Ethereum the Biggest & Simplest to Understand Scam in History!


#1

I’ll say it, I’m a sucker. I got sucked in and I got burned badly. No, I’m not talking about Fiverr, I’m talking about the biggest scam in history called Ethereum.

Last year, I bit the bullet and invested a small amount in bitcoin. Since then, I have made upwards of a 400% profit. In this case, I don’t regret my decision one bit. Recently, however, my eye caught this new thing doing the rounds called Ethereum. I caught sight of it in December when one Ethereum coin was worth something crazy like $10 and today at $247, I decided to invest in this too.

Thankfully, I only bought 1 Ethereum coin. The problem is that I am still waiting for it to arrive in my wallet and apparently this might take between 10 hours and 11 days. - WTF!

Now to be clear, I have no doubt that I will get my Ethereum coin. However, the plain and simple fact of the matter is that with this kind of transaction latency, no one will ever be able to use this thing as a viable currency! In fact, neither will anyone be able to use Ethereum for the smart contract mumbo jumbo which the currency is apparently intended for. (As yes, I know that Ethereum is not considered to be money in the same way bitcoin is).

In this case, Fiverrians, if you too are cryptocurrency dabblers like me, DO NOT invest in Ethereum! It’s a completely unusable steaming pile of bull which because of transaction latency alone, can’t do anything but explode spectacularly in future. Don’t buy the hype and stick with bitcoin!


#2

I’ll stick with gold bullion stored by a certain company that sells shares of their company, which rise and fall with the price of gold and are traded on the NY stock exchange.

Is it an actual coin you receive or a virtual coin? How do you sell it? It sounds like it would be regulated in the US.


#3

It’s neither. - Too complex to explain really in a forum post.

As for gold, the problem with precious metals is that unless you have them in your hand, you can’t really be sure if you have any. Hence why the Fed is always telling Germany that yes, it will give them the gold back which they pay for it to store, just err… not today.

The best investment is food as people always need food but it’s a bit tricky to actually invest in.


#4

Well no one usually wants to take actual possession of $50,000 worth of gold. The logistics of that are daunting. You would need to commission an armored truck for delivery.
This company has huge underground vaults.


(this is actually the bank of England vault but its a typical gold vault.)

I’ve purchased over $100,000 worth of gold shares from this company I’m referring to and resold the shares at a profit.


#5

I can’t wrap my head around virtual currencies, however, is there any chance this latency could be improved with time?

I’m assuming you’ll hold on to it. Might be worth something eventually :slight_smile:

Until then, I’m with misscrystal. Gold is a great investment!


#6

On Melmac planet, gravels are worth of gold, gold is worth of gravels.

I like bitcoin, I have a bitcoin wallet, but I don´t use it for investment purpose.

Speaking of investment, I´ve heard somewhere that some people invest their money in planting trees (where them people are made to believe that after 5 to 10 years the trees will grow big and they will have lots of woods worth of a lot of money). The problem is, they have never even come to the place where the trees are planted, if there are real trees at all. What if they ran away with your money?


#7

Can you explain me what’s bitcoin in simple language.


#8

It´s virtual money. The value of a coin changes from time to time (not steady). You will not get a real coin like them metal ones if you buy a bitcoin, lol. You can withdraw money at a bitcoin ATM if you have some bitcoin in your bitcoin wallet. You also don´t have to buy one coin, you can buy a half, or you can buy ten depends on how much money you have.

NB: I made my bitcoin wallet on Blockchain.

PS: You can also use bitcoin to send money to a person who has a bitcoin wallet and vice versa.


#9

Wow where do you find a bitcoin ATM is it virtual too? Also can I buy something with bitcoins on Amazon?


#10

˝…a bitcoin ATM is it virtual too?˝

No, a bitcoin ATM is real, just like them ATMs that banks have. But it is a special ATM. It is rare, at least in my country I have only seen 2 ATMs in the capital city. Maybe there is more, but idk. I have withdrawn money from both ATMs.


#11

I don´t know. I am not familiar with amazon. You can check their payment methods, me thinks.


#12

I have come to the conclusion that the best investment you can make is your health. At this stage in my life, wealth preservation is more important to me than wealth creation. The best way to do that is to focus on health, get fit and strong and build immunity to disease. My other concern is my mother’s health - she is 65, financially independent, lives in another city all by herself. So far, so good, but I may have to look after her once she crosses 75. That’s my duty as a son and I don’t like the idea of old age homes.


#13

I agree, the best investment is your health.


#14

Not to go off topic, but I have to say that is one of the best things I had read on this forum from the time I joined.
Wish much health to you and your mother.

PS. After all that is what family is for.


#16

Yes. If anyone thinks that the governments of the world are going to just standby and watch their currencies become worthless, they are going to be in for a real shock. If Bitcoin or any others start to seriously erode the global currencies of the dollar, yen, pound or euro, they will be outlawed so fast you will be shocked.

If you think that the world powers are going to be any less ready to go to war over the devaluation of their currencies than they would if you tried to grab their land, you watch too much sci fi.