The only reason why guys like Portnoy view Bitcoin as a ponzi is because he only understands it as a way to get more USD. Portnoy has to acknowledge why other people value and appreciate Bitcoin. It's not just a "get rich quick scheme". It's a "change the rules of the game scheme".
Bitcoin is a market mechanism to find equilibrium between supply and demand, store value, and allow humans to coordinate and collaborate in new and peaceful ways. Problem is that the IRS stifles Bitcoin's use as a medium of exchange because of the tax laws.
My favorite daily BTC wisdom quotes - inspired by Roubini's tweet rants: "Bitcoin Is A Ponzi Game And A Conduit For Criminal Activities"
"If you think that a couple of twitter message is sufficient to prove or disprove the merit of BTC, you clearly have no any meaningful understanding of Bitcoin." "Bitcoin has many features appealing to the logic, but the beauty of BTC is that it exists by the will of people, and without the need of the approval or permission of any particular individual." "Nouriel - do me a favor. Please tell us the name of the person who do you think is the Ponzi of Bitcoin. You know, the single person, who makes up the entire scheme and controls every single aspect of it, as it is done in every single case of a Ponzi scheme during the history." Read more: http://www.businessinsider.com/roubini-bitcoin-is-a-ponzi-scheme-and-a-conduit-for-criminal-activities-2014-3#ixzz2vVypg6pS
Bitcoin mentioned around Reddit: Create a ponzi scheme, openly advertise it as such, and see how many people still invest thinking they can game the system. They can't call the cops, because you openly told them you'd be taking their /r/CrazyIdeas
This set of indicators draws from the inherent characteristics and vulnerabilities associated with the underlying technology of VAs. The various technological features below increase anonymity and add hurdles to the detection of criminal activity by LEAs. These factors make VAs attractive to criminals looking to disguise or store their funds. Nevertheless, the mere presence of these features in an activity does not automatically suggest an illicit transaction. For example, the use of a hardware or paper wallet may be legitimate as a way to secure VAs against thefts. Again, the presence of these indicators should be considered in the context of other characteristics about the customer and relationship, or a logical business explanation.
Transactions by a customer involving more than one type of VA, despite additional transaction fees, and especially those VAs that provide higher anonymity, such as anonymity-enhanced cryptocurrency (AEC) or privacy coins. Moving a VA that operates on a public, transparent blockchain, such as Bitcoin, to a centralised exchange and then immediately trading it for an AEC or privacy coin. Customers that operate as an unregistered/unlicensed VASP on peer-to-peer (P2P) exchange websites, particularly when there are concerns that the customers handle huge amount of VA transfers on its customer’s behalf, and charge higher fees to its customer than transmission services offered by other exchanges. Use of bank accounts to facilitate these P2P transactions. Abnormal transactional activity (level and volume) of VAs cashed out at exchanges from P2P platform-associated wallets with no logical business explanation. VAs transferred to or from wallets that show previous patterns of activity associated with the use of VASPs that operate mixing or tumbling services or P2P platforms. Transactions making use of mixing and tumbling services, suggesting an intent to obscure the flow of illicit funds between known wallet addresses and darknet marketplaces. Funds deposited or withdrawn from a VA address or wallet with direct and indirect exposure links to known suspicious sources, including darknet marketplaces, mixing/tumbling services, questionable gambling sites, illegal activities (e.g. ransomware) and/or theft reports. The use of decentralised/unhosted, hardware or paper wallets to transport VAs across borders. Users entering the VASP platform having registered their Internet domain names through proxies or using domain name registrars (DNS) that suppress or redact the owners of the domain names. Users entering the VASP platform using an IP address associated with a darknet or other similar software that allows anonymous communication, including encrypted emails and VPNs. Transactions between partners using various anonymous encrypted communication means (e.g. forums, chats, mobile applications, online games, etc.) instead of a VASP. A large number of seemingly unrelated VA wallets controlled from the same IP-address (or MAC-address), which may involve the use of shell wallets registered to different users to conceal their relation to each other. Use of VAs whose design is not adequately documented, or that are linked to possible fraud or other tools aimed at implementing fraudulent schemes, such as Ponzi schemes. Receiving funds from or sending funds to VASPs whose CDD or know-your- customer (KYC) processes are demonstrably weak or non-existent. Using VA ATMs/kiosks – o despite the higher transaction fees and including those commonly used by mules or scam victims; or o in high-risk locations where increased criminal activities occur. A single use of an ATM/kiosk is not enough in and of itself to constitute a red flag, but would if it was coupled with the machine being in a high-risk area, or was used for repeated small transactions (or other additional factors).
