I’ve talked a lot about crypto scams and sketchy projects in the past, but what I didn’t cover were the communities around them and their supporters. I’d like to address this now in this video while going through some examples of sketchy projects.
The 4 main projects I’m going to look at to cover a few different categories are Hex, Theta.TV, SoMee, and Whaleshares.
This is my video previously talking about Theta.Tv – https://lbry.tv/@ScottCBusiness:4/Why-I-Don%E2%80%99t-Recommend-The-Theta-Network-1:e
In summary, the Theta node owners are benefitting off of the adoption and publicity from the streamers and people using Theta.TV while at the users’ expense.
This is my video talking about high value not equating to legitimacy – https://lbry.tv/@ScottCBusiness:4/scams:5
This is my breakdown of why I believe Hex is sketchy and don’t recommend it – https://read.cash/@scottcbusiness/why-i-sold-all-my-hex-8b609671
In summary, there’s a plethora of information about why you should avoid this but in one sentence, it can and has been manipulated, their partner at StakeHex.com shut it down and said he couldn’t go on with a clean conscience, and Hex is designed as a zero sum game that benefits Richard Schueller, the creator.
This is my video going through many platforms including SoMee and Whaleshares in the past – https://lbry.tv/@ScottCBusiness:4/Blockchain-Social-Platforms-You-Should-Really-Avoid:7
In summary, SoMee could easily be a scam because they misrepresent the value of their cryptocurrency and only allow you to withdraw after you pay to do so. Whaleshares previously scammed users and has a history of scamming, so should we trust that they are done with it?
What do you think though? Are any of these scams? Am I wrong about anything I covered here? Is there something you’d like to see me cover? Let me know your thoughts in the comment below and don’t forget to like, share, and subscribe!
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