Calling the #PonziScheme of being unable to #keepitintheground.

https://www.latimes.com/california/story/2023-08-15/la-habra-orange-county-coyote-village-condominiums-greenbelt-flood-channel-collapse-winter-storms

#BlameGame: Our #politics like our #infrastructure remain purchased by #fossilfuel possibilities rather than the #resilience and #safety needed for a warming planet.

#DonutCities #FiscalizingLandUses #PonziScheme #SegregatedSprawl #RevenueShortfalls #PolicePensions #HousePeopleNotCars

#FiscalizingLandUses #PonziScheme: #Cities across the country are experiencing inflexible #expenditures and highly constrained #revenues. Without residents’ demands being met, the prospects of hollowing out increase. #Budget #projections look bleak in many cities, with notable cases including large metros such as Chicago, Houston, San Francisco and New York City.

#SegregatedSprawl #Services #HousePeopleNotCars #WalkableCities

https://theconversation.com/san-jose-and-the-reemergence-of-the-donut-city-209319

Everything in American capitalism, including UNIONS, is some version of a #PonziScheme in which only the first humans in-the-door receive secure jobs and stand to gain long-term benefits. Unemployed people coming onto those jobs now are shamelessly sold out - just like their #future and communities.

#Crypto #Cryptocurrencies #Cartels #Scams #PonziScheme #Decentralization: "It’s a cartel in the classic economic and business sense—OPEC, not Sinaloa—a small group of connected actors working together to dominate a market that they only recently helped create. For crypto, where money is fake, value is purely hype-based, and new tokens can be spun out of nothing, it makes perfect sense. It’s a small industry, notionally worth $3 trillion at its peak in November 2021 but now hovering around $1 trillion. Many leading crypto luminaries know each other, interact on social media, trade with each other, and hobnob at small private gatherings like the Satoshi Roundtable, an annual invite-only meeting of select crypto insiders. Last spring, I confirmed via some attendees that Jean-Louis van der Velde, Tether’s elusive Hong Kong-based CEO, was at the invite-only FTX conference in the Bahamas, alongside luminaries like Bill Clinton and Tony Blair. In a public Twitter exchange, Bankman-Fried—whose Alameda hedge fund allegedly bought at least $36 billion worth of Tether in just a few years—said he didn’t know if van der Velde was there. I didn’t believe him.

Many crypto power players have histories with poker, online gambling, offshore finance, and/or other gray-market economies. A lot of them do business via so-called OTC, or over the counter, trades: person-to-person exchanges that might not leave a trace on the blockchain, crypto’s supposedly transparent public ledger. Over time, the industry, including its black-market participants, has developed its own protocols, social codes, and, as interests aligned, what amounted to an omerta. What was good for one member was often good for the rest."

https://thebaffler.com/outbursts/blowing-up-the-crypto-cartel-silverman

#Crypto #CryptoCurrencies #PonziScheme #Gambling: "So, is buying into crypto just gambling?

It’s basically online poker 2.0. Some of the same players came from that [world]. The general counsel of the stablecoin company Tether was the former chief compliance officer of the holding company of [the now-defunct poker site] Ultimate Bet, which had a secret “god mode” where it was cheating its customers.

Economically, it’s like playing poker in Vegas: We sit around the table—you may win a hand, I may win a hand. We haven’t created any value. As we go around, we’re all losing a little bit as the house is taking the rake. That’s how they keep the lights on in the casino. Crypto is like Vegas without the drinks or dinners or shows. And you’re playing an unlicensed, unregistered casino."

https://www.fastcompany.com/90911256/ben-mckenzie-crypto-easy-money-book

#Crypto #Cryptocurrencies #PonziScheme #CyberCrime #NFTs: "Boosters have for years described crypto as a revolutionary technology—disempowering central banks, empowering private individuals, and perhaps even ushering in an era of world peace. But revolutionary for whom and in what way? That’s hard to say.

Most crypto users are just making speculative bets; most crypto firms are just making or facilitating speculative bets themselves. Crypto is a casino, for the most part, and one without the free drinks.

These digital assets are “pretty much only good for illegal activities, like money laundering, narco-terrorism, and tax evasion,” Dennis Kelleher, a co-founder of Better Markets, a nonprofit advocating for financial regulation, told me. “Is there social or public interest in enabling a financial product like that?”

Then there are the volatility and the bubbles. Financial assets go up in price. They go down in price. This is their nature. But few things go up and down quite like crypto. NFTs came out of nowhere, sucked up billions of dollars, and collapsed. Initial coin offerings came out of nowhere, sucked up billions of dollars, and disappeared."

https://www.theatlantic.com/ideas/archive/2023/06/crypto-down-or-it-dead/674442/

I Exposed a $500,000,000 Scam - Coffeezilla

In this video, Coffeezilla uncovers a ponzi scheme that at its height contained half a billion dollars worth of investments. Popular YouTubers were caught in the scam. Threats of violence to those trying to investigate.

This is only part 1.

#Coffeezilla #PonziScheme #Scam #TradersDomain

https://m.youtube.com/watch?v=I8AcHRQ_2oo&feature=youtu.be

#Crypto #Cryptocurrencies #PonziScheme #FTX #Fraud: "The mountain of evidence ranks among the largest ever collected in a white-collar securities fraud case prosecuted by the federal authorities in Manhattan, according to data provided by a person with knowledge of the matter. In the 2004 securities fraud prosecution of Martha Stewart, for example, prosecutors produced 525,000 pages of evidence to the defense team, but the numbers have increased significantly in recent years.

