13 ms·

The TL;DW is that people are stupid, and they do what “influencer” clowns tell them to do, with zero critical thought.

smcl 4y ago
This was exactly my thought. I have no idea how adults are following Logan Paul and dropping tens of thousands of dollars on his obvious crypto grift. I cannot wrap my head around it, I thought his audience was young, impressionable zoomers. It wasn't even his first crypto scam! He'd already run thru the same thing with "Dink Doink" (which iirc Coffee mentions in the video). It's incredible.
- LarryMullins 4y ago
  Highly likely that a substantial portion of the victims, maybe even the majority, knew it was a rug-pull scam but thought they could get in, make a profit and get out before everybody else got screwed.
  - smcl 4y ago
    That's definitely a possibility. If so, very expensive lesson to learn.
  - wpietri 4y ago
    There's an old line that you can't cheat an honest man. It's not always true, of course. But one of the most reliable source of marks is people who are looking to get something for nothing.
    - spamizbad 4y ago
      Many of the cons run on “Better Call Saul” rely on this premise.
  - yummypaint 4y ago
    Yeah i wonder about this too. I think the popular perception is that his followers are particularly young and impressionable, so if the actual investors in the scam tended to be older it lends weight to that idea. There is an old saying that "you can't con an honest man."
runarberg 4y ago
I think this view is giving a free pass to the malicious psychological manipulation involved by the scammers, in other words, victim blaming. Anyone can be a victim of a scam, and nobody is at fault for falling for a scam except the scammers and the lax law enforcement around it.
- LeoNatan25 4y ago
  I agree, but there are different levels of scam, and this isn’t a particularly complex one. Very little was required from the conned to figure out it’s a scam; e.g., the involvement of the “NFT” concept.

smcl 4y ago

This was exactly my thought. I have no idea how adults are following Logan Paul and dropping tens of thousands of dollars on his obvious crypto grift. I cannot wrap my head around it, I thought his audience was young, impressionable zoomers. It wasn't even his first crypto scam! He'd already run thru the same thing with "Dink Doink" (which iirc Coffee mentions in the video). It's incredible.

LarryMullins 4y ago
Highly likely that a substantial portion of the victims, maybe even the majority, knew it was a rug-pull scam but thought they could get in, make a profit and get out before everybody else got screwed.
- smcl 4y ago
  That's definitely a possibility. If so, very expensive lesson to learn.
- wpietri 4y ago
  There's an old line that you can't cheat an honest man. It's not always true, of course. But one of the most reliable source of marks is people who are looking to get something for nothing.
  - spamizbad 4y ago
    Many of the cons run on “Better Call Saul” rely on this premise.
- yummypaint 4y ago
  Yeah i wonder about this too. I think the popular perception is that his followers are particularly young and impressionable, so if the actual investors in the scam tended to be older it lends weight to that idea. There is an old saying that "you can't con an honest man."

runarberg 4y ago

I think this view is giving a free pass to the malicious psychological manipulation involved by the scammers, in other words, victim blaming. Anyone can be a victim of a scam, and nobody is at fault for falling for a scam except the scammers and the lax law enforcement around it.

LeoNatan25 4y ago
I agree, but there are different levels of scam, and this isn’t a particularly complex one. Very little was required from the conned to figure out it’s a scam; e.g., the involvement of the “NFT” concept.