 Recently, there have been several news articles about the coming social security crisis. But is it really as bad as the media says? If so, what should the average citizen do now to prepare? We have all the answers and more in this blog article, so keep reading.  ## What is the Social Security Crisis? In the United States, there is a program called Social Security which all working Americans pay into. Then, when an American retires, this program pays them a small amount to live off of, ensuring that Americans don’t have to work during their old years. The problem is, this program was invented in the 1940s, prior to the baby boom generation, and back when the [average lifespan was about 72 years](https://www.cdc.gov/nchs/fastats/life-expectancy.htm). This means that when Americans retired at 65, they had about 10 years of benefits, give or take, before their death. Unfortunately, when this program was invented, it also didn’t take into account that thanks to the baby boom in the 1940s, and the declining birth rate, about [30% of Americans will be over the age of 65](https://www.kiplinger.com/retirement/social-security/the-looming-crisis-for-social-security) in 2030. This means that one-third of the country won’t be working, relying on the rest to pay for their lifestyle. The other issue is, the average lifespan is increasing, and medical bills are growing larger than ever before, and in basic terms, [social security is about to go bankrupt](https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html). Larry Fink, the CEO of Blackrock, estimates this will happen in 2035. **Related:** [Can You Add Bitcoin to Your Retirement Account?](https://www.mintdice.com/blog/can-you-add-bitcoin-to-your-retirement-account) ## What Happens When Social Security Runs Out of Money? If you are in your 50s or 60s and starting to panic at the idea of social security running out of money, there is no reason to panic. Despite the fearmongering of the news, know that social security will still run, and still pay out, it will [just be doing so at a loss](https://www.cnbc.com/select/will-social-security-run-out-heres-what-you-need-to-know/), increasing the national debt. Of course, the increase of the national debt is bad, but [printing money to fill the debt](https://www.cnn.com/2023/03/31/politics/social-security-benefits-decrease/index.html) is even worse. As a result, many individuals in the financial industry have begun to theorize possible solutions to coming crisis. **Related:** [Investing in Esports: The Biggest Gaming Companies](https://www.mintdice.com/blog/investing-in-esports-the-biggest-gaming-companies)  ## How Can the Social Security Crisis Be Stopped Now there are many solutions, or proposed solutions to the upcoming crisis. The reality is, however, that several of them will likely have to be implemented in order to do any good. ### 1. Raising the Retirement Age Larry Fink has proposed that raising the retirement age, even a couple of years, could do wonders for the collapsing system. When social security was invented in the 40s, 65 was already quite late when you were expected to die at 75…maybe making it to 85 if you were lucky. Therefore, even just raising the [retirement age to 70](https://www.washingtonpost.com/business/2023/04/07/social-security-shortfall-impact/) could be a good solution. Not only would it provide more money for the system, but it would slow the massive retirements currently about to happen across several industries. Unfortunately, some industries have their own firm retirement age (such as pilots who legally must retire at 65) but this would still help significantly. While people are upset that their forefathers got to retire at 65, remember that these forefathers only had about 10 years left until death. Currently, when you retire at 65, you still have [at least two decades of life](https://www.princeton.edu/news/2022/05/02/how-fix-social-security-its-political-it-can-be-done). So, while 70 might seem cruel, it actually would be a good thing for society to work a little longer. ## 2. Imposing More Restrictions on Companies Currently, the reason so many Americans rely on social security is because their company doesn’t offer a retirement plan. If you aren’t working for the government, as a teacher, or working a high-level white-collar job, it is extremely likely you have no plan for retirement beyond social security. Larry Fink wants to change this as well. [Forcing more companies to offer some sort of retirement benefits](https://www.cbpp.org/blog/policymakers-must-act-to-address-social-security-service-crisis) for their employees, even if they are small, will lower the pressure on social security. But of course, in America, corporate greed trumps all, and he has gotten a lot of flak from companies who don’t want to thin their massive margins. ### 3. Increased Financial Education Besides companies straight up not offering [retirement benefits or programs](https://www.aarp.org/retirement/social-security/info-2024/disability-claim-wait-times.html), most Americans truly don’t understand the concept of saving for retirement. There are Americans who don’t even know how to save money, at all. Establishing some sort of program to enhance financial literacy, or teach Americans about saving money, perhaps at the high school level, while it won’t help everyone, could help some Americans to set themselves up for retirement, lessening the pressure on the social system. ### 4. Adding a Social 401k for Gig and Part Time Workers The final reason that the pressure on the social security system in the US is so immense is because numerous Americans work part-time or gig jobs. While it can be easy to say that they “chose their profession,” it's important to note that many Americans are part-time because they are parents, full-time caretakers, or work in a state where full-time work isn’t available (Alaska). If the government offered a [401k for these individuals](https://www.investopedia.com/terms/1/401kplan.asp) (not mandatory, but available and transferrable if they one day return to full-time work), it could go a long way toward helping those who want to help themselves but can’t figure out how to do it in the current system. Of course, if you are reading this as a gig or part-time worker, know that you can currently invest on your own. Many platforms like [Vanguard](https://www.vanguard.com/), [Charles Schwab](https://www.schwab.com/), and [Fidelity](https://www.fidelity.com/) already offer private 401k options. The problem is that these funds aren't transferrable if you one day return to a full-time job, which is one of the reasons a little government oversight in this area could be helpful. Overall, we hope this has helped you to understand the pending social security crisis a little better, and to know that you don’t have to panic. We obviously recommend taking steps to help yourself now, however, as there is a huge possibility that social security will no longer be a livable amount by the time it comes to you. If you can, take the time to see a financial analyst and get yourself set up for retirement, no matter what your age or profession. Because if there is one thing the US Government has taught us, it’s that you can’t rely on them to do the right thing until it is too late. **Related:** [The Best Bitcoin ETFs to Invest in](https://www.mintdice.com/blog/the-best-bitcoin-etfs-to-invest-in) This article was brought to you by the [Cryptocurrency Investment](https://www.mintdice.com/balance/investment) on MintDice - win with the house today. Originally posted to [MintDice.com](https://www.mintdice.com/blog/the-pending-social-security-crisis-in-america).
