SCOTTY THE AI COIN CRYPTO SCAM UPDATE NEWS LEGIT

NET CRYPTO
21 Mar 202412:17

TLDRThe video discusses the launch of Scotty the AI, a cryptocurrency that is suspected to be a scam. The speaker warns viewers about the dangers of staking in such schemes, where the price initially pumps up after the launch but then drops, leaving many investors stuck. The video compares this to previous scams like BTC2 and highlights the importance of not participating in staking to avoid being scammed. The speaker also promotes a crypto log book as a tool to help investors track and evaluate the legitimacy of pre-sales and avoid falling for scams.

Takeaways

  • 🚀 Launch Day for Scotty the AI - The video discusses the launch of Scotty, an AI-related cryptocurrency.
  • ⏰ Warning on SCAM - The presenter warns viewers about the potential scam nature of Scotty, advising caution against staking due to the risk of being locked into it.
  • 📈 Price Fluctuations - The script mentions the price of Scotty token spiked to 0.27 before starting to drop, indicating typical pump-and-dump patterns.
  • 🔒 Staking Risks - The presenter emphasizes the risks of staking, where many investors may find themselves unable to claim or sell their tokens, leading to losses.
  • 🌐 Website Grade Out - The official website for Scotty is reportedly down, which is a red flag for the presenter and viewers.
  • 🔄 BTC2 Comparison - The video compares Scotty's scheme to a previous scam involving BTC2, suggesting the same people may be behind both projects.
  • 📝 Record Keeping - The presenter suggests using a physical log book to track pre-sales, token prices, and other important investment data to avoid scams.
  • 📚 Crypto Ego Log Book - A specific log book is mentioned as a tool for investors to help them analyze and record their cryptocurrency investments and avoid scams.
  • 🛒 Safe Buying Strategy - The advice given is to buy tokens after the pre-sale launch, at a safer price point, rather than during the pre-sale.
  • 📉 Price Drop Observation - The presenter notes that the price of Scotty tokens is dropping, and advises viewers to be cautious of buying in at high prices.
  • 🤔 Evaluation of Legitimacy - The importance of evaluating the legitimacy of a cryptocurrency project before investing is stressed, with the presenter sharing personal strategies for doing so.

Q & A

  • What is the main topic of the video?

    -The main topic of the video is the launch of Scotty the AI and the discussion of its nature as a scam (SCEM), particularly focusing on the staking aspect of the token sale.

  • What is the warning given to viewers about staking in the context of Scotty the AI?

    -The warning is that viewers should not be tricked into staking their tokens, as the staking mechanism forms the pillar of the scam, locking many investors into the system and preventing them from selling their tokens even if the price pumps up after launch.

  • What happened with the price of Scotty the AI during the pre-sale and after launch?

    -During the pre-sale, the price of Scotty the AI pumped up to 0.027, but after the launch, the price started to drop, illustrating the typical pattern of such scams where initial price increases are followed by a decline.

  • How does the speaker suggest viewers avoid falling for such scams?

    -The speaker suggests that viewers should educate themselves against scams, for example, by using tools like the 'Big Brain Crypto Ego Log Book' which helps track and evaluate pre-sales and their legitimacy.

  • What is the role of the 'Big Brain Crypto Ego Log Book' in the context of the video?

    -The 'Big Brain Crypto Ego Log Book' is a tool recommended by the speaker to help viewers track and evaluate pre-sales, record important data like launch prices and adoption rates, and ultimately, to wise up against scammers.

  • What is the significance of the Telegram and Twitter follower counts in the context of the video?

    -The Telegram and Twitter follower counts are used as indicators of adoption rates for the token or project. High or increasing follower counts might suggest potential growth and success, even for projects that are suspected to be scams.

  • What is the advice given for buying into a new cryptocurrency project?

    -The advice given is to never buy into a pre-sale and instead wait until after the launch, when it is safer to invest. The speaker also emphasizes recording all relevant information to make informed decisions.

  • How does the speaker describe the typical pattern of a scam in cryptocurrency token sales?

    -The speaker describes a typical scam pattern as involving an initial price pump during the pre-sale, followed by a drop after launch, with many investors being locked into staking and unable to sell their tokens, thus being unable to benefit from any price increases.

  • What is the importance of recording investment decisions and outcomes?

    -Recording investment decisions and outcomes is important for self-reflection and learning, allowing investors to track their thought processes, emotions, and the results of their actions, which can lead to better decision-making in the future.

  • What is the speaker's final verdict on investing in Scotty the AI at the current price point?

    -The speaker advises against investing in Scotty the AI at the current price point, considering it too risky and suggesting that those who bought at the pre-sale price of 0.207 are now in profit, but most others are not able to benefit due to the staking mechanism.

Outlines

00:00

🚀 Launch Day for Scotty the AI and the SCAM Warning

The video begins with a warning about the launch of Scotty the AI, a potential scam (SCAM). The speaker advises viewers not to get tricked into staking their tokens, as the value of Scotty has already spiked and is likely to plummet. The speaker explains that the scam relies on staking, which locks tokens and prevents users from selling even if the value drops. The speaker also mentions similar scams in the past, such as BTC2 and Dogecoin 20, and warns viewers to be cautious of the pre-sale prices and the risks associated with buying at inflated launch points.

