Just because you can make money on a scam doesn't mean you should.


Lots ppl are diving into DeFi projects they know are too good to be true. 8% comp. daily interest is always TGTBT. If you don't know this you aren't good at math.


Thread about law, ethics, and crypto

If you're into crypto you know what it's like to believe in something others think is a scam.

For years I told my dad to buy BTC. He'd tell me its a scam. In Dec 2017 he finally bought at peak hype.

He's since sold at a loss and thinks its a scam again.


I KNOW he's wrong.

The BTC-centric call everything that isn't BTC a scam. Ethereum is a scam. Defi and every ICO are scams. HEX, XRP, Bitconnect... scams.

But some are less scammy and it can be hard to determine whether something is just a bad investment, misguided, or straight theft.

As new ppl enter they want huge gains. Promoters know this and say EVERYTHING will moon.


They promote pumps and 8% daily comp.

Some turn to popular Twitter/YT accounts for advice, get duped by them, lose money.

These ppl should be pitied. But they aren't the problem.

The problem is those that know something is TGTBT and see it as a gamble or easy way to get gains and promote it knowing suckers left holding the bag.

These people are worse than the creators of the fraud bc they delude themselves into thinking they're good investors.

Knowingly participating in a Ponzi scheme or obvious fraud and making $ off it cause you're early is not investing.

It's not gambling.

It's defrauding people. Even more so when you sell access to an investment list of things you know are frauds.

In every Ponzi scheme, ppl make fortunes. It's bc money from downstream "investors" or token holders is used to pay profits upstream.

The profits you make from scams is what allows the scam to continue. Your gains are an integral part of the fraud.

And from a legal perspective, just because you have profited from a scheme doesn't mean those profits are safe.

Caselaw is clear that those who lose money in a Ponzi can go back and "clawback" profits from those who benefited from the Ponzi. But but but it's crypto...

Right, but all of these frauds are centralized somewhere.
Regulators are looking at this and soon plaintiffs lawyers will get involved.

Maybe you'll get away with it. You'll exit $FoodSwap or Pyramid Token, buy a car, and say you're a great investor.

You're not. You're a fraud

I'm not here to tell you you need to buy into an egalitarian view of Bitcoin as the fix to the world's issues or that you shouldn't try to make money.

But you should know we see what you're doing and it isn't impressive. It's gross.

In unrelated news, @IvanonTech blocked me.