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Tuesday, February 10, 2015

More Bitcoin Drama in a New Bitcoin Scam that Netted the Scammer $3 Billion HK Dollars (about $387 USD)

Okay, here we go again, another Bitcoin scam in Asia. This time in China, people were investing their real money into some Bitcoin scam expecting HUGE returns on their investments but it was all for naught. This scheme, which is not really laid out in the article about how it was supposed to go unfortunately. It just says people were investing their money and expecting returns of 200 to 300 % in about 4 months. My daddy alway said, "if it sounds too good to be true, it probably is!". DUH! Last September, this one investor invested, $1.3 million HKD(Hong Kong Dollars) and was told that in 4 months she would get 200-300 % return. Well, it never happened, she lost ALL of her money. All in all, after the swap options company closed down at least $3 Billion in HKD was lost. Dayum, that sure is a lot of cheddar. hahahaha Bitcoins is virtual currency, which means it only exists in cyber space, there isn't any real coins somewhere in a safe nor is there any paper money hidden in a mattress somewhere. People who own Bitcoins keep their "coins" either on their hard drive or smart phone or virtually. Bitcoins was invented  in 2009 by using a computer algorithm by one or more anonymous people. (Rolls eyes, sounds fishy to me. hahaha) Bitcoins were valued at $1200 USD back in 2013 at the height of their hay day, but now sadly, Bitcoins are only worth $285 USD. This is the 2nd major Bitcoin loss incident in recent times, a few months ago, in Japan, when MTGox closed down suddenly and unexpectedly, around $500 Million dollars was stolen. Wow, someone is getting rich on all of these fake ass coins and it is not the investors!!! So sad!!!

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