05:01

📉 Post-Launch Analysis and the Risks of Pre-Sale

In this paragraph, the speaker continues the discussion on the risks of buying into pre-sales, especially at the final stages where prices are artificially inflated. The speaker provides an example of how buying at the pre-sale's last stage at 0.207 and the launch price of 0.27 is extremely risky. The speaker emphasizes the importance of waiting for the right price point to invest and suggests that the safe price for Scotty the AI would be much lower than the current launch price. The speaker also mentions a crypto log book available on Amazon, which can help viewers track pre-sales and make informed decisions against scams.

10:01

📈 Tracking and Evaluating Investment Strategies

The speaker concludes the video by discussing the importance of tracking adoption and community growth for potential investments. Despite a project being a scam, it may still experience growth and success, as seen with Bitcoin ETF. The speaker suggests using social media follower counts as an indicator of adoption. The speaker also reiterates the value of the crypto log book for tracking pre-sales, evaluating legitimacy, and recording investment decisions and outcomes. The speaker ends with a reminder to viewers to share their experiences and to continue being vigilant against scams.

Mindmap

Keywords

💡cryptocurrency

Cryptocurrency refers to digital or virtual currencies that use cryptography for security and operate on decentralized networks, such as blockchain technology. In the context of the video, cryptocurrencies are the central theme, with the discussion revolving around various coins and tokens, their launches, and investment strategies.

💡scam

A scam in the context of the video refers to fraudulent schemes or deceptive practices often associated with cryptocurrency launches, where investors are misled into making poor investment decisions, often resulting in financial loss. The video warns viewers about such scams and how they operate, particularly through staking mechanisms.

💡staking

Staking in the context of cryptocurrencies is the process of participating in the proof-of-stake (PoS) consensus mechanism by holding and 'staking' a certain amount of tokens in a wallet to support the network's operations, such as validating transactions. However, the video highlights how staking is misused in scams to lock investors' tokens, preventing them from selling or benefiting from price pumps.

💡price pump

A price pump refers to a rapid increase in the price of a cryptocurrency, often orchestrated by market manipulation or hype. In the video, the speaker mentions a price pump as part of the scam strategy, where the price is artificially inflated to attract investors, only to drop significantly afterward, leaving many with losses.

💡pre-sale

A pre-sale in the cryptocurrency market is when a new token or coin is made available for purchase before its official launch. This is often seen as an opportunity for early investors to buy at a lower price. However, the video warns that pre-sales can be risky, as they may be part of a scam where the price is artificially inflated and then drops significantly after the launch.

💡BTC 20

BTC 20, as mentioned in the video, appears to be a specific cryptocurrency or token that was part of a scam. It serves as an example of how scams operate in the cryptocurrency space, with the token's price being artificially inflated during the pre-sale and then dropping significantly after the launch.

💡blacklisted wallets

Blacklisted wallets in the context of the video refer to digital wallets that have been restricted or blocked from certain actions, such as claiming or staking tokens. This is a tactic used in scams to prevent investors from accessing or withdrawing their funds, thereby trapping them in a loss-making situation.

💡Dogecoin 20

Dogecoin 20 is mentioned as another token that the speaker believes is part of a scam, similar to BTC 20. It serves as an example of how scams can involve multiple tokens and how investors need to be cautious of the risks associated with new token launches.

💡Bitcoin ETF

Bitcoin ETF refers to a Bitcoin Exchange-Traded Fund, which is a financial product that tracks the price of Bitcoin and can be traded on stock exchanges like a stock. In the video, it is mentioned as part of a scam, where investors are encouraged to stake their tokens, locking them in and potentially leading to financial loss.

💡Amazon affiliate link

An Amazon affiliate link is a unique URL that directs users to Amazon's website, and the person who provides this link earns a commission if a purchase is made through it. In the video, the speaker provides an affiliate link to a book that is meant to help investors avoid scams, serving as a tool for education and protection against fraudulent schemes.

💡legit evaluation

Legit evaluation refers to the process of assessing whether a cryptocurrency project or token is legitimate or a scam. In the video, the speaker emphasizes the importance of conducting one's own evaluation before investing, using tools like a log book to record and analyze information about pre-sales, token prices, and project developments.

Highlights

Introduction to the net crypto platform and its focus on providing important information and news about coins and tokens.

Launch day for Scotty the AI, a significant event discussed in the transcript.

Discussion on the nature of Scotty the AI as a scam (sce-m), with a warning not to get tricked into staking.

Explanation of how the scam works, with people being locked into staking and unable to claim or sell their tokens.

Mention of the price pump to 0.027 and the subsequent drop, illustrating the volatile nature of the token's value.

Comparison with a previous scam, BTC2, and the similarity in their approach to staking and scamming.

Discussion on the blacklisting of certain wallets, preventing them from claiming tokens.

Advice on not buying at the current high price point and waiting for a safer entry point.

Explanation of the pre-sale stages and the recommended strategy for buying tokens post-launch.

Introduction of the 'Big Brain Crypto Ego Log Book' as a tool to help users avoid scams and track investments.

Description of how to use the log book to record and evaluate pre-sales, launch prices, and legitimacy checks.

Emphasis on the importance of tracking price movements and investment decisions in the log book.

Discussion on the Telegram and Twitter adoption tracking as a way to gauge the potential success of a token.

Advice on avoiding scams by being vigilant and not participating in negative discussions in Telegram groups.

Final thoughts on the current state of Scotty the AI's token price and the likelihood of profit for those who bought in the pre-sale.

Encouragement for viewers to share their experiences in the comment section to raise awareness of the scam.

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