Editorial
A coin promoted on social media as "sure to rise 10 times"; why the reader could not explain it and passed
Contents
The situation
On social media, a coin was being promoted with lines like “it will be 10 times more soon” and “buy now and you will surely profit.” The post was lined up with screenshots of people who had already gained, and a deadline: “this price is only valid today.”
What stands out
- A post that says “sure” or “only now” is a way of rushing you. No investment can promise that it will rise.
- I could not explain in my own words who issues the coin, what it is used for, or why it has value.
- Crypto asset prices can move sharply from day to day. If you bought 100,000 yen and the price halved a week later, you would have 50,000 yen left.
- In Japan, businesses that handle crypto assets must be registered as crypto asset exchange service providers. You can check this in the Financial Services Agency’s list of registered businesses. I looked for the platform being promoted in that list, but could not find it.
- How profits are taxed may differ from stocks, and the rules are being reviewed. It is necessary to check the latest guidance from the National Tax Agency.
Why one might pass
The only reason for the rise was “everyone is saying so”, and I had not decided how much I could afford to lose. I did not want to put an amount I could not decide into something I could not explain, so I passed.
What I thought about afterwards
Whether the price goes up or down after passing cannot be known at the time. This is not a story about being “right”. It is a record of drawing a personal line: do not buy what you cannot explain.
What this case shows
- Treat “sure”, “guaranteed” and “only now” as a cue to stop and check.
- Find out who issues it, what it is used for, and where it is traded (whether the business is registered).
- Decide, before buying, how much you could afford to lose.
Related: Why record the deals you passed on: a checklist for skipping decisions
We also welcome your own story of an investment you passed on. Send your story.
This article is a story rebuilt from examples shared by readers, with details changed so that no individual can be identified. Some numbers and conditions are illustrations. It is not a recommendation of any crypto asset or investment. Prices can swing widely and you can lose a large part of your principal.
Found this useful? Let us know (anonymous).
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