As in a traditional Ponzi scheme outdated traders cashing out solely accomplish that on the expense of latest cash coming in.
In contrast to, say, funding in shares and bonds, bitcoin makes no contribution to the higher financial or public good.
Furthermore, whereas authorized processes have led to the restoration of $14billion, or 70 per cent of misplaced funds for early Madoff traders, there is no such thing as a chance of the final bitcoin savers ever recovering their capital. Bitcoin is a rip-off that may solely finish in tears.
Eulogy made by Alex Brummer