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Difference Between Bitcoin & Ponzi/Money Doubling Scheme

Published

7 years ago

April 05, 2017 Follow

kizinho 0 0 653 2

NEWS: Difference Between Bitcoin & Ponzi/Money Doubling Scheme [New Tech News] » Naijacrawl

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The Difference Between BITCOINS & MLM, PONZI, GET RICH QUICK SCHEME.

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BITCOIN in a nutshell is a Crypto Currency, or u can call it Virtual Currency. Currency you can only use on the internet. Now lots of people think that bitcoin is what you invest in and make money. Or double your money sort of scheme. My dear its Outrightly a No.

For Example you have an account with Zenith bank. When your act is opened you are given your account number. Same way when you open an account with Bitcoin Top Exchangers like Blockchain, local bitcoins, coinbase, btc-e, bitstamp etc a Wallet address will be assigned to you. Now Blockchain is your bank and the wallet address issued to you by blockchain when you opened an act with them is your account number.

In Zenith bank, you use your act number to receive, store and send funds. Same way blockchain, coinbase etc allows you use the wallet Address issued to you to receive funds, store and send it out. Now your getting it let's narrow it down a bit. You go to Shoprite make your purchase and pay with your bank ATM card is same way you need something online and then buy from a seller who accepts bitcoin & then pay the seller with bitcoin.

Lots of people always think that at the mention of bitcoins you are talking about Ponzi or get rich quick scheme no. MMM was accepting people to invest with naira payment and also allowed their members invest with bitcoins. Before MMM or any notable ponzi in Nigeria came on board Bitcoin has been in existence.

So my dear now that I have cleared you a bit know that over 2,000 stores in USA, 1,000 firms in China, many services in India, Germany, Italy accept bitcoin as payment mode for goods or service.

difference bitcoin & ponzi/money doubling scheme

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kizinho

Adike Kizito is a top-rated software developer, blogger, sports, and entertainment lover. He is the CEO of these popular websites Naijacrawl.com and Mp3ager.com. He operates his software developing task through Kizzsoft.com,... Read More