Elon Musk has once again called attention to the proliferation of cryptocurrency giveaway scams.
The centibillionaire jokingly asked Dogecoin co-founder Billy Markus if the latter would send him 1 DOGE coin after receiving 2 DOGE coins from Musk.
If I send you 2 Doge, will you promise to send me 1 Doge?
— Elon Musk (@elonmusk) October 27, 2021XRP Golden Cross Flip, Shiba Inu Rockets 699,000% in Liquidation Imbalance, Bitcoin Risks Losing $100,000 — Crypto News DigestScaramucci Compares Crypto to UberRare Death Cross Threatens to Send Bitcoin Price Straight to $100,000SEC Boss Calls for Protecting Crypto Markets Against 'Regulatory Mischief'
Flattered by such attention, Markus said that such a question was “the perfect reply” to his warning about risks associated with crypto.
there are no promises in crypto, except from scammers.
— Shibetoshi Nakamoto (@BillyM2k) October 27, 2021
the people telling the truth will tell you that it's just all about risk. your profits only come from other people taking their own risk. if you lose money, you paid for someone else's risk.
ultimately, that is your choice.
In a sobering tweet directed at naive members of the crypto community members, the Dogecoin co-founder writes that one’s profits come from other people taking risks since there are “no promises” in crypto.
In July 2020, the entrepreneur’s Twitter account was temporarily compromised to advertise a Bitcoin giveaway scam during the largest hack in the social media platform’s history.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team