I personally know that I made a mistake in my past. I crossed a line. Whoever crosses the law must at some point bear the consequences.
This was stated to BNT by Konstantin Ignatov - brother of the missing crypto queen Ruzha Ignatova.
Konstantin Ignatov served 3 years in an American prison with a sentence for fraud and money laundering. Today, he does not deny the charges, admits his mistakes and is trying to repay people by telling about the frauds in the world of money. What is cryptocurrency used for, what are the benefits and risks of digital money, is chipping science fiction or a near-term prospect?
"It was hard in prison, it was a survival - whether physically or emotionally. I haven't seen my loved ones for years. A period in which I realized that a change was needed. The bottom started in prison and I hit it the deepest after I got out and for another 2 years I was with a GPS in the USA. No one was by my side, I was absolutely alone there", said Konstantin Ignatov.
"The main reason I spent three years in an American prison was because that's exactly what I presented to investors at several events around the world and that's exactly how I presented the company. Bitcoin doesn't normally go through a pyramid, through a sales network. Many cryptocurrencies go through sales networks. What happens there - for example, you are given 1% of sales if you recruit new investors and so the pyramid structure is created little by little. And this goes on until new investors can be attracted. At some point we reach the bottom and no one else enters and the whole thing will collapse and many cryptocurrencies are like that", said Ruja Ignatova's brother.
According to him, digital currency and cryptocurrencies are two very different things.
"The only place where Bitcoin is really used, because it cannot be traced, is the dark web. Where the dirt happens, where weapons, drugs, child pornography are bought, where murders are ordered. In order not to be traced, Bitcoin is used and that's how it is paid. Anyone can make a cryptocurrency. Due to the lack of regulations, there is no one to protect investors and at some point people will not have confidence in this market. Big players are already using Bitcoin, this is a reality and Bitcoin will remain. The question is what will happen to it. We have already started using digital money. We already use it, we have a card. At some point, it's not worth printing money."
The crypto queen's brother believes that chipping people in the near future is very possible.
"It sounds like a Hollywood movie, but it will happen - all our documents, cards, money, we will have them on just one chip. The probability of this happening is not small."