I just watched the documentary Bitconned on Netflix and loved it. However, I found myself screaming at the TV a bit in frustration. I couldn’t stand the main character and the people he surrounded himself with. I found them uncaring, manipulative, and deserving of lots of jail time.
The documentary does a great job showing the importance of real journalism and law enforcement – even if they were slow to act in the era of scam ICO offerings. I was rooting for the New York Times journalist the whole time.
Don’t get me wrong. I like cryptocurrency in many ways. But I will be the first to admit that the space is rife with scam artists. Much of this is because transactions are final and irreversible. So you have to be careful!
I remember in the 2017-2020 era seeing so many scams. Centra, the subject of the film was by no means the only scam. I spent hours trying to convince people that Bitconnect was a scam, usually to no avail. I remember talking to people and even one of the biggest YouTube promoters themselves in an effort to dissuade people. Of course I was met with statements like, “quite spreading fud!”
Check out the documentary trailer below.
I remember watching the actual Bitconnect event and the joy they all had because they all thought they were getting rich. To this day I didn’t know who was the leader of that scam, but I just looked it up. Apparently, a 36 year old from India was indicted last year as a part of the $2.4 billion cryptocurrency scheme. (source)
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