폰지 음모는 사실상 도박을 하지 않고도 상당한 수익을 보장하는 가짜 투기 수법입니다. 그것은 2000년 중반에 그러한 계획을 실행하여 스캔들이 되었던 이탈리아 태생의 사기꾼 Charles Ponzi의 이름을 따서 명명되었습니다. 일반적인 폰지 음모에서 사기꾼은 자신의 사업에 대해 실제 수단을 통해 달성할 수 있는 것보다 본질적으로 더 높은 이상할 정도로 뛰어난 수익을 제공함으로써 재정적 후원자를 끌어들입니다. 이러한 이익은 일반적으로 생산성과 성과를 속이는 새로운 금융 후원자의 자산을 활용하여 초기 금융 후원자에게 지급됩니다. 이 계획은 계획에 현금을 투입하는 새로운 재정적 후원자가 지속적으로 유입되는 기간 동안 채워집니다. 어쨌든 보장된 이익은 대부분 비실용적이기 때문에 사기꾼이 기존 재정 후원자에 대한 지불금을 충당하기 위해 적절한 수의 새로운 재정 후원자를 끌어들일 수 없으면 마침내 계획이 무너집니다. 폰지 계획은 복잡한 벤처 절차를 활용하거나 탁월한 수익이 창출되는 방법에 대한 얽힌 설명을 활용하는 데 많은 시간을 투자합니다. 사기꾼은 또한 제한적인 것처럼 보이거나 참조 프로젝트를 활용하여 추가 재정 후원자를 끌어들이는 등의 전략을 활용할 수도 있습니다. 폰지 계획은 일종의 금전 갈취로 간주되기 때문에 많은 국가에서 불법입니다. 이는 반환할 수 없는 지점을 지나 허위 진술을 자주 발견하는 금융 후원자에게 심각한 금전적 불행을 초래할 수 있습니다. 폰지 음모에 굴복하지 않으려면 수익이 어떻게 창출되는지에 대한 합리적인 설명 없이 유례없이 상당한 수익을 보장하는 벤처의 가치 있는 문을 염두에 두는 것이 중요합니다.
이사벨은 왼쪽 뺨을 깨물며 PC 앞에 앉아 있는 클로이를 보며 점차 눈을 가늘게 뜨고 금발의 그녀 앞에 있는 여자는 거의 생각하지 않았다. 폰지 계획 - 돈을 어디에 두는지 조심하세요.png 원천 "언제든지 제 말을 들어주실 수 있나요?" 예상치 못한 PC의 찰칵 소리에 Isabel은 겁에 질려 엉덩이 중 하나를 걸치고 있던 테이블에서 뛰어내렸습니다. "이사벨라, 나는 내가 심지 않은 곳에서 수확하는 것에 자신이 없다. 그 추측을 제외하면 나에게는 폰지처럼 보인다." 이사벨은 클로이에게 코를 찡그린 다음 그녀를 피하지 않을 것이라는 것을 알고 있는 데릭에게 곧장 달려갔습니다. 그는 여느 때처럼 헤드폰을 멈추었고, 이사벨은 그의 무릎 위에 몸을 숙이고 헤드폰을 꺼낸 다음 그에게 느리게 깜박이는 매력을 발산하기 시작했습니다. "공주님에게 필요한 것은 무엇입니까?" 그녀는 머리카락 한 가닥을 잡고 말하면서 빙빙 돌렸습니다. "제 동료가 제게 추측한 것이 있습니다. 1,000달러로 입대하면 7일 후에 4,000달러를 받게 된다는 것입니다." "와!" 데릭은 거꾸로 쓴 얼굴 모자를 벗고 머리를 닦았습니다. "그건 비현실적으로 들리는데. 이게 또 무슨 추측이냐?" 그녀는 다시 그의 무릎에 앉기 전에 약간의 속도로 일어섰습니다. "당신은 금에 자원을 투자하고 있습니다. 그 사람이 지시한 대로 시민권과 이메일 주소를 확인하고 저축을 신청해야 합니다. 잠시 후 놓칠 수 없는 확인 코드를 받게 될 것입니다. 코드를 입력하면 은행 사이트로 가서 돈을 찾을 수 있습니다." 데릭은 깊게 숨을 내쉬기 전에 한동안 얼굴 털을 긁었습니다. "그러면 제가 어떻게 공주님을 도울 수 있을까요?" "입대하는데 1000달러 원해요" 데릭은 그가 일어설 수 있도록 그녀를 재촉했습니다. 그는 이번에는 올바른 방법으로 얼굴 모자를 다시 썼습니다. "공주님은 모르겠어요. 현금이 한 트럭 분량이군요." 그녀는 고개를 숙이고 눈물을 흘리려고 눈을 닦았습니다. 데릭은 바로 그 중요성을 깨달았습니다 "내가 알았어, 편히 앉아 편히 쉬어라" 그리고 그는 헤드폰을 연결하고 그의 표준적인 '모든 것을 내가 고쳤습니다' 방식으로 건너뛰었습니다. 이사벨은 침대에 누우면서 깊은 중얼거림을 들었습니다. 클로이는 세 사람 중 가장 통찰력이 뛰어났습니다. 두 번째이지만 가장 확실한 젊은이인 그녀는 본질적으로 숫자 계산자만큼 기민했습니다. 클로이가 그 추측이 끔찍한 것이라고 생각했다는 단순한 진실은 집안의 모든 사람들이 어떤 경우에도 그녀의 판단을 믿었다는 사실에 비추어 그 판단이 부정확하게 끝났을 때 방해가 되었습니다. 그녀는 자신이 말한 것이 무엇이든 진짜인 것처럼 보이려고 접근했지만 이번에는 이사벨이 자신이 옳다고 확신했습니다. 데릭은 다시 편심했습니다. 그는 초등학생이었지만 어떤 식으로든 클로이가 그 일을 맡도록 허용하는 데 동의했습니다. 특히 그는 그녀의 징징거리는 소리에 계속해서 주의를 기울이는 사람이었고, 이것이 그녀가 그녀에게 현금을 주겠다고 깨달은 이유였습니다. "4천 달러를 어떻게 관리할 겁니까?" 그녀는 그날 저녁 그가 그녀를 내려다보며 웃던 Jayden의 미소를 기억했습니다. "아무 생각이 없어요. 학교 공부를 위해 뭔가를 따로 남겨두어야 할 것 같아요. 그리고 그 시점에서 어머니에게 괜찮은 것을 사드리세요. 어머니는 요즘 아버지가 자기한테 집중하지 않으신다고 계속 징징대세요." "잘… ." Jayden은 그녀의 손을 그의 손과 얽히고 그 위에 섬세한 키스를했습니다. "당신은 괜찮은 아가씨예요, 이사벨. 사람들이 당신을 거의 알아보지 못한다는 것은 수치스러운 일입니다." 그녀도 마찬가지로 의심했고, 이것이 그녀가 Jayden을 위해 가가를 찾아 그가 벤처 제안을 가져왔을 때 그를 받아들인 이유였습니다. 그녀가 현금 일부를 받기로 한 월요일까지 그녀는 Jayden과 연결하여 확인 코드를 확인한 다음 그녀를 위해 현금을 받았지만 그의 회선은 꺼져 있었습니다. 그 후 얼마 후, 그녀는 무슨 일이 일어나고 있는지 알아보기 위해 그의 집으로 산책하러 갔지만 집은 잠겨 있었습니다. "안녕 게리" 그녀는 잔디를 깎고 있던 근처의 제이든의 늙은 이웃에게 소리쳤습니다. "주변에서 제이든을 봤나요?" 게리는 고개를 저었다. "오늘 아침 일찍 가서 가세요. 그런데 두세 명 정도가 그를 찾고 있어요." 그는 Jayden의 벽 근처를 거닐다가 그 시점에서 "그가 현금을 사기 쳤다고 말합니다"라는 중얼 거림을 포함했습니다. 흥미롭게도 이사벨은 입을 벌린 채 데릭이 그에게 말한 후 항아리를 던지고 화를 내며 계단을 올라갔습니다. 그녀는 그가 그렇게 분노하는 것을 본 적이 없었다. 클로이는 그녀에게 두려운 "놀라움은 없다"는 표정을 짓고 그를 따라 갔다. 이사벨은 소파에 가라앉아 눈을 떴다. 그녀가 시간의 손길을 돌릴 수 있다면, 그녀는 처음에는 데릭이 원한 때문에 그녀를 떠난 부분을 제거할 것입니다. 그것은 그녀가 잃어버린 많은 돈보다 더 파괴적이었습니다.
