View Full Version : Bitcoin... Research & Be Aware ...

01-18-2014, 02:04 PM
Bitcoin bubble won't last without Beijing's approval ....

Bitcoin is a Ponzi scheme masquerading as a futuristic currency. It was a small bubble until it found China last year. But when the Chinese government launched its crackdown, it was the beginning of the end. Its recent revival is merely the last gasp. No retail Ponzi scheme can last without the credulous and speculative masses in China.

Bitcoin was trying to join the internet bubble without much success. In the West, bubbles are driven by money managers. Bitcoin is too crazy for them.
But China is the land of retail bubbles. Puer tea and paintings of faces featuring big smiles are two recent examples. In the 1980s, old deutschmark notes from the hyperinflation era were doing the rounds in China. All those zeros got speculators excited. People didn't know the real deutschmark. Bitcoin works in China just like the old deutschmark did then. As long as you are ignorant, it promises untold millions.