The Capital Control Starvation Scheme
The deadly combination of tight capital controls and inflation slowly starve the people’s life savings. Luckily, Bitcoin can help escape from capital destruction. Capital controls are a structure used by governments to restrict, or prevent, the flow of capital out of the country. China, for example, recently tightened regulations on moving money out of the country when faced with a devaluing yuan. Unfortunately, when paired with a penchant for inflating the national currency, capital controls can have a devastating effect on the long-term wealth of the people. The people are forced to use....
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Ponzi scheme: A fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Many of the under-informed, the under-educated, and the under-control masses have lobbed this parting shot at Bitcoin over the years. People tend to fear things that they don't understand, and will hide behind that fear with blind attacks that sound right, but are just as ignorant, if not more so. Bitcoin clearly does not fall into the definition of a "Ponzi....
16 million people in Yemen — including 400,000 children under the age of five — already face food supplies at critical levels. A Redditor living in Yemen’s capital city of Sana'a claims to be using cryptocurrencies to buy food packages for families unable to access supplies during an ongoing civil war.According to a Thursday Reddit post from user yemenvoice, the Yemen national has raised roughly $12,000 in crypto donations to be used towards fighting starvation in the Middle Eastern nation. They claim to have provided 15 families with flour, rice, oil and beans and hope to reach 30 more in....
“Capuci operated a fraudulent investment scheme and did not use investors’ funds to mine new cryptocurrency, as promised, but instead diverted the funds to cryptocurrency wallets under his control,” the DOJ stated. The CEO and co-founder of crypto mining and investment platform Mining Capital Coin (MCC) Luiz Capuci Jr. has been indicted by the Department of Justice (DOJ) for “allegedly orchestrating a $62 million global investment fraud scheme.”The DOJ is charging Capuci with conspiracy to commit wire fraud, conspiracy to commit securities fraud, and conspiracy to commit international....
To some people, the question will always remain why Bitcoin is a better alternative compared to government-controlled fiat currencies. While there are many answers to that question, the most obvious reason is to circumvent capital control and a collapsing fiat currency. Throughout the years, Bitcoin has provided exactly that to citizens in need of moving funds out of a country during economic woes. After all, Bitcoin is financial freedom, whereas fiat currency is a master-slave relationship. In the Western world, capital control is more exception than a rule, although the Greek population....
For example, if a foreign company wanted to export items to China, they will not be able to do so due to capital control. The financial turmoil in China is far from over by the look of things, and tighter capital control over foreign companies in the region are being enforced. This has a crushing effect on Japanese companies, as their Chinese subsidiaries struggle to get payments across. As it becomes harder for the Chinese to move funds in and out of the country over the past few months, all companies dealing with Chinese subsidiaries will be affected at some point. For Japanese firms,....