They say the Japanese are more likely to take bigger chances on theserisky investments, because they have a gambling culture. (Tell me if I am wrong.) If you think about Bitcoin, then you might
agree that it is a gamble too, because it is classified as a high risk experiment.
September 16, 2018, 05:33:24 AM
Would you still invest in something, even if you know it is a scam?
No it's a big mistake to continue investing in a scam project which is much better to hold bitcoin instead . 'cause your just wasting money on it , unlike in bitcoin that surely you can gain profits rather than investing in some projects which is 50-50 chance to gain a return at the end. Jump to: