As someone who has been following both Cryptocurrency and cryptocurrency scams Uh since 2017 it's pretty crazy to me That even in 2023 uh people are still Following for the same scams uh they're Still investing in meme coins which have No value and then they get upset when They lose all their money because the Meme coin goes to zero it's crazy to me That this is still happening now I know Some people watching will be like oh you Know all cryptocurrency is a scam it's All fake and you can believe that if you Want I really don't have any problem if People want to invest in something like Bitcoin or ethereum I do have a problem uh when people Promote something that are obviously Blatant scams I was one of the first People uh to talk about bitconnect that Was a scam back in 2018 and I you know Talked about how that was a scam even Before it actually went down it has Finally happened a little over a week Since bitconnect shut down their Ponzi Scheme the very first lawsuit has been Filed and to this day there are still Cryptocurrency scams uh that pop up Right now one thing I want to focus on In this video particularly are two Different meme coins that have popped up They've been created just in the past Month or so and they've started to go Crazy and I'll be honest with you there
Are people who have gotten insanely rich Off of these meme coins they're you know They've bought in their Lambos Um whatever and they've made millions of Dollars now one thing I want to say About that is usually the people who get Rich off of these scams or these meme Coins uh the coins that have no value These are the people who knew about Either they have Insider knowledge they Were part of the program to start up the Meme coin or you know they have Connections and they knew this about This meme coin before it went mainstream Before the average person heard about it And these people invested I don't want To use the term invested these people Gambled uh into these meme coins and you Know it paid off for them they made a Ton of money because these coins then go Mainstream more people get in uh the Common man gets in these people sell all Their coins they get millions of dollars And then these people who got in uh get Up end up holding the bag they end up Losing money and that's exactly what is Happening With these meme coins now it's crazy Um that this is happening so there's two Meme coins uh that are going basically Viral at this point the first is Pepe Coin uh which is based off the uh Animated frog uh that has existed for Several years and there's also the Wall
Street bet coins which is based on the Subreddit Wall Street bets if you're Aware of that it's all about gambling And option trading and stuff like that Uh they launched their official meme Coin and initially it did quite well and Then it found out people found out that The creators of it were basically Scamming and dumping their coin on the Market and causing it to tank as I said Before as these uh meme coins become More uh popular and again these these Coins have no value it's purely just a Gamble and hope that more people will Buy in after you which causes your money To go up Um as these coins become more popular Everyone in the YouTube crypto world and Even in the finance world has started to Talk about this so bit boy crypto I've Talked about him he started to talk About Pepe coin quite a bit and even Meet Kevin I've talked about meet Kevin Many times on this channel before you Know I'm not a fan of him but even meet Kevin has decided you know what it's Time to start pimping out uh Pepe coin To my audience hey in this video we're Going to be talking about Pepe that's P-e-p-e dot VIP is the official website For it I do not want this to be confused With another coin that popped up called Pepe coin it's like Rank 2 600 or Whatever we're talking about like the
Ranked 40 coin here but when I say Pepe Coin just know I'm just trying to say Not the meme I'm talking about Pepe like The popular coin ticker p-e-p-e you want To just be very clear about that will Pepe coin hit one a dollar well I have Bitcoin like I said has no value and There really is no reason no legitimate Reason why people like meet Kevin uh Should be talking about Pepe coin to his Audience that's mostly based around Finance and the stock market uh but he Is now one thing I want to point out This is the Pepe coin on coin market cap Which follows the value of all of these Cryptocurrencies you can see that there Was a huge run up right so people who Got invested anywhere in here and these Are people who were in The know right Maybe connected to the project or the You know they follow all of this daily These people made a ton of money right Now meet Kevin has only been talking About it for the past few days so if you Listen to meet Kevin or you know bit Boys advice for over the past couple Days and bought in at the top here You've already lost a bunch of money Right And there's a very real chance it could Never go up again it might go up again I Really don't know but there ultimately Is no value in Pepe coin existing like I Said before it exists purely as a
Gambling uh aspect of it now some people Uh Ben Armstrong who was bit boy crypto If you actually go to his Twitter he Actually admits Um you know on his actual Twitter says Don't forget guys all meme coins will Eventually go to zero except maybe Doge It's a game of hot potato take those Profits so this guy is you know Blatantly admitting that God there's There's no reason to be investing in This coin Um you're you're gambling and you're Hoping you're hoping that there are Suckers who come after you Who invest money in this coin and then You can just sell your money you sell Your Pepe coin for more money there's no Reason to hold it with something like a Stock uh if you buy into a stock you're Hoping that that company or you believe That that company will go up in value And then the stock price will go up in Value there's reason there should be Reason uh why the stock goes in value it Goes up in value with Pepe coin it's Purely just for you hope there are more Idiots uh who get involved in this so That your earlier purchase will go up Now if you actually go to the Pepe Website this is here this this is the Pepe website right here and they don't Make any claims that their you know coin Is going to do anything they are at
