Tag: Ponzi Scheme
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Executives from China Blockchain Alliance: Virtual currency is the “largest Ponzi scheme in human history.”
In a recently published op-ed, the chairman of China’s Blockchain Service Network (BSN) Development Alliance, Shan Zhiguang, and a colleague insisted that cryptocurrencies are “unquestionably the largest Ponzi scheme in human history.” However, they have stated that “because of virtual currency, the value of blockchain technology should not be ignored.” Virtual currency is “unquestionably the…
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Bitcoin Price Is ‘Like MMM Ponzi Scheme’: Russian Economic Minister
The head of Russia’s Ministry of Economic Development has compared Bitcoin to the infamous Ponzi scheme MMM. Speaking at the Federation Council, Maksim Oreshkin repeated the theme of “unqualified investors” buying into cryptocurrency being “dangerous.” “Because if you look at the dynamics of the Bitcoin price, they’re very like the price of MMM,” he said quoted by local news…