Cryptocurrency has made many people very wealthy. There are more than 88,000 millionaires who got rich through crypto investing. In fact, there are even 17 "crypto billionaires."
But for every person who makes it big in the world of cryptocurrency, there are many times more who either never grow their investment or who lose money.
In this episode of Privacy Files, Brian Tillman returns to the studio to help Rich make sense of the extremely complex environment of cryptocurrency.
Brian runs through some examples of cryptocurrency scams with the goal of pinpointing the red flags to watch out for.
Rich takes a more holistic view by examining the common question of whether or not cryptocurrency is actually a decentralized Ponzi scheme.
This is an episode that covers many angles. On the fraud side, we look at a variety of frauds, from pig butchering scams to phishing attacks. Globally, we break down how cryptocurrency actually works to better understand what it actually is.
Is cryptocurrency really a currency? Is it an unregistered security? Or, is cryptocurrency just a decentralized Ponzi scheme?
Links Referenced:
https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=1e04cfab726b
https://dfpi.ca.gov/crypto-scams/
https://www.web3isgoinggreat.com/
https://www.youtube.com/watch?v=ORdWE_ffirg
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