THE BIGGEST SCAM EVER!!! #Best Education Page #Online Earning

so I haven't gotten enough hate comments

lately and that made me decide to make

another video talking about a Bitcoin

and cryptocurrency related topics so if

you guys are looking for a video to drop

some thumbs downs on due to the fact

that I'm talking about cryptocurrency

with an unfavorable opinion then you are

going to be happy with this video

because today I'm going to be talking

about why most of these I cos our

complete scams now before you go ahead

and start commenting on this video

saying that I am wrong I just want to

make this point that a lot of smart

people out there are outspoken about

these icos and believe that they are

scams on that list is Jordan Belfort -

the infamous wolf of Wall Street and

also Jimmy Wales the co-founder of

Wikipedia

both of these two men are very outspoken

about these icos

especially Jordan Belfort now you may

argue that Jordan Belfort is one of the

biggest scam artists of our time and why

would we ever listen to him well my

philosophy is if a scammer believes that

it's a scam then it's probably a scam

okay now I wouldn't say that Jordan

Belfort is a scam artist now I actually

had the opportunity to meet him a couple

of weeks ago at that synergy global

forum and he seems like a pretty honest

guy in like he's trying to turn over a

new leaf

but obviously he did some shady activity

in his past but the point is if Jordan

Belfort is calling it a scam then

personally I'm gonna trust him because

he would know a scam better than anyone

so first of all let's identify what an

ICO actually is

so when ICO is an initial coin offering

and the name comes from the IPO which is

an initial public offering so when a

private company wants to go public and

raise funding they will have an IPO and

they offer shares to the public through

the IPO now the ICO

is going to be the same kind of deal but

instead of offering shares of ownership

they're offering you tokens so tokens

okay what is the value of these tokens

well it's all based on perception and

speculation where shares give you

ownership of the actual company tokens

give you I don't know I have no idea

what they give you so here's how it

works in a nutshell you're going to see

a company offering an IC o---- they're

offering up a new type of cryptocurrency

it's a new and

exciting form of cryptocurrency and what

you have to do is exchange the Bitcoin

or aetherium that you currently own and

you're going to exchange it and you're

going to get this new token from this

company it's called an IC o---- the

initial coin offering or the first time

a new cryptocurrency token is being

offered to the public now this isn't

just a very small activity here in fact

to date 2.3 billion dollars have been

raised in 2017 from these IC OS and

that's not even a current figure that

was from a couple of weeks ago so I'm

sure it's even higher now so we're

talking about billions of dollars moving

into these icos these offerings of new

cryptocurrencies so rather than

following these traditional ways of

raising capital like a venture capital

or the IPO these blockchain based

companies raise money through the ICO so

the best way for me to explain this ICO

is it's a combination of crowdfunding

plus cryptocurrency so they're going to

be funding a project of some kind and in

exchange you're going to get a token now

like we said guys there have been

billions of dollars raised this year

alone through these icos

so my main question was why are people

buying these things why aren't people

investing in these tokens the main

reason is the elevated interest in

cryptocurrency and blockchain technology

thanks to Bitcoin and ethereum so what's

happening here is people are trying to

catch the next wave they're trying to

get in on the ground floor of the next

Bitcoin or the next aetherium or altcoin

so what they're doing is buying whatever

else is out there in hopes that they're

going to have a Bitcoin like experience

where they're going to see a 1,000 plus

percent appreciation in one year what

this reminds me of is when we saw

Facebook IPO we saw their stock take off

after they had a little bit of trouble

there in the beginning and since then

every social media company that has gone

public has had a bit of a rise at first

and then they taper it off look at

Twitter and look at snapchat so it

reminds me of people investors who are

trying to get in on the next Facebook

just because they saw that rapid

appreciation of Facebook stock they

believe the same thing will happen with

Twitter and snapchat and that was not

the case as we have seen so far so that

is what I look at with these icos

it reminds me a lot of people

trying to catch the wave of facebook

people are trying to catch that wave of

Bitcoin by getting in on something else

on the ground-floor now in my opinion

and I may be wrong here I believe this

whole crypto craze is a repeat of the

dot-com bubble and at this point I am

sure this is when all the crypto fanboys

are going to give this video a thumbs

down and write a negative comment about

my shirt so just like the dot-com bubble

I believe that this crypto bubble is

rooted in the technology that is very

great and in this case it is blockchain

