SCOTTY THE AI COIN CRYPTO SCAM UPDATE NEWS LEGIT

NET CRYPTO
12 Mar 202410:34

TLDRIn the video, the speaker raises concerns about the transparency and activity of admins and developers in the Scotty the AI project, suspecting it to be a potential scam. The speaker notes the lack of communication from the team and draws parallels with previous scams, highlighting the similarity in disclaimers across different projects. The video warns viewers about the risks of pre-sales and advises waiting for a project to list on exchanges before investing.

Takeaways

  • ๐Ÿšจ Concerns about the transparency and activity of admins and devs in the Scotty the AI project are raised.
  • ๐Ÿค” The lack of recent communication from the project's admins and developers is alarming for the community.
  • ๐Ÿ’ฌ A pinned message from Json Banks, an admin, indicates the team is waiting for legal permission to reveal their identities and a launch date.
  • ๐Ÿ“ˆ The script mentions past scams and suggests that the same team may be behind Scotty the AI, BTC20, Green Bitcoin, and Bitcoin ETF.
  • ๐Ÿ” Similar disclaimers across different projects' websites suggest a possible pattern or connection between them.
  • ๐Ÿ”Ž The speaker plans to scrutinize the white paper of Scotty the AI in an upcoming video.
  • ๐Ÿ’ก Rumors about a possible listing on BitMart, a tier-one exchange, are discussed.
  • ๐Ÿ’ธ A warning against buying into pre-sales is given, as the smart contract does not yet exist, and investors cannot be sure their tokens will be delivered.
  • ๐Ÿ“‰ The importance of waiting for a project to list on a DEX or exchange before investing is emphasized to mitigate risk.
  • ๐Ÿค– The upcoming video will analyze the promises made by the Scotty the AI project in detail.

Q & A

  • What is the main concern raised about Scotty the AI and its community engagement?

    -The main concern is the lack of visible activity and communication from the admins and developers of Scotty the AI. The community feels that there is something strange happening behind the scenes, as the team members are not actively chatting with the community, which is unusual for a project in the crypto space.

  • What does the pinned message from Json Banks in the Telegram group indicate?

    -The pinned message from Json Banks indicates that the team is allowing the remainder of the tokens allocated for pre-sale to continue selling while they wait for permission to announce their identities, a guaranteed launch date, and time. It raises concerns because it suggests limited information availability and a lack of transparency.

  • What is the significance of the disclaimers found at the bottom of Scotty the AI, green Bitcoin, and Bitcoin ETF websites?

    -The disclaimers serve as a warning about the risks associated with cryptocurrency investments, including high volatility, tax implications, and regulatory variances. The similarity in the disclaimers across these websites suggests a pattern and raises suspicions about the same team being involved in multiple projects.

  • Why is the comparison of disclaimers across different projects important?

    -Comparing disclaimers can reveal patterns that suggest a common origin or team behind multiple projects. It helps in identifying potential red flags, such as copy-pasting of legal text and lack of uniqueness in each project's approach to risk communication.

  • What is the advice given regarding participation in pre-sales of tokens?

    -The advice is to avoid buying into pre-sales because the smart contract for the token does not yet exist, and investors are essentially buying into a pre-contract. It is recommended to wait until the token is listed on an exchange or decentralized platform where the actual contract is in place and the tokens can be securely held in a wallet.

  • What is the potential risk of buying into a pre-sale?

    -The risk of buying into a pre-sale is that the smart contract has not been deployed yet, so investors are not actually putting their money into the contract that will govern the token. This leaves room for scams or projects that fail to materialize, and investors may lose their funds without any recourse.

  • What is the significance of the mention of a possible listing on BitMart or OKX?

    -A listing on BitMart or OKX is significant because these are exchanges where cryptocurrencies can be traded publicly. If Scotty the AI tokens were to list on such an exchange, it could provide liquidity and an opportunity for investors to buy or sell the tokens. However, the speaker advises caution and suggests waiting until after the pre-sale to invest.

  • What is the speaker's plan for the subsequent video?

    -The speaker plans to scrutinize the white paper of Scotty the AI in more detail, assess the promises made by the team, and investigate any rumors about a possible listing on exchanges like BitMart.

  • What is the speaker's overall stance on Scotty the AI and its operations?

    -The speaker expresses skepticism and concern about Scotty the AI, suggesting that the lack of transparency and community engagement, along with similarities across multiple projects, indicates potential scamming behavior by the same team behind the project.

  • What is the importance of the community's reaction to the speaker's coverage of scams?

    -The community's reaction is important as it indicates the level of awareness and concern among investors. The speaker's coverage aims to educate and protect the community from potential scams, and the feedback from the community helps in understanding the impact of such coverage and the need for continued vigilance in the crypto space.

Outlines

00:00

๐Ÿค” Concerns Over Scotty the AI's Transparency and Admin Activity

The speaker expresses concerns about the lack of communication from the admins and developers of Scotty the AI, a cryptocurrency project. They note that typically, in scams, there is at least some interaction with the community, but in this case, there is a strange silence. The speaker has covered many scams before and feels that Scotty the AI might be another one orchestrated by the same team. The Telegram group shows several admins but no recent activity from them, which is alarming. A pinned message from Json Banks, one of the admins, reveals that the team is waiting for permission to announce their identities and a launch date, but the speaker questions why the information is limited and why the admins are not engaging with the community.

