How To Spot And Handle a Crypto Scam Without Big Brother

Episode Highlights:

  • 00:03 – Crypto And Ico Scams
  • 00:45 – Google Search
  • 03:28 – How You Can Spot Cryptocurrency Scam

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Transcription:

Hey, what’s up, guys? It’s Dan from crypto Camacho

00:03 – CRYPTO AND ICO SCAMS

And hey guys today, I really want to just talk about scams. I mean I want to talk about crypto scams and ICO scams, and really any scam in the industry in the cryptocurrency industry right, in the Blockchain space, if you will. Why do I want to talk about scams? Well, scams have been kind of rampant in the cryptocurrency community, in the cryptocurrency space. we have seen a lot of scams whether they’ve been in the form of ICOs, whether they’ve been in the form of bit connect, whether they’ve been informed in the form of lending or high yield performance programs. Whatever they may be, there are scams right in the cryptocurrency community. But you know what? There are scams everywhere guys. And today I want to kind of break down a few things about scams in the cryptocurrency space.

00:45 – GOOGLE SEARCH

If you just go to Google, just search crypto scams. You’re going to come up with all kinds of different warnings about cryptocurrency scams right. Belgium government launches site to warn crypto investors about scams and packing the five biggest cryptocurrency scams. Beware of the crypto investment scam. Nine million a day and lost in cryptocurrency scams right. Scams, scams, scams, it’s all I hear about in terms of cryptocurrency, Bitcoin,

Blockchain that it’s just infested with scams right. Same thing goes for ICOs. ICOs are scams across the board right. How to not be scammed by an initial coin offering; How to create an ICO scam in five simple steps; actually I was teaching you how to make a scam right. Don’t believe the hype five largest ICO exit scams. Exit scammers run off with 666 million in ICO earnings right. SEC launch a spook cryptocurrency ICO scam website and it goes on and on and on and on right. The truth of the matter is that anybody can create a website like this and say how can you create a scam in five simple steps. The truth is it’s not that hard to create any kind of scam right. Any scam no matter what it is, if you want to take advantage of somebody, you will do it. If you want to exploit somebody or a group of people, you will do it right. There’s really not much anybody can do about predators that you know are trying to scam and take the money from other people. There’s really not a whole lot you can do right. But we live to in a society where you know the SEC, the government, Big Brother you know any institution in the government now, is considered kind of your big brother taking care of you looking out for the little guy, looking out for you know people that can’t let necessarily look out for themselves. And the SEC in the United States, they’re touting the benefits of crypto regulation right investigations by the SEC signal crypto and ICO regulations right. SEC chair Jake Layton applauds US Canada ICO scam crackdown. And that goes on and on and on and on right. And of course, the government is going to you know beat all four regulations. Why? Because it increases their power right; when they can regulate, they actually need people to legislate and to actually enforce the regulations that they create right. It’s called job security. It’s called keeping your power, maintaining your power that you already have right. That is what it’s called that’s kind of the name of the game. And any type of organized institution, whether that’s a corporation, whether that’s a government entity, whether that’s a financial institution, there is going to be some level of corruption. There is going to be some level of people trying to scam other people right. That’s just the reality of the world. That’s just a reality of kind of humanity in a way right.

