Understanding Shitcoins

By Leo Gura - December 14, 2022

I found this whole discussion fascinating:

Beware of shitcoins, ponzi schemes, and shady equities.

This video pairs nicely with my video about How To Avoid Getting Scammed

Unfortunately our education system teaches youngsters absolutely zero about how to avoid financial scams and frauds — which are quite common throughout all of history.

It takes a lot of wisdom and life experience to be good at sniffing out scams. Since my Dad was a professional con-artist, I’m really good at smelling scams to the point of taking my ability for granted, but most people are suckers who are easily scammed. The whole crypto/NFT industry is extremely scammy and attracts some of biggest scumbags with no integrity. And the celebrities who promote this shit on social media and elsewhere also have low integrity. Never trust celebrity endorsements. The entire celebrity endorsement industry is a scam, even if it’s just for makeup or skin cream. Celebrities have no shame pitching this stuff to their gullible fans.

Here’s a good example of that. This guy made $15 million promoting a shitcoin:

Notice this: When it comes to your money, being conservative is a very good idea. All this shitcoin nonsense is the result of excessive financial liberalism. Without a conservative mindset you will lose most of your money at some point.

Full Disclosure: I own some Bitcoin. This is not investment advice.

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