There are endless cryptocurrency scams. Mostly these rely on people’s greed for instant money and play on the reputation of Bitcoin in particular for making millionaires.

Bitcoin has bankrupted many people as well, as the price swings are often violent and unpredictable.

This latest scam also tries to jump on the bandwagon of Artificial Intelligence.

It claims that MIT scientists have an AI that can predict with 100 % accuracy which cryptocurrencies are just about to make a 15,000% increase in price.

Supposedly it has done that previously for the scientists and they made millions.

Now they have more predictions and want to sell them online.

Cryptocurrencies have no physical basis i.e. no assets of any kind or meaning beyond what people give them.

So, the price of cryptocurrencies is entirely a matter of supply and demand. If people want more then the price goes up and if people want less then the price goes down.

Hence, no computer model could ever predict with any certainty what will happen to the price as it would be predicting how people will behave and that’s not going to happen.

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