Bitcoin Price and the Fortune at the Bottom of the Pyramid
The Bitcoin price is rising in sustained algorithmic bullish trade. Manual sellers appear to be entering the market at the $340 Bitstamp price level, and technical analysis evaluates the potentials on the price chart. Today's feature looks at the "unbanked poor" that is now becoming a talking point amongst Bitcoin entrepreneurs. Bitcoin and the Fortune at the Bottom of the Pyramid. Global Economy. Bitcoin Price Analysis. Summary. Comments. Bitcoin Price and the Fortune at the Bottom of the Pyramid. The idea that Bitcoin will "bank the unbanked poor" is being mentioned with increasing....
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Chinese authorities in Rong County recently said they have prosecuted eight individuals accused of being the masterminds behind the Magic Data Chain (MDC) pyramid scheme. The pyramid is thought to have handled transactions with a total value of over $147 million.
Virtual Currency Pyramid Scheme
Authorities in China’s Rong County, Zigong City, recently prosecuted eight people accused of orchestrating the MDC virtual currency pyramid scheme, a local report has said. According to the report, the prosecution of the case was handled by the Rong County People’s....
The Central Bank of Russia (CBR) has identified 146 financial pyramid schemes in only six months this year. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining operations. Pyramid Schemes Thrive Amid Rising Investment Demand, Bank of Russia Says The number of financial pyramid scams uncovered by the CBR between January and June 2021 is 1.5 times higher compared to the same time period last year, the regulator announced this week. The financial authority attributed the spike to increased activity of “unfair....
Dan McCrum was only mostly wrong in his factual assertions about Bitcoin recently. It was a bit sad to see someone demonstrate such little actual understanding, but deliver such an offensive opinion about Bitcoin. To his credit, McCrum did interview at least one mining pool operator for his article, but nevertheless managed to even get that person consider the idea that Bitcoin is a pyramid scheme. This idea has been debunked for so many years that it's irrelevant. But here we are: Bobby Lee, head of BTCC, the largest bitcoin exchange in China, argues its use for everyday transactions....
Russian law enforcement agencies have gone after the organizers of a large crypto pyramid which has been promising extraordinarily high returns. The Ponzi scheme is being unraveled after a similar project defrauded thousands of investors in Russia, the region, and far beyond. Police Find Crypto Pyramid Organizers in Dagestan, Russia Officers from the Federal Security Service (FSB) and the Ministry of Internal Affairs in the Russian republic of Dagestan have identified persons suspected of organizing a major financial pyramid offering victims profits of up to 500% per year on their....
People’s Daily, the most popular newspaper in circulation in China, has recently published a story about a virtual currency pyramid scheme, named EGD. The pyramid scheme involved over 500.000 members, and 1.09 billion Chinese yuan ($1.5 billion). EGD even had a clone named Wanfubi, with over 120.000 registered members, and 1.2 billion yuan ($173 million) involved. At the end of the operation, 77 suspects were arrested, and $121 million were frozen. The pyramid scheme was first discovered by the Xuzhou Department of Public Security (DPS) back in March, 2016. The scheme was launched back in....