The Dumbest Scam in Youtuber History

buy real estate no financial advice invest in laserdisc commit crimes a great opening thanks dude yeah good uh that keep it tight where best creator on the platform cryptocurrency what question question mark what is why is it important is it important at all who makes them how are they made how uh how all questions that i will make no attempt to directly answer as she'll be obvious by now and if not welcome to the channel new viewer um when it comes to describing topics it's kind of like jazz here because i emit specific things that are usually there but instead of being endearing and an important part of the whole endeavor it's actually a massive flaw in my workflow i'm also like jazz because i'm best known for being 4-4 it was a terrible joke but let's speak about something that isn't terrible today's sponsor boxu who i hope is not deeply ashamed of being connected to me after that joke uh 4-4 is like a common timing for jazz and it could also refer to height it's fine i'll just let the joke die it's fine it's fine no one laugh no one laugh it's a bad joke boxu is a premium japanese snack box service designed to deliver high quality snacks from around japan right to your doorstep every month unlike their competitors the snacks included in each month's box is specifically made to suit the boxes theme your first box will include a variety of snacks with every month after that being based around a different idea and if you enjoyed any of the snacks in the box then you can use their storefront on their website to purchase more of it each box also contains a booklet that details where the snacks were made the name ingredients and what flavors you should expect from them which is especially useful if you don't want to wildly guess what japanese symbols mean oh really that's what it's called yeah i think i'll trust the book with this one so to take advantage of this limited time offer and support the channel use the link in the comment section or the video description below and use code kappa 10 to get 10 off your boxy subscription potentially saving up to 47 with the option to pause or cancel your subscription at any time as you may have heard or assumed based off the title thumbnail and general content so far of this video uh there's been a fair bit of shenanigans recently in the world of cryptocurrency also known as monday but it does have some overlap with content creators making it somehow less unique specifically these creators who i won't really say for certain like did or did not understand the extent of what will soon be discussed in this video because other people have already done that and i'm just here to say funny swear words if you desire damning declarations i will defer you to that was nice alliteration nice work me uh to mudaha for the breaking the story and understanding cryptocurrency uh coffeezilla for the investigative work and uh fps diesel because he's my friend and i want him to do well for those who don't know anything about cryptocurrencies uh can i uh live inside your brain for a second oh wow it's nice and cozy in here anyway as simplistically as i could possibly describe uh cryptocurrencies uh it's like a bunch of code that determines how the coin itself functions when it's being traded uh much like stocks the coins actually lack value by themselves but are instead traded based of what people think they're worth for instance bitcoin obviously has a high valuation because it is a mainstream coin meaning that it's most likely to be accepted and adopted first uh before other coins if businesses decide to use it now if you know anything about the stock market then you just heard lack inherent value and high valuation you may be a slight bit worried don't fear um nothing bad has ever come of this for the most part the biggest cryptocurrencies that you'll see on selective services that i am now putting uh in my hands thank you post me uh like you'll see on things like the independent reserve if you're in australia they're generally trustworthy uh extremely inconsistent in price because it's the crypto sector which is currently going through a rough stage in their growth and also growing way too fast so great combination much like early access or banking this eventually leads to scams most commonly pump and dump where a small group of insiders either develop or latch onto a coin buy a lot of it at a very low price reeling gullible investors who drive the price up they sell the peak price drop coin dies rinse and repeat uh the most famous example of this being bit connect uh for free for whatever possible reason who knows why it's popular hey everyone um just wanted to take a few seconds out of this video to uh to apologize a few seconds ago i i made a joke about all banking being a scam uh that was improv uh i meant to explicitly and seriously say all banking is a scam oh what are the banks gonna do come and beat me up probably the banking system in australia is really cool my days are now numbered so i would like to finish this video which brings us to the current debt the present or several weeks ago um i'm talking about like the topic now so you can pay attention the coin in question that started my intrigue slightly more than passing apathy uh into creators endorsing crypto was the save the kids coin or what save the kit it's kids coin save the kids what you really need to remember don't bother searching for it either you won't find it the website has been swiftly removed which kind of definitely ruins the dramatic tension in this video of whether or not this was actually a scam so oh no it's also worth mentioning um that i am talking about save the kids not save the children which is an actual charity it's been around for quite a while very reputable and how can anyone possibly mistaken the two they only share a similar web design topics declared purpose color scheme you know a similar logo but apart from