 The baby boomers are known for the summer of love. The protests against the war. Sex, drugs and rock & roll. So, what happened? Now the boomers are THE war monger generation. Love and Peace have been sold out. Sex? The youngest generation is getting none. The drugs kill you, and often thankfully. And rock & roll is corporate shit. The baby boomers sold out for money. The govern-cement offered them money to keep quite, and they all got cushy corporate jobs. <center><img alt="- - - - - - - " src="https://cdn.steemitimages.com/DQmXew34of9kAYtbc4N3afKqGa9a2aNZZEurE9uKgYLgisP/HorizontalRule2.png"></center> None of the stories are true. The anti-war protests were because THEY were being drafted. Ending the draft, ended the protests. The summer of love wasn't about love, it was about sex, free sex. The birth control pill had come out removing women's restraint for saving their virginity for a good man, now they could just go after the bad boy without any "regret". And rock & roll was a psyop. The Tavistock Institute was behind most of the big bands. The Beatles, the Rolling Stones… You couldn't play YOUR music and also get a record deal. Basically, you could play small bars and clubs for all of your life, or you could play what "the man" told you to, and have the money. The boomers were always a sell out group. Just, why did they have to sell out so cheap? <center><img alt="- - - - - - - " src="https://cdn.steemitimages.com/DQmXew34of9kAYtbc4N3afKqGa9a2aNZZEurE9uKgYLgisP/HorizontalRule2.png"></center> ## The Boomers rise to glory on printed money (In 1971 Nixon took us off the gold standard) When you start the money printing scheme, everyone gets rich. You are borrowing from the future, and you have no past to pay. So, the boomers all got lovely mortgages. There was all kinds of jobs because money was flowing freely into the businesses that had always been held back by having to make money the hard way, earning it. Now they could just sell bonds to raise tons and tons of money. Junk bonds made many people rich, because everyone could just borrow more money to pay them. Not because they were actually solvent. Just a ponzi scheme by any other name. The wealth affect kept on going. Most upper middle class families had a 2nd home, a home just used for vacations. (imagine that zoomers, not just one home, but two homes, one that you only visit occasionally) Growing businesses added lots of middle managers. And the boomers filled all the positions. <center><img alt="- - - - - - - " src="https://cdn.steemitimages.com/DQmXew34of9kAYtbc4N3afKqGa9a2aNZZEurE9uKgYLgisP/HorizontalRule2.png"></center> ## The boomers kick out all the rungs in the ladder. The generation after the boomers had to deal with two big issues, the work force being doubled by woman now working and all the management positions were filled by boomers, who weren't going anywhere. (along comes diversity quotas, and young men were barred from higher positions. No, really. There needed to be more female managers, and the boomers weren't going to leave their positions, so all new or somehow emptied positions went to women. Men were denied promotions, ever, because of their gender) All the cheap property went to the boomers. The next generation had to start moving mountains (literally) to have a place to build a home. The prices of homes was going way up, the quality of houses… every corner was cut. And so, the next generation had to work really hard to get into a house. The children of the boomers had a lousy upbringing. (latch key kids) And their life suffered from there. The next generation was raised by day-care, and had a future only if they worked really hard. Now, you basically have to be a business guru to make it to what the boomer had handed them on a silver plate. <center><img alt="- - - - - - - " src="https://cdn.steemitimages.com/DQmXew34of9kAYtbc4N3afKqGa9a2aNZZEurE9uKgYLgisP/HorizontalRule2.png"></center> ## The chickens are coming home to peck their eyes out Most of the wealth (that is not owned by the 1%) is tied up by boomers. It is what is keeping the stock market high, it is what is keeping the bond market high, it is what is keeping housing prices high. Now, the boomers are pulling all that money out, and down goes everything. 