I looked at the Economist this morning, and the cover story was on Scams, especially online scams and crypto-currency and related matters. The lead-in was gentle, a story about the president of a small bank who was found by an online scammer, a woman (maybe), who convinced him to invest in her crypto scam. He went in a little way and got a good return, so he plunged in further, then he lost everything of his savings, savings for child’s education, church treasury, and $47m from the bank that he ...
When I first heard of Bitcoin, I called it “tulip bulbs”, referring to the financial balloon in trading tulip bulbs in the Netherlands in the 1630's. The top of the market was something like 2500 guildhall, but they came back to earth. It doesn't bother me, if people want to thrown money away, but one of the a reasons for government to exist is to stop some people from throwing their money to people who are engaging in fraud. Unfortunately, the U.S. Government has allowed many people ...
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