The U.S. Government doesn’t care about your losses. They don’t care if you get scammed. What they care about is their own power, keeping it, and controlling you.
There is no better illustration of that than in the disparity in the sentences of Ross Ulbricht and Joshua Homero Garza.
It’s been three years since Garza’s actions and even longer since Ulbricht’s arrest so a recap is in order. Joshua Homero Garza, better known simply as Josh Garza was the CEO and founder of GAW Mining, which initially sold mining hardware. Eventually they started to rent out hashing power in the form of “cloud mining” the problem was, they didn’t have the mining capabilities they claimed to have.
Unlike hardware and other cloud mining solutions, Garza claimed that his “hashlets” would never become obsolete and would always be profitable. A claim anyone who has spent any time around anything technology related would tell you is impossible.
So, Garza and his band of cronies started paying out old investors with new investor money. You can probably guess what happened next. The Ponzi band-aid could only last so long before there wasn’t enough to go around so Garza started the next phase of his scheme: Paycoin.
Paycoin was billed as a Bitcoin killer. A chance for investors to get in cheap and see the kind of returns early bitcoin adopters got to enjoy. It touted partnerships with VISA, MasterCard, Amazon and Target. It got a long article on the Wall Street Journal website. It was backed by investment firm Cantor-Fitzgerald.
https://coinjournal.net/josh-and-ross-the-government-doesnt-care-about-you/