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Mashinsky, who engaged directly with customers via weekly video “ask me anything” sessions and even one-on-one phone calls, was viewed more as a trusted friend or financial adviser by many, who really believed him when he said that he wanted everyone to be able to grow wealthy together using his platform, rather than lose money to banks and other financial institutions that he portrayed as the enemy. Some recognized and accepted the volatility risk inherent to cryptocurrencies like bitcoin and ethereum, but didn’t think there was a risk that the cryptocurrencies they owned might disappear entirely.

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Mashinsky, who engaged directly with customers via weekly video “ask me anything” sessions and even one-on-one phone calls, was viewed more as a trusted friend or financial adviser by many, who really believed him when he said that he wanted everyone to be able to grow wealthy together using his platform, rather than lose money to banks and other financial institutions that he portrayed as the enemy. Some recognized and accepted the volatility risk inherent to cryptocurrencies like bitcoin and ethereum, but didn’t think there was a risk that the cryptocurrencies they owned might disappear entirely.
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Molly White (molly0xfff@hachyderm.io)'s status on Friday, 06-Dec-2024 08:39:59 JST Molly White
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As someone who writes a lot about crypto frauds, I see a wide range of reactions to them. One unfortunately common reaction is to blame the victim, dismissing them as crypto degens chasing impossible returns. Reality, as it so often is, is a lot more complicated.
#crypto #cryptocurrency

In conversation about 6 months ago from hachyderm.io permalink