Vulture Capital Swindlers Joke About Plans to Dump Worthless Cryptocurrency onto Retail Stooges

Several years ago, I discussed an important fact about cryptocurrencies that’s never mentioned. I explained how one of the primary features of cryptocurrencies that was being pitched as a way to validate their utility was destroyed by crypto exchanges.

Once the exchanges got involved, they transformed these digital tokens into a casino for users and a fee machine for the exchanges. That’s a discussion you won’t ever hear about because the most prominent individuals in the industry don’t want the sheep to realize how they are being ripped off.

Most people hear about the more obvious cryptocurrency scams involving hacks into customer crypto wallets, email spoofs, Ponzi schemes, illegal offerings, etc. But as I emphasized several years ago, the really big money is being stolen by Wall Street and VCs who own and control the majority of crypto exchanges.

You see, because crypto exchanges aren’t regulated they can determine any price they choose when you buy and sell your crypto tokens. And if you think you’re being ripped off there’s absolutely nothing you can do about it.  Of course the exchanges aren't going to give you a price that's way off from the listed bid and ask because this would make it too obvious that users were being scammed. And once the word spread, the exchange would no longer be used.

But crypto exchanges don't need to deviate from the bid and ask prices in order to print money at the users' expense. Cryptoexchanges determine the bid and the ask prices for each cryptocurrency. This provides the exchanges with sufficient control required to guarantee consistent profits. Essentially, cryptocurrency exchanges are able to game the system much like online poker companies.

Ironically, many of the people who believe in and trust cryptocurrencies also trust online gaming as being legit and honest.

There's a suck born every minute, right? 

It’s doubtful that many people involved in cryptocurrencies even realize they're being ripped off on every trade. Quite simply, crypto exchanges are printing money with ease.

Wall Street and VC firms are also getting in early on by launching/funding crypto coins for the purpose of executing pump-and-dump schemes. After all, pump-and-dump schemes are one of the specialties of venture capital and Wall Street firms. If you weren't aware of that, I suppose you really don't understand the IPO process. 

The most appealing aspect of crypto pump-and-dumps for the professional investors is that they face virtually no oversight or penalty for fraud by securities regulators.

That's the beauty of creating something that’s decentralized, right? The government isn't involved. Decentralization creates a perfect platform for crooks because there's virtually no threat of being prevented from defrauding users or even prosecuted for fraud by the "bad government." 

When you lose money as a result of one of hundreds of different types of scams in the cryptocurrency industry, you will be wishing that these tokens were centralized so regulators could get your money back and send the crooks to prison.

A few years ago I revealed that Wall Street had taken over the cryptocurrency market by around 2015. Early on vulture capitalists did their part to pump Bitcoin in order to get more retail stooges involved. And it worked. Below is a video I released in April 2012 discussing this. 

Early on, a few notable (and actually very sleazy) VCs publicly promoted their investments in bitcoin. That should have been a red flag. Their objective was to make it seem like cryptocurrencies were being endorsed by credible professional investors so that more suckers would pile in.

What they never revealed was that the bulk of their investment was not in the actual coins, but in cryptocurrency exchanges. Since VCs have moved on to launch and fund their own coins so they can be assured of massive gains.

An unregulated cryptocurrency industry represents one of the most lucrative gravy trains for scam artists from Wall Street and venture capital because it offers them the previously unheard of appeal of essentially no risk and a high certainty of high returns.

As well, piling money into the cryptocurrency industry allows Wall Street and venture capital crooks to evade the typical regulatory hurdles that (unfortunately) represent only a minor setback or inconvenience to most of their criminal activities. This is why so many Wall Street and VC players have gotten involved in the space. It’s the easiest ticket to fleece the sheep without any fear of accountability.   

Listen carefully to the video clip below, as Sri Lankan swindler and SPAC scam artist Chamath Palihapitiya, David Sachs and another Jewish VC swindler joke about their plans to dump massive amounts of the VC-backed coin Solana onto retail stooges.

This is clip illustrates only a tiny slice from within a large universe of scams playing out in the cryptocurrency space.  And it reveals yet another dirty side to the crypto industry no one is talking about.

Only fools put their money into some invisible digital token backed by nothing, has no real value and is only worth what you can redeem it for at that particular instant (assuming you don’t suffer a power outage or your mobile network doesn’t go down).    

You should ask Elon Musk, Jack Dorsey, Cathie Wood and other high profile crypto pumpers why no is talking about these things. 

The answer should be obvious. They are gaming retail stooges.