TL;DR

Internet hype inflated a worthless cryptocurrency, wiping out naive investors’ savings. It’s a classic pump-and-dump scheme—history repeating itself.

Story

John dreamt of retiring early. Then he saw an ad: “Guaranteed 10% returns!” Sounded too good to be true? It was.

This wasn’t Wall Street; it was “meme” investing—a casino dressed as a brokerage. Driven by online hype, John piled his savings into a “shitcoin” [‣ Shitcoin: Worthless cryptocurrency, often pump-and-dump schemes.], its value propped up by bots and influencers.

Like a house of cards built on hot air, the market imploded. John lost everything. Retirement? A pipe dream.

This is 2008 all over again. Greed, masked as innovation, fueled a bubble destined to burst. Remember Enron? Same story, different suit. [‣ Enron: Energy giant that collapsed due to accounting fraud.]

The mechanics were simple: create hype, inflate prices, cash out before the crash. Victims? Everyday people like John, seduced by the allure of easy money.

Lesson? If it sounds too good to be true, it is. Due diligence isn’t optional—it’s survival. [‣ Due Diligence: Thorough research before investing.]. Don’t trust internet gurus promising riches. They’re selling dreams, not financial advice.

Advice

Treat “get-rich-quick” schemes like radioactive waste: avoid at all costs. Due diligence is your only shield against financial ruin.

Source

https://www.reddit.com/r/CryptoCurrency/comments/1jzcpq7/nothing_personal/