Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: cryyptoexpert2020 on April 26, 2018, 01:39:55 PM
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BITCOIN continued to fall overnight and lost a massive $880 from its highest point this week. Hope of a speedy recovery to $10,000 now seems unlikely, and one of PayPal's founders has described the technology as, "a colossal pump
and dump scheme, the likes of which the world has never seen.
(https://i.imgur.com/FvYNE75.jpg)
Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $8,851 with Ethereum down at $629, and XRP at $0.81.
Bill Harris, the founding CEO of PayPal has grabbed the headlines this morning after describing all cryptocurrencies as a "scam".
Writing for Recode, he said: In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen.
"In a pump-and-dump game, promoters 'pump' up the price of a security creating a speculative frenzy, then 'dump' some of their holdings at artificially high prices.
"And some cryptocurrencies are pure frauds. Ernst & Young estimates that 10 percent of the money raised for initial coin offerings has been stolen.
The highlights package continues.
Mr Harris claims, "It helps to understand that a bitcoin has no value at all."
Adding that "losers are ill-informed buyers caught up in the spiral of greed.
"The result is a massive transfer of wealth from ordinary families to internet promoters