Thursday, April 11, 2013

Just last week, someone asked me about BITCOIN. I told them it was a ponzi scam, just like pump and dump penny stock swindles

the pump and dump scam in play and everytime

And sure enough, that's what happened yesterday, when the whales sold off erasing ONE BILLION DOLLARS OF VALUE from bitcoin. Those who didn't see this coming instantly saw their investment evaporate.

And that, folks, is how stock swindles and ponzis essentially end up working out.

Bitcoin was and is never meant to be a realistic currency replacement for the Fed Notes. Won't happen. Just like liberty dollars a few years back, it's a dead-end the network allows, (to function as a lightening rod) just to see who is disgruntled enough to part with hard cash to change things. Then they know. Who you are that is.

Then they take that hard cash when the network whales bale out cleaning up all your millions of dollars for themselves and their friends.

UPDATE: Bitscam loses 75% of its value in 48 hours; a complete crash and wealth transfer.

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