America’s basement dwellers claim they invest in Crypto. OK. I wish them the best of luck.
A whopping 99% of all Crypto Coin launches have always been and are so today Rug Pull Operations, or pump and dump schemes. With little risk of doing real prison time, computer programming punks world wide are copying Bitcoin blockchain source code and conning the general public out of billions of dollars. Dubai is the current hub of much of this activity. There, organized crypto gangs are operating with impunity.
The scam: Create a Coin, Market it as having some dubious value to humanity, set the coins allotment amount…say 10 Billion Coins, give yourself(the scammer) 51% of the coins, give your computer programmers and influencers a cut, then hype the coin to high heaven and then dump, dump, dump, making millions before America’s basement dwellers catch on. Heck, anybody can do it!
In fact over 17,000 scams are currently running world-wide.