Chart comparing bitcoin price vs tether printing vs retail interest
Greetings community! I know there has been plenty of charts comparing tether and price of bitcoin. I thought that with the last ~4 months of tether treasury ridiculous amounts of printing, i would update chart and also added retail interest through start of 2017 until today. It is rather clear, that after 2017 bubble, there (luckily) is not much retail interest being scammed into this ponzi and hopefully never will. Without retail however, pyramid wont grow and will collapse soon enough. I thought that perhaps community also finds this chart interesting. Also my hope is that those still holding and perhaps happen to read this post, would use this opportunity to get their funds out of this asset class. As we know, it is a zero-sum game, so in simple terms, i would rather see 10 000 000 retail participants get each their $1000 out, than see Bitfinex scamming schmucks through offshore accounts or what-not, get away with $10B. If this post helps atleast one person, it is well worth it. Here is the chart: https://imgur.com/zxFmFUs
Jesus H. Christ, I nearly fell hook, line and sinker for what appears to be an innocuous triangle on the surface but is actually a lording pyramid in truth. On Monday my friend who happens to be a semi-pro sportsman with his eyes on the financial freedom dream you see in YouTube ads rocks up to my house. He's parked outside and reckons to me, "dude, are you keen to go to a board game thing where you learn how to manage your finances?" I'm usually against financial preaching and stuff because it usually sounds hokey and bullshit, but against my better judgement I cave in and we go. The whole ride there he's telling me about this amazing mentor that's going to make me learn about making money without any effort, a dude I'm going to call James. Now James is a charming, well-off guy with a family. He doesn't quite have the YouTube millionaire lifestyle that you usually expect in this sort of 'profession' but I'd happily trade places with him if the opportunity presented itself. Anyhow, from moment one, James and my friend are mouthing off incessantly about how much money they're making on Freebay. Mind you, I'm oblivious to what the fuck is going on because I don't understand what's cracking - but literally the whole time there's graphs on a screen, and they're talking about these magical AI bots that guarantee returns on investment. Now this is South Africa, and these blokes are talking about making something like 10 000 USD in a month!? Do you know that 10 000 USD in South Africa is like enough to pay for an entire undergraduate degree at the best university in the country, and these geezers are making this shit in a month? Fucking hell. Anyhow, we digress from the discussion about Bitcoin and that to get to the meat and potatoes of the meet-up, which was to play that Cashflow game that that bloke who wrote Rich Dad Poor Dad formulated. Before we got to playing the game we had this zoom webinar with fellow victims... I mean participants, and they're all monotonously droning on with a despondent stare the same principles from this book that's supposed to be the Bible to financial freedom. There's a charismatic bloke leading the charge and the whole thing feels eerily reminiscent to a cult, in retrospect. You see, in the moment I'm eating all of this shit up about how wealth is a mindset and what not, and when I consider the conversation that was had around me just before the webinar - I saw two positive blokes trusting in this 'company' or whatever and seeing clear cut returns. Maybe they're right, maybe they're onto something. We play this game and that's all I'm thinking about: passive income, wealth, financial freedom - FREEBAY. After the game, I'm sat talking to this James bloke, his missus and my mate. They're apparently all on this Freebay tip making stacks of foreign cash that doesn't get taxed by the government, and now they're sizing me up. I tell them I'm a small-time writer in uni studying to become a teacher. They tell me that I can exponentially increase my earning potential by watching the link to video that my friend had sent to me during the webinar, and then by opting into a 190 EUR package... the same things I running through my mind: passive income, wealth, financial freedom - FREE FUCKING BAY. And then I go home, ruminate over the whole thing and begin my research. The whole thing? A facade. Apparently, this Freebay shit was being run under the name of some other pyramid/ponzi-esque cryptocurrency racket called Karatbay and people got fucking conned out of hundreds of thousands of dollars. Suddenly, I realise from the website that they posture themselves as 'affiliate marketers' or whatever in an attempt to hide in plain sight. What's worse is that when I play the sequence of events back in my mind from the beginning when my friend randomly rocked up to my house, the whole thing felt like an entire fucking rat trap and I nearly fell for it too. What blows is that my buddy is balls deep in the pyramid and he's blinded by the illusion that he'll find wealth with these people. He's on the prowl for every friend, family member and acquaintance he can get his hands on and it sucks to see him acting this way. I just thought I'd share my story. Always be on the lookout guys, these motherfuckers are everywhere - try and save your buddies from this shite. Also, I just thought it'd be wise to mention the name FreeBay in any anti-MLM rhetoric you spew, because these people are predatory as hell.
