Cryptocurrency Investors Beware, The Crypto-Bubble Scam Begins

So I’ve been investing and looking into the cryptocurrency market and noticed a few problems and frankly have some concerns.

  • Technically anyone can make a “digital coin” or your own version of Bitcoin…
  • Well if you have source code and deploy your own coin, you can easly  mine billions of coins before anyone or have a certain advantage.
  • I am seeing people on ebay buy up any cryptocoin that is 5,000,000+ for 15-20$ at a time, thinking one day its going to be worth $1,000 each…
  • Obviously selling 5,000,000 of something that really isn’t worth anything or relevant and is not even top 10 crytocurrency is fishy…
  • You can download a wallet that already looks fishy (lol) that has a worm that steals backups of all your wallets silently.

Here where it gets fishy for me… I can download the source code too, change some images and compile source with customizations that will give me as much “currency” as I need. I can easy make claims on ebay or simular auctions sites that this is the next big cryptocurrency. If I charge people $15-$50 for 5 million and I have 1 Billion then I couldn’t mind selling it either and then disappearing.  You download my “custom” wallet that has a worm that steals backups of all your wallets. I run those backups and then funnel all your money back into my accounts.

People should be careful this is a really bad trend with this type of currency, if you decide to buy any make sure its top 10 or dont bother, they most likely wont make it unless they are designed to solve a problem within a niche market like sexcoin.

I am not trying to discourage the use of cryptocurrencies, I am asking that you be cafeful and make smart choices. People now days are ruthless.

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Miguel

I’m a bilingual Network Engineer. I have over 20 Years of Professional experience in Computer Science & Information Technology. I currently own and operate Web Semantics (www.websemantics.com) in Vancouver, Washington. I provide bilingual (English & Spanish) enterprise-level IT support to small and medium-sized businesses across the West Coast.

Soy un ingeniero de redes bilingüe. Tengo más de 20 años de experiencia profesional en ciencias de la computación y tecnología de la información. Actualmente poseo y opero Web Semantics (www.websemantics.com) en Vancouver, Washington. Proporciono soporte de IT/Informática bilingüe (inglés y español) a nivel empresarial a pequeñas y medianas empresas en toda la costa oeste.

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