Tuesday, September 23, 2014

Master Con Artist: Bitcoin Will Destroy Your Life

The infamous con artist, Frank Abagnale, the movie Catch Me If You Can was about him, when asked to describe the greatest scam of a all time for the October issue of The Atlantic named Bitcoin. "Bitcoin will destroy your life," is the way National Journal explained his answer.

"Bitcoin will make you the target of hackers who will steal your money," Abagnale said to The Atlantic. "More expensive than other forms of payment, Bitcoin is a way to rob people of their life savings. Most important, if something goes wrong, the money may never be recovered."

I would argue that government is the biggest scam, but Abagnale does provide an important warning about Bitcoin.

Bitcoin is now trading at $394.30. It is down 50.72% for the year. It is down some 67% form its all time high of around $1,200.00.



  1. Up over 300% from this time last year and 3,000% from 2 years. Drink the koolaid already! Stop fighting it.

  2. Bitcoin destroy your life? How about the US dollar losing 97% of its value since 1913? What about 38% of the banks in the US failing in the great depression? How about 10 days of bank "holidays" in 1933 where you can't get your money? How about a six month insurance "holiday" as well? Have you read the Bitcoin white papers?