[uncensored-r/Bitcoin] Do you know what a Ponzi scheme is? The real reason China banned exchanges
The following post by nolimitnp is being replicated because the post has been silently greylisted(for 0.7 hours). (It was approved by the mods at: 2017-09-17T00:25:54.000Z) The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/70j4b5 The original post's content was as follows:
This is extremely important for your financial future so I ask you take this extremely seriously with an open mind. Firstly, KNOW AND UNDERSTAND front to back, top to bottom exactly what a Ponzi scheme is or don't even bother reading further. I recommend this video or if you don't click links, go to YouTube and search for "money week Ponzi scheme". If you can watch this entire video start to finish without thinking "holy shit, you have my attention" then you deserve to lose your money. https://www.youtube.com/watch?v=jBGgHT2UT7o&t=18s Secondly, in absolutely zero way am I saying cryptocurrency is worthless. It clearly has real world value. In hindsight, mixing cryptocurrency with the very thing it was designed to replace (fiat) was a huge mistake. The overwhelming majority of Bitcoin in existence was obtained for essentially nothing by miners and early adopters for mere pennies. Until mid 2016, the price had remained mostly steady, although still volatile. In just the last year Bitcoins value has increased from $500 to almost $5000. But what is causing the price to rise so quickly to there incredible levels? You want to believe its because more people are entering the market, but that's not how it works. Cryptocurrency is unregulated, meaning it's completely possible for there not to be a market at all, but a market simulation. I'm telling you the market IS a simulation. People are seeing the consistent price increases in pretty much everything and don't want to miss out, so more and more people are buying in. We all have dreams of Bitcoin hitting $100,000 or higher. Then we've got people like Roger Ver, Jeff Berwick, Andreas M. Antonopoulos touting Bitcoin as the savior of humanity, which not only convinces more people to buy in, but also hold. And to be fair, maybe Berwick and Andreas are as naive as we are, but they were in early. This creates market liquidity. Meanwhile, they can sell their bitcoins obtained for mere pennies for ungodly profits. As long as the price continues to increase, people aren't converting back to fiat and new people will continue to buy in. Like on this recent dip, I always hear "buy on the dips". Suckers!! At some point, the "market" will decrease significantly causing millions of people to sell and attempt to convert back to fiat. But there won't be any liquidity left as the original investors have been cashing out. New investors giving their money to old investors. It's a classic ponzi scheme, the largest in history. So you have a $1,000,000 portfolio and understand it's a ponzi scheme. Oh shit, time to sell!! Well, good luck. Coinbase withdrawal limit is only $10k per day. There just isn't an easy way to convert large amounts, a fact that is always overlooked. The fact of the matter is most people have already lost most of their money. They just don't know it yet. Poloniex updated their ToS to include the inability to be involved in class action lawsuits the day before Bitcoin forked. Why, coincidence? If you went to sleep with 1 BTC @ $2800, you woke up with 1 BTC @ $2800 and 1 BCH @ $400. $400 of "free money". From where? Coinbase, one of the few exchanges that allows conversion back to fiat, refused to release their customers BCH until January. Why so long? Because that $400 doesn't exist, they don't want anyone selling, for obvious reasons. If Roger Ver is Satoshi Nakomoto he probably has more than 1,000,000 BTC, so he had a $400,000,000 pay day, just for owning it. Makes more sense as to why he'd push so hard for BCH now doesn't it? And you better believe he's already cashed out. But have any of you? Poloniex refused to release their BCH until August 14th, my best guess being they were waiting for someone to question where the $400 came from. Seriously, am I the only one questioning it? We dodged a bullet. And remember, that $400 from nowhere is also sloshing around in other cryptocurrencies. Ethereum will fork not once, but twice the end of this month. Why twice? Knowing what you know now about Bitcoin Cash, makes a little more sense doesn't it. Roger Ver has parts in Bitpay, BitStamp, Kraken, Shapeshift, Purse, Ripple...everything Bitcoin. He's, well, Bitcoin Jesus. But he'd be prosecuted and hung by his balls, right? Well, not exactly. https://qz.com/221598/marriott-is-helping-bitcoin-jesus-sell-cheap-citizenship-in-the-caribbean/ The only reason I know is because stole $17k that would be $250k today from me and I've been trying to prove it ever since. Yeah I went a little bigger, huh? We've been had fellas. Sure, laugh, but you better pray I'm wrong. BTC: 1NHmYxrnxiBkGjhEed3VPso3oY9mnbuqSx ETH: 0xb6F4a3974Da40Ba92377bF8E61C3E8323f1ba326 We still have until at least the Ethereum fork, unless word gets out sooner. Jmbullion.com accepts bitcoin for gold and silver. Nope, not accepting comments. Ya'll are mean as fuck. STOP SHOOTING THE MESSENGER, I did not cause this, I'm trying to help you.
