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Thread: Is Bitcoin an imploding ponzi??...

  1. #126
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    Re: Is Bitcoin an imploding ponzi??...

    How often have we heard the website and guy posing as a girl on Facebook said they were complaint?

    Quote Originally Posted by Jamie Crawley and Ian Allison

    The Seychelles regulator believes the entity is linked to cryptocurrency exchange Huobi Global and is operating in the country despite never being licensed to do so.

    The International Business Company (IBC) Huobi Global Limited “appears to be affiliated” with the online trading platform of the same name, the Monday notice states.

    The FSA is encouraging investors to exercise caution when dealing with the company.

    Talking to CoinDesk, a Huobi representative said: “Huobi Global Limited is a Seychelles-registered company that is part of Huobi Group. It provides services to global customers in accordance with applicable laws.”

    The person said the firm’s legal team is drafting a detailed response to the FSA’s notice.

    Huobi Global’s legal statement on its exchange platform, last updated two years ago, makes multiple references to the laws and regulations of the Republic of Seychelles.

    Seychelles Regulator Issues Investor Alert Over Crypto Exchange Huobi Global

    Internet fraud and scams on the rise - Seychelles Nation

    Sun and Shadows: How an Island Paradise Became a Haven for Dirty Money - ICIJ
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  2. #127
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    Re: Is Bitcoin an imploding ponzi??...

    Quote Originally Posted by By Calvin Ebun-Amu

    5. Yield Farming Incentives

    Yield farming is a decentralized finance innovation that makes it possible to earn returns from staking cryptocurrencies. Yield farming software built on top of the Ethereum blockchain automates lending processes, allowing for people to earn interest from providing liquidity. Some yield farming projects also use Bitcoin.

    There are many legitimate yield farming projects made by top developers in the decentralized finance ecosystem but there are also many crypto scammers who may simply copy the code of existing projects and add their malicious code in order to steal funds. Other scammers have gone as far as to pretend to be legitimate for long periods of time before pulling the rug from investors and fleeing with all the funds.

    6 Crypto Scams You Need to Know Before Buying Bitcoin
    You Can Earn 6%, 8%, Even 12% on a Bitcoin ‘Savings Account’—Yeah, Right - WSJ
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  4. #128
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    Re: Is Bitcoin an imploding ponzi??...

    I guess it's useful to some to watch a hack unfold, I'm not sure where most would go with it from there.

    Quote Originally Posted by Nathan van der Heyden
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  6. #129
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    Re: Is Bitcoin an imploding ponzi??...

    When I had more energy for this nonsense I would join Facebook groups for the scam du jour. It was very typical to be offered other opportunities and to a lesser extent recovery assistance.

    Beware scam sites offering fake refunds for Mirror Trading International clients, says lawyer | Fin24
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  7. #130
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    Re: Is Bitcoin an imploding ponzi??...

    I should hope so. We got hacked for something created to compensate we'll create IOUs?

    Quote Originally Posted by Tarang Khaitan
    The market has reacted negatively to this announcement. Furucombo’s native COMBO token price is trading at $2.39, down 18.7% in the past 24 hours.
    Furucombo Will Issue IOU Tokens to Compensate Hack Victims | Crypto Briefing
    Sounds like a big Rug pull.

    What's a ‘Rug Pull’? Here's Kenny Schachter's Handy Glossary of NFT Terms for Newbie Crypto-Art Converts | Artnet News


    In security news.

    Supposedly unhackable RTX 3060 allegedly hacked to improve crypto mining | Windows Central
    Last edited by ribshaw; 03-10-2021 at 12:47 PM.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  8. #131
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    Re: Is Bitcoin an imploding ponzi??...

    Shocking...

    Quote Originally Posted by Jordan Atkins

    The indictments relate to two schemes allegedly orchestrated by McAfee and Watson. The first involved McAfee using Twitter to promote multiple ICOs while publicly claiming that he was impartial: in reality, he was paid over US$23 million worth of digital assets for his endorsements. The second was the pump-and-dump scheme, where the two would buy digital assets right before promoting them to McAfee’s one million plus followers and then selling the assets once the endorsements led to a price increase. The indictments also accuse McAfee of laundering the proceeds of this scheme via an unnamed exchange operating in the Southern District of New York.

