Is Bitcoin a Ponzi Scheme or a Currency of the future?

The economist Nouriel Roubini, or perhaps more known as Dr. Doom, has a very pessimistic outlook on the virtual currency known as bitcoin, that lacks both a central bank and central government.

Dr. Doom is not the only one that has a negative view on bitcoin. Thailand has ruled the digital currency illegal and Japan looks at it more as a commodity of trade.

However, more and more celebrities in the financial world actively advocates bitcoin, among others, the billionaire Richard Branson who would allow bitcoin as a means of payment in his space flight venture according to CNBC (http://www.cnbc.com/id/101220710). Quite a few smaller companies have bitcoin to thank for their success according to CNBC.

This does nothing to change the mind of Nouriel Roubini who claims that bitcoin only feeds criminality and that everyone who is already using it immediately should trade it into a traditional currency such as USD.

“So Bitcoin isn’t a currency. It is btw a Ponzi game and a conduit for criminal/illegal activities. And it isn’t safe given hacking of it.” Roubini tweeted last Sunday.

More Reading:

Forex HYIP programs – the tell tale signs of a forex scam

Bernard Madoff Fast Track to Poverty

Chris Lee

Share

Tweet

Safest Forex Brokers 2023

	Broker	Info	Best In	Customer Satisfaction Score
#1	73 % of retail CFD accounts lose money Founded: 2014	Global Forex & CFD Broker	Best Trading Conditions Visit broker	4.9
#2	Your capital is at risk Founded: 2014	Global Forex Broker	BEST SPREADS Visit broker	4.8
#3	Your capital is at risk Founded: 2006	Globally regulated broker	BEST CUSTOMER SUPPORT Visit broker	4.9
#4	86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Founded: 2008	Global CFD Provider	Best Trading App Visit broker	5
#5	Between 74-89 % of retail investor accounts lose money when trading CFDs Founded: 2010	Global Forex Broker	Low minimum deposit Visit broker	4.9
#6	67% of CFD traders lose Founded: 2007	Global CFD & FX Broker	ALL-INCLUSIVE TRADING PLATFORM Visit broker	4.9
#7	Your capital is at risk Founded: 2009, 2015 and 2017	Global Forex Broker	Low minimum deposit Visit broker	5
#8	Your capital is at risk Founded: 2006	CFD and Cryptocurrency Broker	CFD and Cryptocurrency Visit broker	5

Forex Fraud Certified Brokers

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.