Bitcoin has worn many different labels throughout the years, ranging from “fake internet money” to ‘ponzi scheme” and various other not-so-nice things. The Chinese government warned the public about the MMM Global Ponzi scheme that accepts Bitcoin payments, in an attempt to ensure consumer funds is kept safe from harm at all times. Such risky investments should be avoided at all costs, and this warning is a positive sign for Bitcoin itself.
The MMM Global Ponzi Scheme and Bitcoin
Anyone who is active on social media may have noticed a strong influx of posts related to this new “money making program” called MMM Global. As the name suggest, this is a scheme through which users have to complete daily tasks to earn money, and they will be paid a small percentage of their referral’s earnings as well. Due to this incentive, the MMM Global project has seen tremendous international growth, luring in unsuspecting investors hoping to make a nice profit.
This warning issued by the Chinese government relates to the Chinese arm of MMM Global, and its founder, Sergei Mavrodi. Even though this marketing scheme is actively