technology I have no doubt in my mind

that blockchain technology is very

useful and is going to play a big role

in our future I just think that people

are overly excited right now and the alt

coins and these bitcoins are trading

solely on hype and speculation so the

way I see it is this the rapid

appreciation of Bitcoin anythi reham has

gained the attention of the herd and now

they are going to throw money at

anything under the crypto family because

they believe it's going to have a 1000

plus percent appreciation in a very

short period of time because that's the

same thing that happened with Bitcoin

and aetherium if there's one thing that

I have learned as an investor it is that

past results do not guarantee a similar

outcome now I may be wrong about this

but I do believe that this is a bubble

at this point that people are investing

in this stuff solely due to the hype of

Bitcoin and aetherium now I'm not saying

that all of these AI SEOs are a scam but

in my opinion most of these icos

are a complete scam and I want to give

you guys a few reasons why that is and

I'm hoping that if you're on the fence

about it maybe some of these facts are

going to deter you away from putting

your hard-earned money into one of these

icos the number one reason is because

the ICO is a total loophole you have to

understand that an IPO an initial public

offering is heavily regulated and there

is far less regulation involved with the

ICO so this is a way for companies to

raise money without going through the

process that you go through in order to

have an initial public offering the

second reason is because there are very

low barriers to entry as far as having

an ICO yourself what that means is

pretty much anyone out there with a

computer and a legal document known as a

white paper can

I see oh there are far lower barriers to

entry associated with an ICO than there

are with an IPO the third reason why I

believe most I SEOs are a scam is

because you don't need to have any kind

of track record in order to raise money

this isn't like raising venture capital

when you have to have an actual business

and actual numbers and actually be

making money to have someone invest in

your business in this form you don't

even have to be making any money

so unlike raising money through things

like venture capital you do not need to

have a track record to raise money

through an ICO reason number four ties

in with number two as far as those

minimal barriers to entry and that is

because all you need to have an ICO is

essentially a website and a document

known as a white paper and that white

paper is a document that's about 20

pages in length where you're going to be

describing what you are raising money

for and at that point if you have a

website and you have a willing audience

then you yourself can have an ICO reason

number five is because there is ZERO

accountability with an ICO this is not

like an IPO where they are offering up a

piece of the company they're not

offering any equity in that company all

they are offering up is these tokens so

there is no accountability on the

company's part to actually follow the

promises they made and do what they said

they were going to do reason number six

is because there is a large potential

here for a pump and dump where a company

is going to simply have an ICO they're

gonna buy their own tokens and once

they're trading at elevated levels

they're gonna dump their position and

they're gonna walk away from the whole

thing that is what happens with Penny

Stocks most of the time people are going

to buy a position in some kind of penny

stock then they're going to talk it up

and tell everyone this is the next hop

penny stock and then once that penny

stock is trading at a higher level due

to that demand they go ahead and sell

and everyone is left with a worthless

piece of stock and the final reason is

the fact that I believe that these

companies are solely taking advantage of

the hype and really I don't blame them

if this is what your business model is

if you're looking to take advantage of

people then good for you because you've

picked up on a good thing and there's a

lot of interest in the cryptocurrency

and blockchain technology I think a lot

of companies are doing these I SEOs

solely due to the fact that there is an

elevated level of

interest in this blockchain technology I

don't believe that their businesses have

anything to do with blockchain or would

even benefit from blockchain technology

in most cases anyways guys that is all I

got for this video I'm guessing this is

going to be one of my more unpopular

videos it's going to be popular in terms

of views I would assume but I'm thinking

it's going to get a lot of dislikes

based on my previous videos related to

Bitcoin but I wanted to give you guys my

opinion on this if you guys enjoyed this

video please drop a like we're gonna

need as many likes as we can get if

you're new to my channel please consider

subscribing to be notified of any future

uploads if you agree with me or disagree

with me please leave me a comment in the

comment section below and I thank you

guys for taking the time to watch this

video

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