Re: Not even a mention here.
Posted: November 23rd, 2023, 10:59 pm
Itsallaguess wrote:My question to you would be to ask where these types of damning articles are that relate to the more established financial controls that you often wish to compare crypto to in terms of comparable-risk?
Cheers,
Itsallaguess
The risks are not "comparible". A romance scam can ask for money or crypto. Neither relate to the currency. A Nigerian prince scam... the same.
Now INVESTING in crypto is not the same as buying dollars, dong or peso's, or is it?
Forgive me, other than bitcoin I don't deal with FX. Are foreign currency accounts in foreign banks covered by our government guarantee. European ones were, when we were part of Europe.
The damning posts on this board, with the exception of the one that confused bitcoin with Luna all relate to scams.
"‘I felt powerless’: how a crypto scam cost a finance boss £300,000"
"How the fall of the 'King of Crypto' cost one British man millions"
"iEarn Bot"
ALL SCAMS!
Indeed you make my point for me by quoting Lloyds. Here is their advice about push payments.
https://www.lloydsbank.com/help-guidanc ... -code.html
SCAMS again.
What of the British steel pensioners who were scammed?
https://committees.parliament.uk/work/6 ... cial-harm/
But that sort of stuff only happens with crypto doesn't it!
Sure FTX turned out to be fraudulent, however a quick web search turned up this about "established financial companies".
https://uk.investing.com/broker-blacklist/
To be fair at least one claims to be crypto.
Here is advice on how to avoid such, which clearly isn't needed as it's not about crypto.
https://www.investopedia.com/articles/a ... -legit.asp
However to return to your main point, crypto risks are indeed NOT the same.
As I pointed out, there are no government guarantees. Proceed at your own recognizance.
Just as you do when you cross the road, or do something less safe like enjoying skiing or playing football or rugby.
We could outlaw "Jay walking" as some countries do and ban dangerous sports. Wouldn't the country be a better place for such authoritarian rules by a benevolent dictator.