After losing Money I could not afford for the third time, I have decided to enjoy my retirement and give up trying to earn a living from Bitcoin. It is without a doubt a very clever Ponzi scheme and the only people to make money, are as usual the rich fat cats. In and out before the crash and believe me it will crash. Any business that relies on recruiting people to bring in money with no real product, is a pyramid scheme and has long been illegal in the UK. For some reason it is being allowed to flourish here. Its like the old american gold rush and the workers will lose all their money while the suppliers of the picks and shovels Read companies that handle the financial transactions who now replace the original suppliers of picks, shovels and supplies. I will give some examples in another post tomorrow and name names.
So to carry on from the last post on the growing Bitcoin industry or even the whole Crypto Currency industry. I lost money with one company called Bitfundza and then again with USITech which looking back I now realise are thinly disguised Ponzi scams – Join free here and download the ebook-joining is FREE and all downloads are FREE. http://www.scam-busters.co.uk/books/the-history-of-the-ponzi-scam/
So are they Ponzi scams or Pyramid schemes? a bit of both I believe and both are criminal by virtue of the fact that they all rely on recruiting new people and getting a continual supply of money coming in? No incoming monies, no business. But the biggest con men are the companies that are in the middle and act as payment gateways. Like Coinify, blockchain, crypto coin and bitpay etc, there are many more, to many to list here but will all be on scam-busters site over the next few days. Any one who would like to comment can guest post on http://www.scam-busters.co.uk/news/submit-guest-post/ no need to join to do that. See below a genuine bill from Coinify that shows out of 60 euros paid in, only the equivalent of 20 euros is left? the other 40 euros is what they take as their commission? over 2 thirds and this was on a deal that wasn’t even authorised?
Coinify Aps
Herlev Hovedgade 15B
2730 Herlev
Denmark
Registration number: DK35847995
You Pay
EUR 60 EUR
Payment fee 1.8 EUR
Total Payment Cost 61.8 EUR
You Receive
BTC Order 0.00458569 BTC = 60 eur
Bitcoin transaction fee 0.00303872 BTC = commision just under 2 thirds
BTC Total 0.00154697 BTC = what you are left with
You do the maths? More tomorrow but any questions email: [email protected]. especially if you have lost money as well. I feel a book coming on
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