EP053 - Bitclub Network - When a deal is too good to be true
The Unconstrained Podcast
English - August 30, 2020 07:00 - 1 hour - 117 MB - ★★★★★ - 7 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Next Episode: #254: Privatisation. Private Profits, Public Problems
In this week's episode, I'm going to talk about the Bitclub Network. This was one of the many scams that hit the Bitcoin community back in around 2015 and how it took what I believe to be a very good business model, a cooperation based system and ability to pool resources to mine and help keep the Bitcoin protocol safe, and turned that into a MLM scam, and now three of the four founders are in jail in New Jersey, and the fourth one was scooped up on an Interpol warrant in Indonesia.