Inevitable failure of cryptocurrency

NOW there has been another massive failure/bankruptcy in the cryptocurrency market, it is just like the South Sea Bubble all over again.

This market is awash with every get-rich-quick clown in the world, and I write from experience.

I myself risked £250 to try out this market and you would not believe how many calls I had from “very nice” gentlemen (?) to help me with my investments, and get back my original investment, plus huge profits. The market is similar to a spider’s web in that, once you are in, it is almost impossible to get out.

The cryptocurrency market is in my opinion a modern day Ponzi or Pyramid Selling scheme, and without a continual flow of new investors the system will crash, which now appears to be on the cards. I have kissed goodbye to my £250 and am just glad that I did not risk a greater sum, which I was expected to do. I would just say, to anyone thinking to join this scam, “do not do it”.

Incidentally, how a security box company can offer their services to store your cryptocurrency I do not know. It is a figment of someone’s imagination (nobody knows who created it) and has no physical characteristics and so cannot be handled or stored in a security box.

Brian George Sandford, Somerset