Starting my own cryptocoin?

Posted in the Jackson-Heights Forum

moneyman

Columbia, MD

#1 Mar 19, 2014
I am thinking about making my own cryptocurrency similar to bitcoin "my understanding is that it is rather easy to make one" and then sell them to unsuspecting investors. Basically cold call a bunch of people and convince them to buy my cryptocurrency by telling them that it is going to take off like bitcoin did and within a year or so they will be making 500% returns. Would something like this be illegal at all? Because technically cryptocurrency isn't even recognized by most governments as a currency/security so could bureaus like the SEC even investigate/charge me? I think it should be legal but wanted to get some other peoples opinion on this.

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