Hello Redditors, my name is Alex Gutmann, I am the CEO of Bitrockxa Capital and today I present you my DeFi Token Rockxa.finance. The Bitrockxa Capital Lending Fund is a modern, highly automated and profitable crypto hedge fund and the first Bitcoin lending fund of its kind. 20 years of market experience paired with the most modern trading and lending engines generate an average return of over 14% per year. After joining the crypto universe six years ago and hearing many unfortunate stories from people who lost everything to make up for their losses by trading alts while all they had to do was hold bitcoin, I came across one solution. An interest based crypto fund. I want to expand my company further by creating the DeFi Token Rockxa.Finance. DeFi is a very interesting concept and it certainly has enormous potential for the future. So far it seems to me that it is definitely a zero-sum game at the moment. The high returns are only bearable as long as other people fill the "Ponzi" scheme. This is usually always the case with new emerging markets. Therefore, I designed the Rockxa Finance Token so that it is fully update capable in order to update future developments that will offer the best possible return and / or function. I don't want to set up a pump and dump scheme, but rather offer an opportunity to participate in the new DeFi market at an early stage. The income from the presale will be used to expand rockxa finance and Bitrockxa Capital. 25% of the income will be invested in the lendings funds at Bitrockxa capital, and the income is used to support the Rockxa Finance network. 25% go back to DeFi pools as liquidity and the remaining 50% will be used for the further development of Bitrockxa and Rockxa. The aim is to get a hedge fund with a license on the US stock exchange. The main goal behind Bitrockxa and Rockxa Finance is to give the rest of the world access to attractive returns and investment opportunities. Not everyone is lucky enough to live in a country that allows free access to the financial markets. Now a few facts about Rockxa.Finance total supply 4,200,000 tokens presale: 1,300,000 tokens website and presale: rockxa.finance price $ 1.50 per Rockxa / 210 Rockxa per ETH Presale is open! Coming updates: staking, farming, lending, burning Also AMA Regards Alex Gutmann CEO Bitrockxa Capital
Augustus Cartens, the General Manager of the Bank of International Statements (BIS), appears to have taken a reverse in his outlook of digital currencies. In an interview with Fin Using Bitcoin Safely Is The Fun Way To Use Bitcoin It's no secret that if you own Bitcoin that you get to be your own bank whenever you hold your own private keys. However, frequently to get the full use out of Bitcoin, or money in general, you need to have it held with various institutions. These institutions may be a bank where you can store your money for safe keeping or an investment ... Open bitcoin Ponzi games have been going on since at least around 2011, and people seem to have had a lot of fun playing with different rule sets (higher or lower payouts, letting players choose ... Bitcoin, by contrast, has no intrinsic value at all. Combine that lack of a tether to reality with the very limited extent to which bitcoin is used for anything, and you have an asset whose price ... Bitcoin (BTC) Based Crypto Games Promote Gambling While Spoiling Investment Attitude October 5, 2020 Off By Maheen Hernandez . Bitcoin continues to enjoy support at $10.5K as increasing numbers of people are beginning to realize that fiat money and fiat rules are destroying the savings and the rule of law. People are beginning to realize the importance of personal responsibility to survive ...
Fairest crypto-game is a PONZI TRUST based on the blockchain Ethereum. 🌐 Web: https://ponzitrust.com 📈 Exchange: https://ponzitrust.exchange 🏅 Bounty: https:... Ada Video yang menyatakan bahwa Bitcoin adalah skema ponzi. Scam Alert! Hal ini sangat misleading. Skema Ponzi adalah modus investasi palsu yang membayarkan ... 🎲🎲🎲 Fairest PONZI TRUST Crypto-Game based on the blockchain.👍🏻 Proven Trust! 🌐 Web: https://ponzitrust.com 📈 Exchange: https://ponzitrust.exchange 🏅 Bounty: ... Jeffrey Epstein: The Game of the Global Elite [Full Investigative Documentary] - Duration: 56 ... Rickards: ‘Bitcoin is a Ponzi Scheme’ - Duration: 7:28. Hedgeye 148,027 views. 7:28 ... $hitcoins in Africa - Crypto Kitties, Ponzi Games - Bitcoin Generator. Three amazing songs in one original crypto song demo, no real mic, just a poorly lapto...