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This is an opinion piece written by our Executive Editor, and does not necessarily reflect the opinions and views of Global Crypto TV.

So, ironically, while Bitcoin experiences its biggest run since December 2017, yet another crypto scam gets slammed with criminal charges.

I hate to be the one to say “I told you so”, but… I did warn people about:
– BitClub: SCAM
– Lifestyle Galaxy: SCAM
– Bitconnect: SCAM
– Karatbars: SCAM
– MTI: SCAM

And yes, I am now comfortable labelling MTI a scam. The investigations of the FSCA give me credence to do so.

Why am I so hellbent on calling out bad actors in this industry? Because it’s such a powerfully disruptive industry.

I sincerely believe that blockchain tech (specifically Bitcoin) will be just about as influential as the internet itself. With an industry as overwhelmingly powerful as the finance and banking industry, with its tentacles weaved into every orifice of society, it will take something gargantuous to disrupt it. Bitcoin and a select few other decentralised, open source blockchains, can (and most likely will) do this.

Your self-serving get-rich-quick schemes (I’m talking to you network marketers) serve only to tarnish the name of the technology and not only delay but even hinder its transformation of society. Not only that, but you profoundly hurt the poor souls you plunder when your schemes collapse.

You are hurting society in more ways you can imagine with your scams.

This is not only people’s livelihoods you’re playing with, this is the very transformation of a global system. Which is why your weak and repulsive scams are more sinister than the traditional quintessence of Amway or Herbalife, who lie to new recruits to peddle their products. But the only name they’re tarnishing is that of their own (and to an extent the network marketing industry itself).

Crypto scams on the other hand are tarnishing an entire industry that was fabricated with the altruistic ambition of changing the world.

Stop being so selfish & stop with your bullshit. Just stop it already

I sincerely couldn’t care less if one Bitcoin is worth $1. It’s not about early adopters getting rewarded for their faith. It’s about an egalitarian financial system that belongs to the people.

Satoshi Nakamoto and the original Bitcoin community designed (and continue to design) a transformative tool that is truly unprecedented. And you, dear scammers, are pissing on everything Satoshi stood for.

So again I say: Stop it.

James Preston
James Preston is the Executive Editor of Global Crypto. He is a writer and media commentator who has been reporting on how the Tech industry will make the world a better place for 14 years, with a large following on South African radio. He is an early adopter of Bitcoin, and began reporting on its revolutionary capabilities in late 2014. Philosophical by nature, he is intrigued by how the world works, and in turn, how it can be bettered. James believes wholeheartedly that the world can become as close to perfect as we humans can imagine, but it will take a lot of effort (and time) to get there. He believes his life purpose is to inspire people to believe this, and find their place in helping humanity achieve it. James regularly does talks on emerging technology and its impact on society at Universities, global conferences, and events. To invite him to speak at your event, or comment for your media outlet, email info@globalcrypto.tv