Sözcü Newspaper columnist Ege Cansen wrote about crypto coins and Thodex profiteering in today’s column.
Sözcü Newspaper columnist Ege Cansen wrote about crypto coins and Thodex profiteering in today’s column.
Here is Ege Cansen’s article titled ‘Crypto money glass’…
The name on the agenda for a week was crypto money fraudster Faruk Fatih Özer, who fled abroad with $ 2 billion. Cambaz means a person who deals with the business of buying and selling risky goods. (See: Horse Walker) According to reports, the crypto geek has set a trap for people who want to make a lot of money in a short time. Perhaps this cheater did not have a plan to defraud or victimize anyone when he started a company called Thodex. He was just a dreamer. However, the calculation at home did not fit the bazaar. As they lost money, it made things even more risky. It began to sink more. He started to live a luxurious life by spending every money he could get his hands on as if it were his own and he got used to this life. Then “the fish that sank goes sideways; let me save myself,” he said, fleeing abroad with a large sum of money.
THIS IS NOT A CRYPTO-CURRENCY DISASTER
This fraud has nothing to do with the disaster that is likely to happen to crypto money investors. Those who invest in crypto money take the risks knowingly. This risk, which investors deliberately take, is that the value of the crypto money they buy will fall. If such a thing happens, no investor has the right to blame the intermediaries in the trading of this “security”. The crypto-money business does not end in the world and in Turkey, and in terms of its use (even if it is virtual), crypto coins should be referred to as “securities”.
BITCOIN AND OTHER CRYPTOCURRENCIES
In order to prevent these fraudulent incidents and victimizations, their purchase and sale should be carried out exclusively by “intermediary institutions” operating under the supervision of the CMB. Virtual securities created and stored in a digital environment called crypto-money are not considered “money”, that is, “currency”. In addition, the “crypto money” produced by private individuals and the “digital money” to be implemented by central banks are also different products. The fact that cryptocurrencies are not “currency” does not mean that they are worthless or that their value will not increase. Of course, it cannot be said that its value will increase. The increase in the value of crypto coins consists of the economy’s theory that “value arises from negligence”. The process of producing “Bitcoin”, the most famous of the cryptos, on the computer is called “mining”. Using mathematical logic, an infinite amount of Bitcoin cannot be created. Its production is already becoming more and more difficult and the process consumes a lot of energy. It is not known whether the same applies to other cryptocurrencies. NO COMPANY IS RUN AGAINST THE STATE
States do not share the power to “release taxes” with anyone. The fact that a state produces a “national currency” (legal tender) through its own central bank also allows it to come out of thin air (seigniorage). That would actually be a tax. Governments do not share these privileges with anyone, and therefore cryptocurrency will not be approved as a “currency”. However, reliable cryptocurrencies, which are difficult to produce, cannot be prevented from being valued like precious stones as investors say “the price of this will increase even more”.
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