Have you heard about it? Is it the next big thing? Are you going to miss out? Do you want to get in early?
So there I was on an early summer evening at one of my children’s sports activities, I told the coach, “No no I don’t want to be on the WhatsApp group because of privacy issues”.
And why do I want to read all those other pointless and irritating messages from other parents (usually with nothing better to do?)
Anyway, the conversation was overheard by another father, “yeah, me too” he said. “I can’t stand it when all these apps are just listening in and generating content and adverts specific to me and whatever I’m doing or interested in.
And that was the beginning of our conversation which quickly moved onto g999.
I’ve never heard of G999 but apparently it’s a new cryptocurrency (there are thousands of them) I’ve heard of Bitcoin obviously and many other types. My background in regulation and compliance sparked an immediate interest in this ‘get rich quick’ investment.
Apparently G999 is the next Bitcoin and it’s important to get in early (otherwise you’ll miss out). The Father’s wife was also there and she became very evangelical about G Triple 9. It seemed it was going to solve a lot of ‘privacy’ issues for companies and it did important things on something called the blockchain.
It’s going up they said, it’s going to double, quadruple. Get in early. Maybe from 0.003 to 0.006 to 0.009 and so on.
All their funds are going to be invested into this g999
I was silently thinking, is it a coincidence that 999 is in it, what with that being the emergency number for the police?
Anyway, being polite I let them continue speaking (and as with most people that are full of self-interest they asked me little and were happy to babble on).
They told me that G999 would be used by companies that are concerned with privacy because they would be able to send messages securely and have some sort of contracts connected.
“Great”, I said with a puzzled look.
I thought companies can use all sorts of email services using encryption software, so I couldn’t quite see the advantages, but maybe I was simply missing something.
It struck me that there were elements of multi-level marketing. There was the Burning of coins. There was the advantage of things going via a regulated bank in Germany.
Then the Father slapped down a card that looked like any other credit/debit card. It weighed a bit more than other ones (giving some physical sense of value, perhaps) and the Father said he can deposit Fiat currency and convert into the crypto currency of his choice.
Furthermore, he can apparently spend on the card just like you would spend on any other card!
He’s ticking some boxes here I thought.
Regulated and apparently you can use it like an exchange of cash or using a debit card.
I must look up this Triple 999 – is it the next big thing, I started to wonder.
But before I got to doing some due diligence a Woman (the Wife) proceeded to tell me that she had contacted her employer regarding her pension to get a valuation.
Of course this also got my interest because I’ve got experience and knowledge with pensions and specifically pension related scams. She said her HR department said it was unusual for a 50 year old (who’s only been with her Local Government employer) to ask for this.
It’s usually those coming up to retirement.
Confusingly, the Wife said she was going to be putting all her money, everything she’s got into G999.
Alarm bells were ringing.
I did briefly tell her that if she stuck with her local government and the local government scheme she would probably have quite a decent or a pension.
But she didn’t seem to listen to that.
She just seemed to think that it was a wise decision to put everything into some cryptocurrency.
Thankfully, the sports session ended and I got to talk about more interesting things with my son.
But, I was intrigued so when I got some time I looked up G999.
The mastermind behind it all is a guy called Josip Heit, which sounds a bit like a mis spelling.
Or maybe it’s just a pseudonym!
From digging around a little more it started to have all the marks of some cultish multi level marketing scheme.
A Ponzi type multi-level marketing scheme. After a few clicks I’d had enough.
I didn’t want to investigate any further than what I’d already looked at.
And just this small peek made me think – ‘What is this junk?’
It looks very enticing, if you are easily led.
If you want to make quick money, make money, make money online, quick easy, way quick access, quickie quickie quickie in a self gratifying sort of way.
Triple your money.
Crypto is the next big thing.
The whole financial system is in disarray.
A new coming (with sandals and all)….is upon us etc etc.
Yet, a little bit of common sense tells you that it’s all going to collapse in a pile of salty tears.
There are hundreds, probably thousands of these cryptocurrencies.
And just as many vulnerable lemmings looking for a quickie.
G Triple 9 – What to takeaway?
If you read stories from the 1929 stock market crash (and many other type of Multi Level Pyramid schemes) you will frequently find that everyone (and his mum) was talking about how they’re going to make a load of money.
Real quick, real easy.
But there really is never a real quick or a real easy way.
Maybe I’m missing something. Maybe G Triple9 is the next big thing.
But my gut instinct tells me it isn’t. I hope I’m right!