Run-ups of the kind bitcoin is having in price and valuation make fertile ground for scams. Scams are valuable and very teachable moments. Skin in the game, by having plunked hard-earned cash down to see a return on investment, means vigilance and due diligence are musts.
Scams Immediately Offend Morality
Scams, taking advantage of people who trusted in a business’ integrity, are not okay. I will not for a second endorse such ways of doing business.
However, fraudulence is both an art and a science. It is worthwhile for investors and those enthusiastic about bitcoin to examine bad actors in our midst. We do well by understanding their techniques. We do better by publicizing them in hopes of preparing the next person who might come across such an offer…