My mom and other relatives invested money in a cryptofund.The fund claims that they make money from trading. So, you can deposit btc, eth or tether and take a profit. Usually it's around 5-6% in a month, but sometimes it can be much lower or higher (2-15%). Also, all assets have different profitability, with tether as the most profitable asset. Withdrawal is available and really works and the fund has been working for 2 years now.
Can it be legit or is it just a ponzi scheme? At first, I was determined that it is 100% scam, but now I don't really know. Also, I didn't manage to convince my mom not to invest in this. What do you guys think?
Cryptofund
Joshua Rodriguez
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Isaac Baker
Nicholas Morales
Unless it's secured by a smartcontract (and there are a few companies who are doing this, but none have gotten to any real scale), there's an overwhelmingly highly probability that it's a ponzi.
She is going to get burned eventually. Never once in the history of man has a company like this existed and NOT been a scam.
Gavin Parker
That sure sounds like a ponzi scheme, but if you can get 100% of your initial out of it pretty fast then who cares?
Colton Adams
They should take their money and run
Hudson Morgan
Likely a ponzi. That said if youve been in for 2 years and reinvested 6% monthly you should be at a 4x. Take profit.
Nathaniel Nguyen
Are you serious? What have we learned about companies that give hard percentile return figures on a trading account? You realize it is physically impossible for a trader to be profitable month after month, there will be losses. As others have said, unless your capital is tied to a reliable SC you’re essentially letting online strangers control your money. Nothing screams scam like “Hey, give us your money and we will trade it and promise to give you back between 2-15% EACH month”. Are you new to crypto?
Carson Morales
>Unless it's secured by a smartcontract (and there are a few companies who are doing this)
Can you give any examples?
>18840956
The problem is they have invested a lot of money into this. I said to my mom just to buy ether and wait and not to play with any funds. But it seems she really doesn't understand that it is likely a ponzi
Jeremiah Campbell
Also, are there any big cryptofunds which work by the same scheme?
Connor Torres
>5-6% in a month
>50% in a year
>250% in 5 years
If you put 100000$ in it you will be a millionaire, it's probably a scam.
Gabriel Russell
You are basically lending your crypto, sounds like blockfi.
Nolan Lewis
Your mother will get burned OP, also crypto are not easy to get back and your government won't do shit.
Do not fall for these pajeets.
Gavin Powell
Betoken Fund, Guesser, couple others.
Look, if you don't convince her she's going to lose it all on the eve of a bullrun. This is existential shit for the future of your family's finances. She needs to get the money out yesterday. Start a fucking fight, break shit, make the point. What a fucking fool.
Of course not, no.
Michael Lee
She doesn't understand because she won't cope, you have to be more "aggressive" even lie about it but please you must convince her.
Owen Cox
I really tried but she didn't take my words seriously. She was convinced by my uncle to invest there, and his financial advice seems to be much more valuable to her than mine
Jaxon Ramirez
Also, the founder of the fund and all the employees are fully transparent and give the interviews on youtube and all that type of stuff
Juan Murphy
bump
James Stewart
Show her this video of the literal wolf of wall street explaining how tether is a scam.
Adrian Baker
>interview on youtube
Disconnect
youtu.be
Joseph Martin
Honestly as a DeFi dev i do not want a ton of idiots and boomers getting rich. this whole thing is supposed to be a financial reset. I am torn between my hatred of people like CZ and my hatred of simps who trust someone like that with their money.
In the long run at least CZ has a high enough IQ to distribute labor accordingly in the coming Blockchain Economic system. The worst thing that could happen is boomers wise up and keep their homes.
Easton Rodriguez
Just tell her “I told you so” when she loses everything. Meanwhile you just buy LINK and use the money from that to take care of her.
Nathaniel Scott
You have two options. One is 'do nothing,' and it leads to catastrophic results for your family's finances.
Figure out what the other option is and execute, or regret it for the rest of your life. We can't do any more for you.
/thread
Nolan Sullivan
>Here's a video of a guy who scammed boomers by PnDing penny stocks on them saying that tether is a scam
Why should anyone listen to this guy?
Elijah White
as if its hard to find tether fud bro
assume any place that deals in tether is a scam
Jeremiah Stewart
How long such a scheme can lasts? I will try to convince her to withdraw at least the initial amount and to stake only the profit
Joseph Powell
bump
Logan Long
>So, you can deposit btc, eth or tether and take a profit. Usually it's around 5-6% in a month
sounds like a scam
Asher Brooks
You are a fucking moron WITHDRAW NOW DIPSHIT
Asher Gutierrez
BITCONNEEEEEEEEEEEEEEEEEEEEEEEEEE-
Easton Hernandez
simple
if she doesnt hold it she doesnt own it.
she has not coins
tell her to cash out and but eth/btc and sit on it.
at least then she actually holds something
Matthew Bailey
Hex is a smart contract that prints interest.
Caleb Taylor
Post pics of your mom and I'll tell you