Chinese-state sponsored blockchain org slams cryptos

6/28/2022 11:03:00 AM

China's blockchain boosters slam crypto as Ponzi scheme

China's blockchain boosters slam crypto as Ponzi scheme

Communists reckon Bill Gates and Warren Buffet got it right

11 Copy Executives at China's Blockchain-based Service Network (BSN) – a state-backed initiative aimed at driving the commercial adoption of blockchain technology – labelled cryptocurrency"the biggest Ponzi scheme in human history" in state-sponsored media on Sunday.June 26, 2022 All appeared not to be lost, however, as the organiser of another protest, planned for later this year was present and handing out business cards.By: Jun 27, 2022, 11:38 AM Listen to this article McLaren will make its debut in Formula E later this year after announcing in May that it had purchased Mercedes’ entry, having previously announced plans to race in Extreme E from 2022."The two males, who had split from a larger group, had fled from officers and were located on Bridge Road by a single crewed officer who pursued them on foot to arrest them.

"The author of this article believes that virtual currency is becoming the largest Ponzi scheme in human history, and in order to maintain this scam, the currency circle has tried to put on various cloaks for it," wrote Shan Zhiguang and He Yifan in the People's Daily.He Yifan is the CEO of startup Red Date Technology – a founding member and architect behind BSN – where he serves as executive director.He said the turnout for Sunday’s event was “quite poor”.Co-author Zhiguang Shan is chair of the BSN Development Alliance.“The partnership represents the union of two organisations with similar goals in technology and innovation,” a statement from McLaren reads.Launched in 2020, BSN provides a Beijing-backed infrastructure for blockchain developers in the Middle Kingdom – sans cryptocurrency, as it is illegal in the country.“At the end of the day, it’s a thing not an actual human being – if she was here maybe a few more people might have turned up,” he added.The framework is intended to be interoperable globally, but has separate international and domestic versions to comply with rules in China."After returning to his vehicle, having pursued the offenders, arrested them and having been assaulted he located the attached note on his car.

He and Zhiguang reasoned that cryptocurrency is a Ponzi scheme because it requires a continuous stream of new investors in order to remain stable, with early investors profiting the most.| Image: RSM Photography Keith said his organisation was “not party political”.This is an incredible way to kick off our entry into Formula E and to unify our electric racing series."However, this state is actually based on an extremely fragile balance," wrote the duo."Once there is malicious short-selling, no successor, tight funds, or regulatory policy changes that affect the confidence of participants or the determination of latecomers, it will cause this seemingly exquisite cycle to collapse instantaneously and the value will be zero.He also wanted the protest to be a party to “celebrate coming together” with plans including Samba and brass bands." The authors also railed against the move-to-earn and play-to-earn models often employed in Web3 applications, likening them to phishing schemes.“The partnership will allow us to share our collective resources and experience to yield exciting results, not only for our own organisations, but also for the broader automotive and sports industries.In these models, participants performing an activity – for example walking – can"earn" blockchain-based assets.Keith believes the monument should go in the “amazing” museum, as Thatcher did not compare with the achievements [including becoming the first female PM of the UK] of someone like Isaac Newton, one of the other statues on St Peter’s Square.The life-saving medic had parked the ambulance in a "mostly empty" carpark as they rushed to a home in Southampton where a patient was struggling to breathe.


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