Be careful, most of them are a lion to you

Bostoncoin update May-June 2024

dog dressed as lion

Everyone else is a lion

Until we get clear crypto legislation, nasty people are going to be lying, cheating, scamming, pumping and dumping. We have been used to scams via email for many years (Nigerian Princes, fake inheritances, forward this email to ten friends and Bill Gates will give you a dollar, and so on). The internet provides a certain amount of anonymity where people can pretend to be what they are not. Most scammers cannot be tracked, traced or punished; this is the anonymous internet.

What is said about the internet can also be said of blockchain: anonymity can be great for privacy but can also provide cover for nasty people to be dishonest.

If you have been on crypto Twitter, Discord or Telegram for more than five minutes, someone will contact you saying they are from Tech Support, or claiming to be a celebrity or a famous billionaire. Hopefully, you do not fall for their lies. In cryptopia, we do not trust, we verify.

Satoshi and others created the blockchain and smart contracts for provable, immutable data, so everyone can witness what happened.

It is more disconcerting when we have people who are actually real, making real statements that they know to be false.

One would hope that by now, you ignore any celebrities who claim to be issuing or supporting a crypto project; especially after Kim Kardashian, Floyd Mayweather and others were charged and fined.

It seems that Kaitlyn Jenner issued some kind of token recently, and it was shut down within 48 hours. Celebrity shill scams are the new celebrity sex tapes.

We trust that you do not take financial advice from someone whose qualifications include makeup tutorials, naked photos or a fashion line. But some people are still being fooled by business and investing icons, so beware.

Over a year ago (Feb 2023) we warned you that billionaires were lying to you and it looks like they still are.

If a billionaire owned stock in a listed company and made untrue claims about it, they would face charges of market manipulation, insider trading, or fraud. They could face financial penalties, prison time, and a ban from directing a company. But crypto has no laws like the stock market. The loophole is still open… Know this: There are people who do the right thing because they are good people, and there are people who do the right thing only because they fear getting punished.

In April this year, JP Morgan CEO Jamie Dimon called Bitcoin a fraud and a Ponzi scheme (again!). In May, it was disclosed that JP Morgan held funds in a spot Bitcoin ETF, at the same time he called it a fraud. Who’s the real fraud, Jamie?

Would you buy something if you thought it was fake money? Dimon is not stupid: it is unlikely that the CEO would be unaware of what his own company is investing in. So is he a liar? Well, that depends on your definition of “alternative facts”… Maybe Dimon was just engaging in ‘locker room talk’ to drive the price of Bitcoin down so that he could buy it more cheaply.

You could call it ‘market manipulation’ but if there is no law against it, then it is technically legal (albeit immoral, dishonest and distasteful). Until the SEC or the International Council on Crypto make it illegal, he can get away with it. Lie on, you crazy Dimon.

Other billionaire news

Everyone’s favourite avuncular billionaire, Warren Buffett, made news this month when his net worth plunged by 99.7%… for a few minutes.

It seems that a glitch on the New York Stock Exchange sent Buffett’s Berkshire Hathaway stock crashing down from over $600 000 to under $200.

The stock exchange halted trading, and the glitch was fixed within a few minutes. Several people who purchased BRK.A stock had their trades reversed by the exchange.

Outspoken critic of centralisation, Edward Snowden, tweeted simply: “Bitcoin fixes this.”

In a world where every transaction is public, where computer code is open-source, there can be no secrets. There need be no reliance on a central authority to fix things, and no reversal of funds flow. We the people can have freedom and flexibility to help others and reclaim our freedoms. #BlockchainFixesThis and many other problems.


What else is news?


The Bostoncoin portfolio is up 23% since this time last year. For comparison, most mutual funds or superannuation funds ranged between 7-10% for the year.

We hold smaller positions in some coins which exceeded expectations, such as

      Kaspa         up 803%

       Solana        up 779%

       Arweave    up 624%


As at May 31 2024

BOS Price AUD 86.1113582051

BOS Price USD 57.224633



The DARTcoin portfolio is up 330.2% since this time last year. We celebrate the occasion and we also remind all investors that the DART fund has higher volatility and higher risk. We are not saying that the fund could drop 99.7% like Berkshire Hathaway, but know that the average DART return over the last 2 years was 28% per year.

We have had some big winners, including

          Pendle        up 1575%

          Akash         up 743%

          RUNE          up 536%

          QANX          up 510%

          Render       up 391%


As at May 31 2024

DART Price AUD 238.0740924973

DART Price USD 158.28791


As you go out into the world, remember three things:

  1. Only trust people who can verify their claims
  2. Diversification and long-term horizons reduce the risks of volatility
  3. Those who tell their friends about Bostoncoin get free swag

(Pictured, Kiran, accountant, Sydney NSW in his Boston shirt)


Stay safe out there. See you next month




PS – if you want to change the world, it’s best to start small.

Step 1: leave a review here saying nice things about us, our team, our funds, whatever you like.

Step 2: visit here and choose whether to give education, food, water or medical supplies. We will make a donation to charity on your behalf, to say thankyou. You just changed lives! And it’s verified The password is Bostoncoin.