If you think NFTs are a scam, You’re CORRECT! Heres why:

Cryptocurrency News and Public Mining Pools

If you think NFTs are a scam, You’re CORRECT! Heres why:

You always see these newly created, or suddenly active accounts (after a long period of inactivity) pop up on crypto related forums

That's because some people will either sell their reddit account for cheap on sites like player auctions so that they can post in certain communities, bypassing any posting restrictions for a newly created account.

And you may also see many accounts with shitty NFTs pfp on places like twitter or other social media platforms. What all of these accounts have in common is that they post about how "good" NFTs are, they post about this massive community that they're apart of and how it's going to "grow" and "WAGMI" but when you return to these profiles/"communities" after a few months, they're either gone, or they're promoting another NFT project/community because their previous one had failed

Never will you see these accounts post any evidence of their Opensea trading where they've profited off of NFTs. You will not see it, anywhere. And on the few accounts that you see where you can find their Opensea, they're involved in the BOT trading of NFTs from collections to inflate prices on current nft collections.

This is literally the system of events which occur with NFTs:

1) Someone will create an NFT collection

2) They need exposure, so they pay coders to create bot twitter accounts to promote their collection

This small amount of "exposure" creates a fountation for people who further on may decide to research this NFT.

3) The NFT creator creates an Opensea bot system to send offers to the NFTs available for purchase, dramatically increasing their price, giving the illusion that these NFTs are high in demand

4) The Creator will then pay Influencers to promote these NFTs, exposing this shit to their audience (This is the best way for top exposure)

5) People among this audience will then purchase these massively inflated NFTs, thinking they'll profit based on the price projection/demand of them, only they will NEVER sell it for anywhere near what they purchased it for, and will have to take a huge loss on it to sell it.

6) Nobody cares because it was a "risk", people move on, and the NFT creator moves on to another collection and repeats this process.

NFTs weren't originally designed to be scams, they had purpose and still do, but because of how much cryptocurrency has blown up, NFTs are along the same "hype train" but it's such an easy way to make money from scamming people that literally every NFT creator does it. They can't get in legal trouble becauses no laws exist on it yet (same with crypto).

They're worse than shit coins because atleast with shitcoins if you're aware of a rugpull you can profit off of it effortlessly.

You also get a few people in these NFT communities that are genuine people that are trying to increase exposure to the NFTs they've purchased, many of these are the victims which have brought into these scams that are trying to regain the money they've lossed by pushing their NFTs on to other people.

Influencers lie, they aren't your friend, they're paid to promote NFTs. Why do you think they get paid dumb amounts to promote it? Do you think everybody is going to make money off of it? Everyone can't be rich, or money would be worthless, in the same way that everybody can't make money off of NFTs – The creators make the most, influencers get the rest, all of the losses are put on the audience which are dumb enough to buy into them.

DO NOT buy NFTs. You will lose money. Ignore the shill accounts/bots who will try and swindle you into doing so. This is all a gigantic tactic which includes taking advantage of the internet and the ability to make literally as many accounts as you want to make it seem like NFT collections and communities are "strong" with based on the quantity of people in them, but they're almost all bots.

submitted by /u/ArsenalSpursTINYCLUB
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