Monday, 9 January 2017

MMM adopts Bitcoin as new currency for payment.

Ahead of January 14 when the pop­ular ponzi scheme, MMM is expected to lift suspension on payment of participants, the operators of the scheme have intro­duced Bitcoin as its cur­rency for payment.

Bitcoin emerged the world’s best performing means of payment in 2016 and is tipped to become the safest asset globally.

The Bitcoin currency had been in demand but had not gained much pop­ularity among Nigerians compared to the MMM ponzi scheme which mil­lions of Nigerians patron­ised in 2016 before it was suspended in December last year.

Although hopes among the participants of the ponzi scheme are still high in Nigeria, many have continued to turn to Bit­coin which had been there but had little patronage like it was with the ponzi scheme.

According to the new arrangement, partici­pants to receive payment in bitcoin, and watch their monies grow in bitcoin which the MMM were allowed to provide help with before the accounts were frozen in December 2016.

A statement to partic­ipants yesterday by the MMM operators on Fa­cebook read: “Due to the recent sharp price fluctua­tions of Bitcoin, MAVRO-BTC is being introduced in the system”.

“So far, we have only had Mavro-Naira in the System. Even though you provided help via Bitcoin, your Bitcoins, anyway, were recalculated into the Nigerian Naira at the ex­change rate at the moment of providing help, and you were credited with Mavro-Naira in your PO.


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