I called my girlfriend on the east coast last night to tell her about blogging on Steemit.
My friend: My friend of our invested $50,000 into OneCoin and made $500,000 this year.
Me: That's great! I wonder what kind of value the coin is offering. There are lots of coins here today that will be gone tomorrow so it's important to understand what problem that coin is solving. And, the worst case scenario is that some, unfortunately, are scams, so hopefully your friend will be fine.
Then, out of curiosity, I looked it up OneCoin and would you look at this, just 13 hours earlier...https://cointelegraph.com/news/onecoin-is-much-ponzi-indian-police-chief-confirms-clear-ponzi-scheme
OneCoin was indeed a Ponzi.
(Photo by Cointelegraph)
As I'm writing this post, Bouncy-boy has popped in to say hi to y'all.
(Original Photo - Pixel XL with Metro Filter)
Lessons Learned:
- If you care, help point people to the right information.
- Look for true value.
- Be wary of outrageous guaranteed returns.
And, here's the WORST PART, for victims who recruit other victims..."In this sort of scheme, investors become the perpetrators as well as victims. It is clear that this is a Ponzi scheme," Tushar Doshi, a senior law enforcement official, told the Express. http://www.coindesk.com/indian-police-charges-onecoin-founder-ruja-ignatova/
Something to think about!
Much luv,
