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Is Cryptocurrency the World’s Greatest Scam?

Cryptocurrencies have been the subject of much debate in recent years, with some claiming that it is a revolution for the internet and countless industries as we know it, while others liken it to the greatest Ponzi scheme in human history. This has been fueled by a bizarre onslaught of celebrity endorsements, as well as eye-watering numbers and headlines.

On February 25th 2021, a digital artwork by artist Michael Joseph Winkelmann (otherwise known as Beeple) was put on auction, starting the bidding at 100 dollars and eventually selling for a record-breaking final bid of 69 million dollars. This has been one of the many headlines emerging from the world of cryptocurrencies.

The debate surrounding cryptocurrencies continues, with some arguing that it is a revolutionary technology, and others claiming that it is nothing more than a Ponzi scheme. Those in the latter camp argue that people only make money because some other sucker lost more, and that it is all just a game of chance. While the potential of cryptocurrencies is undeniable, it is important to be aware of the risks that come with investing in them. Ultimately, it is up to each individual to decide whether or not they believe in cryptocurrencies, and to make an informed decision based on their own research.

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