Stupid money

[ovinna]

It is very easy to get a lot of money in crypto with the help of deceit and it is so easy as well to get money in the honest way as well, so I consider that crypto is very univerrsal thing to judge it or to have any disagreements here.

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[haidangtp]

Yes, I agree. Investing money is like losing money. To take risks from the beginning of investment. So, invest in your financial capacity.

[vseslav90]

Stupid money are not always just stupid, there is a part of deals which confirms the idea that everything is genious is simple too, I like this statement and it can be used here in very suitable time.

[leviathon]

I still do not get how people do not know that they should only be investing the money that they can afford to lose into the projects, especially ICOs, they are very risky and when you put your money in it you should bear in mind that there is a possibility that you will never see that money again. No one should ever borrow money to invest in an ICO, it is way too risky.

[dgross0818]

One guy wrote a post on the Internet. He invested in an ICO and did not know what to tell his wife because the money he invested were borrowed from a bank and the ICO failed. Nobody wants those tokens anymore. So, what should this guy do now, in your opinion?

     When we were launching an ICO I spoke to almost all of our investors. Not with all of them but with the majority. My message was simple – you should invest the amount of money you are willing to lose. I kept saying this over and over again. I even refused some of the potential investors. Not many, but still I turned two or three of them down. It was not about ethics. It was not about morality. It was not about reputation.

The thing is that one of my businesses is a detective agency. Thus, I saw many malicious fraud cases. People say a project will be a success and then some force majeure happens. This is when infuriated investors hire detectives to find the fraudsters. We conduct a thorough investigation on the case and see that no one actually intended to cheat at first. It just happened.They just did not calculate their own strength. Did not foresee all the possible outcomes. In fact, willful fraud cases are not as common as single cases of stupidity. But the outcome is always the same – court cases initiated by the investors and jail for the stupid entrepreneur.

Some people wrongly assume that it is possible to flee – there were cases when we had been searching for 2 years but managed to find people in the end. Whatever large amount of investments a person gets, they will lose it in a couple of years if they have no experience of managing such sums. Moreover, they will end up in a much worse situation than they were before. 

Knowing all this, I have decided to work only with those investors who were ready to lose money. Even though my thoughts are unlikely to be heard, I highly recommend that all ICOs adopt this policy. We all play a very high-risk game: 9 projects out of 10 fail after collecting money. Different people, including ones like the guy I was talking about, invest into projects; they invest money borrowed from banks. These people are stupid. They are not ready to be investors. The ICO team has to explain that investing is out of their league. Maybe they are just not suited for this.

However, ICOs do not do this. As a result, after crying his eyes out, our guy will get angry and file a report to the police to initiate criminal proceedings against the ICO team. The team will have many unpleasant years ahead.

So maybe it is reasonable to prevent such situations? Maybe saying ‘guys, we can fail’ at the beginning makes perfect sense? ‘Investing credit money in an ICO is a bad idea and this is why we refuse you’?

It's a pity that such stories have nothing to do with reality and with how people try to deceive other people. The problem is that every new scammer dreams of easy money and thinks he is much smarter than police and evil investors! Sometimes deceivers can escape punishment but more often this is a lot of problems and nerves. Easy money pushes people to the path of evil and it's terrible!

[PrestonTrader]

I agree - at school we were not taught this - taught to work for days, and live from wages to salaries.

[PrestonTrader]

it's also not bad that people started investing their money in projects, but of course many do not understand what's what - just because of the beautiful eTektek are investing in projects, I think it's necessary to control processes, study projects - now anyone can create a start-up project and sell at any price their tokens.

[PrestonTrader]

Again - it's nice to see new projects aimed at studying and monitoring projects on its base. which, in turn, helps the process as a whole, people do not take risks, projects are implemented.

[boolean420]

Maybe you should have some kind of agreement beforehand. Invest into lawyers as well. Making sure you deliver your promises and you shouldn't haveto worry about legal battles. If someone loses money because they invested and couldnt quadruple it. Doesn't mean the ICO was a scam.

[aileen393332xe5157]

Indeed, the electronic money market is risky, but it also makes many people rich. Therefore, in my opinion, when you join this exciting market, start with the investment money that can lose it, your life is not affected much. Most important is to learn to have the knowledge, experience and even in every investment decision.

[shaheer001]

This is really sad news and the person is not the only one there is huge list of such type of people who barrow the money for crypto trading and had lost. I always the formula never invest whole money in crytpo trading or in ICO always invest small amount and if you want large then divide it in many, don't put all eggs in one basket.

[Mandevil]

yes in this new crypto world you need to invest something or how much not to lose terribly.

[Mandevil]

the market is relatively young - laws are not clear, anyone does what he wants, this is the whole point!

[Mandevil]

you can get rich overnight - and you can lose everything, or attachments - and that's for sure! do not borrow money for high-risk projects, start-ups for example, or invest all money in one project or coin !!

[Mandevil]

This is really sad news and the person is not the only one there is huge list of such type of people who barrow the money for crypto trading and had lost. I always the formula never invest whole money in crytpo trading or in ICO always invest small amount and if you want large then divide it in many, don't put all eggs in one basket.

Yes, personally, my experience has shown that you should not enter for example in haypovye projects - which just accrue%, this can not be - if you think, this pyramid - gospada - free cheese -...

[elloco4ever]

I agree - at school we were not taught this - taught to work for days, and live from wages to salaries.

Fact, yes we were suppose to work everyday to handle our family this crypto technology is tremendous one which helps us with fund. If you invest in a right coin you will get a good return. If not you will lose as simple like that.

[myads runner]

Read ICOs portfolio first before investing your money, search good feedback, and ensure you ready to lose your money. investing on ICO is very high because no covering from government. Learn more from this forum about cryptocurrency the take action what will you do

[Dilireba]

If i was him i would confess with my wife and hope that she will forgive me, then we work together to pay for loan.
You're right, the lesson is only invest what you can afford to lose, and don't invest all money into one project. Carefully research about the project before investing is needed.

[loof99]

Woah, this is a really thing that happening in the ICOs now. This is a bad decision making though. Investing in ICO is like playing casino, you will probably risking your money without any know or chance of  winning. Risking our borrowing money just to invest in a ICO was a very bad decision for me. If you want to be successful here in the industry you must be wise and not risk your money without any chance of winning at all.

[Perie200]

Investing in any kind of asset is a big risk. Those who decided to invest should understand the risks of losing their money. Taking a loan from a bank and investing it in the crypt is stupid. At the end of last year, we saw the growth of the crypto market and what do we see now? A very long correction that may end tomorrow or maybe in two years. So, do not take loans from friends.