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I Called an Investment Scam - Here is What Happened - YouTube
Channel: Learn to Invest - Investors Grow
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Hi, I'm Jimmy in this video,
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I want to show you what happened
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when I reached out to one of the
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many investment scams
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out there.
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I got them from you know, they
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comment on a lot of YouTube
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investment videos and I'm sure many
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other places.
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So broadly speaking, it would seem
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that most people would recognize
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the fact that these comments are
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scams.
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But the fact that these scammers
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continue to run these
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investment scams that continue to
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put up posts implies
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that at least some people are
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falling for these scams.
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Otherwise, they wouldn't be doing
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it. So here's a good example
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of what these investment scams look
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like. This is the comment that came
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from one of our recent videos.
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And as you can see, it sort of
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rambles on and on.
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And then it says that this
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particular investor was able
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to make make eight Bitcoin
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with just an initial investment
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of one point five Bitcoin.
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Now, just so we're on the same page
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right now, Bitcoin is trading for
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about nine thousand dollars.
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So what they're saying in this scam
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is that for an investment of
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thirteen thousand five hundred
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dollars, they were able to get
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back seventy two thousand
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dollars in just three weeks.
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And like clockwork, as most
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of these scams go almost
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right away.
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This comment had boards reply
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to this particular comment with
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things like, well, this is great.
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And this turned my life around in
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just three weeks.
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And on and on it goes.
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Now, most of us can look at this and
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say, this is garbage.
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I hate scams like this, but some
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people must fall for it.
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Otherwise, they wouldn't be doing
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it. OK.
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That being said, if we've
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ever been curious what what is
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behind these scams, I've actually
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been curious.
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Not if it's legit or not, just how
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crazy is this scam.
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So what I did is I reached out to
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one of these investment scammers.
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Now, I actually don't have the
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original message anymore since
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I didn't take a screenshot of the
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one that I was replying to.
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I wrote down their information
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and then YouTube must have flagged
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it as being a bot or spam
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or whatever it was.
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But basically it was exactly like
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this post post.
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It was exactly like this post was.
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And many of the other dozens
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that I'm sure we've all seen.
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OK, so the first thing I did was I
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created a fake email address and I
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got a burner phone.
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And I was also very careful to only
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email these people using an
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old computer just
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in case when they emailed me back,
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if they had any viruses, spyware or
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anything like that embedded in it,
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it wouldn't affect my computers and
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I actually care about.
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So the comment that I was replying
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to was talking about an
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amazing investment manager
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named Gerrald Hamilton.
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And the comment actually gave
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Gerrald Hamilton's phone number.
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So I want to help.
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I went ahead and called the great
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Mr. Hamilton, and I actually got a
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quick audio clip that I recorded
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of that conversation.
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Now, I did crop out some of the
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small talk, the ask him where I
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live. I just made stuff up.
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He asked me if I had any investment
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experience.
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I said, ah, shucks, I don't have
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any. I hope to have, you
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know, great a great experience with
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you. I hope I can make a lot of
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money. Here's what that clip sounds
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like.
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So I'm just going to make a
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prediction. But you know, it trading
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upside down, I'm going to you know,
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I find it so easy,
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all of it, if you're too.
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I hope it. Right now to
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wait until then.
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If I get out,
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though.
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I want you to look.
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I know that I
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am today, but
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I'm not
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going to I if
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I buy it a
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hundred and.
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Right.
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Yeah.
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Well, you're putting that date
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in it.
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Thanks again.
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I have one 800
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five.
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OK.
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Promise me you'll be
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happy.
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But.
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OK. Now, just to be clear, if we
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give this guy five hundred dollars,
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he can return eight hundred seventy
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five dollars per week because
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apparently he day trades Bitcoin
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seven days a week and
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apparently he's never wrong.
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Thankfully, he's got these amedi
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amazing investment day trading
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signals.
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OK, now, after he said all of that,
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I asked him if he can email me the
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math so I could review it with my
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wife. He said he would.
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And then he explained that
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my minimum investment had to be at
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least two thousand dollars.
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I said I was super excited to get
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started.
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Email me and e-mail me
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the investment proposal.
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And if he could send me something
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verifying that he was legit and
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he did. First, he sent me
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his certificate and we can see that
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the great Mr. Gerald Hamilton
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is an expert in advanced trading
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technologies.
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And he received this certificate
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from Modulus.
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Now, one of the first things that
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jumps out at me was the fact that
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this particular certificate expires
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in twenty, forty seven and he got
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it in twenty seventeen.
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This means that this particular
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certificate last thirty years.
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Now, just to give us a point of
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comparison, if we got our series
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seven license, which is what we need
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to be a stockbroker, that series
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seven last two years before
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we have to renew it.