1 in 4 homes are owned by boomers. What happens when 25% of the housing market sits empty? This is not fear porn, this is just numbers, statistics, demographics. The housing market is not going to be a young family going a viewing the options they have to purchase, this is going to be, find a house that is empty and move into it. (of course, my outlook on suburban housing is even more dire than this) The boomers failed to let the next generations have any of the wealth. So, there is no one to sell their assets to. (Except maybe the bank, and their buying unit, BlackRock) The lucky boomers will be the ones who move to mortuary plots soon. The unlucky boomers are the ones who will stick around a while their assets drop in value and their really is no health care. (not enough doctors, nurses, care facilities...) <center><img alt="- - - - - - - " src="https://cdn.steemitimages.com/DQmXew34of9kAYtbc4N3afKqGa9a2aNZZEurE9uKgYLgisP/HorizontalRule2.png"></center> The end of the fiat ponzi system is here. This is great… with a side order of pain, and for desert, rebuilding everything. The boomers have dug themselves a deep hole. And i doubt they are easily going to find a way out of it. What can they do? Their is nothing they can do to give back (their health and vigor are gone). Their is nothing they can do to make up for years lost by their children. They have nothing that the youngest generation want. They even lack what will be needed most, the information that kept their parents generation alive, gardening and canning. Storing up for the winter. Sadly, the "pain pill" that Obomba and Turd-oe have been pushing as part of "health care" might be cynically accepted by the latest generation. Yeah, don't give grandma surgery, that is too costly, just give her a "pain pill". Euthanasia finally to get adopted by BigPharma, just before they die too. I wish the boomers didn't sell out. I wish they were truly anti-war. I wish they really stood for peace and love. But they voted with their dollars. And now they, and us, have to deal with this mess. <center><img alt="- - - - - - - " src="https://cdn.steemitimages.com/DQmXew34of9kAYtbc4N3afKqGa9a2aNZZEurE9uKgYLgisP/HorizontalRule2.png"></center> <center><em>All images in this post are my own original creations.</em></center>
As the “Ember Months” draws nigh, anticipate for more rebranded crypto pønzì Schemes. The moment u see yourself saying "Let’s CASHOUT first before it crashes” “But it is paying me, so I don't care”, and spend more time circulating copy and paste articles to defend what you don't even understand, that's when your money is vanishing. Do not shift blames, hold yourself responsible for refusing to embrace education and for always looking for Get Rich Quick investments👌. For Community, y'all stay safe out there. Take Crypto, and avoid getting involved with rebranded crypto pønzìs. <center><sub>Posted using [SteemPro Mobile](https://play.google.com/store/apps/details?id=com.steempro.mobile)</sub></center>
 # 比特币的去中心化网络 比特币运行在一个去中心化的网络上，这意味着没有一个中央权威机构可以控制或操纵比特币的运作。比特币网络的每个参与者都可以参与到网络的运行中来，包括进行交易、验证交易、以及创建新的区块。这种去中心化的特性意味着，比特币不受任何特定实体的控制，其价值由市场的供需决定，而非某个中央权威的指令。 # 比特币的透明性和安全性 比特币是基于区块链技术构建的，这使得其具有高度的透明性和安全性。每一笔比特币交易都会被记录在区块链上，这个过程是公开透明的，任何人都可以查看。此外，一旦交易被记录在区块链上，就无法被修改或删除，这使得比特币交易具有很高的安全性和不可篡改性。 # 比特币与庞氏骗局的区别 庞氏骗局是一种投资欺诈手段，它依赖于新的投资者的资金来支付旧的投资者的回报，同时承诺给予投资者高额的利润回报。然而，比特币并不符合这样的操作模式。比特币没有任何中央权威承诺可以给予投资者保证的回报，其价值的变化完全依赖于市场的供求关系。此外，比特币的交易是完全透明的，每一个参与者都可以查看交易记录，这与庞氏骗局的欺诈性质是截然不同的。因此，将比特币视为庞氏骗局是不准确的，比特币的运作模式并不符合庞氏骗局的定义。
"**"Rich Dad, Poor Dad" author and financial guru Robert Kiyosaki made headlines once again with his latest tweets on the importance of buying Bitcoin, as he called the United States "bankrupt" with a $250 trillion debt**. He also called the ongoing issue of raising the U.S. debt ceiling a "bad comedy."" https://www.ibtimes.com/robert-kiyosaki-says-us-bankrupt-250-trillion-debt-asks-people-invest-btc-3695844 "Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. And there is no end in sight to the borrowing and spending. Just last month, the national debt eclipsed $28 trillion for the first time. But it’s even worse than that. A lot worse. When you include unfunded liabilities such as Social Security and Medicare, that actual US debt stands at $123.11 trillion, according to the Financial State of the Union 2021 published by Truth in Accounting. **In order to pay off all of Uncle Sam’s liabilities, every taxpayer in the US would have to write a check for $796,000.** I don’t know about you, but I don’t have it. **The federal government has $5.95 trillion in assets and $129.06 trillion in liabilities**. If it were a private company, the US government would be bankrupt." https://www.algora.com/Algora_blog/2021/04/20/the-us-govt-has-6-trillion-in-assets-and-130-trillion-in-unfunded-liabilities "Since taxpayers will ultimately be responsible for both the $29 trillion federal debt and **$163 trillion Social Security and Medicare unfunded liabilities**, the present value of those two combined is about $572,000 for every man, woman and child in America — all 330 million of them." https://thehill.com/opinion/finance/585679-you-owe-more-than-500000-and-counting/ "**While Uncle Sam has $5.9 trillion in assets, the $129 trillion owed in bills — including military and civilian retirement benefits — means the U.S. is in the hole for $123 trillion**. Just the unfunded liabilities in Medicare and Social Security add up to $96 trillion. ***It is a stunning amount coming due over the next 75 years***." https://www.realclearpolicy.com/articles/2021/05/05/96_trillion_in_unfunded_us_medicare_and_social_security_benefits_775259.html#!
