{"id":4986,"date":"2018-02-20T13:46:54","date_gmt":"2018-02-20T13:46:54","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=4986"},"modified":"2018-02-20T13:47:26","modified_gmt":"2018-02-20T13:47:26","slug":"ethereum-founder-vitalik-buterin-warns-against-impractical-crypto-investments-and-eth-scams","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/ethereum-founder-vitalik-buterin-warns-against-impractical-crypto-investments-and-eth-scams\/","title":{"rendered":"Buterin Warns Against Impractical Crypto Investments And ETH Scams"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/12\/vitalik-buterin.jpg\" alt=\"Vitalik Buterin\" width=\"300\" class=\"alignright size-full wp-image-1855\" \/><a href=\"https:\/\/www.forbes.com\/sites\/laurashin\/2018\/02\/07\/ethereum-vitalik-buterin-ether-crypto-cryptocurrency\/#357186366e4f\">Ethereum founder Vitalik Buterin<\/a> tweeted a series of warnings to cryptocurrency investors about the volatility of the currency and the numerous scammers now crawling on Twitter. <\/p>\n<p>Cryptocurrency has proven itself to be the most volatile of investments in the market today, after <strong>Bitcoin\u2019s unbelievable rise and fall since last year<\/strong>. In fact, the founder of the Ethereum cryptocurrency believes that cryptocurrency is more than just a currency and is a valuable but volatile asset. <\/p>\n<p>While millions of investors have jumped on the cryptocurrency wagonduring the past few months, Buterin believes <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\/exchange\">investing in cryptocurrencies<\/a>  is not for people who can\u2019t afford to lose the money.<\/p>\n<p>In a tweet, Buterin reminded his followers that cryptocurrencies are still a new those who want to buy assets should invest their life savings on traditional assets such as cash, jewellery and land instead.<\/p>\n<p><center><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en-gb\">\n<p lang=\"en\" dir=\"ltr\">Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don&#39;t put in more money than you can afford to lose. If you&#39;re trying to figure out where to store your life savings, traditional assets are still your safest bet.<\/p>\n<p>&mdash; Vitalik Buterin (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/964838207215955969?ref_src=twsrc%5Etfw\">17 February 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/center><\/p>\n<p>The popularity of the cryptocurrency industry exponentially increased last year when Bitcoin reached <strong>record-setting highs in December, reaching as much as $19,000<\/strong>. But just as quickly as it increased, bitcoin also dropped significantly since 2018 and has now <strong>reached a low of $6,000 in just under two months<\/strong>. As of writing, Bitcoin has climbed back up to $11,000. The <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\/bitcoin\">constant fluctuation of Bitcoin<\/a> \u2013 the most popular cryptocurrency in the world saw the global cryptocurrency market lose up to $100 billion in market value in 24 hours.<\/p>\n<h2>Be careful of Crypto Scammers<\/h2>\n<p>Buterin also used the Twitter platform to warn against the increasing number of crypto scammers, offering questionable cryptocurrency propositions and impersonating accounts of cryptocurrency exchanges and founders to falsely promote and scam investors. Some of the Twitter accounts that have been impersonated in recent times include <strong>Elon Musk<\/strong>, CEO of Tesla and <strong>J. Christopher Giancarlo<\/strong> who is the chairman of the Commodity Futures Trading Commission.<\/p>\n<p>Buterin warned his followers not to trust anyone who asks for ETH on Twitter after a wave of scammers victimized people with the popular catch that they\u2019ll be sending you more crypto in exchange for <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\/ethereum\">ETH<\/a>.<\/p>\n<p><center><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en-gb\">\n<p lang=\"en\" dir=\"ltr\">Time that it takes for scammers to copy my new profile picture: 10 minutes.<\/p>\n<p>DON&#39;T TRUST ANYONE ASKING FOR OR OFFERING MONEY ON TWITTER.<br \/>DON&#39;T TRUST ANYONE ASKING FOR OR OFFERING MONEY ON TWITTER.<br \/>DON&#39;T TRUST ANYONE ASKING FOR OR OFFERING MONEY ON TWITTER. <a href=\"https:\/\/t.co\/wcDAJoh6jD\">https:\/\/t.co\/wcDAJoh6jD<\/a><\/p>\n<p>&mdash; Vitalik Buterin (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/965153915351126017?ref_src=twsrc%5Etfw\">18 February 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<\/center><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum founder Vitalik Buterin tweeted a series of warnings to cryptocurrency investors about the volatility of the currency and the numerous scammers now crawling on Twitter. Cryptocurrency has proven itself to be the most volatile of investments in the market today, after Bitcoin\u2019s unbelievable rise and fall since last year. In fact, the founder of [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-4986","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buterin Warns Against Impractical Crypto Investments And ETH Scams<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/ethereum-founder-vitalik-buterin-warns-against-impractical-crypto-investments-and-eth-scams\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buterin Warns Against Impractical Crypto Investments And ETH Scams\" \/>\n<meta property=\"og:description\" content=\"Ethereum founder Vitalik Buterin tweeted a series of warnings to cryptocurrency investors about the volatility of the currency and the numerous scammers now crawling on Twitter. Cryptocurrency has proven itself to be the most volatile of investments in the market today, after Bitcoin\u2019s unbelievable rise and fall since last year. In fact, the founder of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/ethereum-founder-vitalik-buterin-warns-against-impractical-crypto-investments-and-eth-scams\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-20T13:46:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-02-20T13:47:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/12\/vitalik-buterin.jpg\" \/>\n<meta name=\"author\" content=\"Petar Markoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@petarbejbi\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Petar Markoski\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" 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