Do YOU understand the situation crypto has put you into? Your MONEY is losing its Value!
Crypto is taking over the world. Here’s how you can avoid being the victim of the great destruction.
In 2008 during the financial crisis in the United States, a mysterious man was working on his new invention. He sent an email to The Cryptography Mailing List stating that decentralized technology is on its way and will take back the power of people and give it back to them which is now in the hands of top big private companies, Google, Microsoft, Facebook, etc. And centralized government. The email has an undersigned name —
Satoshi Nakamoto.
Satoshi Nakamoto, the inventor of Bitcoin, emerged as the face of this revolution. He gathered thousands of followers and gained widespread recognition. Even government leaders were keen to unveil the identity and to know his intention. Little did they realize that a massive scam was unfolding right under their noses.
Let me explain the system that Satoshi Nakamoto had created. Bitcoin is a digital currency that will be completely decentralized and it will become the mode of currency in the future, same as all the currencies are working in the world. His goal was one thing! Use Bitcoin to increase decentralized power. And so it was soon bought by many people. Bitcoin in exchange for a dollar!
Wow.
Now if you know finance and are a bit experienced, you know what will happen when many people come to buy Bitcoin using the dollar currency. Its price skyrocketed. All those people are rich now! Woah celebration time. It was a great idea to invest in cryptocurrency.
Now
Stop
Rewind
What was the actual goal of crypto?
Oh yes to have privacy. Right.
Was the goal achieved?
Definitely Not!
Everyone wants to become rich quickly. They will keep on investing until they are satisfied with it. But humans can never be satisfied with what he has. So? He craves more. He doesn’t take money out of his investments.
There is a big problem here. Let me tell you if you haven’t discovered it yet.
Ponzi scheme is taking place.
Ponzi scheme — is a mechanism to attract investors with a promise of future returns. Now as new people discover about it they start putting their money in the hope of profit. The fact is this money is never invested in any stock market or such. They are used for personal benefit by the top person handling everything. Now as the pyramid increases, the top investors will have more profit because of the bottom new investors. If something happens or suppose that the top man runs away, who will face the loss? The bottom people.
My parents were the victims of this Ponzi effect. That top man made so many stories for not giving the money on time and later everyone found out his door was locked.
His house is empty.
He has left the nation with the people’s money. Being at the bottom both my parents faced the loss. They didn’t even get a complete principal amount.
Crypto does the same. How did FTX suddenly collapse? CEO, Sam Bankman-Fried (nickname SBF) was like:
What.
Just.
Happened.
He was Sued for 8 illegal activities by the US government. His cryptocurrency collapsed. All the people at the bottom of the pyramid were at total loss. People who have invested all their savings in FTX find out their money is no longer worth even 10 dollars.
This is not the end. It’s not the start. It’s in between the both. Soon the market may crash and all your saved money will lose its value.
The idea of cryptocurrency is confusing in so many ways. It’s a combination of getting rich quickly for some people, for others it’s a long-term investment and legends think it is a decentralized movement against the government and big private companies.
I am not saying don’t invest at all. You should first read every single detail about that currency. As you all know, the CEO of Binance cryptocurrency is under allegations of money laundering. Nobody to date knows where the headquarters is at least. That’s why I say don’t just jump because everyone is.
Everyone thought SBF was the J. P. Morgan of the crypto world but he was nothing but an inexperienced and a genius scammer!
Differentiate between right and wrong, take calculated risks, and trust your instincts; they will guide you toward a better future.
Thank you so much for reading till the end. I appreciate it. Now it’s your turn to tell me what you think about this. You see, I am not a crypto expert. I watched some videos and did my research before publishing my article. If I made some mistakes then maybe I didn’t understand the crypto world just yet. So can you help me with telling your point of view? Thank you :)
Below are some of my articles which you can read in your free time.
Hope you have a great day ahead!
