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by pyrophane
3556 days ago
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As a thought exercise, here's how a hypothetical scam product (we'll call it Hysteria) could work. 1. Market Hysteria as a revolutionary product in whatever space is currently attracting the most hype. Get everyone excited by promising to bring a popular science fiction book/film to life. 2. Spend half an afternoon cloning bitcoin to create new cryptocurrency linked to your product and start selling the coins. Offer limited time "early mover" price to capitalize on FOMO. 3. Work your press contacts to create more buzz around Hysteria. 4. Once you collected a few million dollars selling coins, go out of business. You haven't really defrauded anyone (you delivered the promised coins, and it isn't your fault they didn't turn out to be worth anything), and in an industry where the mantra is "fail fast" your activity isn't likely to attract that much attention. |
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