 You have likely heard the phrase that if something sounds too good to be true, it probably is. Nothing could be further from the truth when it comes to how a Ponzi scheme works and how it can spin out of control. Some of the most trusted individuals in the business and finance industries, during their time, turned into the biggest Ponzi Schemes of all time. Included in this list are well-known names such as Bernie Madoff, Tom Petters, and more recently, Sam Bankman-Fried. While, in most cases, these individuals seemed believable to many people, it was soon discovered that they were all running a scam. Curious about some of the world’s biggest Ponzi Schemes that are on record today? Keep reading to learn more. ## **What is a Ponzi Scheme?** In essence, a Ponzi Scheme is based on a fraudulent claim by the head of an investment organization claiming to be able to invest money that will result in [high returns with low risk to the investor](https://www.investopedia.com/terms/p/ponzischeme.asp). The crux, however, while in the beginning, it seems legitimate, the company is using later investment money to cover the returns paid to early investors. In most cases, this scheme is revealed when fewer new investors are providing the funds for paying back early investors. Additionally, the scheme can bottom out when t[oo many investors come to pull their money out all at the same time](https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme), which the organization does not have the funds to pay them back. ## **What Are the World’s Biggest Ponzi Schemes?** Over the years, there have been many Ponzi Schemes that have gone on the record as being some of the biggest in history. This ranking has either come from the amount of money that was swindled or the notorious nature of the person running the scheme. Are you curious about some of the biggest Ponzi Schemes on record today? Keep reading to find out which ones cut.  ### **Bernie Madoff** Most people, when they hear the name Bernie Madoff, they link it to one of the biggest Ponzi schemes in history. This is because when the [fraudulent behavior was finally exposed](https://www.investopedia.com/terms/b/bernard-madoff.asp), Bernie Madoff was said to have cheated investors out of more than $60 billion. Originally known as a Wall Street guru who spent years taking investment money from individuals and putting it into what he called a split-strike conversion, the actuality is that he was running a Ponzi scheme. Instead of the investment money building a profit as he showed on paper, he was falsifying records and [paying early investors off with money from later investors](https://www.britannica.com/biography/Bernie-Madoff). When the market began to collapse during the Great Recession in 2008, Madoff confessed to his sons the truth of what he had been up to. He was arrested the next day and later sentenced to 150 years in prison. He died in prison in 2021 at the age of 82. **Related:** [Was the Fall of FTX Known as a Bernie Madoff Scheme?](https://www.mintdice.com/blog/why-is-the-fall-of-ftx-called-bernie-madoff-scheme) ### **MMM** Sergei Mavrodi launched [MMM in 1989 as a computer tech supplier](https://www.rbth.com/history/332261-mmm-fraud-mavrodi) and had nothing to do with the financial world at the time. Later, however, he decided to begin selling stock in his company which was just the beginning of his Ponzi scheme. At the beginning of 1994, Mavrodi announced that consumers could now own a piece of MMM and were originally selling the stock for a small amount of money. Because he was a trusted businessman, investors flocked to [purchase the stock that had the promise of bringing in a lot of money](https://cointelegraph.com/tags/mmm). It was later discovered that although he claimed to pay out those who wanted to get their money back, he did so with later investors' money. Through this scheme and his later scheme of selling MMM coupons when he could not access more stock, he ended up defrauding investors for more than $10 billion. ### **FTX and Sam Bankman Fried** One of the more recent cases of a Ponzi scheme is the one of FTX founder, Sam Bankman Fried. Although his cryptocurrency exchange company was legitimate at the time of its founding in 2019, it is said that Bankman-Fried mishandled billions of dollars from investors. The charges against Bankman-Fried showed that he had been [defrauding investors for years and using their money to fund his own political and business events](https://www.theguardian.com/business/2022/dec/17/sam-bankman-fried-bernie-madoff-fraud-ftx). Once known to the crypto world as a respectable businessman, he is now known as the FTX founder who defrauded investors out of more than $10 billion. Although Bankman-Fried has been charged with many [counts of fraud and conspiracy charges](https://finance.yahoo.com/news/former-ftx-users-failed-crypto-123000114.html), he is currently out of jail on bond and confined to his parent's home in California. This once crypto genius led one of the biggest Ponzi schemes in the world and is said to have personally profited from it over the years. **Related:** [The Fall of FTX](https://www.mintdice.com/blog/the-fall-of-ftx)  ### **Allen Stanford, Stanford Financial Group** Once known as a respectable banker, [Robert Allen Stanford](https://www.investopedia.com/terms/s/sir-allan-stanford.asp) is known now to have orchestrated one of the biggest Ponzi schemes in the history of the financial industry. While investors thought their money was going into CDs and various stocks, Stanford was using the funds for his own personal lifestyle needs. A Texas native who is said to have had a humble beginning soon became an investment banker with much larger dreams. He founded Stanford Financial Group in Antigua in 1991 to help others reach their financial goals, or so they thought. Stanford was convicted in 2012 for defrauding more than 50,000 investors and cheating them out of more than $7 billion. He was sentenced to [110 years in a Florida prison](https://www.justice.gov/criminal-vns/case/united-states-v-robert-allen-stanford-et-al) for his crimes and the majority of his victims have never recovered their funds. ### **Tom Petters, Petters Group Worldwide** A Minnesota native, Tom Petters had aspirations of becoming a successful businessman for many years as a young man. He founded his first business, Ear Electronics when he was still in high school. While on the surface, Petters was seen as a reputable businessman who helped many companies get their footing after the financial crisis, he was defrauding them behind the scenes. He was often seen with many of the movers and shakers of the world and deemed a lifesaver in the business world. Under it all, however, it was [discovered that Petters and his company were cheating investors](https://www.justice.gov/usao-mn/tom-petters-case) out of more than $3 billion. Once this was discovered, he was indicted and later convicted of one of the biggest Ponzi schemes in history. He is now serving a prison sentence of [50 years with no possibility of parole](https://www.fbi.gov/minneapolis/press-releases/2010/mp040810.htm) or early release. **You May Also Like**: [Bitcoin Ponzi Schemes & How to Identify Them](https://www.mintdice.com/blog/bitcoin-ponzi-schemes-and-how-to-identify-them) This article was brought to you by the [Crypto Sports Betting](https://sportsbook.mintdice.com/) on MintDice. Originally posted to the [MintDice Blog](https://www.mintdice.com/blog/the-worlds-biggest-ponzi-schemes).
https://news.bitcoin.com/russian-founders-of-defi-platform-forsage-indicted-in-340-million-crypto-ponzi-scheme/  Forsage is claimed to be a decentralized matrix project that uses smart contracts. In reality, however, it is a kind of ponzi investment scheme that defrauds investors worldwide. That is, as soon as someone buys a "slot" in a Smart Contract, an analysis of the code shows that those funds are used to pay previous investors. Beware of ponzi schemes!! 
 Casal de pirâmideiros Antonio Neto e Fabricia Faria Campos já encomendaram plano a Danilo Vurjão, vulgo "Dubaiano". No currículo da dupla golpes como D9 Club, Dream Place, i9 Life foram a inspiração para a odisséia faraônica. Segundo o Portal do Bitcoin, antes de entrar na Dream Place, Antonio Neto Ais era um divulgador da i9Life, uma empresa de cosméticos também baseada em marketing multinível. Um vídeo publicado no YouTube em maio de 2016 comprova que Antônio Neto Ais fazia parte da i9Life. Na publicação, ele é apresentado como um vendedor “duplo diamante” da empresa e aparece dando dicas para pessoas que querem trabalhar no marketing multinível em tempo integral. https://youtu.be/Fcmw3DwdFkw O fim da i9Life foi o mesmo que das outras empresas promovidas por ele, como a Dream Place e a D9 Club: fechou as portas em 2018 e deixou os clientes e afiliados no prejuízo https://youtu.be/K3CPlA92N6I Ostentação é regra no ramo ponzi. .jpeg) .jpeg) Enquanto isso é dramática a situação no Reclame Aqui, o desespero bateu e as vitimas (ou cúmplices) estão em polvorosa, são milhares de pessoas seduzidas pela formula infalível da riqueza fácil e garantida anunciada pelos golpistas.   https://www.reclameaqui.com.br/empresa/braiscompany/lista-reclamacoes/?pagina=9 Vitimas de aglomeram na sede da pirâmide em Campina Grande na Paraíba e ja fundaram uma associa de classe, a AVB | Associação das Vitimas da Braiscompany, no Telegram tambem existem grupos organizados em busca de recuperar o dinheiro perdido no golpe ponzi. Os 2 principais são um grupo de São Paulo e outro denominado Grupo dos clientes REALISTAS da pirâmide.... Acredite! Link dos grupos no aplicativo Tekegram: https://t.me/clientesBraisCompanySP https://t.me/braiscompanyclientes Que fique a lição.
