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Cryptocurrencies Are All Ponzi Schemes, Terms Finance Expert

The finance world is can be sometimes rightly claimed as ‘anti-Bitcoin’ and it shows every now and then when they share an opinion catering to Bitcoin and other cryptos as fraud. This can be rightly accustomed to their opinions, as cryptocurrencies have gathered a rather notorious status among the commons with excessive usage pertained to laundering and other crime related activities.

CEO of Darlinghurst Enterprises Misha Kaura claimed that cryptocurrencies have no real future ahead of what is there now in conversation with BlockPublisher. She coined the space as ‘ponzi schemes’ and accredited it to marketing that it has reached out. She said:

I don’t think crypto currencies have any future. They are all Ponzi schemes based on hype and marketing. Fundamentally all are pump and dump “investments” because they have no inherent value.

Many believe that Bitcoin has the power to solve the broken financial system that is bundled with debt and recession. Bitcoin has led the way for the past few years as it has been termed to be the future of world finance. Owing to lack of regulations and moniterization, many facets have gone on to distance themselves from crypto and the pro-fiat seem to be on board to take advantage. Kaura, being one, further predicted that Bitcoin and other cryptos will end up with a dire fate and said:

I think they will eventually be illegal and banned in the future because they are preying on naive people who don’t understand how the world works.

Whether Misha and her prediction will prove to be correct is only for time to tell. Signs are that there could be a possibility that the space does not fulfill its potential after all. With the bear market continuing into the new year from a rather dull 2018 and still no regulations or ETF structure coming in place, one would not mind distancing himself from the so called currency of the future, just like Misha Kaura.

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Razi Khan

Researcher, Electrical Engineer and a teacher, Razi is one who takes great intrigue in the prospects of blockchain and cryptocurrencies (BTC in particular) while contributing a critical approach over the subject regularly. Contact the editor at editor.news@blockpublisher.com

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