The diversity and growing volume of materials in the FTX case underscore the legal challenges facing Mr. Bankman-Fried, 31, who is charged with 13 criminal counts, including accusations that he misappropriated billions of dollars in customer money, defrauded investors and violated campaign finance laws. He has pleaded not guilty.

With the trial set for October, prosecutors have gathered evidence ranging from phones and laptops to the contents of Mr. Bankman-Fried’s Google accounts, which amounted to 2.5 million pages alone. At a hearing in March, Nicolas Roos, a federal prosecutor investigating FTX, said the government had obtained a laptop crammed with so much information that the F.B.I.’s technicians were struggling to decipher all of it."

https://www.nytimes.com/2023/05/23/technology/ftx-evidence-sam-bankman-fried.html

#Crypto #Cryptocurrencies #FTX #Fraud #PonziScheme: "If there's something distinctive about the world of crypto, it's how fast big companies and big fortunes can be spun out of nothing — and just as swiftly collapse. Nowhere has that been more apparent than the meteoric rise and fall of crypto exchange FTX and its CEO and founder, Sam Bankman-Fried.

Bankman-Fried founded his crypto hedge fund Alameda Research in November 2017, with FTX established in May 2019. By early 2022, it had scaled to a multibillion-dollar operation, vaulting Bankman-Fried to the front ranks of both crypto executives and political donors.

But when a leaked company balance sheet exposed a shaky financial foundation, rival exchange Binance announced it would sell its hoard of FTT, the token associated with the FTX crypto exchange. That sparked the crypto equivalent of a bank run, as customers hastily moved to withdraw their funds."

https://www.cbc.ca/news/business/ftx-cryptocurrency-demise-sam-bankman-fried-1.6815674

Jo a pokud si furt myslíš, že je to legit business, tak samozřejmě máš možnost tenhle profit z nabulíkování kámošů znovu investovat do celýho systému.

Jak se ten pán jmenoval? Ponzi? To bude asi on

#pyramidscheme #ponzischeme #ponzi

#Crypto #Cryptocurrencies #PonziScheme: "What I am talking about when I use this oxymoron is the men in suits — and it is most commonly men, though there are women too — who will tell you that sure, the vast majority of cryptoland is a gigantic grift, but that their crypto coin is going to change the way we send money around the world, making the financial system fairer and more inclusive and democratic.

It’s the political leaders who insist that we must embrace this noxious industry in order to stay at the cutting edge of innovation. It’s the Wall Street types with money to lose who appear on CNBC to tell the less well-off that crypto is a safe place to put their money. And yes, it’s the crypto exchange bosses who don’t care about the Lambos and designer clothes; they just want to make a few billion dollars so they give it all away and make the world a better place.

These people lend credibility to a high-risk, opaque and ill-understood industry that should be thought of as something between a multilevel marketing scheme and a Ponzi scheme, that preys on — and indeed relies upon — those who cannot afford to gamble their money away."

https://www.ft.com/content/29605ca8-494a-4762-bedc-43e3671226ab

Crypto-bank Silvergate to shut down after FTX fallout

https://youtu.be/vEuN-FxHLjM

#news #politics #cryptocurrency #scams #ponzischeme #blockchain

Coffeezilla exposes the Celsius fraud in this video.

Nuff said.

#Celsius #Coffeezilla #Fraud #Scam #PonziScheme

https://youtu.be/d3d8bRDAP3s

Exposing a Billion Dollar Fraud

https://youtu.be/d3d8bRDAP3s

#crypto #scam #fraud #coffeezilla ##news #ponzischeme

Enjoy a new essay from the iilluminaughtii

https://youtu.be/rJdt1hMAkPA

#iilluminaughtii #breadtube #essay #fitness #junkscience #badcompanies #ponzischeme #beachbody #MLM

Really do your research before getting involved with any investment but do double research before getting involved in #cryptocurrency . Some people are losing their life savings in the FTX #PonziScheme and it's sad.

Gizmodo: 17 FTX User Complaints That Are Just Heartbreaking.

https://gizmodo.com/ftx-sbf-bitcoin-price-crypto-bankrupt-17-ftc-complaints-1849917506

#cryptoisaponzischeme #cryptolife #ThursdayThoughts

Enjoy another iilluminaughtii

https://youtu.be/nArdDSOYrIY

#iilluminaughtii #essay #MLM #princesshouse #pyramidscheme #ponzischeme

More details of the great #CryptoFraud that was #FTX This era's massive #PonziScheme #FTXPonziScheme

https://www.reuters.com/legal/alamedas-ex-ceo-tells-judge-she-hid-billions-loans-ftx-execs-2022-12-23/

#Crypto #Cryptocurrencies #PonziScheme #Religion: "This is the final thing that I have learnt about crypto this year: it has a strange resilience. The market and many of the biggest platforms might have collapsed, and the prophets and core tenets of this quasi-religion might have proved themselves false. But many people are still willing to suspend disbelief, clinging on to the hope that one day, their miraculous internet money might resume its trajectory to the moon."

https://www.ft.com/content/bd850edf-9c4c-49b0-9449-e0da314f5729