You could lose your money - page 2. | Bitcointalksearch.org

Oshosondy

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Quote from: MCcryptonia on March 06, 2021, 11:42:39 AM

You can remain a newbie for long if not forever if you don't have problem with the following

1. Cloud mining

The bitter truth is none of these so called cloud mining are real, they have no proof that they own any mining farm or whatsoever and later they will exit scam on you while you least expected, what 99% of them do is running ponzi schemes, paying B with A invested money or coins

99% or more are scammers, there are like 1% or less that are legit, but the thing is that they are not profitable, it takes long time to earn profit, I have not tried it before because I do not want to lose, but according to what I have heard is that the profit is not constant and the earning will be reducing in a fashion you will not earn like you thought, it is like a deceiving scheme. The remaining ones which are 99% or more are absolutely scam, they are people that will pretend to mine for you but go away with your money and never come back.

posi

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Quote from: MCcryptonia on March 06, 2021, 11:42:39 AM

You can remain a newbie for long if not forever if you don't have problem with the following

1. Cloud mining

The bitter truth is none of these so called cloud mining are real, they have no proof that they own any mining farm or whatsoever and later they will exit scam on you while you least expected, what 99% of them do is running ponzi schemes, paying B with A invested money or coins

In my opinion Could mining is never a good investment to begin with cause it was technically created to enrich the owner why the investors money are used to achieve it and also put into certain unreasonable condition.
Even some cloud mining site like Genesis Mining which was said to be legit end up scamming their investors. ,

Quote from: MCcryptonia on March 06, 2021, 11:42:39 AM

2. Gold backed tokens

They always claim they have reserve but there is nothing to show for it, also I believe it's almost too good to be true when a project promised that their tokens can be exchange for real gold, really? Just like that? Tokens are dirty cheap to build, so why change that for gold easily?

Do you know how many real gold companies that exists in the world today? No single one of them tokenized their company assets, it's just our wishes that they are true but mind you be careful what you wish for

You make a point here and I have once created a thread before where I did diligent research about crypto related project that claimed to be Gold backed token but lied if you know any please list there name so I can do some research about the project. Despite the lies of some precious metal backed project there are still some genuine precious metal back project which give real gold to people in exchange for their token but most previous metal backed project don't do that.

MCcryptonia, you ought to change this topic as you are advised earlier.

Upgrade00

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Quote from: MCcryptonia on March 06, 2021, 11:42:39 AM

You can remain a newbie for long if not forever if you don't have problem with the following

This could be changed to; "you could lose your money", rather than remain a newbie as such potential scams are not directly linked to the forum ranks or Bitcoin.
All users in the crypto space should be conscious of scams and take steps to protect themselves.

HashingTower

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There are many use cases in crypto space that's aren't supposed to existed in the first place because they aren't needy at all, it's why many still don't trust USDT and other as big as they are, there is nothing to prove that they actually have a reserve for their stable coin but all we have left is SEC regulation, it's why I trust BUSD too, authority won't let them operate without legalizing the business

MCcryptonia

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You can easily lose your hard-earned money if you plan to invest on the following

1. Cloud mining

The bitter truth is none of these so called cloud mining are real, they have no proof that they own any mining farm or whatsoever and later they will exit scam on you while you least expected, what 99% of them do is running ponzi schemes, paying B with A invested money or coins

2. Gold backed tokens

They always claim they have reserve but there is nothing to show for it, also I believe it's almost too good to be true when a project promised that their tokens can be exchange for real gold, really? Just like that? Tokens are dirty cheap to build, so why change that for gold easily?

Do you know how many real gold companies that exists in the world today? No single one of them tokenized their company assets, it's just our wishes that they are true but mind you be careful what you wish for

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