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Bitcoin Exchange Collapses, Characterized as Ponzi Scheme

Natural News

By Mike Adams
Natural News Editor

February 27, 2014

In April of 2013, I warned Natural News readers about investing in Bitcoin, saying on the record:

The bitcoin infrastructure is subject to the whims of just one person running MTGox who can arbitrarily decide to shut it down whenever he thinks the market needs a "cooling period." This is nearly equivalent to a financial dictatorship where one person calls the shots.

Just two days ago, the largest bitcoin exchange MTGox suddenly and without warning shuttered its doors, blocking all customers from accessing their accounts which are collectively worth hundreds of millions of dollars.

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