Market Stability and Pump and Dumps

hi this is charles hoskinson broadcasting live from warm sunny colorado the scenery is a little bit different because there's some construction in the office and so i'm in a different area got the eagle behind me a nice little water feature although i turned it off for the for the video and i hope you guys can hear me all right i'm actually on a laptop instead of my usual computer actually right now rebuilding that computer it's gonna be a lot of fun so i decided to make a quick video at the request of the ambassadors of cardano we've seen a huge increase in giveaway scams pump and dump scams and other things and so they wanted me to to make a kind of an fyi yeah kind of a public service announcement to basically discuss some things in particular i've been in the cryptocurrency space for almost a decade now and what happens is we see a cyclic scam occur where groups of people come they either on telegram or reddit or some forum will systematically go and try to increase the price of a particular cryptocurrency usually a smaller cryptocurrency lower volume low cap there's a quick 1015x that's made the people who organize this they basically bought early so it's usually something that they pre-buy before they do the surge and then they have their first money out and the people who end up getting hurt or a lot of retail investors now we saw this done with gamestop we also saw this done with dogecoin and there may be some organized activity for xrp and of course people do this across the cryptocurrency space and so as a psa in times of high spikes lots of volatility and other such things it is a really really really really good idea for you to exercise extreme caution and due diligence sustainable things generally don't go up 500 percent in a day because they often collapse 500 in the day and you're going to be the one who is left with the bag in your hand and those who try to manipulate this it's a game for them they make a lot of money so be very very cautious about being dragged into investment groups or getting special tips about certain things happening or some event occurring and everybody's going to get rich these are not sustainable they're not stable and generally speaking you're going to lose your money if you participate in them so that's the psa on the pump and dump side we've also seen a higher than normal incident and giveaway scams so to describe that the giveaway scam is basically where a video of me or a prominent person in the space like vitalik or elon musk or pick your favorite figure some public announcement or video they've done is taken and then usually overlaid with a screen that says hey we're doing a giveaway there's a qr code and they say somehow if you send money we'll send it back and you'll make a lot of money those are always scams unfortunately people still fall for them there's currently two lawsuits ripple is suing youtube and steve wozniak the co-founder of apple is also suing youtube because both cases they have been dragged into these giveaway scams they're often done of me and usually what ends up happening is a person's channel will be hacked because their security wasn't so good all their videos will be erased the channel will be converted over to an official cardano channel and then they upload videos of me and i can't tell you how many people have come to my youtube page complaining that i've hacked their channel so that's also a scam it's called a giveaway scam so you have pump and dump scams giveaway scam and then finally impersonation scams where people will impersonate me or a cardano ambassador or sebastian and try to create a man-in-the-middle attack by impersonating us then they try to offer technical support or say hey there's going to be an upgrade i can help you out install this software or give me your wallet recovery phrase or send me a transaction or something like that and then after they get access to your private keys either through fake software or they get access to your private keys through some sort of subterfuge like your wallet recovery phrase then they steal all your money and run away and then of course you think we did it and so you immediately go to us and say hey where's our money and i said well we had nothing to do with it that was an imposter so as another reminder no one from my company from amergo or from the foundation will ever ask you for your private keys or wallet recovery phrase if they are it's likely a scam almost certainly a scam never give it ever i will never ask you for your private recovery keys and i will never reach out to you over telegram or another channel saying i'm here for technical support or personal support or ask for a loan or something like that it's a scam in addition to this i do not have an instagram page or a linkedin page and i've seen several fake instagram accounts in linkedin accounts if you see them report them they are impersonations they're scams i don't have that page i just have a twitter page that's it so any other social channel that you guys see it's likely an imposter and it's not me i'm not on tik tok i'm not on snapchat i'm not on instagram so if you see these things get rid of them as quickly as you can then the other thing is that this space is always going to have scams and there's always going to be people floating around trying to separate you from your money so a general rule that i have which is if i don't understand something or something doesn't seem right slow the entire process down you will never have a situation where you regretted slowing things down a few days just to get a better understanding of what is going on and in general by doing so almost always it will get rid of many of the scammers they're high pressure you have to do it now we have to do this now because they're trying to get your money so if you don't understand anything don't invest don't send a transaction slow it down there's always next week and when in doubt try to federate go to the forums and ask questions go and ask ambassadors questions unfortunately i don't have a verified twitter account and and there's nothing i can do about that or otherwise i'd say hey if i had a blue check mark there you go if you need me to verify my identity i can do so and i can do so with my pgp key a scammer cannot do that so my charles.hoskinson gmail.