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As unfortunate as this is, you could replace “cryptocurrency” with pretty much any noun and find a time in history when that was the macguffin in vogue. Today i
by madaxe_again 4y ago
As unfortunate as this is, you could replace “cryptocurrency” with pretty much any noun and find a time in history when that was the macguffin in vogue. Today it’s cryptocurrency, as it’s the mysterious new thing that all the young people are getting rich with, say the press.
There will always be confidence scams, as long as there are humans.
- psychoslave 4y ago> There will always be confidence scams, as long as there are humans. Maybe, but the question is more about which rate of a population will be exposed to such a risk. With proper politics, you can definitely limit these risks for the general public.
- ajsnigrutin 4y agoYep, but "all the other scams" are not as newsworthy as "the new thing"
- criddell 4y agoWhat are some examples? To me, this feels a lot more widespread than things like typical pyramid schemes. Celebrities doing cryptocurrency commercials, baseball umpires being sponsored by cyrptocurrency exchanges, crypto machines in the grocery store. It's nuts.
- lupire 4y agoThat's because the Internet inflates and accelerates every popular thing.
- interestica 4y agoWhoa. I didn't realize the umpire patch was crypto related. That's almost like it's subliminal placement.
- usrn 4y agoAdjustable rate loans. People lose their life savings and credit over nonsense all the time with those. Now you have al these YouTube "experts" telling eachother to take HELOC loans to buy investment property.
- jimsmart 4y agoAnother examples of a popular modern confidence scams is the refund scammers. They pretend to be from Amazon, McAfee, Norton, Microsoft, etc., and tell you that a charge has been made, offering a refund. Or they claim hackers are on your computer. Then they install remote access software, and trick you into making bank transfers or buying gift cards. Personally I think these con-artist scams are more widespread than typical pyramid schemes. But perhaps that's just selection bias on my part, because of the folk I know and the media I consume.
- ghaff 4y agoThings got pretty crazy in the original dot-com boom. Different for various reasons; you probably didn't have the same religious fervor around dot-com stocks. But there was also a similar vibe of "These stock prices are insane but everyone else is getting rich of them."
- deleted 4y ago[deleted]