[SEC] Ponzi schemes Using virtual Currencies - page 3.

franky1

legendary

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Quote from: Amph on January 05, 2016, 04:03:59 AM

it was said that the vast majority come from russia and their hyip site, which is strange since there the whole crypto it's banned...

its not banned in russia.
its not even banned in china

the only legislation in those countries is that basically regulated financial institutions cannot offer it as a product to customers directly or invest in it at the back end of the banks, as their regulations wont insure it..

this does not stop individuals doing their own thing

tobacco123

sr. member

Activity: 552

Merit: 250

I used to participate in one of the "bitcoin investment" with about 10k bits. I knew I was an early "investor" so was quiet happy to wait until ROI and withdraw the amount (~22k bits). The website went on for another 2 month and then disappeared. There are still a few around but I guess I already had some fun so not joining anymore.

BADecker

legendary

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Merit: 1373

You really can't blame them. The whole debt money fiat money system is a gigantic Ponzi. The reason it is near failure is that they have used up all the people, and made all the corporations, and loaned/created all the new money that they can possibly do with the idea of supporting the Ponzi.

If we don't get a lot of new people into the world to support the banking Ponzi, or if we can't borrow/create enough more money in reasonable "repayable" amounts, the fiat Ponzi will crash.

Bitcoin is getting us back to a value based system instead of a loan based system. Of course they are going to call Bitcoin a Ponzi. The more Bitcoin thrives, the closer the banking Ponzi comes to dying.

Pab

legendary

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Quote from: NorrisK on January 05, 2016, 04:25:34 AM

I see this as something positive. Everybody who has been around here long enough knows there is a multitude of scams going around, but new investors may still need to be warned.

The overall tone is also not negative about bitcoin itself, which is good.

Agree with you.I see that report positive for bitcoin.We everybody know howmany ponzi scheme use bitcoin

Looks like USA regulators are serious about btc

NorrisK

legendary

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I see this as something positive. Everybody who has been around here long enough knows there is a multitude of scams going around, but new investors may still need to be warned.

The overall tone is also not negative about bitcoin itself, which is good.

Amph

legendary

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i guess it's more easy for them to build up a ponzi using crypto, while enforcing anonimity, the same with criminal that wantonly to move funds or hacker that were never caught

it was said that the vast majority come from russia and their hyip site, which is strange since there the whole crypto it's banned...

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

Interesting perspective ..actually that never occurred to me eh

franky1

legendary

Activity: 4270

Merit: 4534

id say its actually a fair warning to investors.
the same warning they give to any investment

id say it acknowledges and legitimizes that bitcoin can be used freely by americans

its not negative about bitcoin... just who may abuse it

Quote

virtual currencies, such as Bitcoin, have recently become popular and are intended to serve as a type of money.
they may be traded on online exchanges for conventional currencies, including the U.s. dollar, or used to purchase goods or services, usually online.

We are concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure investors into Ponzi and other schemes in which these currencies are used to facilitate fraudulent, or simply fabricated, investments or transactions.

if they were negative about bitcoin they would say to stay away from bitcoin itself, or that its not to be treated like money.. rather than saying just be aware with who you transact with

Spoetnik

legendary

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FUD Philanthropist™

Released today.. Investor Alert

https://www.sec.gov/investor/alerts/ia_virtualcurrencies.pdf

So what you guys think ?

PS:
It's a short 3 page guide with little text.

EDIT:
And the "forum" they refer to is guess where ? ROFL

Topic: [SEC] Ponzi schemes Using virtual Currencies - page 3. (Read 2471 times)