Money For Nothing…

I met a guy at a Meetup event last week. Fascinating fellow.

He was from Poland and was basically traveling the world, living the dream of making his money via his laptop. I think he’s been away from home for at least six months, living in hotels, tapping away on his PC and meeting new people wherever he went. We swapped cards and sure enough, I got an invite to meet him for a coffee a few days later.

In the coffee shop, we chewed the fat for a few minutes before he opened up his briefcase, and jumped straight into his pitch. He’s a “cryptocurrency evangelist”, for want of a better phrase. The flavor, in this case, is called DasCoin.

Maybe I’ve been hiding under a rock in recent months but this apparently new¬†and improved cryptocurrency is all over the internet. And the reason I know that is because I felt it was my duty to do my due diligence on the “great business opportunity” I was being offered. Without going into all the ins and outs (and he spent a whole hour giving me the lowdown), essentially, our conversation was simply focused on a form of digital network marketing.

Having already been burned in the past trying to buy into a previous glorious money-spinning pyramid, I declined the opportunity. Or at least, that’s the plan when I speak to him again. The point is there are plenty of income generating ideas out there – some good, some not so genuine. The fact that this one isn’t right for me doesn’t mean it’s not right for you.

But you have to do your own work. Don’t trust what I’m saying. Putting in the word “scam” into Google (as in “DasCoin¬†scam”) is always a good start. But you’ve fundamentally got to find ways to get comfortable with whatever you are thinking about putting your money into, whether or not other people think it’s a scam.

Let’s face it, there’s always going to be people making money out of these opportunities. My Polish friend was making huge figures. And good luck to him. I just know that I have to understand and trust what I’m putting my money into and that wasn’t the case this time.

I think too many people are getting blinded by the dollar signs that come with some of these esoteric money-making opportunities, without properly understanding the risks. Money for nothing indeed.

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