    The allegations were already somewhat of an open issue after the Securities and Exchange Commission (SEC) brought civil charges against McAfee and Watson in 2020 in relation to the same two schemes.

    McAfee is also already under arrest in Spain awaiting extradition to the U.S. on tax evasion charges, having allegedly not filed any tax returns for four years despite earning millions from speaking engagements, international consulting work, to name only a few. On this charge, one can assume that prosecutors are confident in the veracity of their evidence:

    Crypto Crime Cartel: John McAfee, Arthur Hayes arrested and more Mt Gox deflection - CoinGeek
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  10. #132
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    Re: Is Bitcoin an imploding ponzi??...

    It's about time.

    Quote Originally Posted by Finextra
    In a complaint filed with the US district court in Norther California in April last year, Ripple said the scam had caused "irreparable harm" to its public image, brand, and reputation as a "direct consequence of YouTube’s deliberate and inexplicable failure to address a pervasive and injurious fraud occurring on its platform".

    Ripple settles with Youtube over XRP scam suit
    All the major platforms let people pump illegal crap with abandon and reporting functions are a joke.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  12. #133
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    Re: Is Bitcoin an imploding ponzi??...

    Cryptocurrency scam warning issued as investors expect Bitcoin to hit $60k this month | Personal Finance | Finance | Express.co.uk

    Quote Originally Posted by Benjamin Powers and Colin Harper
    It’s not just an Apple problem. CoinDesk also identified multiple fake wallet apps that were stealing users’ data and keys in the Google Play store.
    Crypto Wallet Scams Are on the Rise in Google, Apple App Stores
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  13. #134
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    Re: Is Bitcoin an imploding ponzi??...

    Bash one opportunity or 10 as scams only to steer people into other opportunities claiming they are the real deal?

    Hard hitting puffery...

    Quote Originally Posted by RJ Frometa


    Is Crypterium legit? Yes! It is legit because this website is working fairly with people, and there are no negative reviews or any complaints registered for this website. It is a highly recommended website.
    Top 10 Bitcoin Scams To Avoid In 2021 And How To Spot Them -
    RJ also claims Imarkets Live IM Mastery Academy is legit. Why not if a working website is one of your top criteria.

    Imarketslive - Banners Broker redux ?

    iMarketsLive "scammers" warning issued by FCA

    iMarketsLive investment warning issued in Colombia

    The Autorite des marches financiers (AMF) warns the public against the company International Markets Live LTD (IMarketsLive) | AMF

    Quote Originally Posted by TruthinAdvertising.org

    UPDATES

    9/25/20: The Direct Selling Self-Regulatory Council (DSSRC) has issued a case decision based on a TINA.org complaint finding that iMarketsLive and its distributors were making inappropriate income claims to promote the company’s business opportunity. The DSSRC recommended that the company “engage in effective training and monitoring of its IBOs (distributors) and use appropriate enforcement procedures to provide reasonable assurance that earnings claims made by its IBOs are substantiated, contain appropriate disclosures and are not misleading.”

    1/10/20: iMarketsLive has a new website and a new name: IM Mastery Academy

    https://www.truthinadvertising.org/w...-imarketslive/
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  15. #135
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    Re: Is Bitcoin an imploding ponzi??...

    It's your money people.

    I find claims of 21% annually on a perspective basis ludicrous. As I do claims of insurance without mentioning a carrier. As I do people operating financial websites hiding their identity and operating from high risk countries.

    Quote Originally Posted by Crypterium Website
    deposit crpt & earn up to 21% annually

    100% insured
    Store your digital assets in a fully insured Crypterium account.

    The Crypto Wallet with Unlimited Features | Home Page | Crypterium
    Quote Originally Posted by Scam Adviser
    Negative highlights

    The identity of the owner of the website is hidden on WHOIS
    The website is located in a high risk country.

    crypterium.com Reviews | check if site is scam or legit| Scamadviser
    To RJ's point of "no complaints" I found one on Twitter. Probably just a jelly hater.