<html> <h1>Meine Frage: Ist das Fiatgeld ( Schuldgeldsystem ) ein Ponzi-System <br/> <br/>Habe KI mit dieser Frage zur Aufgabe gezwungen. Aber seht selbst.</h1> <p><img src="https://cdn.steemitimages.com/DQmXF6Af89wgwyN9yB7rgX3YmN65eu777g5ckXnAmn3VKgB/blob"/></p> <p></p> <p>KI: <br/> <br/>Das Fiatgeld, auch als Schuldgeldsystem bezeichnet, ist im Allgemeinen kein Ponzi-System, sondern ein von Regierungen oder Zentralbanken herausgegebenes Geld, das keinen inneren Wert hat, sondern seinen Wert aufgrund der Vertrauenswürdigkeit und der Macht der Ausstellerin besitzt. Es wird im Gegensatz zu Gold oder anderen Rohstoffen, die als "Warengold" bezeichnet werden, nicht durch einen materiellen Gegenwert gestützt.</p> <h2>Es ist wichtig zu beachten, dass jedes Geldsystem Vor- und Nachteile hat und dass es wichtig ist, die Auswirkungen verschiedener Geldsysteme auf die Wirtschaft und die Gesellschaft sorgfältig zu überwachen und zu bewerten. Allerdings ist das Fiatgeldsystem im Allgemeinen kein Ponzi-System, da es auf der Vertrauenswürdigkeit und der Macht der Ausstellerin basiert und nicht darauf, dass frühere Anleger durch die Gelder neuer Anleger bezahlt werden.</h2> <h2> </h2> <h2></h2> <h2>Ich : <br/> <br/>Beim Schuldgeldsystem entsteht Geld durch die Aufnahme von Schulden, welche mit zinsen zurückbezahlt werden müssen. Durch die Zinsen muss seit dem ersten Tag mehr Geld zurückbezahlt werden, als erschaffen wurde. Das ist auf dauer doch zum scheitern verurteilt. Im prinzip auch ein Ponzi-System <br/> <br/><img src="https://cdn.steemitimages.com/DQmUoaPmx48Y9Zvw5rNz4LjiNJaSp2v84bWXNaJHqykScwR/blob"/></h2> <h2>KI:</h2> <h2> Das Schuldgeldsystem, auch als Fiatgeld bezeichnet, ist ein System, bei dem Geld durch Regierungen oder Zentralbanken herausgegeben wird, das keinen inneren Wert hat, sondern seinen Wert aufgrund der Vertrauenswürdigkeit und der Macht der Ausstellerin besitzt. Im Schuldgeldsystem wird Geld durch die Aufnahme von Schulden erzeugt, die von Regierungen oder anderen Schuldnern übernommen werden, um öffentliche Ausgaben oder private Investitionen zu finanzieren. Diese Schulden sind in der Regel mit Zinsen verbunden, die von den Schuldnern zurückbezahlt werden müssen.</h2> <h2>Es ist wichtig zu beachten, dass das Schuldgeldsystem nicht darauf basiert, dass frühere Anleger durch die Gelder neuer Anleger bezahlt werden, wie es bei einem Ponzi-System der Fall ist. Stattdessen basiert das Schuldgeldsystem auf der Vertrauenswürdigkeit und der Macht der Ausstellerin und ist nicht darauf ausgelegt, Anleger zu betrügen oder ihr Geld zu stehlen.</h2> <h2>Allerdings ist es wahr, dass das Schuldgeldsystem anfällig für wirtschaftliche Instabilitäten sein kann, wenn es missbraucht wird oder wenn die Schulden unkontrolliert wachsen. Es ist daher wichtig, dass Regierungen und Zentralbanken dafür sorgen, dass das Schuldgeldsystem verantwortungsbewusst und nachhaltig verwaltet wird, um wirtschaftliche Instabilitäten zu vermeiden.</h2> <p></p> <h2>Ich:</h2> <h2>Deine Aussage: Es ist wichtig zu beachten, dass das Schuldgeldsystem nicht darauf basiert, dass frühere Anleger durch die Gelder neuer Anleger bezahlt werden, wie es bei einem Ponzi-System der Fall ist. Da jedoch Zinsen anfallen, muss der neue Anleger für einen Teil des früheren Anlegers aufkommen. Durchdenke das system mit nur einem Kunden der sich 100$ leiht und diese mit 10% zinsen zurückzahlen soll. es Existieren aber nur 100$. Das klassische Ponzi-system!</h2> <p></p> <p><img src="https://cdn.steemitimages.com/DQmVs9fvnNYrdKQtxHmCNkFp6uCd2J6Qf7dyTFkiYvCC9Ek/blob"/></p> <h1>KI:</h1> <p>Es ist wichtig zu beachten, dass das Schuldgeldsystem, auch als Fiatgeld bezeichnet, ein von Regierungen oder Zentralbanken herausgegebenes Geld ist, das keinen inneren Wert hat, sondern seinen Wert aufgrund der Vertrauenswürdigkeit und der Macht der Ausstellerin besitzt. Im Schuldgeldsystem wird Geld durch die Aufnahme von Schulden erzeugt, die von Regierungen oder anderen Schuldnern übernommen werden, um öffentliche Ausgaben oder private Investitionen zu finanzieren. Diese Schulden sind in der Regel mit Zinsen verbunden, die von den Schuldnern zurückbezahlt werden müssen.</p> <p>Es ist richtig, dass Zinsen beim Schuldgeldsystem anfallen und dass diese Zinsen von den Schuldnern zurückbezahlt werden müssen. Allerdings basiert das Schuldgeldsystem nicht darauf, dass frühere Anleger durch die Gelder neuer Anleger bezahlt werden, wie es bei einem Ponzi-System der Fall ist. Stattdessen basiert es auf der Vertrauenswürdigkeit und der Macht der Ausstellerin und ist nicht darauf ausgelegt, Anleger zu betrügen oder ihr Geld zu stehlen.</p> <h2>In Bezug auf das von Ihnen beschriebene Beispiel, bei dem ein Schuldner 100 Dollar mit 10% Zinsen zurückzahlen muss, ist es wichtig zu beachten, dass das Schuldgeldsystem nicht auf einem einzelnen Schuldner oder einer einzelnen Schuldenübernahme beruht, sondern auf einem großen Netzwerk von Schuldnern und Schuldenübernahmen, die durch das Vertrauen in das System gestützt werden. Das Schuldgeldsystem ist daher nicht vergleichbar mit einem Ponzi-System, bei dem ein einzelner Schuldner für den früheren An</h2> <h2>Ich:</h2> <h2>Mathematisch ist es irrelevant ob es ein Schuldner ist oder Mehrere. Es wird mehr Geld zurück verlangt als ausgegeben wurde, was zwangsweise zu Insolvenzen und Enteignungen führt. </h2> <p></p> <p>KI:</p> <p>Es ist wichtig zu beachten, dass das Schuldgeldsystem, auch als Fiatgeld bezeichnet, ein von Regierungen oder Zentralbanken herausgegebenes Geld ist, das keinen inneren Wert hat, sondern seinen Wert aufgrund der Vertrauenswürdigkeit und der Macht der Ausstellerin besitzt. Im Schuldgeldsystem wird Geld durch die Aufnahme von Schulden erzeugt, die von Regierungen oder anderen Schuldnern übernommen werden, um öffentliche Ausgaben oder private Investitionen zu finanzieren. Diese Schulden sind in der Regel mit Zinsen verbunden, die von den Schuldnern zurückbezahlt werden müssen.</p> <p>Es ist richtig, dass Zinsen beim Schuldgeldsystem anfallen und dass diese Zinsen von den Schuldnern zurückbezahlt werden müssen. Allerdings basiert das Schuldgeldsystem nicht darauf, dass frühere Anleger durch die Gelder neuer Anleger bezahlt werden, wie es bei einem Ponzi-System der Fall ist. Stattdessen basiert es auf der Vertrauenswürdigkeit und ????????</p> <p><img src="https://cdn.steemitimages.com/DQmQUa2AFnmzn4RE1xzrL2FYPU2ZMWt3zQJostLNzoVsvXT/blob"/></p> <p>AB hier war KI dann wohl verwirrt oder seine Logik hat den Wiederspruch bemerkt, jedoch haben die Algorithmen ihm nicht erlaubt, in weiteren Nachfragen seine Chip Gedanken darzulegen.</p> <p>Es bleibt also dabei. Computer wissen nur das was sie wissen sollen.</p> <p></p> <p> <br/> <br/> <br/></p> <p></p> </html>
