Spoiler alert! NO.
I just suffered a rugpull from a project that I previously showcased as one of my top3 altcoins. Unimex dumped 90% with the lead guy, Farmland, giving some bullshit story about how one of the other devs was trying to extort him for $1M. We'll see if it turns out to be true. They didn't immediately close the Telegram group, which is what scammers usually do. But right now, I'm sitting on a 90% loss and can't even sell the dead tokens back to the liquidity pool because ETH fees are more than what I would get for the damn tokens.
As I'm dealing with this crap, Coinbase AND Crypto.com are apparently down for the count. This is news I had to hear secondhand, because I never use Coinbase or Crypto.com. (It's a government trap to get all of your info to tax the hell out of your crypto gains!) But for you noobian plebs who do use it, your life is over right now. You're probably worried sick and there's no one to call, so you pretty much have to wait on Coinbase tech to fix the problem. Protip: Expect more of these kinds of brownouts as the bull run heats up.
Even with all of this going on, I will never say that any traditional government has the right to regulate crypto. I'm willing to take these losses and keep it moving rather than invite the vampire who wants to leech from me into my house. Let me tell you noobs something. Even though we are headed into a bull market, you WILL suffer losses that you do not deserve. If you go running to some "authority" outside of crypto to fix it for you, you ruin the short term profit opportunity for yourself and everyone else. US citizens are already shut out of dozens of profitable projects only because the US government can't find a way to tax you on gains. More importantly, you put power back in the hands of the very people who crypto is meant to keep out of your life.
If you get rugged in crypto or you suffer technical setbacks, here's what you do. You yell about it in your favorite Telegram group and then you move the fuck on. If you can't lose $1000 without crying to the po-po, get out of crypto. Right NOW.
———
Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
