Ponzi schemes may not be everyones cup of tea when gambling for profits, but this type of fraud has been one of the main criminal activities that has tainted the name of Bitcoin. Ponzi schemes may be seen as a form of investment by some or a form of gambling by the majority but one fact has been cemented, Ponzis are here to stay.
Since the birth of the Ponzi scheme in Russia, which left a sinkhole of around a few million for many institutions which had been invested including banks, the Ponzi has thrived on the greed instilled in most people. However Ponzi schemes have become a particular nuisance to the health of the bitcoin community as when dealing with bitcoin many fail to realise that they are actually dealing with currency and the possibility of throwing $100 in bitcoin into a ponzi is much higher than throwing a crisp $100 bill in one.
Recent times have given rise to Ponzi schemes as the number of investment opportunities arising from the current market panic that work by using “secret methods” or are part of a “highly specialized trading” group promising returns is surprising. In recent weeks the rise of two prominent ponzis side by side has shocked and provoked many. Weekly Ponzi and CryptoDouble have become two extremely successfull ponzis with the latter on the verge of collapsing. With over 100’s of Bitcoins invested these two Ponzis have shown just of desperate some of the current Bitcoin community may have become due to the market movement.
As previously mentioned, we are the group of professional traders and skilled analysts with valuable experience in the sphere of cryptocurrency. All transactions in the cryptocurrency market are carried out according to an elementary principle: buy at a lower price, sell at a higher. And, vice versa, respectively – sell at a higher price, buy a lower. Due to the variability of the exchange rate, we make a great profit on this difference.