What is the point of Squid Game TV Show And Does It Relate to the Squid Game Scam?
If you haven’t watched the Netflix series, Squid Game made in South Korea, here’s my short synopsis and then back to the scam.
Just like real life, the fictional world depicted in Squid Game takes you into the life of desperate ( so many of us in real life are) of Seong Gi–hun, broke, divorced and living with his mother. He desperately needs money, for everything.
Through some events ( I won’t go through the entire Squid Game show, way to much. Watch the show, you’ll be entertained, and disturbed) he finds himself on an island with hundreds of folks just as desperate as he is.
Long story short, what would you do? How far would you go to get all the money and more to pay all the things you need to pay for and have no worries afterwards? Would you kill? Some have gone deeper to say that the show was about the inequality of distribution wealth in the word. What is it you ask? Ok, here goes , "Top 1 percent of households own 43 percent of global wealth" – source Visusalcapitalist
The Guardian reports that after jumping more than 310,000% in value as of Sunday night, Squid lost all its value after Twitter flagged the cryptocurrency’s account and temporarily restricted it due to “suspicious activity”. (eyecoops-I checked twitter and as of November 2 2021 at 11 PM the account was still restricted.)
Right before its collapse, the token’s value had spiked to $2,856. The token’s website and social accounts have disappeared, along with a white paper describing Squid. (eyescoops- it is estimated the scammers may have run off with over 2 million dollars worth of investors money.)
The token was made available for purchase on 20 October with the idea that the cryptocurrency would be a pay-to-play token to play an online game, inspired by Squid Games, the hit series in which heavily indebted people play deadly versions of children’s games to win cash…. more
Red Flag indicators For Seasoned Investors And New Investors
Something was not right with SQUIDTOKEN. I can’t confirm anything now, as all traces of SQUIDTOKEN, it’s website, whitepaper and social media accounts have vanished. Their whitepaper had spelling errors.
That is one big red flag for me, spelling and sentence structure errors always scream scam and hacker to me. Sure maybe one error, I get that. Any self respecting entity would catch on to errors and fix them asap, in my opinion. The website reportedly did not have a professional look, not like what we are used to seeing with reputable ICOs, Coins and Tokens like the Shiba Inu Token.
Shiba Inu Token, also has taken off causing all sorts of speculation of wealth, non of it even remotely moved my eyebrow up, nor did I stare with concern out the window from the kitchen chair as I first read about the token as I sipped my morning coffee.
With all this it’s still easy to get scammed. The scammers are cleaver and sometimes we put up up blinders when we want to believe, even when in the back of our minds we know its to good to be true.
CNBC reports an investor in Shanghai lost $28 thousand dollars, the victims life savings and another anonymous victim lost $5 thousand, as reported by Coinmarketcap. Will Squid Game scam investors get their money back? Sad truth but a reality, no, Probably not.
I think all the hype of the TV show help the scam token, SQUIDTOKEN take hold, the popularity of it. But then why, hasn’t the the real THESQUIDGAMETOEKN ( not a scam token) not taken off in popularity? What do you think that is? Comment Below, lets start a conversation!
Some final thoughts…
I have reached out to both SQIUDGAMETOKEN and Squid Game Protocol for comment, If they comment I will update this post so please subscribe to my newsletter. Not only will you be notified of posts and updates but you will be entered into my RANDOM Cryptocurrency Giveaways. Subscribe here
Governments all over the world are starting regulate cryptocurrencies and crypto exchanges, maybe it shouldn’t be so easy to just set up shop as a new ICO and offer a coin or token. And some countries still think they can control crypto with out letting it take its course like China. What are your thoughts? Comment below!