Bitcoin is the total opposite or a Ponzi scheme- here’s why


What is a ‘Ponzi Scheme’, you ask?

“A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers. For both Ponzi schemes and pyramid schemes, eventually there isn’t enough money to go around, and the schemes unravel.” — Investopedia

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Bernie Madoff – Secret $9 Billion Hidden From Prosecutors and Police


Bernard Madoff is said to have told fellow inmates that he squirreled away a secret $9bn which prosecutors do not know about from his $65bn ponzi scheme fraud.

Bernie Madoff, who was jailed last year for 150 years after admitting to orchestrating the historic fraud, is reported to have channelled the funds to three individuals – whose identities remain unknown – shortly before he confessed to his crimes in December 2008. “I think it was personal friends,” one inmate is reported to have said.