Coffeezilla unveils a Bitcoin scammer

[LordFall]

I like watching these financial exposés, it's a fun way to learn about how finance works.

This guy is an interesting case because he targeted mostly UFC athletes that had liquid cash and were looking for a way to park it and not financially literate enough to sniff a scam.

In a way I think finance is the most honest industry in the world because it's so openly corrupt. You can watch the numbers go up and down on a screen and those are the real numbers. They are manipulated in almost every way though. 

This one is pretty lazy but somehow it works. A dude that flexes wealth on Instagram with a lot of followers and promises absolutely crazy returns of 100% over the last 4 years. For context for those unaware, 10% annual return is the standard benchmark for investing in an index fund like the S&P500 and 20% would be world class results in private equity standards.

100% over multiple years is similar to someone saying, "Give me $100,000 and I'll give you $500,000 two weeks from now. No scam, my friend, I'm a wealthy prince from Nigeria, but my funds are currently locked away by my family. Help me now and you will be well compensated when my treasury is opened again." It sounds ridiculous but that was a common scam in the early internet days and even before throughout the 20th century and according to AI it works consistently and has probably led to around $50 billion stolen over the last 100 years.  

I find it really cool how investing mirrors classic self-development in that shortcuts are usually not shortcuts, they are traps for the greedy and impatient. Tried and true principles usually work and there are ways to make more money than average but you have to really do your research and understand what you're getting into. 90% of the time people selling you something that sounds too good to be true is just that and you should think and meditate on it.

I find my propensity for getting scammed is lower than the average person since I'm more logical than emotional so these things never really make sense to me but I can see why someone that seems credible and has some kind of proof of mastery in an industry that you don't understand could work. That's why financial education is key and understanding how money works deep down pretty much inoculates you against fool's errands as you can usually dismantle someone trying to scam you by asking a few precise clarification questions that are hard to answer for someone who's making stuff up.

I feel like a lot of times what really happens is people ask themselves "Does this make sense? I don't know but what if it works I'll be rich!" and there goes their money. Scammers usually look for easy marks and there are plenty of those around. 

Edited 21 hours ago by LordFall

[Olaf]

@LordFall I never thought I would get scammed, but I got scammed one time for 10k euros. It was very sneaky through whatsapp when I was looking for a job, then it was like some thing you had to do you put in money and I made "profit" I was young and stupid and thought I was making money as he let me keep the profit until of course it all got worse. Atleast I am happy I never did that with 100k euros. Don't trust anyone with your money and don't buy any courses aswell, coaching okay, that could work, but courses around making money are complete trash and I wasted so much money on them. You got to be very careful who to trust or not, most people are looking for gain, not to help you. And if they really made that much money with dropshipping, digital marketing, social media agency etc. why do they have to sell a course?

At the end of the day if you want to make money it is gonna be hard and you have to figure out a path and be unique and creative or somehow get a network of rich people who can give you a faster path. You should probably use that second option as you are already more in contact with rich people then I am. Actually I probably could do that too, because I can make friends so easily, making friends with guys is the easiest thing in the world. I still have to think of a way how I could give value to rich guys tho, maybe if I get good with pick up or something. 

[Leo Gura]

Coffeezilla is like a leech on scammers 

[LordFall]

1 hour ago, Olaf said:

@LordFall I never thought I would get scammed, but I got scammed one time for 10k euros. It was very sneaky through whatsapp when I was looking for a job, then it was like some thing you had to do you put in money and I made "profit" I was young and stupid and thought I was making money as he let me keep the profit until of course it all got worse. Atleast I am happy I never did that with 100k euros. Don't trust anyone with your money and don't buy any courses aswell, coaching okay, that could work, but courses around making money are complete trash and I wasted so much money on them. You got to be very careful who to trust or not, most people are looking for gain, not to help you. And if they really made that much money with dropshipping, digital marketing, social media agency etc. why do they have to sell a course?

At the end of the day if you want to make money it is gonna be hard and you have to figure out a path and be unique and creative or somehow get a network of rich people who can give you a faster path. You should probably use that second option as you are already more in contact with rich people then I am. Actually I probably could do that too, because I can make friends so easily, making friends with guys is the easiest thing in the world. I still have to think of a way how I could give value to rich guys tho, maybe if I get good with pick up or something. 

Damn that sucks sorry to hear. 

On the courses front, you felt like you didn't get your money's worth from them?

I've only ever bought one full price for like $1500 and the rest through the wild west but I found so much value in a few different courses. The Tai Lopez SMMA course got me started in business and there was nothing like it at the time on Youtube. Now you can find a lot but it's still not really A-Z.

For the social circle stuff I paid for one that had Michael Sartain, RSD Luke and this personal brand guy Corey Chaloff at the time, that's the one I paid $1500 for and the skills that course taught me has made me easily $35,000 since. Social circle blueprint 1 and 2 were also phenomenal. 

I think it depends heavily on the course and your learning style. It's pretty terrible in terms of success rate and like 20% of people never watch 1 video in the course and around 50% never watch more than the first 3 videos. I think a lot of coaches take advantage of that to print easy money. 

32 minutes ago, Leo Gura said:

Coffeezilla is like a leech on scammers 

I used to find him and Spencer Cornelia distasteful for focusing on negativity instead of providing value themselves but the more I live and realize how sneaky some of these scammers are and how effective a lot of these scams are, the more I realize the benefit of investigative journalism. I didn't realize how corrupt the system really is and how a lot of scams are semi legal until they are exposed and enough public backlash mandates legislative actions agains them. 

It's also interesting to think of scamming and criminal activity as a whole being a quite effective survival strategy. The internet is making it harder and harder to pull off but these were "legitimate" career paths for a long time and I'm still shocked when we see dudes like the one in this video pulling it off in public for so long. Lying is such a strange phenomenon, it goes very deep into self-deception of both parties involved.

Thanks for your videos on that, it helps to make sense of it. 

Edited 19 hours ago by LordFall

[Leo Gura]

I am not belittling Coffeezilla's work. Investigative journalism is hard work.

[Olaf]

@LordFall For social stuff you can buy courses and they are helpful, I have bought a few courses around socialising, I was mainly talking about money courses, which most of them are complete trash. From all that money, you could probably rather buy many ebooks or books around money. 

[Lyubov]

Crazy the amount of time and work people put into scamming. I was trying to exchange cash on Telegram yesterday. Seems like there are people who have made it their full time hustle to scam people in the crypto sphere. 

[LordFall]

4 hours ago, Olaf said:

@LordFall For social stuff you can buy courses and they are helpful, I have bought a few courses around socialising, I was mainly talking about money courses, which most of them are complete trash. From all that money, you could probably rather buy many ebooks or books around money. 

Oh yeah fair, there are some $20 books that are goldmines. Have you heard of the Alex Hormozi book series? I got the first one earlier in the year so good. 

3 hours ago, Lyubov said:

Crazy the amount of time and work people put into scamming. I was trying to exchange cash on Telegram yesterday. Seems like there are people who have made it their full time hustle to scam people in the crypto sphere. 

The shocking part to me is the lack of awareness that it's a dead end. Especially in an era of AI, I think basically all criminals will be caught in the next 30 years. Perhaps it's more exciting for them than sitting down and reading a book on business. 

[Olaf]

@LordFall Yes I have heard of it, Alex Hormozi has a good brain on his head, he is very well at articulating allot of stuff around business. I might have to read his book series.