Operation Mockingbird - remember that time when Bitcoin was peer-to-peer electronic cash?
Do you remember what it was like in 2013 and earlier when Satoshi / Gavin were running the project and the goal was more users, merchants and scaling? Do you remember that time when the exciting projects were getting merchants to accept Bitcoin for payments, wallet apps, and maps of businesses and people that used and accepted Bitcoin as money? Do you remember that time when the MIT digital currency initiative (sponsored by Jeffrey Epstein and his mysterious intelligence agency "investment money"), MasterCard, and Western Union all invested in Blockstream who suddenly consolidated control of the Bitcoin development group, smearing and attacking anyone who wouldn't get on board? Remember that time that Theymos, who had been pro-Bitcoin scaling suddenly had a personality change and started censoring and banning anyone who talked about scaling bitcoin from the two largest discussion platforms, bitcoin talk dot org and r\bitcoin? Remember that time when fake Bitcoin celebrities with marketing teams behind them started appearing out of nowhere with the view that we shouldn't increase the capacity of Bitcoin so more people can use it? Remember that time that countless NPC's changed the community's narrative from peer-to-peer electronic cash with the goal of merchant and user adoption to "digital gold" or some kind of digital tulip ponzi scheme that's too expensive to use for day-to-day currency? Remember that time when the miners, now consolidated in CCP controlled China, suddenly voted against their own best-interests, and decided to run software that rate-limits Bitcoin to 5 transactions per second, despite overwhelming community opposition? Pepperidge Farm remembers. This is Operation Mockingbird folks, just a 21st Century version of it. So was SegWit, BSV/CSW, and now this IFP bullshit from Amaury.
Local media in China reported the capture of 27 alleged “core” members of the PlusToken Ponzi scheme directly related to the platform and 82 “key” members. The detainees are connected to a multinational organization called MLM. According to reports, the network has been “completely destroyed”. This could mean that the Chinese police have ended the biggest Ponzi scheme in the ... CHINA’S MINING DOMINANCE. A new report has found that nearly 65% of the bitcoin hashrate originates from China, meaning that China has dominated bitcoin mining more than any other country this year. PlusToken was a classic Ponzi scheme similar to BitConnect or countless others. The founders promised monthly returns from 9 to 18 percent, justified by a combination of alleged trading and mining revenue. It worked similarly to an ICO, as the fraudsters sold PlusToken for Bitcoin, Ethereum, EOS and others. PlusToken was able to siphon at least $2 billion in cryptocurrency, making it one of ... China arrests 109 members of Bitcoin’s biggest Ponzi scheme Authorities in China arrested the alleged architects behind the PlusToken project, bringing an end to the biggest Bitcoin scheme in history. By Shaurya Malwa. 2 min read. Jul 30, 2020 Jul 30, 2020. Bitcoin . China made arrests in connection with the PlusToken scheme today. Image: Unsplash . In brief. Authorities made 109 arrests in ... Local police have busted Wotoken, China’s second ten-figure crypto Ponzi. The scam, Wotoken, took in roughly $1 billion worth of crypto at current prices from over 715,000 victims. One of the scam’s core operators is purportedly linked to PlusToken — a multi-billion Ponzi that is believed to have impacted the price trajectory of Bitcoin ( BTC ) on numerous occasions throughout 2019.
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