Why Bitcoin is a Scam and Modern Day Ponzi Scheme

Over the years, we’ve written many articles about bitcoin and how the world’s most popular cryptocurrency has become the most speculative digital asset with little to no utility in the real world partly due to its volatility, privacy, and other environmental concerns.

In a little more than 10 years, Bitcoin has become a ubiquitous part of everyday life, and the community around Bitcoin (and other cryptocurrencies) has grown exponentially. People have gotten rich off Bitcoin, you’re told; put money in it, and you’ll get rich too. But it’s all a lie.

In a simple and most straightforward explanation ever, Doug Henwood, the author of Wall Street, explains in this 7-minute video why Bitcoin is a scam. Enjoy!