Tracking bs deleted. OneCoin Scam: Investors duped of $4 billion by "Cryptoqueen" says FBI I'm still pretty sure it's all a 21st century ponzi scheme.
That was like the last decade. I thought they were shut down due to ponzi investigations back in 2019 or something like that. Is this news being regurgitated to convince us that crypto is bad?
When you trade something with REAL value, for an imaginary "currency" with no real value or backing, in the hopes of, someday, being able to trade that back, for something with real value.... ....well, I'm pretty certain our grandparents would have called those people FOOLS. And, just as predicted, they are soon parted from their money.
So, what is the solution? Sell PMs, crypto, stocks, mutual funds and hold cash in your safe? It hasn't done very well, and seems to be worth less every day. A dozen eggs was $1.39 last year, and that will only buy you 2 eggs today. Weird that people are so afraid of crypto. If you don't want it, or don't understand it, don't buy it. It's a weapon against obtrusive government. It has a place in many people's portfolios. GBDC on the other hand are evil, and pretend to be something they aren't.
I wouldn't put all the eggs in one basket. It seems it can be both used against authoritarian government and by authoritarian government. It has the potential to track bit of money spent by everyone on everything to include when and where the deal went down. As far as I know none of the ones now do that, but when the governments come out with their official globalist shrilling I'm sure it will do all that plus more along with some shit I can't even think of. I'm thinking the appeal will be, oh you didn't get your booo-sta? guess what now you're fiscally frozen till you do. Or oh you were in the same zip code as that protest? Guess what your shrilling ballance is now zero and will remain at zero till you proven your innocence/loyalty. As of last night a dozen of the cheap eggs were $3.69 here. I know that price sucks but no one should be starving to death because of it. I think it's mass hysteria coupled with some gouging, probably a lot of gouging.
I agree. Next idea I've heard is that if you exceed your personal carbon limit this year, you won't be able to spend. It can go sideways really quick. For me the appeal of Bitcoin is to exchange dollars for it today, cross a border, and have the ability to exchange that for local currency. No limits, no taxes.
Right now that's good. But all the authoritarian enthusiasts will be looking for a way to make their own block chain crypto, call it the "carbon credit" maybe, then force us all to use it. It will be like the 1930s gold confiscation. They will give you seemingly a lot of "money" for the gold, then turn around and make the money they just gave you worthless. This time people give up their dollars, gold, bitcoin, cash, guns for "carbon credits". Anyone who doesn't give up all their real money for "carbon credits" is dangerous, a conspiracy theorist and needs to be reported to local thought police.
good money will drive out the bad. always has. always will Gresham's Law: Definition, Who Created It, and Why It Works
Buy USPS "forever" stamps. They seem to go up in value, every year! It's not a fear of crypto, imho. It's an inherent mistrust. Just look at this latest schmuck, and how he was able to con so many people into trusting him, with their imaginary money. And now they're all crying, because HE was the only one who got to spend it!
That’s GBDC, Government Backed Digital Currency, which will be gladly picked up by most for convenience. They will say, “It will make life so much easier! All your account information in one place!” The next step is outlaw cash. Then frame crypto as the tool of smugglers, traffickers, and criminals. The public will beg for it to be banned.
Like I said....lack of trust. I doubt this lady will get away with it, in the long run. But you can do an awful lot of hiding, with 4 BILLION dollars! This 'Cryptoqueen' scammed investors out of $4 billion, the FBI says. Then she boarded a plane and disappeared | CNN Business
"Because criminals use it" is the undisputed all time winner for the justification to give up rights in the 20th century.
If you really think about it, the US dollar is nothing but crypto currency. It is backed by a promise and nothing more. That promise being that the US Government and the US economy will remain strong. Should all that go sideways and the currency devalue to the point where other monetary instruments with real secure backing in gold and silver become the currency of trade, the US dollar will fall by the wayside. My grandparents surrendered gold and silver for US Treasury notes when the government made gold no longer legal tender. That gold and silver coinage and those silver certificates issued by the treasury are collectors items valued far above their face value. Come a financial collapse, bartered goods and services will be the currency of the day. Gold, silver and copper may find their way back into circulation but far above the common man's level.
