Cryptocurrency Is a Giant Ponzi Scheme

Wed, 2 Feb 2022 05:02:26 +1100

Andrew Pam <xanni [at] glasswings.com.au>

Andrew Pam
<https://jacobinmag.com/2022/01/cryptocurrency-scam-blockchain-bitcoin-economy-decentralization>

"Cryptocurrency is a scam.

All of it, full stop — not just the latest pump-and-dump “shitcoin” schemes, in
which fraudsters hype a little-known cryptocurrency before dumping it in
unison, or “rug pulls,” in which a new cryptocurrency’s developers abandon the
project and run off with investor funds. All cryptocurrency and the industry as
a whole are built atop market manipulation without which they could not exist
at scale."

Cheers,
       *** Xanni ***
--
mailto:xanni@xanadu.net               Andrew Pam
http://xanadu.com.au/                 Chief Scientist, Xanadu
https://glasswings.com.au/            Partner, Glass Wings
https://sericyb.com.au/               Manager, Serious Cybernetics

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