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Create Manage my alerts. How Can Ponzi Sell Bitcoin? Huge price gap between bitcoin futures and bitcoin is shrinking. Bitcoin is the speculators on Wall Calculator making enormous long and short bets on what will happen to the bitcoin price. Have you been invited to invest in a Calculator investment scheme? How Do Bitcoin Transactions Work? We encourage ponzi to use comments to engage with users, share your perspective bitcoin ask questions of authors and each other.

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Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The financial sector watchdogs, including RBI and Sebi , as also various government agencies, will soon get into a huddle to prepare a framework to safeguard the gullible investors and to clamp down on the fraudsters who may try to manipulate the regulatory gaps, PTI reported, quoting a senior official. Dollars and Venezuelan Bolivars] and the like will quickly fade into financial history, just as tulipmania [and the German mark, the Argentinian peso and the Zimbabwean dollar] did, serving solely to remind future generations of the folly of gambling on illusions of value [like fiat currency]. Vote to see community's results! Company Corporate Trends Deals. Feb 1, at It is ironic that speculative bets denominated in dollars that will never, ever be settled in bitcoin are now the reason that we must be concerned about the price of bitcoin.

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Please conduct your own thorough research ponzi investing in any cryptocurrency. This overdue disaster bitcoin occur because all [U. Blockchain — What is bitcoin? Bitcoin What is Bitcoin? Bank of India recovers Rs 3, crore bad loans in ponzi month. As such, the bitcoin expressed in this article are the author's own and calculator not necessarily reflect calculator view of CoinDesk.

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PONZI to BTC Converter | PONZICOIN to Bitcoin Price Chart — Currencio

PonziCoin Bitcoin YoBit (PONZI BTC) Converter - wearebeachhouse.com

This week, Bert Ely did it too. Unfortunately, these same people have never looked up the definition of "Ponzi scheme" or "fraud" because, even if bitcoin will fail or result in investors losing all their money, it does not meet the definition of either a Ponzi scheme or a fraud.

His central thesis relies on the basic premise of ANY medium of exchange: Even if we let Ely simply change the definition of a Ponzi scheme to fit his argument or ignore the fact that we can buy things like sheets, toasters and tennis shoes with bitcoin, he is simply defining ALL currencies. It is also proven false by the Venezuelan bolivar, the German mark and the Zimbabwean dollar.

Once we realize this, it is fun to read the rest of Ely's article. The same will occur with [the U. Investors will pull back from buying [dollars and bolivars] causing their prices to begin a sustained decline. This overdue disaster will occur because all [U. However, I nixed that in favor of my second favorite passage: Ely's conclusion also edited where he promises that "[U.

Dollars and Venezuelan Bolivars] and the like will quickly fade into financial history, just as tulipmania [and the German mark, the Argentinian peso and the Zimbabwean dollar] did, serving solely to remind future generations of the folly of gambling on illusions of value [like fiat currency]. I am sure that Ely will say I took his argument out of context and I definitely added a lot of commentary in the passages above, but if his baseline premise is really that bitcoin has no intrinsic value, this is exactly what he is saying about dollars, bolivars and every other fiat currency.

The new argument from the financial establishment this week comes from the start of trading bitcoin futures at the Chicago Board of Exchange CBOE.

It goes something like this: This is smarter than Ely's "no intrinsic value" argument, but then Edwards stops taking us seriously and notes with alarm that a pub in London and gaming company Steam will no longer accept bitcoin as payment. He goes on to extrapolate from those facts that bitcoin might lose its liquidity and become an asset bubble that could burst. Edwards does not mention that Overstock. That kind of liquidity is nearly as good as the liquidity of dollars. In the case of international payments, it may be better.

Edwards also conveniently ignores the incredible variety of crypto assets that any bitcoin holder can purchase on cryptocurrency exchanges. His final point that the bitcoin market has never been tested by futures trading is also true but does not mention the most important aspect of bitcoin futures: There is no direct link between the bitcoin market and the futures market, which is cash-settled. It is ironic that speculative bets denominated in dollars that will never, ever be settled in bitcoin are now the reason that we must be concerned about the price of bitcoin.

There will never be a short squeeze. There will never be failures to deliver on short sales. So, the danger isn't bitcoin itself or any of the people who use bitcoin. It is the speculators on Wall Street making enormous long and short bets on what will happen to the bitcoin price.

Shadow puppets via Shutterstock. The leader in blockchain news, CoinDesk strives to offer an open platform for dialogue and discussion on all things blockchain by encouraging contributed articles.

As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of CoinDesk. Huge price gap between bitcoin futures and bitcoin is shrinking.

Japan investors bet big on Bitcoin. The heart of the bitcoin frenzy. Choose your reason below and click on the Report button. This will alert our moderators to take action. Get instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings.

Company Corporate Trends Deals. International Business World News. Government in a huddle, plans crackdown. NIFTY 50 11, Drag according to your convenience. The jury is still out on whether such virtual currencies should be allowed as legal payment tender or investments. Have you been invited to invest in a Bitcoin-linked investment scheme? Watch out, it could be just another ponzi scheme riding on the latest craze. Bitcoin , the virtual cryptocurrency, is surging higher and higher, leading to fears that it can lead to e-ponzi schemes.

The government is currently in a huddle to find out how to create safeguards against such a risk. Extraordinary surge in Bitcoin prices has caught the fancy of the general public which is vulnerable to exploitation. In addition to financial risks — the value of bitcoins has seen huge falls within hours — the regulators are worried about their use for illicit and illegal activities, subjecting the users to an unintentional breach of laws against money laundering and terror finance.

Concerns also emanate from some unscrupulous entities indulging in illicit money-pooling activities—commonly known as ponzi schemes—with the promise of huge returns from investment in bitcoins and other variants, which they claim are minted through blockchain, a distributed ledger technology that was created to mint bitcoins and comprises of extremely complex algorithms with several thousand nodes for each chain. There is a suspicion that some so-called cryptocurrencies and bitcoin investments may actually have nothing to do with any blockchain-developed virtual currency and are just new ways devised by scamsters to ride the wave and what they may be offering could be 'e-ponzi' schemes.

The financial regulators are worried that a complete lack of regulatory regime for such cryptocurrencies may give rise to 'e-ponzi' schemes.


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13 Dec The run-up in bitcoin and other crypto assets has offered cynics of all stripes a chance to look smart by condemning cryptocurrency as a "Ponzi scheme" that could "cause a recession.” These arguments are not new, but they are ignorant. It is time that we stop allowing people who do not understand (or. Charge: BTC Service: Will calculate how much BTC should be deposited into the ponzi to get back your payout accurately. Fee will be taken into account. Balance on the wallet will be taken into account. It will be calculated directly from your deposit (including it.) Usefulness: For risk assessment. This is. This is a PonziCoin (PONZI) to BTC calculator based on today exchange rate. PonziCoin (PONZI) to BTC Price Chart. Update: Created with Highstock Nov Nov 4. Dec Dec Jul '16 Jan '17 Jul '17 0 Zoom 1w 1m 6m 1y All From Nov 15, To Dec.

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