Dinadaya lang daw ang masa! Xian Gaza took courage on releasing a video about "Bitcoin Scam Expose"

Dinadaya lang daw ang masa! Xian Gaza took courage on releasing a video about "Bitcoin Scam Expose"

- Xian Gaza shared a video where he exposed the alleged mega scam behind bitcoin

- Xian is also known as the "coffee guy" who asked Erich Gonzales for a date

- He used the social media to reveal this because he is afraid that this issue will just be concealed

KAMI learned that Xian Gaza made a video entitled "BITCOIN SCAM EXPOSÉ by "National Scammer" Xian S. Gaza". He shared the video on his Facebook account on December 18. Inquirer.net previously reported about this.

According to Xian, his video “expose” was meant to reveal the structure and modus operandi of a scam. He said this after explaining that he has already left the country for fear of a P5-million bounty on his head by a certain syndicate, dead or alive.

The alleged scammer explained the complete details and information on how the syndicate was allegedly performing their scheme using bitcoin as a front to earn large amount of cash from their victims.

As for the scheme which was the subject of this video, Xian described it as something similar to a pyramid scam, a ponzi. First, an entity possibly posing as a Bitcoin investment fund company offers victims opportunities to invest in cryptocurrency.

The entity provides a projection of income within a certain period of time to further entice targets of potential earnings. Sounds familiar?

The funds taken from investors are then pooled into a pot. When it gets big enough, Xian stated the syndicate would then offload the money in two ways.

One is to wire the money to export trading companies for money laundering. The syndicate gets a 10 percent cut. The other method involves purchasing gold from the black market which would become traditional assets.

Gaza claims the pot has grown to 700 million at the time his video was uploaded.

Some netizens pointed out in their comments that Bitcoin in itself is not a scam, and did not hold back from writing some colorful words of criticism on Gaza.

A certain “admin Z” retorted by saying that people should watch the whole video first, instead of just the first minute of it, before commenting.

Looking at the video, Gaza did not claim Bitcoin itself as a scam; rather, he tried to explain that undesirable entities have been using the Bitcoin trend as a front for schemes. Due to the volatility of cryptocurrency, Gaza claims the syndicate could use it as an exit plan.

“It’s a scam. It’s a mega scam and Bitcoin is being taken advantage.” Xian said.

Just recently, ABS-CBN News reported that Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo has advised the public to be aware of the risks of investing in bitcoin after the cryptocurrency soared to record highs last year.

"This is something we should think about very closely," he said.

Here is the full video of Xian Gaza:

KAMI wants to remind everyone that we should not be blinded by scams. Study it first, before investing.

Social experiment: Conscience vs Money -from KAMI Youtube -would you take money that is not yours?

Source: KAMI.com.gh

Online view pixel