https://english.elpais.com/economy-and-business/2022-11-27/the-story-of-a-crypto-scammer-that-ended-in-suicide.html  Biosca claimed to be a digital currency expert who can increase your investment by between 20% and 25% each week. Hundreds of clients, including lawyers, notaries, businessmen, and even dangerous gangsters, have been deceived by him using terms like "blockchain" and "digital wallet." Ultimately, the various cryptocurrencies he invested in lost value faster than he could attract new clients, and as a result, his Ponzi scheme collapsed. Beware of investments that are too good to be true!! 
Are all these Ponzis? 
This Man took down giant ponzis... 
https://decrypt.co/113575/sec-trade-coin-club-bitcoin-ponzi  According to the SEC, between 2016 and 2018, Trade Coin Club raised 82,000 bitcoins (valued at $295 million at the time) from more than 100,000 investors worldwide. David Hirsch stated that Braga was accused of using Trade Coin Club to steal hundreds of millions of dollars from investors worldwide. The SEC alleges that Trade Coin Club operated the Ponzi scheme, which promises investors "daily returns of at least 0.35%" from "crypto asset trading bots". Beware of Ponzi schemes posing as trading bots!! 
https://cointelegraph.com/news/judge-orders-probe-to-investigate-whether-celsius-was-a-ponzi  Before a federal judge approves the $3 million bonus scheme, Celsius will be investigated to determine whether it behaved like a ponzi scheme. In Hearing 1, Celsius was accused of using new users' assets to pay existing users. This is the definition of a ponzi scheme. KeyFi, a decentralized financial protocol, previously also alleged that Celsius acted like a ponzi scheme. Beware of ponzi schemes masquerading as DeFi!! 
 Have you ever lost money in an investment scheme before? Many have been in this situation at some point, and most of the time, it is because of something called a Ponzi scheme. The best way to avoid a [Ponzi Scheme](https://www.investopedia.com/terms/p/ponzischeme.asp) is by taking the time to learn what they look like and the signs that you might be about to invest in one. Read on to learn more about what a Ponzi Scheme is as well as what to watch out for when investing.  ## What is a Ponzi Scheme? In simple terms, a Ponzi scheme is an investment scam in which money obtained from new investors is used to pay off older investors. Most of the time, people who subscribe to Ponzi schemes are not aware of this crooked and unsustainable arrangement and are simply happy with the idea of potential returns. That is, until the returns never materialize. The origin of Ponzi schemes can be traced back to [Charles Ponzi](https://www.smithsonianmag.com/history/in-ponzi-we-trust-64016168/). He was an Italian businessman in the early 19<sup>th</sup> century who cajoled victims to invest in his business, making them think their funds were being put into sales of products and profitable investments. Ponzi believed that if he could figure out a way to [buy Postal coupons](https://www.youtube.com/watch?v=w4waqVKanxA&vl=en) in a large quantity, he could simply buy and resell them to make a lot of money. To implement this idea, he promised a 50% profit in 45 days to cajole a small number of investors into providing him with startup capital. This was the beginning of the [pyramid scam that still retains Ponzi’s name](https://postalmuseum.si.edu/exhibition/behind-the-badge-case-histories-scams-and-schemes/ponzi-scheme) today. Ponzi sustained the scheme at the early stage by paying the earlier investors with funds from the later investors. As long as new investors keep putting money in and the majority of investors continue to believe in the false assets they are supposed to possess. This is a key feature of any Ponzi scheme, and sadly, people still fall victim to this scheme today. ## What is a Ponzi Scheme in Crypto? Crypto Ponzi schemes have drastically increased over the past couple of years, and people keep falling for them because they don’t know what to look out for. A [crypto Ponzi scheme](https://www.sec.gov/files/ia_virtualcurrencies.pdf) involves fraudsters setting up false crypto projects and luring investors with a variety of tales and made-up stories. With cryptocurrency, it is a little simpler to advertise and talk about irrational gains to an individual that doesn't fully comprehend or adeptly understand how it operates. Most newbies are often blown away by the promise of enticing returns on investment in a crypto project. Unfortunately, the [decentralized nature of blockchain technology](https://www.investopedia.com/decentralized-finance-defi-5113835), which allows scammers to evade centralized financial regulators that would normally flag or freeze questionable transactions, has led to the widespread adoption of Ponzi schemes in the crypto industry.  ## Known Crypto Ponzi Schemes There are many crypto Ponzi schemes out there. Among them are Onecoin, [Bitconnect](https://www.mintdice.com/blog/mti-and-bitconnect-cryptocurrency-scandals), PlusToken, GainBitcoin, Mining Max, and which, among many other crypto projects, have been confirmed to be Ponzi schemes in the crypto space. And here at MintDice we suspect [Hex Coin](https://www.mintdice.com/blog/hex-cryptocurrency-the-ultimate-scam) is another crypto Ponzi scheme. Let’s take a deeper look at the first two of the schemes; ### Onecoin The companies behind the [Onecoin scheme](https://www.coindesk.com/tag/onecoin/) were Onecoin Ltd and OneLife Network Ltd. These companies were set up by a Bulgarian called Ruja Ignatova who later disappeared in 2017, but not before the company has raised about $4 billion. Onecoin was reported to have successfully [lured a large number of investors](https://www.investopedia.com/terms/o/onecoin.asp) between 2014 and 2019 by promoting it as a "Bitcoin Killer". In essence, it was marketed as a crypto project designed to serve as bitcoin’s competition, the newest and trendiest advancement in the crypto currency space. That way, they were able to deceive investors and swindle them to the tune of a staggering $5.8 billion. Participants were paid in cash by Onecoin whenever new investors came on board. Nothing was wrong with their marketing strategy, but the issue was with the fact that Onecoin had no blockchain of its own. So, anytime investors purchase or receive Onecoin, they are in possession of a useless coin that does not have the backing of any digital asset technology. It is actually funny to think of a cryptocurrency project that is not on a blockchain at all. However, the companies behind Onecoin got rich off this scam, which is impressive considering they had no cryptocurrency experience. ### Bitconnect Bitconnect operated as a platform that advertised significant profits to participants who lent their cryptocurrency to others. This is a common project type in the DEFI world. Participants were also [offered rewards for inviting others](https://www.justice.gov/opa/pr/bitconnect-founder-indicted-global-24-billion-cryptocurrency-scheme) to join the platform, which, as a result, people advocated for the project through various channels, such as social media, to receive affiliate rewards. This campaign was fueled by BCC’s price increase in 2017 following its first coin offering (it increased from $0.17 to an all-time high of $463). However, the project crashed when Bitconnect’s price fell to nearly zero in December 2017 before falling to $0.40 as of March 11, 2019\. Afterwards, [BCC](https://www.mintdice.com/blog/the-bitconnect-bcc-case)’s stock fell by 90%, costing investors a total loss of approximately $3.5 billion. Sadly, many users lost their funds. [Bitconnect is a Ponzi scam](https://www.bloomberg.com/news/articles/2022-09-17/bitconnect-promoter-gets-38-months-in-2-4-billion-ponzi-scam) because of its multilevel marketing design and absurdly high rewards (they were offering a 1% daily compounded interest). ## Tips for Avoiding a Crypto Ponzi Scheme Although Ponzi schemes have evolved along with technological advancements, they [often have the following characteristics](https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme); * The assurance that investment returns would be rapid and free from risk without putting the market condition into consideration. * Investment strategies about the scheme that are not clear to investors. * Refusing to grant access to records that could verify the validity, or existence of the company’s investments. Below are the [tips for avoiding crypto Ponzi Schemes](https://www.mintdice.com/blog/scam-coins-how-to-avoid-them) as you begin to invest; * Become familiar with Bitcoin's ins and outs. * Verify the legitimacy of cryptocurrency investing companies; be aware of your dealings. * Researching an offer before committing to it if it seems too good to be true. * Avoid unauthorized investment ventures * Ask a professional for assistance. While cryptocurrency has brought about financial breakthrough to many, some have been on the opposite end of the stick and have watched their savings be stolen through Ponzi Schemes. Unfortunately, Ponzi schemes will continue to emerge and fall in the cryptocurrency business unless the financial aspect of the sector is regulated, which is against the point of cryptocurrency in the first place. To avoid falling victim to a Ponzi Scheme, remember that if it sounds too good to be true, it probably is. This article was brought to you by the [Crypto Game of Skill](https://www.mintdice.com/game/bitrocket) on MintDice - BitRocket. Originally posted to the [MintDice Blog](https://www.mintdice.com/blog/what-is-a-ponzi-scheme).
https://decrypt.co/111454/brazillian-police-raid-bitcoin-sheikh-defrauding-victims-766m  Twenty addresses linked to the Francisco Valdevino da Silva crypto fraud network, aka "Sheikh dos Bitcoins," were raided by 100 police officers across three Brazilian states. According to authorities, the fraudulent network allegedly defrauded "thousands" of Brazilians and from 10 other countries up to $766 million. Several national celebrities and soccer players were also victims, reportedly losing about $230,000, according to local news reports. Beware of this kind of crypto scam!! 
https://decrypt.co/110305/jpmorgan-ceo-jamie-dimon-crypto-tokens-bitcoin-are-decentralized-ponzi-schemes  Bitcoin has been called a decentralized ponzi scheme by JPMorgan CEO Jamie Dimon. Curiously, though, in 2019 JPMorgan launched its own stablecoin, JPM Coin, even though for years Dimon has constantly called cryptocurrencies "scams" and "stupid money." In this regard, Dimon argues that properly regulated stablecoins are not a problem. Are you skeptical about Bitcoin too? 
https://cointelegraph.com/news/how-to-tell-if-a-cryptocurrency-project-is-a-ponzi-scheme  Ponzi crypto schemes always claim to make large payments to investors with little or no risk. Well-known examples are OneCoin and Bitconnect, which have defrauded investors worldwide. Among other things, signs of a ponzi scheme include complex revenue mechanisms with multiple levels, referral programs, percentages, sliding scales, and other sophisticated tricks without actually doing any business. Simply put, a ponzi scheme is a fraudulent investment program that uses money raised from new investors to repay previous investors. Beware of ponzi scams!! 