Bitcoin, while not officially a product of traditional Wall Street, is a pyramid scheme. A fraud. But it is best described as a “confidence game.”
I’ve been calling it a “bitcon” for a long time. And now the pyramid seems to be collapsing because fewer and fewer people have confidence that the price of this inherently worthless “cryptocurrency” is going to continue to rise.
Eulogy made by John Crudele
Big bankers (we know who they are) bought BTC and are now holding it for it to collapse. Scumbags calling it a “Ponzi” scheme? The traditional fiat curency with no Gold backing and credit card companies ARE the Ponzis!
John Crudele is terrible stupid !
You must be looking at the past 12-18 months. Look at the history. How many times has BTC lost 60-90% of it’s value only to start at the new higher “low” and take off again? 5 or 6 now. Bigger picture. Scheme? Scam? Too bad you didn’t get in when you wished. Not a good reason to create more FUD. BTC has “died” over 300 times. Crypto isn’t going anywhere aside from up and down.
Got any facts there, bro?
or just bitching cause you didn’t get in on ground level?