Reckless – Chapter 7: The Early Years

Chapter 7 of the book Reckless: The Story Of Cryptocurrency Interest Rates is published below. Many of these schemes took place on the Global Bitcoin Stock Exchange (GBLSE), an early Bitcoin based stock exchange platform. None of these schemes reached a scale that is particularly noticeable, except one, one of the highest returning savings schemes, the “Bitcoin Savings & Trust” product. It is not clear whether the scheme was always a ponzi scheme. On 17 August 2012, the Bitcoin Savings & Trust scheme was finally shut down and closed for new deposits.