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This is not so much about crypto as it is about Moshe Hogeg. It is being alleged that he started various investor frauds, these companies are just a subset. In

This is not so much about crypto as it is about Moshe Hogeg. It is being alleged that he started various investor frauds, these companies are just a subset. In general, allegedly, he raises money for an idea... takes that money into raising money for the next idea... and so on. Only a small proportion goes into actual development, the rest seems to be spent on "consulting" and such. Also note that these currencies are really not Israel's most hyped anything. That's just the author's way of sprinkling some anti-Israeli spice. You don't see articles about (some obscure crypto nobody heard of) starting with "US's most hyped ....". Even when it's not obscure, you don't see Dogecoin articles start with such a sentence. It is irrelevant and incorrect.

jl2718 5y ago
I can’t understand why Doge is the brunt of all cryptocurrency criticism. It is fair to call it a joke, but it’s very different to call it a scam. First, there was no genesis allocation. Second, the creator didn’t even mine at all (well, I guess we don’t know). Third, there was no promise made that it would do anything it didn’t do at genesis, and even then it was one of the fastest adopters of what was considered new technology at the time. A scam would involve a genesis allocation to the founder/promoter, tax or staking rewards to them, aggressive early mining, promises that it would do something that it didn’t do, aggressive promotion to investors at inflated prices, minimal investment of founder rewards into development, and personal use of funds raised. That describes almost every major crypto project, including Doge because of large early rewards, but far less than almost anything else, and that was somewhat mitigated by constant inflation. It may also be fair to say that Doge was hijacked by just a few miners or wallet scammers on Reddit, or social media personalities. There are big problems with its distribution like any other crypto. Maybe your concerns are warranted, but if so, you should take a hard look at every other crypto, or startup, or stock.
- amitport 5y ago
  Hmmm I didn't mean to call doge a scam... It just an example of the common case where you shouldn't attribute specific cryptocurrency hype to a country. (And I didn't mean that hyped is necessarily a scam.)
- meowface 5y ago
  Dogecoin definitely wasn't created as a scam, and the creator seems totally legit and benign. But, unfortunately, anything with a "penny stock"-like quality is susceptible to manipulation from just about anyone, even if they have no affiliation with the project or its creators/developers.
MomoXenosaga 5y ago
Cryptocurrency is just the latest hype. In my time I have seen technology shares, teakwood plantations, Dubai real estate, gold and now bitcoin. There is a sucker born every minute as the saying goes.
Grustaf 5y ago
This article is from Times of Israel. Are you saying the Times of Israel is engaging in anti-Israel spinning?
- amitport 5y ago
  DK maybe it's just sensationalizatin. It a weird way to frame it in any case. Makes a little more sense if it's a paper focused on Israel.
  - Grustaf 5y ago
    It’s not weird at all. Israel is a small country, of course a paper about Israel will highlight a local story, that makes it much more relevant for their readers than a crypto scam in Indonesia or something.
    - amitport 5y ago
      It's just not "israel's most hyped initial coin offerings". "weird" may be a bad choice of word here. It's "newstainment" and it's the norm I guess.
- atatatat 5y ago
  They seem to, when it's a softball position. Keeps them seeming balanced, so when, say, a BBC Jimmy story pops up, they can nerf it.

jl2718 5y ago

I can’t understand why Doge is the brunt of all cryptocurrency criticism. It is fair to call it a joke, but it’s very different to call it a scam. First, there was no genesis allocation. Second, the creator didn’t even mine at all (well, I guess we don’t know). Third, there was no promise made that it would do anything it didn’t do at genesis, and even then it was one of the fastest adopters of what was considered new technology at the time. A scam would involve a genesis allocation to the founder/promoter, tax or staking rewards to them, aggressive early mining, promises that it would do something that it didn’t do, aggressive promotion to investors at inflated prices, minimal investment of founder rewards into development, and personal use of funds raised. That describes almost every major crypto project, including Doge because of large early rewards, but far less than almost anything else, and that was somewhat mitigated by constant inflation. It may also be fair to say that Doge was hijacked by just a few miners or wallet scammers on Reddit, or social media personalities. There are big problems with its distribution like any other crypto. Maybe your concerns are warranted, but if so, you should take a hard look at every other crypto, or startup, or stock.

amitport 5y ago
Hmmm I didn't mean to call doge a scam... It just an example of the common case where you shouldn't attribute specific cryptocurrency hype to a country. (And I didn't mean that hyped is necessarily a scam.)
meowface 5y ago
Dogecoin definitely wasn't created as a scam, and the creator seems totally legit and benign. But, unfortunately, anything with a "penny stock"-like quality is susceptible to manipulation from just about anyone, even if they have no affiliation with the project or its creators/developers.

MomoXenosaga 5y ago

Cryptocurrency is just the latest hype. In my time I have seen technology shares, teakwood plantations, Dubai real estate, gold and now bitcoin. There is a sucker born every minute as the saying goes.

Grustaf 5y ago

This article is from Times of Israel. Are you saying the Times of Israel is engaging in anti-Israel spinning?

amitport 5y ago
DK maybe it's just sensationalizatin. It a weird way to frame it in any case. Makes a little more sense if it's a paper focused on Israel.
- Grustaf 5y ago
  It’s not weird at all. Israel is a small country, of course a paper about Israel will highlight a local story, that makes it much more relevant for their readers than a crypto scam in Indonesia or something.
  - amitport 5y ago
    It's just not "israel's most hyped initial coin offerings". "weird" may be a bad choice of word here. It's "newstainment" and it's the norm I guess.
atatatat 5y ago
They seem to, when it's a softball position. Keeps them seeming balanced, so when, say, a BBC Jimmy story pops up, they can nerf it.