Hello dear virtual friends, how do you spend this beautiful day? I have a lot of free time today so I devoted a little more time to our platform. I see a lot of articles related to the dizzying growth of bitcoin so it made me wonder if cryptocurrencies are another kind of Ponzi seed?
Ponzi scheme or pyramid scam. Charles Ponzi, an Italian immigrant who immigrated to the United States in the early 19th century, is "responsible" for the emergence of this type of fraud. Although the United States has long been a land of opportunity in which it was possible to make the transition from one economic class to another, many immigrants saw it as an opportunity to get rich quick and easy.
Whether the United States is still a country of opportunity in which everyone can pursue their interests and progress we cannot be completely sure. American professor, linguist, and thinker Noam Chomsky, in his book "Requiem for the American Dream", argues that people in the United States have lost that opportunity.
The economic inequality of the U.S. population can be illustrated by the fact that 5% of the richest population owns about 65% of the wealth, while the remaining 95% of the population owns the remaining 35% of the wealth. And as Noam Chomsky analyzes in his book, change is not possible, or it is very difficult to enrich someone from the poorer class.
Charles Ponzi, a banking assistant who was repeatedly convicted of various frauds, devised a scheme of fraud that was then a novelty, although the basic assumptions of fraud were stated in the literature in the 19th century in the works of Charles Dickens. The bank in which Ponzi worked attracted a large number of clients by offering, during that time, an extremely high-interest rate of 6%, which was twice as much as other banks offered.
It was an unrealistically high-interest rate and if someone looked at the situation objectively, it was completely clear that it was not possible to invest money and make such a large profit in order to pay the promised interest. High-interest rates were indeed paid to the first investors, in order to attract other investors hoping for a quick, easy, and disproportionate profit.
Of course, that did not happen, Ponzi fled to Mexico with the money, while all the investors who later joined the pyramid scheme were left without money. Although the scheme is known and described in detail in the literature, it is amazing that the scheme still works and that most people continue to be deceived in the same way. The basis of every deception is that a person will get something easily, quickly and without much effort, that is, the roots rest in human greed.
There are also interpretations that cryptocurrencies are nothing but a Ponzi scheme. Although numerous facts show that this is not a fraud but a completely new approach to world finances, it cannot be completely ruled out that cryptocurrencies are actually one big pyramid fraud.
Hollywood got involved in the whole story about cryptocurrencies, which will give its view of this phenomenon through an artistic prism. Although we are aware that Hollywood is a "factory of fiction", it would not be the first time that the imagination of Hollywood creators predicts certain future events or shows existing events in a much more realistic light than is visible to the eye of an ordinary observer.
The story prepared by the MGM studio is based on a true story about a scam written by Jen McAdam based on her own experience. The yen was the victim of a cryptocurrency scam and shared that experience through her book. The working title of the film is "Fake", while the main role is entrusted to the English actress Kate Winslet, who won the Oscar for the film "The Reader" in 2008. years.
