The difference between bags.fm and pennystock scams is that bags.fm is very obviously not marketed as an investment, but a crowdfunding tool.

It's absolutely marketed as an investment, and solely used and referenced by people saying it is an investment. This is like saying those cannabis paraphernalia shops are marketed as only for tobacco.

Yegge write a blog post for his readers where he called it an investment and hoped the investors would get “filthy rich”.