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Bitconnect founder indicted in global $2.4B cryptocurrency scheme

justice.gov

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Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme

#5

Nice job. Now if only some people would see the difference between an actual ponzi scheme like this one and bitcoin and other cryptocurrencies. That would be nice.

There isn't any difference.

I don't think crypto is a ponzi scheme, but I DO think storing your crypto on third party servers is dangerous.

Although whenever I hear claims of "guaranteed returns" or "proprietary investment technologies" I do think it may be a ponzi scheme lol

Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme

#6

Nice job. Now if only some people would see the difference between an actual ponzi scheme like this one and bitcoin and other cryptocurrencies. That would be nice.

Show me one cryptocurrency that has driven real world industry more than financial speculation and scamming.

Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme

#7

Nice job. Now if only some people would see the difference between an actual ponzi scheme like this one and bitcoin and other cryptocurrencies. That would be nice.

It will take time. Upsetting technologies attract conartists like flies to honey. Critics will deliberately conflate the cons with the rest until then, as it's a very convenient argument (though obviously fallacious.)

Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme

#8

Nice job. Now if only some people would see the difference between an actual ponzi scheme like this one and bitcoin and other cryptocurrencies. That would be nice.

The really fascinating bit isn't that they're currently programmed to think that crypto is doubleplusungood, it's the 180 narrative flip they'll do the second that their chosen media entities tells them to view crypto as doubleplusgood. You're going to see hordes of former crypto detractors rewrite history in their minds and come out with a new viewpoint without an inkling of self-awareness.

Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme

#9

Nice job. Now if only some people would see the difference between an actual ponzi scheme like this one and bitcoin and other cryptocurrencies. That would be nice.

Let's assume for the faith of your argument that Bitcoin is a ponzi scheme. Who is at the top that gains from all of this? And how are you gonna indict "them" when seemingly no one knows who they are?

Re: Bitconnect founder indicted in global $2.4B cryptocurrency scheme

#10
post #7

Nice job. Now if only some people would see the difference between an actual ponzi scheme like this one and bitcoin and other cryptocurrencies. That would be nice.

It will take time. Upsetting technologies attract conartists like flies to honey. Critics will deliberately conflate the cons with the rest until then, as it's a very convenient argument (though obviously fallacious.)

> It is difficult to get a man to understand something when his salary depends upon his not understanding it.

> - Upton Sinclair

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