Cryptocurrency is a scam

Here’s a list of why it’s a complete scam, and the things you need to be careful of:<br><br>* Crypto was created by Shane & Mr T, 2 British guys who wanted to make money from a pump and dump scheme.<br>* Bitcoin does NOT ‘run on computers’. Bitcoin runs on highly specialised computer chips made and produced in mass quantities by only 3-4 manufacturers, in China.<br>* The CEO of MicroStrategy, a company who claims to be investing all of their profits into Bitcoin, is an ex convict who spent 9 months in a federal prison for fraud.<br>* Tether is not backed by any real money. They print their own money, and claim it’s backed by cash they don’t actually have. They also use client money to invest in Bitcoin.<br>* Elon Musk is a shill who is using his platform and influence to pump crypto, when Tesla have invested a significant amount into Bitcoin. You will see Tesla buying more Bitcoin when the price is low.<br>* Any crypto influencer who tells you to buy into an altcoin, has already invested, and is trying to pump the price.<br>* Any crypto influencer who tries to tell you what to do, what to buy, or what to invest in, is trying to make money FROM YOU. You should make your own decisions.<br>* Crypto influencers are paid by altcoin companies to shill and pump and dump their coins. They don’t care about you, they care about their own profits.<br>* Any ‘new’ altcoin is likely a premined scam. This means that the developers have already mined a large amount of coins, and will dump them when YOU pump the price up.<br>* Rick Astley and other celebrities are paid by altcoin companies to pump and dump their coins.<br>* If you invest in crypto, you’re ‘investing’ in something that doesn’t physically exist. The only ‘physical’ form of crypto are the highly specialised computer chips used to mine it.<br>* There are people who invested their life savings into crypto, and have made nothing, or have made a small amount back. Imagine if they had invested in something real?<br>* Imagine the environmental damage that crypto mining has done to the planet, for no real reason.<br>* Crypto mining has ruined countries like China, Kazakhstan and Mongolia, who have sacrificed their countries for the sake of pointless mining.<br>* If the energy cost of 1 Bitcoin is $30,000 and the current price of Bitcoin is $60,000, then someone, somewhere, has to pay the outstanding $30,000 to make it profitable.<br>* Miners aren’t making money from selling Bitcoin at a higher price, they’re making money from the profits of actually selling Bitcoin, while claiming their energy costs are free.<br>* Miners are sacrificing the environment, and the planet, for the sake of making money from something that doesn’t actually exist.<br>* If you buy crypto and invest, you’re likely to end up with nothing. It’s a 50/50 chance, where it’s either boom or bust, and most of the time it’s bust.<br>* If you buy crypto, it’s likely it’s from a premined scam coin, where the developers have already greedily sucked up all of the coins, and will dump them to make a quick profit.<br>* If you buy altcoins, you’re likely to be scammed by the developers, the influencers, or pump and dump groups.<br>* There are no winners in crypto, apart from the 1%, who are in control of the global hashrate.<br>* Crypto has no winner, apart from whales, and those who are in control of the global hashrate. Everyone else is a loser.<br>* Elon Musk may claim to be a ‘victim’ of crypto, but he’s not. He’s a billionaire who has invested in crypto, and is trying to get YOU to invest too, so that he can make a profit.<br>* Elon Musk doesn’t care about you. He cares about himself.<br>* Elon Musk is using his platform to pump crypto, and make himself money, and he doesn’t care about the risk he’s putting you in.<br>* Elon Musk and Tesla need the price of Bitcoin to be high, or else they will lose money.<br>* Tesla’s profits in 2021 were largely due to Bitcoin, not due to car sales. They didn’t make money from cars, they made money from Bitcoin.<br>* Elon Musk is more interested in Bitcoin and crypto, than he is in cars, or SpaceX.<br>* Elon Musk would rather let you invest in a scam, than invest in something that would actually make you money.<br>* Elon Musk doesn’t want you to be financially free, he wants YOU be financially dependent on HIM.<br>* Elon Musk is a billionaire, who has invested in Bitcoin, and is trying to make you invest, so that he can make even more money.<br>* Elon Musk will never tell you to invest in something else, other than Bitcoin. He’s not interested in your financial freedom, he only cares about himself.<br>* Elon Musk doesn’t want you to be financially free, he wants you to invest in Bitcoin, and then make even more money for himself.<br>* Elon Musk would rather have you invest in a useless scam, than invest in something that would actually make you money in the long run.<br>* Elon Musk has the power and the influence to make you invest in a scam. And he will do whatever it takes to make YOU invest.<br>* Elon Musk wants to make money from YOU. He doesn’t care about your financial freedom.<br>* Elon Musk wants YOU to invest in Bitcoin, so that HE can make money.<br><br>In conclusion, crypto is a complete and utter scam. The CEOs are fraudsters, the influencers are paid shills, and Elon Musk is using his influence to make you invest, so that HE can make money.<br><br>Don’t waste your time, don’t waste your money, and don’t invest in Bitcoin or crypto.<br><br>It’s a scam, and it will always be a scam.<br><br>Edit: thank you for the rewards and the silver. I appreciate it.<br><br>Edit #2: I’ll keep this post updated, and will add more information as I find it.<br><br>Edit #3: thank you for gold! This post is now in r/all.<br><br>Edit #4: I’m overwhelmed by the sheer amount of comments, so I’m going to stop replying to them all. Thank you for supporting the post, and I hope you stay safe from crypto scams.