Love em or hate em - they exist and are perpetuated by equal parts greed, manipulation and profit. One caveat which is overlooked by many of the newly incorporated, is the signal manipulation by a select few in terms of entry and exit prices, resulting in profit deviation.
Regardless of your take, social media such as Facebook, provides many avenues for such groups to exist, advertise and market their promises and signals to many unsuspecting and profit seeking individuals. After all who is only involved in digital assets strictly for the technological promise and innovation as opposed to profit potential.