Least somewhat honest and tell you this Is purely just for memes Pepe the most Memeable meme coin in existence the dogs Have had their day it's time for Pepe to Take rain so they're referencing uh Shiba Inu Dogecoin which have been Heavily really popular for a long time Those are meme coins they they don't aim To do anything to make cryptocurrency Better or anything like that they exist Purely as a meme and really Dogecoin They're really the only reason it's so Popular is because Elon Musk uh has Constantly referenced it as well now if You actually look through it um it just Talks about how this is a blatant meme There's no reason for it to exist and at The very bottom it says Pepe is a meme Coin with no intrinsic value or Expectation of financial return there is No formal team or road map the coin is Completely useless And for entertainment purposes only it Doesn't make any reason why people would Again I don't want to use the term Investing it doesn't make any reason why People would want to gamble in this Other than pure greed right and anyone From bitboy crypto to meet Kevin who Were talking about this are you know Just feeding into this this greed Machine knowing that there is no value Or reason to be involved in something Like this now Pepe coin I don't know
What's going to happen with it uh in the Short term in the long term it'll Probably go to zero but you know there's Another coin that is already basically Gone to zero and that's the Wall Street Bets coin right so the Wall Street bets Coin if you don't know there's the Subreddit Wall Street bets and they talk About option trading in the stock market And they're very degenerate I've talked About them in the past launched their Official meme coin Um and it began to dump this is the Wall Street bets coin it had good value at Some point uh people were investing in The meme and then it started to crash Because it came out the the actual devs The people who were running it uh said That they were going to hold a large Portion of the coin never sell them to Increase the value of the other coins And then they started selling them uh so Basically it's it's like a rug pull People realized this was you know a scam And the coin Um basically you know it went down Massively so I don't understand why People continue to fall for these meme Coins Other than just people thinking that This is some sort of like lottery ticket Chance right and if you want to if you Want to look at it like that that this Is a lottery ticket I guess that's fine
Um because like at least the coin isn't Trying to say that they're you know They're doing anything like Pepe coin is Being very honest it's just a meme it Has no reason for its existence so if You just want to like look at it look at It as a lottery ticket I guess that's Fine but it's really crazy that you know So many people Are trying to pump this right everyone Who's I guarantee you everyone who's Trying to pump Pepe or Wall Street Betscoin Um is already involved in it and they're Just trying to increase their own wealth They're not doing it for your own Benefit they don't want you to you know Believe in this coin they just want you To get involved so their money goes up In value and it's pretty crazy How far this is actually going how far This actually gone so this is a channel Right here uh this guy has 200 000 views He says I quit my 100K senior accounted Job to make YouTube videos full-time and All he does is talk about meme coins so This is a video and I'll play you a Brief clip and this is where he talks About people investing uh in Pepe coin And all the people that are making money I'm so happy for you guys Um I really want to see every single Person Um that invests into this make money we
Know it's not going to be Um that's not going to be the case I've Already ran into some people that were Like hey I invested at where the peak Point was and now you know I'm down on My investment and it's understandable But all right so to me that's pretty Crazy that this guy who claims to you Know have one at one point be making a Hundred thousand as a senior accountant He left his job To talk about meme coins on YouTube and He talks about investing right any Person that refers to investing in a Meme coin is a nobody is investing In this right this is Ben Armstrong he Says right here right he he's he's open And says that hey all these meme coins Are going to go to zero you are not Investing in any of these coins you were Gambling right this guy needs to be Honest as to what is going on guys I Think you should gamble into this coin And hopefully more idiots will get Involved and your value will go up and Then you can sell it before it all goes To zero because that's what's really Happening and it I I I gotta be honest I'm at a loss as to As to why people are investing in this Uh this meme no existing I I really Think it is just people Um the economy isn't isn't very good We're in a recession and people are just
Like hey you know I'm gonna gamble on This I don't care that the people get Involved after are gonna get screwed I Just hope that I make a million dollars And I'm able to buy a Lambo uh but I'd Love to hear your opinions below why do You think people continue to invest in These terrible meme coins