Are you fascinated by the world of cryptocurrencies and its earlier events? Bitcoin History Season 2, Episode 7 brings you The 2012 Crash, an eye-opening cautionary story on Ponzi schemes that shook the world of Bitcoin. In this episode, you'll uncover how greedy schemes can prey in your financial freedom and the importance of due diligence. Join us and take a glimpse on the darker side of cryptocurrency historic previous.
In the summer time season of 2012 Bitcoin Savings and Trust which was a Ponzi scheme promising huge weekly payouts to merchants stopped its payouts Bitcoin Savings and Trust.
Operator Trenton Shavers in the end went to jail for his actions the BTC price gained almost 20 % in two days topping out at 16.41 on August 16 2012.
Losing the entire options and bottoming out at merely seven {{dollars}} and 10 cents three days later the price sounds low nevertheless percentage-wise this was an unlimited switch the Silver Lining proper right here is Bitcoin has proved to be resilient inside the face of Market Corrections yr over yr.
★☆★Download Exodus:
🔔★Subscribe for additional motion pictures about Exodus pockets and crypto★🔔
https://youtube.com/c/exodus?sub_confirmation=1
🔔☆Exodus Newsletter☆🔔
https://www.exodus.com/newsletter/
This content material materials is for educational and informational features and is not funding suggestion. You ought to hunt the recommendation of an expert licensed advisor sooner than partaking in any transaction. Exodus cannot guarantee the effectivity of the third-party platforms confirmed on this video. Its merchandise/firms, the steps confirmed, and the data provided won't on a regular basis be right and are matter to range.
#Bitcoin #btc #cryptocurrency
In the summer time season of 2012 Bitcoin Savings and
Trust which was a Ponzi scheme promising Large weekly payouts to merchants stopped
its payouts Bitcoin Savings and Trust. Operator Trenton Shavers in the end went
to jail for his actions the BTC price Gained almost 20 % in two days
topping out at 16.41 on August 16 2012. Losing the entire options and bottoming out at
merely seven {{dollars}} and 10 cents three days Later the price sounds low nevertheless percentage-wise
this was an unlimited switch the Silver Lining proper right here is Bitcoin has proved to be resilient inside the
face of Market Corrections yr over yr.
The 2012 Crash: A Cautionary Tale on Ponzi Schemes from Bitcoin History Season 2, Episode 7
Introduction
If you are a cryptocurrency fanatic, you then would possibly want already heard regarding the video – “The 2012 Crash: A Cautionary Tale on Ponzi Schemes from Bitcoin History Season 2, Episode 7” – launched by Exodus. Exodus is a primary multi-currency crypto pockets that has launched this educational video for people to check regarding the dangers and risks associated to Ponzi schemes inside the cryptocurrency market. In this textual content, we're going to concentrate on this video intimately.
What is the Video About?
The Exodus video, “The 2012 Crash: A Cautionary Tale on Ponzi Schemes from Bitcoin History Season 2, Episode 7,” is all regarding the Ponzi schemes which have infiltrated the cryptocurrency market over time. The video takes viewers on a journey by way of Bitcoin's historic previous and the best way Ponzi schemes have been prevalent from the early days.
Exodus highlights a specific event that occurred in 2012, the place a Ponzi scheme often known as “Bitcoin Savings and Trust” scammed tons of of hundreds of {{dollars}} from merchants. This rip-off triggered an unlimited crash inside the Bitcoin market and precipitated various panic amongst merchants.
What Can We Learn From the Video?
There are various key takeaways from the video which will help merchants set up and steer clear of Ponzi schemes in the end. Here are among the many courses:
Ponzi schemes promise extreme returns with little or no hazard – If one factor sounds too good to be true, it probably is.
Ponzi schemes rely upon new merchants to repay outdated ones – This is the fundamental hallmark of a Ponzi scheme. Once new merchants stop coming in, your full scheme collapses.
Always do your evaluation – Before investing in one thing, do your evaluation to ensure the legitimacy of the funding various.
Don't make investments higher than you can afford to lose – This is a crucial rule of investing. Always make investments accurately and prudently.
Conclusion
The Exodus video, “The 2012 Crash: A Cautionary Tale on Ponzi Schemes from Bitcoin History Season 2, Episode 7,” is a must-watch for anyone inquisitive about investing in cryptocurrency. The video provides worthwhile insights on the hazards of Ponzi schemes and educates merchants on simple strategies to determine and steer clear of them. By following the teachings provided inside the video, merchants can safeguard themselves from being scammed and assure a safe and worthwhile funding journey.
FAQs
- Is Bitcoin a Ponzi Scheme?
- No, Bitcoin is simply not a Ponzi scheme. However, Ponzi schemes have been prevalent inside the cryptocurrency market over time.
- Can I make extreme returns with little or no hazard inside the cryptocurrency market?
- No, there's no funding various that ensures extreme returns with little or no hazard. Always keep in mind, with higher returns comes higher risks.
- Are decentralized cryptocurrencies safer than centralized ones?
- Decentralized cryptocurrencies have greater safety measures than centralized ones. However, it is nonetheless essential to do your evaluation and make educated funding alternatives.
- What should I do if I believe a Ponzi Scheme inside the cryptocurrency market?
- You should report the scheme to the appropriate authorities and warn others of its existence.
- What are some warning indicators of a Ponzi Scheme inside the cryptocurrency market?
- Some warning indicators of Ponzi schemes embody unrealistic ensures of extreme returns, a shortage of transparency, and a reliance on new merchants to repay outdated ones.