Lord Sugar’s Take On Cryptocurrencies

Lord Sugar’s Take On Cryptocurrencies

The Mirror (UK) have today posted an article that discusses Lord Alan Sugar outrage at his photo being used to promote a Bitcoin scam.

Check out the article in question for yourself, here- https://www.mirror.co.uk/news/uk-news/lord-alan-sugar-brands-bitcoin-12546355

Fake/False celebrity endorsement is of course a common tactic used by crypto-scammers. Moreover, its most common for ‘finance’ celebrities such as Lord Sugar, Martin Lewis, Deborah Meaden etc to be used to ‘front’ these scams.

It’s obvious why scammers are using these tactics. As humans we respond well to familiarity. Celebrities are seen as experts in their fields, that’s why they are famous right, so by showing financial magnates along side a link to a cryptocurrency scam, you can guarantee your links and your adverts will get a lot of attention.

The perplexing thing here is though, as these celebs keep getting dragged into the scammers underworld, few ever seem to actually comment on real cryptocurrencies, instead, they just focus on the scams and focus on what’s wrong with the industry.

By stepping back and actually endorsing the real technology and the real future behind major cryptocurrencies, they might actually be able to build a good name for themselves in the field, which in turn might discourage scammers from using their faces to promote their scams.

Perhaps the celebs are too busy for this, maybe?

It would be nice to see, for a change, people like Lord Sugar at least talk about some of the inherent benefits within cryptocurrencies. Of course, he is right in slamming the scams and pointing them out as false, or ‘scum’ in his words but overall, giving attention to the scammers doesn’t give cryptocurrency the good name it is trying to generate, instead, it just focuses mainstream attention on the darker side of things, the things that, given the right knowledge and the right opportunity, investors and traders can avoid altogether.

Perhaps one day we will see a convergence between celebrity culture and the crypto-sphere. For now, though, for as long as scammers and thieves keep ripping them off, we might be waiting some time before we see cryptocurrency projects written into Lord Sugar’s Apprentice, it could be years before Dragon’s Den are offering cryptocurrency payments to new entrepreneurs.

Featured Image Original Source: Wikipedia Commons


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