Bitcoin, Ponzi? China Joins Cryptocurrency Critics Club

A real indictment of anti-crypto – While the market Cryptocurrency he is in free fallFor months and bad news connected like hailstorms in June, some find reason to rejoice. It is clear that the rulers of the Middle Kingdom decided to wage a crusade vs Bitcoin & Co.They fire live ammunition at the encrypted ambulance. South China Morning Post Hostilities opened last week. Now it’s your turn People’s Daily newspaper To try to complete the remainder of hope in the Chinese crypto community. Do you hate bitcoin and cryptocurrency? Know you are not alone!

The best of the worst cryptocurrency in a few lines

This article is from People’s Daily newspaper It is the jewel of the press published on June 26 in its digital edition. Written by two leaders Blockchain Service Network (BSN), Shan Zhiguang And the Haivan. They are respectively the President and CEO of the project. BSN is a national blockchain project developed and managed by the central government. In this article, the authors remind us how dangerous and dangerous cryptography is.

We start of course with a reminder Dropp off color Which explains how terrible everything Ponzi was. And the example of this random participant on Twitter makes “I feel chills” :

“It took him a year and a half to convince his wife to put their entire $1 million fortune in LUNA. Result: 98% lost in just a few days, he doesn’t know how to face his wife and his future life.”

Then we continue to criticize what they call “X-to-Earn” It invades all aspects of our daily lives. Playing to win, writing to win, or even moving to earn would be:

“(…) Complete scams, 100% risky speculation and nothing more than phishing. (…) These operators have lost their humanity to make a profit. »

But now to the main course, with Bitcoin on the grill!

Bitcoin and Cryptocurrencies Will Be a Giant Ponzi Pyramid

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Bitcoin: “The Largest Ponzi Scheme in Human History”?

So let’s start with countries, like Salvador, who decided to make it legal tender coin. In an interview by Coin Telegraph, the authors are not very kind to the leaders of these countries:

” [Ces pays ont] Urgently need basic education in finance. (…) They put entire countries at risk, unless their initial intentions are (…) to defraud their own citizens. »

Indeed, for these journalists today, cryptocurrencies will be:

“Ponzi schemes with different levels of risk depending on market capitalization and number of users. (…) I do not, and will not, in the future. Even if it is regulated, because I don’t consider it valuable. »

To back up their statements, they are therefore appealing to major critics of historical Bitcoin, such as Bill Gates where Warren Buffett. In fact, the latter said that Bitcoin should be avoided like “The death of mice”. It has also been cited Charlie Munger :

“In my life, I try to avoid stupid and diabolical things and especially make myself look bad… Bitcoin does it all.”

Don’t throw more! Mass has been said. a word “Ponzi” It is used about 20 times in the article. And we’ll save you the harsh comments on Elon Musk and Dogecoin, or even on the NFT market which – I understand – is also clearly a Ponzi pyramid. But let’s finish on a positive key, because there are definitely a few things you get their eyes on in the crypto ecosystem. here they are Regulated stablecoinssuch as USDC or USDT, and of course technology blockchain for Set up their own digital yuan.

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