Bitcoin investment scam steals tens of thousands from couple as cryptocurrency losses grow - The best way to avoid scams in Bitcoin, is to just buy & hodl it. Bitcoin on it's own is the complete opposite of a scam. There are going to be many of these ponzi schemes over the next few years. They are purely designed to take your Bitcoin. This should further cement in your mind how valuable it is. If it sounds too good to be true, it often is! Ponzi schemes make you believe you're making a tonne of money; when it's start to dry up, it all comes crashing down. The initial creators run off with everyone's money.
Bitcoin is probably going to moon on it's own & make a lot of new found wealth - keep it simple & be smart. Trying to get rich over night, is a sure way to go broke. Real wealth is built over time with patience, discipline & hard work. If you've done extensive research & you're risks are well managed, time is normally your best friend. If you stack sats weekly with money you can spare, you are constantly investing into the future monetary system - Bitcoin. In my mind this is the least risky approach. Yes - Bitcoin isn't 100% guaranteed, but personally, I don't have the courage to bet against it. 21 million coins; it's a game of accumulation - try to acquire as many as you can!
Many alt-coin projects are also designed to take all your Bitcoin. Many project developers have run off with the ICO (Initial Coin Offering) funds; or a group of people pump the project on Twitter, then market dump on an exchange. Both of them are basically a form of a ponzi. This won't happen if you just own & self-custody Bitcoin. My advice, if you have to play in the shit-coin-casino, always hold majority Bitcoin. If you don't, the chances are you'll wake up one day angry at yourself that you exchanged your Bitcoin for some shit-coin. Most people don't realize; Bitcoin has the highest gains since the beginning. Zoom out as far as you can - no reason this trend cannot continue. If Bitcoin becomes the most dominate currency/asset class in the world, you cannot rule out the potential of 1000x gains from here. Everyone on Twitter looking for quick 100x gains, they can't see the long-term perspective.
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