The next bad news for Bitcoin and for the Crypto market at large will probably be the impending collapse of Bitconnect (BCC), which appears to be an elaborate Ponzi scheme / scam.
Bitconnect appears to be fueled by an elaborate Ponzi / Pyramid scheme that does not look sustainable. The problem is that the current market cap of Bitconnect is $1.5 billion, so this is a lot of money that will go up in smoke when the scheme collapses and the site disappears together with the people behind it (who have apparently pocketed many Bitcoins in the process). I think this event, which is bound to happen pretty soon, will shake the confidence into Crypto currencies at large, and could indirectly cause Bitcoin to crash (again), before eventually recovering as always. It could also prompt some governments to increase oversight and regulation around Crypto currencies, to prevent similar scams from happening in the future. For more info, google "Bitconnect scam" and you will see a large number of posts and videos exposing the inner working of their scheme. What are your thoughts about that? Do you think Bitconnect is a big liability for the entire Crypto industry? EDIT: Note that BCC on Bittrex is actually Bitcoin Cash (BCH on most exchanges). Don't get confused!
08-16 12:24 - 'Ok guys so what is the latest news on the "Chinese Ponzi" BTC and ETH? Last we heard this was legit news - approx 200k BTC & 800k ETH held - which are in the process of being slowly liquidated. / But who is liquidati...' by /u/RoklemCrypto removed from /r/Bitcoin within 261-271min
''' Ok guys so what is the latest news on the "Chinese Ponzi" BTC and ETH? Last we heard this was legit news - approx 200k BTC & 800k ETH held - which are in the process of being slowly liquidated. But who is liquidating? Is this the Chinese authorities liquidating? Or someone connected to the ponzi creators themselves? ''' Context Link Go1dfish undelete link unreddit undelete link Author: RoklemCrypto
Bitcoin News Canadian Securities Firm: Quadriga CX Was a Ponzi Scheme. Perhaps one of the biggest – and scariest – mysteries to emerge from the cryptocurrency space over the past few years has ... Bitcoin ist nicht nur die größte und bekannteste Kryptowährung, sondern eine, die wohl mit den meisten Vorwürfen zu kämpfen hat. Abgesehen von den gängigen Anschuldigungen der unzureichenden Geschwindigkeit / Skalierbarkeit, der Umweltprobleme durch Bitcoin Mining und der zu hohen Kosten für Transaktionen, wird Bitcoin auch oft als Ponzi bezeichnet (Pyramidensystem / Schneeballsystem). Three companies allegedly running a large-scale cryptocurrency Ponzi scheme are being investigated by Indian police. The scheme promises extraordinary returns to investors. The police have ... The last reason why Bitcoin is not a ponzi scheme is simply because it is money. It’s just as easy to call the USD a ponzi scheme because it has equally as little inherent value as bitcoin does. The only reason Bitcoin and the USD have value is because people believe it does. Without a sufficient amount of individuals willing to exchange something useless for something useful, the money ... A Romanian man admitted Thursday to conspiring to engage in wire fraud and selling unregistered securities linked to Bitclub Network, a cryptocurrency mining Ponzi scheme worth at least $722 million.
ELDERHASH - The Latest Bitcoin Ponzi Scheme To Stay Away From
ANTONOPOULOS - THE FUTURE OF MONEY: How Bitcoin & Blockchain Become The World’s Currency - Part 1/2 - Duration: 45:52. London Real 228,330 views It seems like everytime one Bitcoin Ponzi scheme scams away with their investor's money, another one pops up in its place. It's literally like playing a game of Whack-A-Mole. Elderhash follows the ... Bitcoin has been in existence for all of eight years but a debate is raging in the investing community: Is the cryptocurrency actually useful beyond just bei... Is Bitcoin a Ponzi scheme? Let's break down what a Ponzi scheme actually is and compare that to bitcoin. 💰bonus 8 € Acquista facilmente bitcoin su Coinbase : https: ... ‘Bitcoin is a Ponzi Scheme’ - Duration: 7:28. Hedgeye Recommended for you. 7:28. Investire in Ripple - Il futuro delle ...