05:02

๐Ÿง Similarities in Disclaimers Across Suspicious Crypto Projects

The speaker draws attention to the striking similarities in the disclaimers found at the bottom of websites for different cryptocurrency projects, including Scotty the AI, green Bitcoin, and BTC 20. They suggest that these projects might be connected, as the same pattern of disclaimers is unlikely to be a coincidence. The speaker also notes that the projects seem to shift focus from one trend to another, such as from Bitcoin ETF to AI, indicating a potential pattern of moving from one scheme to another. They advise viewers to be cautious, especially with pre-sales, as the smart contracts do not yet exist, and the risk is high.

10:04

๐Ÿ” Upcoming Scrutiny of Scotty the AI's White Paper and Listing Rumors

The speaker announces plans to delve deeper into the white paper of Scotty the AI in the next video, aiming to scrutinize the project's promises and legitimacy. They also mention rumors about a possible listing on BitMart, a cryptocurrency exchange, and advise viewers to wait until after the pre-sale to invest. The speaker emphasizes the importance of buying tokens after they are listed on an exchange or a decentralized exchange (DEX) like Uniswap, as this ensures that the smart contracts are in place and the investor holds the tokens in their wallet. They conclude by encouraging viewers to stay tuned for the next video and share their thoughts on the matter.

Mindmap

Keywords

๐Ÿ’กNet Crypto

Net Crypto appears to be the name of the platform or show where the speaker is providing information and news about various coins and tokens in the cryptocurrency space. It is the context within which the discussion about Scotty the AI and potential scams is taking place.

๐Ÿ’กScotty the AI

Scotty the AI refers to a specific cryptocurrency token or project that is under scrutiny in the video. The speaker expresses concerns about the lack of transparency and communication from the project's admins and developers, suggesting potential scam activities.

๐Ÿ’กScams

In the context of the video, scams refer to fraudulent schemes or deceptive practices often associated with cryptocurrency projects. The speaker has covered many scams and is using this experience to analyze the legitimacy of Scotty the AI.

๐Ÿ’กTelegram Group

The Telegram Group is a messaging platform where cryptocurrency projects often have official channels for community interaction. In the video, the lack of recent activity from the admins and developers within the Scotty the AI Telegram Group raises suspicion about the project's legitimacy.

๐Ÿ’กPre-Sale

A pre-sale in the cryptocurrency context refers to the initial offering of tokens before the official launch of the project. Investors can buy tokens at a discounted price, but the speaker warns about the risks of buying into a pre-sale due to the lack of a solid contract.

๐Ÿ’กWhite Paper

A white paper is a detailed document that outlines the technical aspects, goals, and other important details of a cryptocurrency project. The speaker plans to scrutinize the white paper of Scotty the AI to assess its credibility and the promises made by the project.

๐Ÿ’กExchange Listing

An exchange listing refers to the process of a cryptocurrency being added to a digital asset exchange, allowing it to be traded publicly. The speaker discusses rumors of Scotty the AI possibly being listed on BitMart or OKX, which could impact its value and legitimacy.

๐Ÿ’กCommunity

In the context of the video, the community refers to the group of investors and enthusiasts who are following and participating in the discussions around a cryptocurrency project. The speaker emphasizes the importance of the project team communicating with the community, which is currently lacking in the case of Scotty the AI.

๐Ÿ’กVolatility

Volatility in the context of cryptocurrency refers to the rapid and significant price fluctuations that are common in the market. The speaker mentions the high risk of volatility as a disclaimer on various project websites, highlighting it as a key risk factor for investors.

๐Ÿ’กRegulations

Regulations pertain to the legal rules and guidelines that govern the operation of cryptocurrency markets. The speaker notes that understanding local regulations is crucial for investors as they can vary by jurisdiction and impact the legality and tax implications of cryptocurrency investments.

Highlights

Concerns about the transparency and communication of Scotty the AI's admins and devs.

Lack of recent activity from the admins and developers in the Telegram group raises suspicions.

A pinned message from Json Banks, a key figure, indicates a delay in the team's ability to communicate openly due to legal restrictions.

The speaker has previously covered multiple scams and suspects the same team is behind Scotty the AI and other projects.

Similarities in disclaimers across different projects suggest a common origin or team.

The speaker warns against buying into pre-sales due to the lack of smart contract protection.

Investors should wait for a project to list on a reputable exchange before investing to mitigate risk.

The community is encouraged to scrutinize the white paper and team behind Scotty the AI.

Rumors of a possible listing on BitMart, a lower-tier exchange, are discussed.

The speaker plans to delve deeper into the project's white paper in the next session.

The importance of conducting thorough research before investing in cryptocurrency projects is emphasized.

The speaker's goal is to uncover scams and protect the community by highlighting potential red flags.

The speaker notes a pattern of the team moving from one project to another following trends like Bitcoin ETF and AI.

The disclaimer language on project websites is analyzed as a potential indicator of scam patterns.

The community is urged to be cautious and only invest what they can afford to lose.

The speaker's approach is to provide detailed updates and analysis to help the community make informed decisions.