Bitconned does a very good job of putting the crypto contradiction of trusting nobody but the least trustworthy on full display. All those sucker 'investors' who were told not to trust banks or the government instead put their full faith and credit into the hands of a drug addict's Potemkin company.
Even for those of us who have watched this play out again and again it is always shocking to see just how flimsy these scams are -- the clearly fake profiles and partnerships, quid-pro-quo promotion from unqualified celebrities, an idiotic and plagiarized business plan. Yet they managed to raise millions from the 'skeptical' masses who refuse to place any trust actual institutions with real assets.
The Centra scam really encapsulates the entire Crypto cycle quite well -- these flunkies raised money off the back of a man who predicted a collapse of the western financial system -- and of course it turns out the only financial institutions that collapsed were house of cards crypto companies he promoted.
How people keep falling for this I'll never understand.
Even for those of us who have watched this play out again and again it is always shocking to see just how flimsy these scams are -- the clearly fake profiles and partnerships, quid-pro-quo promotion from unqualified celebrities, an idiotic and plagiarized business plan. Yet they managed to raise millions from the 'skeptical' masses who refuse to place any trust actual institutions with real assets.
The Centra scam really encapsulates the entire Crypto cycle quite well -- these flunkies raised money off the back of a man who predicted a collapse of the western financial system -- and of course it turns out the only financial institutions that collapsed were house of cards crypto companies he promoted.
How people keep falling for this I'll never understand.