Cries of scam arise as once high-flying firms fail to deliver on cryptocurrency

[TexasTowelie]

WASHINGTON -- When the price of bitcoin and other digital currencies shot up late last year, insurance agent Ryan James wanted in on the action. He hit a trifecta.

Unfortunately for James, the trifecta was in three get-rich-quick companies that crashed in value, drew the attention of U.S. and Canadian regulators and highlighted the dangers of the go-go world of digital currency.

The sharp skid in fortunes of the three companies — USI-Tech Limited, BitConnect and DavorCoin — has triggered hundreds of millions of dollars in losses for clients around the world, and perhaps more. Angry customers are taking to YouTube with videos about the founders of the firms, citing what they say are red flags and unsavory pasts.

Those who suffered losses span the globe, from the Philippines in Asia and Guam in the South Pacific, across the American heartland, down to Brazil, and on to Europe.

Read more here: http://www.mcclatchydc.com/news/nation-world/national/national-security/article200610969.html

[FakeNoose]

1. Bitcoin is a pyramid scheme

These people are fools, but ...

[4nic8em]

2. cryptocurrency is just like

dehydrated water...to get what you paid for, all you have to do is add more water...

[TexasTowelie]

4. Good analogy.

I think that cryptocurrencies will eventually be laughed upon as the scam of the millennium.

[Gabi Hayes]

5. Give credit to the comedian who came up with that, must be over 30years ago

Steven Wright

Will find it......

2:45

[4nic8em]

8. Thanks Gabi,

I loved Steven in his day...quick witted and sharp as a razor (opposite of his on stage appearance and comedic delivery).

[Gabi Hayes]

10. I tell that joke myself a lot myself.....then theres this:

“You know that feeling you get when you lean way back in a chair, and you’re just about to fall all the way over?

That’s the way I feel all the time!”

[Gabi Hayes]

3. Theres a recent, very idiotic thread here about how you can make gajillions on the buttcoin

I was flailed by some cryptopushers for being a pseudo currency Luddite

Where are all you guys?

Let’s hear how fabuloso things are in fantasy fund village

[Binkie The Clown]

6. Hey. Buy MY crypto currency.

crypto-

before vowels crypt-, word-forming element meaning "secret" or "hidden," used in forming English words since at least 1760, from Latinized form of Greek kryptos "hidden, concealed, secret" (see crypt; the Greek comb. form was krypho-).

Here's how it works. Send me money and I'll hide it someplace, hence "crypto". If you want any of it back, drop me a note and I'll see if I can remember where I hid it. I do plan to hide it very well, though, so I may have a hard time finding it again. But hey, as long as it's well hidden that's about as crypto as currency can be.

[TexasTowelie]

7. Haven't you heard that Trump plans to pay off all of our national debt

using cryptocurrencies? It's sad to say, Binkie, but you don't have enough hiding spots.

[NCTraveler]

9. This is kind of funny.

"Angry customers are taking to YouTube with videos about the founders of the firms, citing what they say are red flags and unsavory pasts."

1) Vet them after you invest. Way to go.
2) Knowingly investing in highly unethical companies is unsavory.
3) Did your widdle investment just go up in smoke? And you were simply hoping the currency would be used to support illegal drug activities.
4) Lets not talk about your wishful thinking in the child slavery business. If it just caught on that would have really increased your bottom line.
5) We're making money!!! Your not in the business of any such thing.