In 2017, a few Bitcoin Whales were born. There could be danger in the cryptocurrency space in the future when these whales resurface.
These bitcoin whale makes their own coins and have the ability to convince folks to give them hard cash or bitcoin in return for what most folks call shitcoins. People call these setup scams and ponzi-scheme. I call them whale builder. They mint bitcoin whale.
Bernie Madoff ponzi-scheme amounts to $64.8 billions before it went downhill. In the crypto space, these scams can be 100x or 1000x before they collapse.
Bernie Madoff was offering a steady returns stream of 1% per month. These whale builder are offering an even more lucrative return streams of 1% per day. The reasoning seems to be we are in a new world, and the old rules doesn't apply.
Be warned. Don't help make Bitcoin Whale unless you are building your own whale. In that case, good for you as long as you can sleep at night building it the right way.
You can lose land, you can lose money; but don't lose your name and reputation. Don't screw others. Bernie Madoff lost his name; something he can't get back. He went from Hero to Zero.
Watch and learn.