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This one last 30 years.
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So that's a bit suspicious.
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And now I was actually curious if
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this company was a real company.
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It turns out they are a real
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company. Looks like they provide
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some of the technology behind
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different trading platforms, but
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there is no indication that they
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actually give out any certificates.
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I've actually called them a few
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times. I tried reaching out to sea
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to the CEO of that company to let
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them know what these people are
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saying, that they're getting a
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certificate from there.
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But he hasn't come back to me.
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OK. Then onto the email itself.
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So this is a screenshot of the exact
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e-mail you sent me.
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So first he said he needs some basic
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information.
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Simple enough.
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And then if we invest it, this is
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the math he gave me.
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Two thousand dollars a day.
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We would earn 10 percent a day,
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which is 200 dollars a day.
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This time he cleaned it up and said
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that he would only be trading five
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days a week since those five trading
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days in a week.
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So a thousand dollars a week.
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OK. Now this is where he loses me.
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He then applied that thousand
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dollars, which I thought was
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a week.
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And I assume he took that he
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made a mistake and is
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pretending that it's that somehow
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going to be a thousand dollars a
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day. So it multiply it by 30,
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giving us a profit of
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thirty thousand dollars a month.
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Plus we get our two thousand dollars
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back. So we invest two thousand.
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We get thirty thousand a month.
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So needless to say, this is all
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garbage. Sure, some people
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do day trade and some people
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actually make a good living doing
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it, but it's not easy to do
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and there's no simple way of
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doing it.
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Certainly nowhere near what this guy
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is talking about.
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And generally today, trade, you need
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a lot of money to make a
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very little money consistent.
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OK. So I go ahead and I tell
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this guy that I'm interested and
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I give him my phone number and
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he starts to call me and he
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calls and calls
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and calls. And most of the time
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I don't answer, although sometimes I
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do pick up.
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And he explains to me that all
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I needed to do to start
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with a two thousand dollar
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investment was to
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send him two thousand dollars
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in Bitcoin.
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So I ask him, couldn't I open
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a fidelity or some other online
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trading plot, some online trading
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account, and given that log in
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information?
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No, it needs to be sent directly to
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him in Bitcoin.
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There's nothing that says it's not a
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scam, like send me no untraceable
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currency.
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So I tell him that I'm afraid that
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this isn't legitimate, afraid we
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could lose money.
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And I ask him, is there some
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way to prove what you're doing?
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He says, I'll send you some of my
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Bitcoin traits.
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So this is what he sent me this
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screenshot. This is from him.
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He tells me that these bitcoin
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trades are com are trades
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that he'd made the day before we
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spoke.
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And we first may notice that, first
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of all, these are not Bitcoin
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trades. Second, these
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trades are made back in February.
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And third, these are all
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buy orders.
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How do we know these were even
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profitable without the other side
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of the trade? Go buy it and sell it
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or sell it and buy it.
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You can't just give me buyers and
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tell me you made money on every one
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of them. So I call them out on this.
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And he said, Oh, my mistake.
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I sent you the wrong trades and
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I'll send you the ones.
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He then sends the new ones.
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Once again, these are not Bitcoin
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trades. These are currency trades.
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Now, I have a guess as to why
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he keeps showing me currency trades.
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And that's because there are many
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different currency trading platforms
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that allow us to practice trading
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in a simulation account.
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So if you ever wanted to practice
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day trading to see if you could
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actually make money, at least day
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trading currencies, there's a lot of
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platforms that do it.
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That's what I'm guessing this is.
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Well, this went on for a few days
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and finally I called him out on
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the whole thing being a scam.
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I said everything was I said it all
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seemed fake.
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And he started yelling
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at me. He said, who?
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I was missing a great investment
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opportunity to make thirty thousand
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dollars a month for just two
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grand to.
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Day, and then he hung up on.
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So if you see anything
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like this, please ignored
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or reported to YouTube or whatever.
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But either way, don't contact
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them unless you want to get harassed
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and you're interested in having a
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good laugh.
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But don't do it now.
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If we're looking for more legit way
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to invest, I actually did a video or
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a walk through eight steps
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to analyze the stock.
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It will not make you thirty thousand
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dollars in a month from a
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two thousand dollars investment
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because that is not the way you're
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investing, really works.
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So if you're curious.
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Perhaps that could be a good next
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video for you to watch.
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I've got a link right here. I've got
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a link in the description below.
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And I can say that if you follow
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that process, it is a good, steady
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way to better understand a company
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and try to determine if it's a good
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investment. If you're curious, link
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here, link below.
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Thank you so much for stick with me
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all the way to the end of the video.
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I really appreciate it.
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Stay away from the scams.
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I look forward to seeing you in the
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next video. Thanks.
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