What grinds my gears
I see this ad ten times a day, that is, only if I watch ten youtube videos.
Uh, it's NOT on the blockchain.
There are laws for big pharma, lawyers, for medical procedures, investment advice and the like but nobody is advising or warning people about partial truths as the Bitcoin boom continues here in South America. I think of all the people who are considering this video to be educational on the topic of Bitcoin, and I can't just sit back and say nothing.
With limited info out there in Spanish, people here are hungry to learn about Bitcoin. They teach nothing about securing your Bitcoin or Ethereum keys.
Here is a rough translation of how they are being sold (parts - no all)
- Then my notes in bullets
Good day to you all, my name is Tali Salomon, Sr. Executive of Accounts at etoro.
I am going to tell you about the crypto coin that is all the rage.
I am going to teach you how to invest in it and how to continue with it after you have invested.
First we need to talk about what a crypto coin is. A crypto coin is a belief in a belief.
We use money (paper currency) because we believe it has value and others do too.
A crypto coin is exactly the same except we don't have the paper.
It is something virtual. It is not backed.
The basic system is the blockchain. A chain of blocks or like in the old days a ledger book and everything that has to do with this coin gets written to it.
- Tossing the words "the blockchain" around as if they had one. Which blockchain? The one in your site? No. Then they talk about a ledger book were transactions are written. No, it's the etoro database
We have to remember that many crypto coins exist, most have heard of Bitcoin which is a very successful one. Why? Because it's a bit like gold or oil in that the whole world knows what the offers are and how much demand there is. But this is something new and as people learn about it, it keeps getting stronger.
Let's see. How do we buy and sell it
First we open our list of those we are following, here you see Bitcoin and Ethereum.
(going on about how to select Eth, hit buy, make an order)
- Not a word about where the money is stored - to most it may be obvious but this is running 24/7 on every single YT video that plays in this South American country. Any word of security? Decentralization? In a country where most had their bank accounts raided just fifteen years ago - cleaned out - I am hoping people won't just jump in just because they are sweaty about getting some Bitcoin.
(goes on to show how to see your show how to see the number of bitcoins you don't really have, but now are on a list.)
This is something social, it's creating a revolution around itself, and it's all over social media like facebook or groups that post about crypto coins. Etoro is also a social network and we can see people who invest in these coins
- Get on the bandwagon, all these rich people have no care for private keys, they just deposit on etoro. Right!! I don't think so. These are the things that bother me as does a "Better call Saul" lawyer going after a bus load of elderly would bother anyone.
... and how he always asks himself why he didn't invest in Bitcoin when it was $40.00 like Ethereum is today. So there are great opportunities and if you have any questions contact us. Good day.
I understand Spanish better than I can speak or type it. So if anyone of my followers would like to put this post in Spanish, my comments and thoughts on it too. Have at it! Full permission granted.
The features and benefits
of all digital currencies should be known, taught, and taken advantage by investors who use them to protect themselves in countries where the leaders are shady .
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