that it's all coincidence i'm sure it's a coincidence for like legal reasons there's probably like no reason to be worried legally but i can't risk litigation and haven't reached the public that i have 1700 duis you may be asking yourself wide awake at night as you as you watch part of this video and then went to sleep and then woke up and watched the rest of it how does a cryptocurrency make money for charity and the answer is uh it it doesn't it was never going to it was a scam so that's not even relevant and also i don't really understand it at all but i i will say looking at a wallet's history at first glance does look very suspicious as they have a balance of 1.8 million kids now funny joke but i do say this is someone who has a fire called cryptoscam.txt on my computer so let's get this video done quick before the feds show up and find out i make youtube videos embarrassing there's quite a few people involved in this or were involved in this like uh summer rae who is well known for being born uh in september of 1996 and being 1.7 meters tall and i'm not reading this off a wiki page i wouldn't do that it's also ricegum who's never been in a situation where he's endorsed what is essentially a decently flashy scheme to his followers literally that never happened but on the other hand he did in some way create the career of yours truly which could be a silver lining on this cloud or a further indictment of his existence i'm going with the second one i'm a mistake stop watching me ah lastly there's four guys from faze or should i say the three guys from face because one of them suddenly disappeared from the organization faster than money disappears from my wallet into financially stable investments or knitted sweaters seriously it's like i'm allergic to denim or something what am i doing it should be noted that while all of them were involved in promoting the coin in some way not financial advice their actual involvement in it varies wildly with some array pretty much being removed before the situation even happened uh good work summer rae's pr team it's amazing how they saw this coming i think they either have the power of precognition or two human eyes there was ricegum who i don't [ __ ] care about but he promoted it um tico dumped no coins and instead actually bought more than he was given essentially doubling down on his loss uh nikon or nike whatever the [ __ ] he sold off some of his coins jarvis and k who dumped uh two thirds in specific wallets more on that later allegedly but more on that later according to kay he also had an entire wallet where he dumped no coins wow what if yeah cool um trying to prove that he wasn't going to make a profit but it was also in that same breath he proved that he did in fact dump coins from a different wallet so he's like still participated like he probably made money just not a prophet and by god what a [ __ ] hero the problem with crypto wallets is that it's essentially impossible to prove that a wallet belongs to someone because the entire process is anonymous they specifically basically have to tell you or you have to do a bunch of detective work and track down specific transactions of the correct amount with like the wallet hashes and it's a giant string of text it just looks like insane ramblings so good job mudahar some ordinary gamer and coffeezilla go watch videos of them thanks to their groundbreaking research and investigative step skills i can say all of what i have previously said with a very strong sense of it's pretty close enough so how did all of this happen well if you just push aside the uh lying to people apart which is a pretty big problem originally there was a line in the code that determined that you couldn't sell uh more than a certain percentage of your wallet in the coin um but for a certain amount of time as an anti-dumping measure which which makes sense uh increasing the amount of time it takes to do something shady increases the chance you will get caught and that people can operate around that it's why people dump murder weapons off a bridge and they don't leave them on the nature strip for the hard rubbish collection now for some reason um the reason being scamming people that line was changed uh in the same way that uh detonating a nuclear warhead changes the landscape as in it was effectively deleted by the developers who weren't all that happy about it but they were just contractors which according to my understanding of the workplace means they don't actually have feelings the question of who gave the order was up in the air for quite a while but thanks to the investigative work of someone else again just gonna say swear words here we found out it was sam pepper who is uh definitely still alive and not a bunch of rats impersonating him in a human suit despite how i'm saying this i'm being completely genuine just just to drive it home sam pepper is definitely not a bunch of rats now if you're one of the several million people who know sam pepper for that one thing he did and then nothing else a quick recap um would be he did the thing no one like him he could in 2017 move to twitch got banned he's now on tick tock bailly uses it and now he's actively on twitter where he shields various crypto coins and he's nfts to his massive audience sarcasm he was also one big brother i think no one really liked him again can't directly prove it was him and that he profited off this and to what extent or lucky if anyone else helped him because they haven't been charged but everything i've said up until this point is like almost guaranteed to be true go watch the videos i physically do not have time to summarize these videos it's just not even possible the way these connections are made make me feel like a stupid dumb idiot this leads us to the current moment three phase members have been suspended including tico for some [ __ ] reason um and kay has been entirely removed which isn't surprising given the