Bitcoin Pirates

Bitcoin and the Story of Antifragility #7 - A Pirate’s Ponzi

By hifi.bitcoin | HiFi Bitcoin | 1 Jun 2022

Read now to learn how there is no such thing as "easy money", in Bitcoin or across the financial space.

It couldn’t be true. It didn’t make sense. Sal had spent weeks researching Bitcoin Savings & Trust before investing and had found nothing but positive reviews. 

In retrospect, that honestly wasn’t really surprising though. People were receiving the massive daily returns the scheme’s pseudonymous operator had promised. What’s not to like when the money is flowing?

But now the music had stopped. The well had run dry. And she, along with countless others probably, was left holding the bag. Turned out that Bitcoin Savings & Trust was nothing more than a Ponzi, and she was nothing more than a sucker for it…

The above account is a fictionalized dramatization that is loosely based on the reported events surrounding the Bitcoin Savings & Trust Ponzi scheme that unraveled in 2012. As such, it should not be taken as factual.

Humanity is driven to make money. For some, it stems from a drive to succeed. For others, it comes from a desire to achieve a life of ease, where one is no longer required to labor endlessly to afford the necessities of life. No matter what our motivations may be, the vast majority of us are chasing money from sunup to sundown.

Converting your time and your work into money isn’t easy. No matter where you live or what you do for a living, making money is one of the more challenging aspects of the human experience. With that in mind, it’s not overly surprising to see so many people falling for “get rich quick” scams of one type or another, year after year.

Beware of promises of easy money. Learn from the past to know how to protect yourself for the future…

Read the full article for free on my website.

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I am an avid Bitcoin enthusiast. I publish The HiFi Bitcoin Letters, a recurring newsletter on Bitcoin:

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