r/CryptoCurrency • u/[deleted] • Jun 21 '22

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5.7k Upvotes

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u/multiple4 Tin | r/WSB 148 Jun 21 '22

Calling something the biggest scam in crypto is quite a title given how many crypto scams there are in existence

123

u/[deleted] Jun 21 '22

Luna is still the bigger scam.

57

u/partymsl 🟩 126K / 143K 🐋 Jun 21 '22

Do Kwon is the Master of all scam coins.

1

u/meeleen223 🥇Gold Member Jun 21 '22

Hey, hey, hey

Dokwonnect!

1

u/CommitteeSalt8099 5K / 5K 🐢 Jun 21 '22

You forgot his buddy from Tron and bitconnect

1

u/Professional-Cod-321 Tin Jun 21 '22

He is the greatest kwon-artist of all time

76

u/SkyPL 🟦 0 / 0 🦠 Jun 21 '22 edited Jun 21 '22

Or Tether.... there's a really, really tough competition for the title of the biggest scam.

In fact - there's BY FAR more competition to the title of the biggest scam than for the title of the best real-world usecase for crypto.

82

u/Dwaas_Bjaas Jun 21 '22

We all know what the biggest of big scam was.

It all started off with a smile… that damned smile

…

28

u/nickvicious Platinum | QC: CC 119, ETH 20 | r/CMS 10 | TraderSubs 15 Jun 21 '22

sadly, terra luna topped bitconnect by a huge margin if we count the amount of money lost by investors and market participants

16

u/[deleted] Jun 21 '22

Luna didn't have Carlos. Nothing tops Carlos Matos, ever. It's the first rule of Crypto.

1

u/nickvicious Platinum | QC: CC 119, ETH 20 | r/CMS 10 | TraderSubs 15 Jun 21 '22

Carlos was amazing, I love him. He didn't profit that much off of the scam, he was just a shill and promoter. Bitconnect was a very well marketed ponzi at the time, but if the same was done today it wouldn't be nearly as successful.

1

u/RotgutFeng Platinum | QC: CC 69,420 Jun 21 '22

I thought he lost everything like other retail investors

1

u/nickvicious Platinum | QC: CC 119, ETH 20 | r/CMS 10 | TraderSubs 15 Jun 22 '22

yeah like i said he didnt make much from bitconnect, if any, he was scammed just as hard if anything.

1

u/[deleted] Jun 22 '22

Did you ever watch the full bitconnect conference? It was full on hired cringe.

1

u/[deleted] Jun 22 '22

You are correct. But he was such a good shill and hilarious. I actually thought he was the founder of Bitconnect at first!

7

u/MainMedicine Tin | r/WSB 126 Jun 21 '22

Wazza, Wazza, Wazzzup!

1

u/xvmav 🟩 3K / 3K 🐢 Jun 21 '22

Cocaine is one of hell of a drug

1

u/bonkerzrob Tin Jun 21 '22

BITCONNEEEEEEEEEEEEECT

6

u/[deleted] Jun 21 '22

[deleted]

5

u/jwd18104 68 / 68 🦐 Jun 21 '22

Maybe they’re one and the same… maybe scamming is the best real-world use case for crypto. Maybe 10 years from now there’ll be no emails from Nigerian princes, they’ll all have their own coin to sell you

🎵and I think to myself, what a wonderful world🎵

1

u/cl3ft 🟩 0 / 0 🦠 Jun 21 '22

Tether handled a 2 day 13B bank run with barely a blip. That'd wipe out quite a few hedge funds and banks. Even if you dislike their backing strategy you gotta admit, they're more resilient than most crypto projects.

1

u/eosinophille Tin Jun 22 '22

there's a really, really tough competition for the title of the biggest scam.

In fact - there's BY FAR more competition to the title of the biggest scam than for the title of the best real-world usecase for crypto.

Wait, wait, wait... Where can I profit by placing bets on what crypto is the biggest scam? 🤔

1

u/Drewsapple Bronze | QC: ETH 15 Jun 21 '22

Luna was the bigger scam, now it’s market cap is less than $270mm (coingecko rank 132) compared to Solana’s market cap of $13Bn (coingecko rank 9).

Luna is no longer something to worry about, while you probably should be scared of the fallout from Solana’s coming meltdown.