Price going up and making money is not proof that a coin is a good project or not a scam.
 |
Fundamentals aren't everything. And if they were the only driving force behind the price, the stock market would have been closer to a recession right now, than a bull run. Supply and demand is the driver. And very often hype and irrationality can prevail more on the demand side. Never underestimate how bad people are at researching those fundamentals. Not many people have learned how to do research properly. It's not something really taught in schools. It also doesn't help that there's so much misleading information from shillers, scammers, and Youtubers. So it's very easy for the driving force behind a price to be irrational. Remember Bitconnect? The price went from around $60 in July 2017, when it started to become more widely known, and hit $470 a few months later. You can bet that more people than Carlos Matos were making the argument that it wasn't a scam since they could literally throw their gains on a table and made so much money. But that's kind of the point of scams, they have to make money at some point. And they have to be very attractive to bring in enough suckers. Here's another pretty famous scam coin: This is still a scam in progress, and is more about those pump and dumps. But right now if you go to HEX communities and explain why it has all the hallmark of a scam, and was built like an exit scam, they'll always have that same defense: "how can it be a scam, the price is going up right now". You can always make some money along the way in a scam project, semi-scam project, or just pure shitcoin. Especially in a bull run. They'll have either "announcements", or price manipulation if it's centralized enough, or some good marketing to drive up the price. And if enough people who don't do their research buy it, the price will go up, and you can make some money along the way. But it doesn't change the fact that it's a scam or shit project, and probably has no long term prospect. And if you hang on too long, you might get caught in the next rug pull. submitted by /u/fan_of_hakiksexydays |
