Crypto Scams and Small Steps: Navigating Challenges and Unveiling Hive Opportunities in Sri Lanka
(edited)
Hello Hives,
I am still thinking about how I need to start this discussion. It's a bit hard to find an initiative for this discussion due to my lack of English vocabulary. So, I will start this in a story mode based on my personal experience.
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A few months ago, I met a neighbor (uncle) & he said, "Son, I'm now earning Dollars, and I'll tell you how." Initially, I felt amazed, but then I became cautious. Therefore, I didn't respond immediately. He proceeded to explain how he was earning these "Dollars." He introduced me to OnMaxDT and how it generated "Dollars." This scheme turned out to be one of the most notorious Ponzi schemes that scammed billions of LKR this year. Their "so-called" business model involved trading in cryptocurrencies and sharing profits.
Honestly, it was a significant Ponzi scheme with a pyramid structure. So, I told that uncle, it would be better for him to invest his money in Hive. He could convert them to HBD, put them into savings, and potentially earn a 20% APR in "Dollars". Unfortunately, he didn't hear my advice and is now suffering the consequences of that scam, along with the anger of the people who invested under him.
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While I was at my office, we experienced some networking trouble. So, we asked for support from our service providers. Since we know them personally, two members of their support team arrived. Interestingly, they hadn't invested in OnMaxDT. They proudly mentioned that they had invested in MTFE, a cryptocurrency trading platform.
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A lot of crypto-related scams are happening in Sri Lanka. This is because we are in a crisis event, and the LKR has no real value at the moment. As a result, people are trying to collect "Dollars," and they end up falling into these scams.
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Honestly, this is not an easy task to do. When they hear "Crypto," they might immediately label it as a Ponzi scheme, a Pyramid scheme, and so on. In most cases, (based on my experience) they primarily want to know "The return on investment (ROI)."
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When I heard this, honestly, I felt angry. So, I stopped telling them to invest in HIVE and trade at their own risk. However, a few of them listened to me well and are now trading on Binance. That's a positive outcome, in the end.
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As an individual, I can't perform a large-scale task, but I intend to initiate action with a small step. I plan to gather HIVE/HBD to purchase ten (10) pairs of shoes for students. I will print Hive logo stickers and attach them to the covers of the shoes.
Then I will tell these people my story of Hive and how Hive supported my life financially and professionally. I want to share the story of a crypto project that changed me and my environment. I want to show them a path to make real money by adding value to a true crypto community.
I want to be honest; I haven't made millions of dollars from HIVE or any other crypto project. However, HIVE has helped me survive this crisis caused by politicians. I believe everyone has an opportunity to genuinely contribute to the community. Perhaps, they might share significant success stories in the future.
As a Sri Lankan, a member of the Hive community, and a true crypto enthusiast (open ledgers never lie), I will take a further small step. I hope these steps will bring genuine value and true essence to the Hive community.
Finally I believe, people in Sri Lanka will invest in HBD, save their funds, and earn a 20% APR, rather than investing in crypto scams.
I am still thinking about how I need to start this discussion. It's a bit hard to find an initiative for this discussion due to my lack of English vocabulary. So, I will start this in a story mode based on my personal experience.
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The Story
Sri Lanka is a bankrupted country. As a result, we are facing a very difficult time as a nation. As a result, many people are migrating in search of a better life or to collect "United States Dollars (USD)" instead of Sri Lankan Rupees (LKR).A few months ago, I met a neighbor (uncle) & he said, "Son, I'm now earning Dollars, and I'll tell you how." Initially, I felt amazed, but then I became cautious. Therefore, I didn't respond immediately. He proceeded to explain how he was earning these "Dollars." He introduced me to OnMaxDT and how it generated "Dollars." This scheme turned out to be one of the most notorious Ponzi schemes that scammed billions of LKR this year. Their "so-called" business model involved trading in cryptocurrencies and sharing profits.
Honestly, it was a significant Ponzi scheme with a pyramid structure. So, I told that uncle, it would be better for him to invest his money in Hive. He could convert them to HBD, put them into savings, and potentially earn a 20% APR in "Dollars". Unfortunately, he didn't hear my advice and is now suffering the consequences of that scam, along with the anger of the people who invested under him.
Shall I tell you my second experience?
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While I was at my office, we experienced some networking trouble. So, we asked for support from our service providers. Since we know them personally, two members of their support team arrived. Interestingly, they hadn't invested in OnMaxDT. They proudly mentioned that they had invested in MTFE, a cryptocurrency trading platform.
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"Again, a crypto trading???"
According to them, MTFE trades every day, and you can copy their trades. If you invest $200, you could earn $4 daily. All you need to do is turn "on" the "Copy Trades" button and turn it "off" after a couple of hours. The most amusing part is that you'll experience a trade loss every week.Image Source
"Wow, a defined trade loss per week only???"
Feeling funny right? To be honest, I feel bad. Billions of LKR have already been invested in this scheme too. It's a type of HYIP (High Yield Investment Program) that scammed people by claiming, "We trade crypto and it's highly profitable." Both of them utilize Binance P2P option to gather funds. As a result, I fear that the Central Bank of Sri Lanka (a bunch of well-known idiots) might ban Binance and say, "Everything is fine now."A lot of crypto-related scams are happening in Sri Lanka. This is because we are in a crisis event, and the LKR has no real value at the moment. As a result, people are trying to collect "Dollars," and they end up falling into these scams.
Introducing HIVE for Sri Lankans
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Honestly, this is not an easy task to do. When they hear "Crypto," they might immediately label it as a Ponzi scheme, a Pyramid scheme, and so on. In most cases, (based on my experience) they primarily want to know "The return on investment (ROI)."
"ROI of investing on HIVE???"
Image Source
When I heard this, honestly, I felt angry. So, I stopped telling them to invest in HIVE and trade at their own risk. However, a few of them listened to me well and are now trading on Binance. That's a positive outcome, in the end.
What am I supposed to do?
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As an individual, I can't perform a large-scale task, but I intend to initiate action with a small step. I plan to gather HIVE/HBD to purchase ten (10) pairs of shoes for students. I will print Hive logo stickers and attach them to the covers of the shoes.
Then I will tell these people my story of Hive and how Hive supported my life financially and professionally. I want to share the story of a crypto project that changed me and my environment. I want to show them a path to make real money by adding value to a true crypto community.
I want to be honest; I haven't made millions of dollars from HIVE or any other crypto project. However, HIVE has helped me survive this crisis caused by politicians. I believe everyone has an opportunity to genuinely contribute to the community. Perhaps, they might share significant success stories in the future.
As a Sri Lankan, a member of the Hive community, and a true crypto enthusiast (open ledgers never lie), I will take a further small step. I hope these steps will bring genuine value and true essence to the Hive community.
Finally I believe, people in Sri Lanka will invest in HBD, save their funds, and earn a 20% APR, rather than investing in crypto scams.
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