Reckon this has something to do with the Crypto BloodBath?

in #steem7 years ago



200 Million Investors May Have Lost Everything
......................................................................................................................................................................................................
In Largest Ponzi Scheme In China's History

  • According to the Asia Times, at the height of its business operations, online investment company, Qbao.com, had around 200 million registered users. With its "get rich quick" promises and tantalizing tales of up 80% returns, the company had a cult-like following with investors known as Baofen or fans of Qbao, not to mention potential clients clamoring to sign up for the financial firm’s products, leading to as many as 2 million new users every day in late 2017. Even the full name of the company, Qianbao, had the veneer of success, as it translates into "money treasure."
    .
    Unfortunately for up to 200 millions ordinary Chinese, dreams of overnight riches became a nightmare when the founder of the site, Zhang Xiaolei, was placed in police custody after turning himself in just before the start of the new year.

..............
I suppose if you 'bet the rent'....and lost it in a ponzi scheme...and the rent's coming due...cashing in Crypto would make sense?

Being evicted and homeless this winter might be uncompfortable..

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Being homeless this winter for sure is not comfortable...

I'd have to say that betting the grocery money on a sketchy scheme ain't smart.
But then again, smart is an uncommon commodity, these days, whether you're in China or somewhere else.

I wonder what people are going through over there, especially those who sold all they had... If only they knew about steemit

Nice play with words though passing a very informative message

I wonder if this has been what has caused some of the downward pressure on prices! I hope those that lost are able to get back up!

I wonder if crypto trading is a modern day eugenics programme....

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