serious damage that he calls to the face brand not just with the situation but with his continuous involvement with stuff like uh milf coin sure that could be the the next big [ __ ] thing from but from an optics perspective not the greatest thing to tweet hashtag milf i've said this before um and but there's nothing wrong with taking your sponsorships i don't have a vested interest at this don't look at the first half of this video i personally don't think it devalues the content in any significant way all the personality of the creator as long as it's clear that it's an ad and where it starts and where it stops and that it doesn't influence the content of the video in an editorial sense see gamers nexus at this point paid promotions from creators are a pretty established part of the industry and on average are a hell of a lot more ethical than like a lot of other forms of advertising some of the [ __ ] they do is kind of really shady um and as long as there's like a clear difference between paid to read some words after you explicitly point out that you're being paid to read those words about a product and telling people to actually invest money in something that can and did reap profits by taking money from the people you're advertising to that and the anonymous nature of cryptocurrencies should make most people extremely wary of taking any form of money to promote anything just as everyone watching this should be equally wary of the slightest endorsement of any coin especially if they use hashtags i [ __ ] hate them which is a shame there's genuine potential in crypto but like as long as it's somewhat unregulated to the point where people can just do this [ __ ] it's never going to be widely accepted it's just not possible oh who knows maybe i'm just being extremely paranoid and adding the phrase not financial advice at the end of the statement that very clearly advises the reader on what to do with their financial assets completely absolves you oh any wrong doing it does it better but at the same time i'm not unfathomably and monumentally stupid so i'm going to go out on a limb here and say that this sentence was included in so many people's tweets because someone told them to do it and they didn't actually check if that was like relevant also on a on another note uh jordan galen talent senior talent manager he was kicked i have nowhere else to put this guy i don't know he was he was kicked from phase there you go sorry all you all you galen is i'm sorry i'm sorry you jordan galen fans but he's been kicked in my face kate did upload a second response with the first one being so pointless i've ignored it where he came to the conclusion that almost the entire thing was sam pepper's fault and while i believe that sam was intentionally trying to scam people for enormous self gain see sam pepper it's also worth noting that it was k who determined this after investigating himself even with this explanation there's some pretty big plot holes he states the reason sam pepper was involved to such an extent was he already ran the management for a lot of k's content or something and was heavily involved in kryptos he had worked with faze um and kay by his own admission knew very little about the whole thing um and was as surprised as all the other people scammed when sam betrayed them a tragic tale fit for greek theater slightly undercut by the strange and ill-advised choice to trust sam pepper with anything more valuable than a scientology pamphlet because he's been accused of some pretty horrendous [ __ ] and generally has a reputation that's attempting to dig to the planet's core i mean one google search map also i get the charity coin is an interesting project but if k really like isn't that well versed in the nuts and bolts of cryptocurrency the decision to promote something you don't understand in a field that is constantly criticized for being rampant with scams uh makes you either a liar or an idiot uh with no one surrounding you that has common sense and it's difficult to determine which is worse if we take everything he says at face value it still doesn't explain the decision to like help develop and promote some like random [ __ ] coin if you really care about a project that helps children just do a normal charity drive there's essentially none of the risk while still reaping significant benefits to your cause i understand this project had potential to earn a larger amount of money for charity over a longer period of time if it was executed perfectly but if you don't even understand blockchains why the hell are you getting involved it takes like all of a single google search to find out crypto coins are like extremely easy to scam people with like literally just look look look google crypto scam and you come with like a [ __ ] [ __ ] out of lists so yes well sam pepper was definitely the cause of the whole thing crumbling apart um if he demanded the anti-whaling cord to be removed uh a significant amount of the blame can still be placed on cave's feet because he's still [ __ ] like promoted it and like helped develop a bunch of things despite what should be to most people some pretty glaring red flags not financial advice again but that's my time for the day uh i am late for a variety of things i imagine i'm standing in a very hot very dark room and i don't know what day it is so um i actually don't know what month it is kind of forgot anyway subscribe oh yeah buy some merch buy some merch and thanks for boxing to sponsoring the video thank you very much for watching thank you to the fellas for supporting me every month giving me some some security in my life uh god knows i need it i'm i'm in shambles uh thank you very much for watching stay safe and lock down if you're in australia all right goodbye [Music] you

Channel: Kappa Kaiju

Views: 300,423

Keywords: Kappa, Kaiju, commentary

Id: LaKAJxDyCU4

Length: 18min 18sec (1098 seconds)

Published: Fri Aug 27 2021