Bitcoin, and Ponzi? China joins the club of crypto opponents

A real anti-crypto accusation While the market for cryptocurrencies is in free fallFor months, and the bad news is connected like hailstorms this June, some find reason to rejoice. The rulers of the Middle Kingdom have apparently decided to go on a crusade against Bitcoin & Co., they fire sharp ammunition at the crypto ambulance. South China Morning Post had opened hostilities last week. It’s now the turn Folkets Dagblad to try to complete what is left of hope in the Chinese crypto community. Do you hate Bitcoin and cryptocurrencies? Know that you are not alone!

The best of the worst in the field of cryptocurrency in a few lines

This article from Folkets Dagblad is a gem of journalism published on June 26 on its digital version. It is written by 2 leaders of Blockchain service network (BSN), Shan Zhiguang and Heyifan. They are the chairman and CEO of the project, respectively. BSN is a national blockchain project developed and managed by the central government. In this article, the authors remind us how risky and dangerous crypto is.

We start, of course, with a reminder fold LUNA which explains to us how awful everything was a Ponzi. And the example of this random participant on Twitter does “gives me tremors” :

“It took him a year and a half to convince his wife to put their entire $ 1 million fortune in LUNA. Result: he lost 98% in a few days and he does not know how to meet his wife and his future life. »

We then proceed with the critique of what they call “X-to-earn” that invades all aspects of our daily lives. Games to earn, write to earn or even move to earn would be:

“(…) complete fraud, 100% risky speculation and nothing but phishing. (…) These operators have lost their humanity to make money.”

But now for the main course, with Bitcoin on the grill!

Bitcoin and cryptocurrencies would be a giant Ponzi pyramid

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Bitcoin: “the largest Ponzi scheme in human history”?

So let’s start with countries such as salvador, who decided to make it a legal tender. In the interview with the Coin Telegraph, the authors are not kind to the leaders of these countries:

” [Ces pays ont] seriously need a basic education in finance. (…) They endanger entire countries unless their original intentions are (…) to deceive their citizens. »

For these journalists of today, cryptocurrencies would be:

“Ponzi schemes with different levels of risk depending on market values ​​and the number of users. (…) I do not touch them, and I will not touch them in the future. Even if they are regulated, because I do not consider them to have any value. »

To support their statements, they therefore appeal to major historical critics of Bitcoin, such as Bill Gates Where warren buffett. The latter actually said that Bitcoin should be avoided as “Rat Death”. It is also quoted Charlie Munger :

“In my life I try to avoid stupid and devilish things and especially to make myself look bad … and Bitcoin manages all 3.”

Do not throw anymore! Mass has been said. Word “Ponzi” has been used about 20 times in the article. And we will spare you the harsh comments about Elon Musk and Dogecoin, or even in the NFT market, which – you have understood – is of course also a Ponzi pyramid. But let’s end on one positive key, because there are definitely some things that find favor in their eyes in the crypto ecosystem. They are regulated stable coinssuch as USDC or USDT, and of course technology blockchain to set up their digital yuan.

“Buy when there is blood in the streets”: The crypto ecosystem is in revolt despite China’s decision to ban Bitcoin … and if you take advantage of this unique opportunity to buy bitcoin with our affiliate linkbefore everyone makes sense?

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