03:28 – HOW YOU CAN SPOT CRYPTOCURRENCY SCAM

And so, what I really want to talk about is how can you actually spot a scam right? Like how can you spot a cryptocurrency scam? I mean there are obviously some things that are very obvious right. You’re looking at the team and the team doesn’t actually exist, that’s an obvious way to spot a scam right; Looking at the promises of the company, of the ICO, of the cryptocurrency. If they’re too good to be true, then it may be a scam right. Looking at the returns on investment, the promises of how much money you’ll make in return that could be a scam right. But at what point do you actually take responsibility for yourself, and for your own being, and for your own family and loved ones, and say you know no matter what comes my way, no matter how sophisticated, no matter how clever you know I’m going to be responsible for my own actions right. And if I do fall victim of a scam, it’s likely because I have not spent enough time looking into or researching whatever it is that I’m putting money into or buying, or whatever right. I was talking to my friend the other day, who works for a large financial institution right. He does financial advice, he does investment advice so forth and so on right. And you know that you need to be licensed very; very heavily. You need a series 7, you need I don’t know a variety of different credentials, if you will to work in the financial sector within the United States right. The SEC keeps a very tight grip on the folks that do financial advising, that do Investment advising so forth and so on. Why? Because they don’t want the little guy to be scammed right, they don’t want people to get take advantage of taking advantage of right. Well, that is all being flipped on its head with cryptocurrency and at some point, the SEC, the government’s are going to have no power from a lot of these scams that are taking place. And at what point do you ask yourself you know when are you actually responsible for the decisions that you make right? and I can’t help but think about you know Bitconnect and the whole Bitconnect scamming and Fiasco and pyramid scheme and that was a mess right. That was a huge, huge scam. The one of the most elaborate and crazy scams of the cryptocurrency revolution right and in recent times, it was probably the biggest scam that affected probably the most amount of people. And there’s also you know different court cases now that are actually looking at you tubers, and looking at social media influencers and people that are really just talking about Bitconnect. And there’s lawsuits happening you know trying to sue some of these people for talking about it so forth and so on. And you have these influencers talking about cryptocurrencies, talking about different ICOs to invest in, and different opportunities right. And the SEC can’t touch it, because why? Cryptocurrency right now it’s not very regulated. It’s unregulated. It’s the Wild West right. And if you believe in the power of cryptocurrency, if you believe in the power of decentralization, if you believe in the power of how cryptocurrency and Blockchain is going to disrupt society, it’s going to eradicate the ability for institutions to create regulations that in that are imposed on somebody else. So, when you think about that, you think about like you know how they…when do you actually take responsibility for your own actions right versus relying on somebody else. And doing what they said and falling victim to maybe some scam or maybe losing money in the investment. What is in blaming that person right? it is you that makes a decision. The reason I’m bringing this up really guys is because I review a lot of different cryptocurrencies, you can see in my background here that there are a lot of videos. And in a lot of these videos, I talk about specific cryptocurrencies, specific ICOs, specific tokens, specific technologies right. and I want you to know that it’s very possible that some of these one day may end up either a not panning out financially, and may not make the thousand percent return that you are expecting as you invest in an ICO right or it is very possible that you know one, two of these it may end up being a scam. I don’t know that but it is very possible right. I mean there are dozens if not hundreds of cryptocurrencies popping up every single day, all across the world. There is no way that all of these are legitimate. There is no way that all of these are you know completely honest. There is no way that all of these are going to make you millions of dollars you know like many people actually think. What I want to do is, I want to coach you guys. I want to educate you guys, I want to inform you guys about different ICOs, different cryptocurrencies, different opportunities that may present themselves in the market right, but ultimately it is your decision to make ,in the final decision about what you invest in, and how you invest right. It is you. It is not for me to decide, it is not for your mother to decide, unless maybe you’re under 18 then maybe this for your mother right. It is not for your sister to decide in some cases, it might be for your wife to decide. But that’s a topic in a video for a whole other time right. But I just want you guys to know that I am trying to do my best to filter these ICOs, I am trying to filter these cryptocurrencies, and I’m trying to filter these opportunities. But just like you and me, you know just like you I also listen to influencers, I also read the news, I also you know look at things in the different place and see what is going on in the…sorry guys I just got distracted. Somebody came to the door and waved at me and so sorry about that. But I am just like you guys I am trying to find opportunities, I’m trying to invest in good opportunities, and if one of those investments goes belly-up and I actually lose money, am I going to point the finger at the person I heard it from. and say oh I actually heard about that cryptocurrency on a blog that Trayvon Martin is actually posting on, and I decided to invest in it because I think Trayvon Martin knows exactly what he’s talking about and I believe him someone invested it. And let’s say I lost money. Should I be mad at Trayvon Martin? No that sounds kind of ridiculous right. It sounds actually pretty silly. When you actually stop and think about it, it sounds very stupid that…in the harsh language I apologize, but it sounds somewhat ignorant and naive. I guess if you will if you’re going to base your decisions on somebody who’s making a website or somebody on social media right. I mean a lot of people do this and it’s human behavior to do this. But just know that ultimately you are responsible for your own actions, for your own investments, for your own money. Do not rely on the SEC, on the government, on Big Brother, on some higher power or higher authority to protect you right. That creates red tape, it creates bureaucracy, it creates regulations that are unnecessary and it limits your freedom.

It limits the ability of what you can do. It limits what you can actually participate in right. If you look at ICOs right now, many ICOs that have huge, huge potential you know for opportunities to grow and make money, we can’t participate in because we’re in United States residents. Why? And because there’s a ton of regulations and the companies that are setting up some of these ICOs are just saying the hell with it, we aren’t going to let US citizens participate, because we don’t want to get sued. We don’t want to go to jail, we don’t want to get fined heavily, because they think we may be a scam right. So, the rant is over I’m done ranting, but I just had to make this video because I want people to know that there are scams out there. And I want you to know that you need to be cautious for yourself. Do not pin responsibility on somebody else because it is not their responsibility to teach you everything you need to know, to make an informed decision about something. They are a human just like you guys. Use your heads, use your brains, and invest wisely. Do not invest your life savings into anything except for maybe I’ll tell you that one next time right. Because it’s going to be good but I’ll tell you next time. I’m Dan from cryptoCamacho.com and hopefully you guys enjoyed this? Please let me know what you think about this. If things should be more regulated, less regulated, if you think you know influencers should be responsible for your actions. I don’t think they should, but let me know. Thanks guys for tuning in and I’ll talk to you next time.

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.