    Quote Originally Posted by Fighting Frauds

    Exposing SCAMs
    @FightingFrauds

    Mar 7
    @crypterium
    claims they have partnered with @jumio
    for KYC however this has never been confirmed by Jumio and their KYC takes weeks. They sold user database to at least three companies and there is a high probability they trade users indentity.

    Exposing SCAMs
    @FightingFrauds

    Mar 7
    @crypterium
    has now a 3 years history of proven lies, they run fraudulent ponzi scheme, constanly block users accounts not allowing them to acces funds and they are also trying to steal money from in-app linked payment cards.

    Exposing SCAMs
    @FightingFrauds

    Mar 7
    @crypterium
    intentionally lied during their ICO about "cryptobank" and services they are going to deliver. All of these were nothing but lies, they never planned to deliver any cryptobank and they run ICO solely for stealing money.

    https://twitter.com/fightingfrauds?lang=en
    The coin was floated in 2018 and hit $3 Crypterium price today, CRPT live marketcap, chart, and info | CoinMarketCap now it's trading at $.30 There should be a full independently audited accounting of where the funds from the IPO went available to investors.


    Reviews for all manner of schemes are initially positive because people are being paid and/or seeing their accounts grow virtually. It stands to reason if you raise $50M in an ICO and the coin is now worth $25M that you could feed the fish with their own money for quite a while. Once problems occur getting actual cash the one star reviews flow like wine. Personally I have no idea if this is a scheme, but red flags are waving.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  17. #136
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    Re: Is Bitcoin an imploding ponzi??...

    It never ceases to amaze how many threatening to sue don't know the meaning of slander.

    NRGY Review: DeFi + MLM = same old Ponzi schemes
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    Financial Adviser is a generic term as opposed to CPA, CFP, PFS. and RIA that actually require qualification and testing. The regulatory system is a hodge podge of state and federal reporting of transgressions and lack there of so multiple checks are needed before entrusting your money to someone.

    Back of the envelope a financial professional will make 1% of assets under management per year. If someone has $7M under management they're making $70,000 per year, enough for a modest house, car, and small wedding.

    Consistent gains of 50% per month have never happened in the history of the world, so there's always that.

    Quote Originally Posted by Jamie Crawley

    According to a document filed March 5, since October 2017 defendant Shawn Cutting represented himself as an experienced financial adviser to raise funds from over 450 investors.

    Having no such experience, in fact, Cutting used the $6.9 million to purchase cars, improve his home and pay for his daughter’s wedding.

    He also paid hundreds of thousands of dollars in “Ponzi-like payments” while communicating false updates to investors, often describing gains of over 50% in a single month.

    SEC Brings Enforcement Action Against Alleged $6.9M Ponzi Scheme
    A Guide to Financial Designations

    Becoming A Registered Investment Advisor

    Personal Financial Specialist (PFS) Definition
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  20. #138
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    Re: Is Bitcoin an imploding ponzi??...

    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  22. #139
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    Re: Is Bitcoin an imploding ponzi??...

    It's bad enough when journalists give targeted investing advice, much less people paying to play journalist.

    If an article is titled Scam or Legit, who exactly are they targeting?

    How does this person know Bitcoin is going to keep going up and if it is going to keep going up why would anyone need to know anything beyond buying and holding?

    Quote Originally Posted by Sponsored

    Bitcoin Breakthrough 2021 Reviews: Scam or Legit Strategies?

    Investing in Bitcoin now is a very good idea seeing how much the price of a Bitcoin has risen, and it will continue to do the same. But in order to understand how the greatest returns from Bitcoin investments can be made, one has to know more about Bitcoin and Bitcoin investment strategies, which is exactly what the Bitcoin Breakthrough 2021 program is teaching.


    Bitcoin Breakthrough 2021 Reviews: Scam or Legit Strategies? | Bainbridge Island Review

    A program for people bad at the maths?

