Shrents, the latter of whom had previously registered an operation called Business Cognition, which billed itself. Friends and family who trust you. I have not seen such Ponzi scheme yet that give away their products in such a manner. Bitcoin whitepaper, if you have read it, doesnt speak a thing about buying/selling bitcoins and neither lure investors to put their money. The problem with calling Bitcoin a Ponzi scheme. There are a couple of things I would do in this situation, firstly, I would remind your friend that a "Ponzi Scheme" was actually carried out with fiat currency, not crypto currency. It is an 8-page document explaining a solution for making a censorship-resistant digital money. What You Can Do To Not Fall For Such Schemes: Litmus Test.
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On the flip side, Bitcoin prices also fall rapidly and many people get burned due to their such speculative investment! How do they work? However, ultimately the person who benefits is the person, or the persons involved with setting up the Ponzi scheme. Pirateat40 claimed that Bitcoin Savings Trust had collected from investors roughly 500,000 worth of the currency, or around.49 million in US dollars, but not before disappearing off the face of the Web. Founders usually run away with a big chunk of money. You now have a very limited amount of time till the phone starts ringing. Youre absolutely, 100 right.
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