2.9: Scam Coins

There have been so many scam coins over the years. They are not dissimilar to the old "salting" fraud, where gemstones or gold ore were planted in a mine before selling overpriced shares to investors.

The crypto world has its own version. When you encounter coins with meaningless jargon-filled descriptions about "self-sustaining democratic global currencies" and "bonding curve models" — be very sceptical.

To help you avoid falling for crypto scams, it is worth reading a list of non-crypto confidence scams on Wikipedia: wikipedia.org/wiki/list_of_confidence_scams. Many of the same principles are replicated in the blockchain world. Be alert!

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