#DEBUNKED Bitcoin is A Ponzi Schemeby@ras
10,077 reads

#DEBUNKED Bitcoin is A Ponzi Scheme

June 19th 2021
6 min
by @ras 10,077 reads
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The most famous modern Ponzi scheme is Madoff Securities, which Bernie Madoff kept running for about forty years. Bitcoin has exceptionally high volatility and a high risk profile with frequent 50% drawdowns. The creator of Bitcoin, Satoshi Nakamoto, never promised any investment returns, let alone high or consistent investment returns. Bitcoin is treated as a commodity in most developed countries, and gains are taxable under capital gains. Most crypto exchanges are registered and compliant with that country’s regulations, such as KYC/AML guidelines. Most global banks, asset managers, and commodity exchanges offer exposure to Bitcoin.

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