RATE Group | The Greatest Con in the History of Cryptocurrency
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The Greatest Con in the History of Cryptocurrency

26 Aug The Greatest Con in the History of Cryptocurrency

Posted at 15:38h in Cryptocurrency News by

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Every emerging industry, market, or community has a certain degree of risk of exploitation by bad actors. Cryptocurrency is no different, with anyone able to create a project, convince droves of low-information investors to part with their money, and then scam them. However, it’s not the infamous now-defunct scams that are the largest offenders, but something greater. Something much more sinister.

Bitcoin was founded on hard-headed practicality and high-minded principles

The creation of cryptocurrency presented a hard solution to an ideological problem. Government and bank control over money and payments systems resulted in devaluation, censorship, and costly and inefficient middlemen to the financial system, and Bitcoin, as a peer-to-peer electronic cash system, was designed as an alternative. The creation of a free, better money was achieved in 2009, and for most of those nine years since then Bitcoin has had a working product that could provably function as intended…

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