The chairman of China’s Blockchain Service Community (BSN) Improvement Alliance Shan Zhiguang, and his colleague, insisted in a just lately revealed op-ed that digital foreign money is “undoubtedly the most important Ponzi scheme in human historical past.” Nevertheless, they’ve mentioned the “worth of blockchain expertise shouldn’t be ignored due to digital foreign money.”
Opinion Piece Claims 90% of 100 Richest Folks Have Unhealthy-Mouthed Digital Forex
The chairman of the Chinese language Blockchain Service Community (BSN) Improvement Alliance, Shan Zhiguang, and government director He Yifan, have mentioned digital foreign money is “undoubtedly the most important Ponzi scheme in human historical past.” Additionally they claimed that this Ponzi scheme has since morphed into one that’s “now not nearly money.”
In a latest opinion piece revealed by the Folks Each day On-line newspaper, the BSN chairman and his colleague start their assault on digital foreign money and bitcoin by pointing to the actual fact it has been “bad-mouthed” by a minimum of 90% of the 100 richest individuals in the world. The duo additionally offers the explanations which compelled them to equally view BTC or digital foreign money negatively. They wrote:
Any such Ponzi scheme will be categorized as ‘equity-type,’ and it has three foremost traits: first, it’s primarily based on fairness that may be denominated; second, the fairness will be traded and circulated; lastly, and most significantly, this fairness is just not Related to any asset, productive labour, or social worth, however is completely fictional.
Based on the duo, the fairness in digital foreign money fairness Ponzi schemes is just not linked to any actual asset or labor therefore the danger is “near infinity.” When wanting on the traits of digital foreign money, Zhiguang and Yifan mentioned it’s obvious that these are per these of a so-called fairness Ponzi scheme.
Blockchain Should Not Be Ignored
Elsewhere in the article, the BSN chairman and Yifan use the instance of dogecoin to point out how only one influential particular person can manipulate or management the worth of a digital foreign money.
“So it’s straightforward to know that Musk can flip his fingers on dogecoin as a cloud, and switch his fingers right into a rain. Simply sending a tweet could make the value of digital foreign money flat,” the duo claimed.
Regardless of their stance on digital foreign money, Zhiguang and Yifan insisted in their opinion piece that blockchain expertise, which anchors most cryptocurrencies, “shouldn’t be ignored.” The duo, nevertheless, urged that regulation expertise continues to be wanted to make sure the blockchain performs “an enormous position in numerous utility fields.”
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