As in a traditional Ponzi scheme outdated traders cashing out solely achieve this on the expense of recent cash coming in.
Not like, say, funding in shares and bonds, bitcoin makes no contribution to the larger 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 isn’t a risk of the final bitcoin savers ever recovering their capital. Bitcoin is a rip-off that can solely finish in tears.
Eulogy made by Alex Brummer