Boris Johnson is the former Prime Minister of the United Kingdom. He called Bitcoins (BTC” “Ponzi Scheme” that has less value than Pokémon cards, collectibles he said had a wide appeal and a multi-decade history.
Johnson has written an opinion article The Daily Mail published a Friday article that started with an account of a friend giving 500 British Pounds, which is about $661 to a guy who promised to give him a job. “double his money” Invest in Bitcoins
He continued to pay for additional services “fees” Johnson claimed that he spent 20,000 British Pounds (about $26,474) on the promoter of the scam over the course of three-and-ahalf years. He was never able, however, to recover his money. This led him to suffer financial difficulties.
“He was struggling to pay his bills. He wasn’t the only one, said my friend. Other people in the neighborhood were going through the same nightmare,” Johnson then added. Johnson continued. collectible Pokémon cards Are a more tradeable asset than BTC?
“These curious little Japanese cartoon beasties seem to exercise the same fascination over the five-year-old mind as they did 30 years ago. The kids drool over them. They boast and squabble about them.
Even if you remain pretty impervious to the charm of Pikachu, you can just about see why a decades-old Pikachu card is still a tradeable asset,” He also added.
This opinion piece sparked a storm of criticism online from Bitcoiners and executives in the crypto-industry, who refuted this article by explaining Bitcoin’s fundamental properties Arguments that fiat currencies based on debt are Ponzi schemes.
Related: Bitcoiners celebrate as the network produces its 20 millionth coin
Johnson is mocked by bitcoiners for his take.
“Bitcoin is not a Ponzi scheme. A Ponzi requires a central operator promising returns and paying early investors with funds from later ones,” Strategy co-founder Michael Saylor said Response:
“Bitcoin has no issuer, no promoter, and no guaranteed return, just an open, decentralized monetary network driven by code and market demand,” Saylor continued.
Pierre Rochard is the CEO of The Bitcoin Bond Company. The company offers BTC-backed products. “giant Ponzi scheme” financed by debt.
Magazine: Bitcoin’s ‘narrative vacuum,’ Ethereum now inevitable: Trade Secrets
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
