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Fantastic video, thanks! I will be going to BitcoinAsia this year and I will be getting very combative with shitcoiners who show up. I was living in Hong Kong through the ICO nonsense, FTX, BitMex etc... lot of scammy shit in this city.
Here is 5 tips to avoid getting scammed / verify , verify , verify ! Double check url and be weary of unsolicited dm offering crypto advice / if it sounds too good to be true ….then probably it’s not true , like offering high yield investment with no risk / protect your seeds phrase / add extra layer security /enable 2FA / educate your self about crypto if you really want to deep dive .
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Interesting. I’m not making a comment about scam coins, but as a business founder, alt coins mirror identically how companies operate. Pre-mine (founders shares) you don’t launch a company and give away all your stock to third parties or make it available to buy. The founders always keep control of their company even sometimes after IPO. Business founders can also use their stock as a currency to pay early employees or anybody supporting their company. Forking, or pivoting in the business world. Many companies change their companies direction and operations. Hard cap on coins. Shares can be issued via “rights issues” in companies. This is often referred to as a stock split. Solutions, many companies exist, most copy other companies, only the really successful ones innovate, but their are many mid-tier successful companies that compete to provide existing services. I explain this with no agenda, only to point out how the business world works and it’s similarity, probably intentional, to alt coins. Finally, there are scams in the business world, but most startups are not.
↩ replying to mike
Hey, nothing pivots more than a startup. I’ve often seen this parallel with shitcoins—how they are like a business rather than being on par with the perfection of bitcoin. It’s a feature not a bug that it is this way. A huge red flag 🚩 to me on shitcoins…but I can see how people who don’t understand bitcoin but who understand business would be intrigued by them. It seems legit to them.
↩ replying to mike
Well this is why the SEC is "after" them. You can't issue securities with the SEC approval, also ICOs still happen and the such. With IPOs it's actually regulated by the SEC, but it's also why most almost all commercial banks won't let you deposit or send to CEX or others. They will get nailed, not the actual coiners.