Chapter
What makes a cryptocurrency a scam?
2:25:59 - 2:35:52 (09:53)
The term "scam" can be applied to cryptocurrencies with intentionally deceptive leaders, as well as those with flawed implementation. However, some people are more conservative with the term, using it only for coins that are legitimately attempting to defraud investors.
Clips
The language used in the cryptocurrency industry can be confusing, especially when it comes to distinguishing between scams and legitimate coins.
2:25:59 - 2:27:58 (01:59)
Summary
The language used in the cryptocurrency industry can be confusing, especially when it comes to distinguishing between scams and legitimate coins. Some investors use the term "scam" more conservatively, while others use harsh terms like "shit coins" to describe the same thing. It's important to do thorough research and consult with trusted individuals before investing in any cryptocurrency.
ChapterWhat makes a cryptocurrency a scam?
Episode#188 – Vitalik Buterin: Ethereum 2.0
PodcastLex Fridman Podcast
The legitimacy of a project lies on its intention, implementation, and community.
2:27:58 - 2:35:52 (07:54)
Summary
The legitimacy of a project lies on its intention, implementation, and community. An excited community does not determine a project's authenticity, but it makes it hard to determine what is a scam and what is not.