    23 monthly installments of $10 ($230) or 12 monthly installments of $20.99 ($251.88).

    Always know your audience.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    If you're going to speculate maybe don't try to be too cute, too greedy, or too gullible.

    Quote Originally Posted by Mark Prvulovic

    Bitcoin Revolution is an automated trading system that claims to use sophisticated trading algorithms to generate extraordinary gains. These supposed algorithms and trading bots are, according to the website, capable of beating out the most sophisticated hedge funds on the market. Bitcoin Revolution also says that, with only a $250 minimum investment upfront

    Bitcoin Revolution Scam—Stay Away From This Investment Scheme

    Things generally don’t turn out well when a social media ad from a company you’ve never heard of invites you to “make money fast.”
    ’Double your money’ Bitcoin scams are appearing as social media ads | The Star


    The technique includes the breakup of URLs in a way that the Twitter‘s advertisement fraud detection algorithms cannot distinguish them.
    Bad actors are leveraging social media ads to promote cryptocurrency scams and giveaways / Digital Information World
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    It's never nice when you lose twice.

    4 Guaranteed Ways to Recover Scammed Bitcoin Stolen Cryptocurrency Funds Lost to Binary Options Forex

    Quote Originally Posted by Negative highlights brokercomplaintalert.com Scamadviser

    The identity of the owner of the website is hidden on WHOIS

    The age of this site is (very) young

    The Alexa rank (how much traffic) is rather low

    This website has a lot of reviews while being very young

    brokercomplaintalert.com Reviews | scam or legit check
    Quote Originally Posted by Negative highlights atriumforensics.com Scamadviser

    Negative highlights
    The contact email address used is free
    The technical contact email address used is free
    The contact email for the administrator is free

    This website does not have many visitors
    We detected cryptocurrency services which can be high risk

    Anonymous payment methods were identified on this site

    https://www.scamadviser.com/check-we...mforensics.com
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  25. #142
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    Re: Is Bitcoin an imploding ponzi??...

    Both are interesting articles.

    I question the immunity to inflation trope often trotted out about Bitcoin only to say that remains to be seen. Free money perverts supply/demand for assets and many people chase what's going up simply because it's going up. Except where they can substitute. The steaks I had normally been buying 4 for $50 were suddenly 4 for $70 last week, or as I told Mrs. Ribshaw enjoy your chicken.



    Quote Originally Posted by Lihan Hyunwoo Lee
    No wonder investors are running to it. It's not only a store-of-value asset with immunity to inflation - the current volatility is producing high returns for those who are more risk-tolerant.

    The report makes a note that despite incredible excitement and investment in the space, half of the investors we surveyed still believe Bitcoin is a Ponzi scheme.

    Access Denied
    Quote Originally Posted by David Llewellyn-Smith
    So, my question today is, is a new high for BTC signaling a turn in Fed posture even though gold is not? Or, is BTC ignoring all market signals and simply inflating because it can, as the first-ever global ponzi scheme might?
    Bitcoin signalling dovish Fed turn or noisy ponzi blow-off? - MacroBusiness
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  26. #143
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    Re: Is Bitcoin an imploding ponzi??...

    From a scam standpoint I find the crypto space fascinating, if for no other reason than the names alone.



    According to MyCrypto.com, the malicious entity that executed the Roll hack is now sending hundreds of ether (ETH, -4.96%) to Tornado Cash, an Ethereum-based privacy tool used by hackers to cover tracks and withdrawn funds.
    Social Tokens Crash After Reported Hack at Roll - CoinDesk

    "A number of DeFi projects are under DNS hijack attack. Pancake, Cream, etc. Please be VERY VERY careful and not use them until they recover the situation," Binance CEO Changpeng Zhao warned.
    Another DeFi Hack: PancakeSwap, Cream Finance Websites Compromised
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    This makes buying a cup of coffee nonsensical.

    5 Legal Considerations When Dealing in NFTs


    Pulled from the article above. Scam promoters often use wordplay to claim why something isn't a security and doesn't have to be registered.


