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During the New Year, when having dinner with relatives, they talked about the tricks of running a gold store. It's pretty much the same as what’s exposed on Douyin. There’s a remote control that can manipulate the scale; if you put 100g of gold on it, it can be remotely adjusted to 0. Of course, it’s not that ridiculous in reality, but they do sometimes take 30% or 50% off.
Many people sell gold without weighing it themselves. When they go in, the store weighs it, and suddenly, 700g turns into 300g.
However, sometimes they also fall victim to scams. Someone weighs their gold beforehand and then comes in, claiming they’re not sure. For example, the remote control might have dropped it by 20%, so now 50g becomes 40g. After the money is transferred, they take a photo for keepsake and then run off with the gold.
When they call the police, the police don’t care; they know these people are usually not clean either.
It’s said that according to the law, one is called robbery and the other is called fraud, but I haven’t researched it in detail.
Anyway, when you think about it, isn’t a lot of physical business just fraud? How much cleaner can it be compared to the crypto space?
For example, in the gold recycling business, if they don’t take your weight or quality into account, they can’t even cover the rent for the store. Plus, many places that advertise high prices for recycling offer prices higher than the international market price, which is clearly a scam to fool the gullible.
Also, on Douyin, there are often promotions where a gold necklace weighing several tens of grams is given away for just a few bucks, claiming it’s a benefit from a big boss, and many rural elders believe it to be true.
Being in the crypto space feels like a cesspool, but if you go out and look around, the air in the crypto space still feels quite fresh. At least this kind of blatant deception is still condemned, while in many industries, it’s almost a common practice for everyone.
Interestingly, an old acquaintance said not to scam people from Northeast China, as they are known for being crafty.
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