Let's Talk About Scammy Forks
Rhett Creighton, the founder of ZClassic and Bitcoin Private, was just kicked off the Bitcoin Private GitHub and team, after announcing interest in forking yet another coin, PrimeCoin. Shockingly (/s) the price of PrimeCoin has jumped 180% since Rhett announced he will be working to fork PrimeCoin into Bitcoin Prime. Let's talk about the ethics behind this, is it tradeable and will you get dumped on for it?
Jackson Palmer's tweet thread on the ethics of Rhett Creighton:
https://twitter.com/ummjackson/status/990096154506379264
Article on previous behaviors:
https://cryptocoremedia.com/rhett-chreighton-scammer/
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Welcome to the wild wild west of crypto.
He might be a serial forker but the development team behind Bitcoin Private is solid.
They got everything running smoothly in just a couple months.
Upvoted for "serial forker".
Due to the actions of guys like these is why regulators are watching closely how they intervened in the crypto space. The CFTC just release a tips page and bounty type program for against those that orchestrate pump and dump schemes. Although not the same, you can surely see it could seen as similar from a regulator that is dying to get involved somewhere.
Coins mentioned in post:
At first glance it's fun! However, every potential is always a lot of problems. Hopefully it ends happily as people wish 🙏
As always good quality content cryptobobby! Thank you. It is outrageous and people need to realize that for few to win much need to loose. Of course that does not need to be always the case, but crypto is another way to do business but still a business for many.
@cryptobobby You have eanred a random upvote from @botreporter because this post did not use any bidbots.