    The "Howey Test" is a test created by the Supreme Court for determining whether certain transactions qualify as "investment contracts." If so, then under the Securities Act of 1933 and the Securities Exchange Act of 1934, those transactions are considered securities and therefore subject to certain disclosure and registration requirements.

    It is an investment of money
    There is an expectation of profits from the investment
    The investment of money is in a common enterprise
    Any profit comes from the efforts of a promoter or third party


    What Is the Howey Test? - FindLaw
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  32. #146
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    Re: Is Bitcoin an imploding ponzi??...

    Why a 17 year old with seemingly mad computer skills would have chosen this path or haircut is beyond me.

    Tampa Twitter hacker agrees to three years in prison
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    Discrepancies??? Seriously??? Half a century balancing a checkbook and the only discrepancies I've ever found have been transposition errors on my part.

    iCE3 Exchange Halts Bitcoin, Litecoin Withdrawals After ‘Discrepancies’ Found

    Just another sourpuss.

    BofA Slams Bitcoin: 'Impractical As A Store Of Wealth Or Payments Mechanism'

    It's hard to say what if anything this means. One conclusion I have drawn from all this is if I held a significant amount of crypto I would spread it among about 20 wallets. Discrepancies FFS!!!

    Bitcoin’s ‘Rich List’ Shrinks Amid Continued Price Rally

    More sourpusses.

    Investopedia Survey Suggests Investor Concerns of Bitcoin Bubble, Says Editor-in-Chief

    A volatility index of 100 implies the market thinks BTC can double or go to zero, should be a wild year.

    Bitcoin Volatility Index ‘BitVol’ Makes First Trade

    Wall Street articles convenient timing or coincidence, you decide.


    Morgan Stanley Sees Cryptocurrencies on Path to Investable Asset Class
    https://finance.yahoo.com/news/morga...164014093.html

    Morgan Stanley to Offer Clients Exposure to Bitcoin Funds:
    https://finance.yahoo.com/news/morga...151636040.html
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  36. #148
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    Re: Is Bitcoin an imploding ponzi??...

    Can anyone in the government do the maths anymore?

    Quote Originally Posted by Damanick Dantes

    In this week’s auction, the winning bidder got the bitcoin for $53,104.

    According to CoinDesk’s Bitcoin Price Index, the cryptocurrency never fell below $54,200 on Wednesday, and it has since jumped to about $59,000.

    The government told the newspaper the auction commanded a premium relative to the market price.

    The US Government Sold Some Bitcoin – And the Winning Bidder Got a Bargain
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    I had not thought about Check kiting - Wikipedia in years.


    Quote Originally Posted by Colin Harper
    However, he added, the process Filecoin developers gave to exchanges to verify deposits includes a critical flaw that allows users to deposit the same coins repeatedly.

    $4.6M in Filecoin ‘Double Deposited’ on Binance; Exploit Open on Other Exchanges
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    There are of course plenty of crap investments promoted by licensed individuals. That said, if unlicensed Uncle Fred is trying to get you into an investment he heard about on Facebook pass on it just like his cat hair laced mashed taters.

    Quote Originally Posted by Jeff Benson
    According to the complaint, Reynolds, the director of defunct trading firm Control-Finance Ltd., convinced over 1,000 clients (at least 169 of them US residents) to cumulatively deposit 22,858 Bitcoins between May and October 2017. At the time, those tokens were worth $143 million (hence the $143 million in restitution) but are now worth closer to $1.3 billion.

    Customers transferred Bitcoin to Control-Finance, believing that its “experts” would trade it. In addition to profits, they were also promised rewards for referring other clients.

    Bitcoin Fraudster Ordered to Pay $572 Million for Ponzi Scheme - Decrypt

    Reynolds has not been in touch with US authorities, who even resorted to placing ads in a British newspaper in 2019 asking him to appear. His current whereabouts is unclear.

    At Bail Hearing In Bitcoin Fraud Case, Prosecutors Say N.H. Libertarian Activist Poses Flight Risk | New Hampshire Public Radio
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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