XRP Mining Platforms Overview - The industry notes that genuine XRP mining is impossible as all 100 billion XRP tokens were pre-mined [1] - The industry observes the emergence of platforms falsely advertising XRP cloud mining contracts with high returns [1] - These platforms are primarily marketing tactics, using XRP to fund Bitcoin cloud mining contracts with XRP payouts [2] Platform Functionality and Claims - Platforms allow users to deposit XRP to rent hash power for mining Bitcoin, promising daily payouts in XRP or Bitcoin [4] - XRP's low fees (around 02%) and fast settlement speeds (3-5 seconds) make it attractive for these platforms [5] - Platforms promise no technical setup, instant rewards, and signup bonuses (e g $12 from Le Mining, $15 from Rich Miner, $10 bonus for 5-day trial from PFM Crypto) [6] Risks and Red Flags - Advertised returns, such as PFM Crypto's 15% return in under a week (over 1,000% annualized ROI), are unsustainable [8] - Some platforms, like CJB Crypto, promise extremely high payouts (e g $50,000 per day), while others are clones of each other [9] - These platforms resemble pyramid schemes, attracting inexperienced crypto users or vulnerable individuals [10] - Counterparty risk is high due to the newness, lack of transparency, and unverifiable credentials of these platforms [13] - Unsustainable yields depend on new user deposits to fund payouts to older investors, characteristic of Ponzi schemes [14] - Contracts may include undisclosed management or withdrawal charges that erode net ROI [16] - Most platforms lack audits, real backing, and regulatory oversight, exposing users to custodial risk, platform failure, and fraud [16] Financial Impact of Crypto Mining Scams - Crypto mining scams cost investors approximately $500 million in 2024 alone [17] Recommendations - For safer yield options, explore lending via regulated exchanges or deploying wrapped XRP in DeFi [17] - If engaging with XRP mining contracts, start with small deposits to test withdrawals and contract maturity [18] - Look for verifiable feedback from other users and scrutinize fees [19] - Spread risk across multiple contracts, durations, and providers [19] - Consider XRP price appreciation or regulated crypto savings accounts (5-15% APY) as safer alternatives [20] - Only invest what one can afford to lose [20]

NEW: Big Brain Podcast 🧠➢ Is https://t.co/x45S17nTCx a good product? 🎯➢ Are we in another VC bubble? 🫧➢ Are treasury companies just Ponzi schemes with extra steps? 🧐@lawmaster, @NamikMuduroglu, @tomhschmidt& @AlokVasudev break it all down👇https://t.co/XFmhdMOu7o ...

Occasionally ppl ask me:“ico why even bother with crypto since it’s all Ponzi schemes?”My answer (despite rejecting the assertion that all of crypto is a Ponzi):“you’re required to take part in the 3 largest legally protected and enforced Ponzi schemes of all time - Social Security, Medical Insurance, and real estate, all of which you’re guaranteed to ‘lose’ at because of how the system is designed. Why not take part in the only one that exists where you might actually win?” ...

Market Retrospection - Three years prior, the industry witnessed the collapse of 3AC amidst the prevalence of Move-to-Earn (m2e) schemes on Solana [1] - Two years prior, the industry was experiencing a downturn following the FTX collapse [1] - One year prior, Germany's sale of its Bitcoin holdings resulted in missing out on billions in potential profits [1] Current Sentiment - The industry currently lacks a clear source of excitement, reflecting its present state [1]