Friday, February 9, 2018

World Bank Chief Says Cryptocurrencies Are "Ponzi Schemes"

Jim Yong Kim
World Bank Group President Jim Yong Kim said Wednesday at a dinner in Washington that "the vast majority of cryptocurrencies" are essentially "Ponzi schemes", Bloomberg reports:
“In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically Ponzi schemes,” World Bank Group President Jim Yong Kim said Wednesday at an event in Washington. “It’s still not really clear how it’s going to work.”
 -RW

3 comments:

  1. Yep, the consumer should only be allowed your ponzi scheme of the central banking vermin. Too bad people are too stupid to rise up and impale everyone of these sorry sacks of crap on a pike.

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  2. If you had to have an asset to spend currency the world bank would be out of business in a New York minute.

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  3. People in charge of legalized ponzi schemes claiming that competitive private currencies are ponzi schemes. Imagine that.

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