Cryptocurrency is called 'the biggest ponzi scheme in history'

 The Chinese expert assesses that Bitcoin and the cryptocurrency market in general 

In fact, critics of cryptocurrencies have long considered this type of scheme to be a sophisticated multi-level scheme where scammers use funds from new investors to pay back their previous investments. Skepticism has increased sharply in the past time, after the plunge of the market, leading to the so-called "crypto winter". This term refers to the gloomy period of the market when the prices of cryptocurrencies continuously fall and are difficult to recover for a long time, along with a series of bad news such as theft, fraud and illegal orders. prohibited by managers.

Investors who poured money into cryptocurrencies last year are now suffering huge losses, while an increasing number of crypto lending platforms, hedge funds and stablecoin issuers are mired in dire straits. . Many other platforms also struggled with cyber attacks that caused hundreds of millions of dollars in damage.

Among the most staunch crypto opponents is Microsoft co-founder Bill Gates. Recently, he suggested that cryptocurrencies and NFT are a "find the fool" game. Meanwhile, billionaire Warren Buffett calls Bitcoin "rat poison" and does not create any value.
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