The Bitcoin (BTC) versus gold debate rages on this week as reports reveal fake bars fuelled a $2.8 billion corruption scheme.

As Chinese media outlet Caixin reported on June 29 via Nikkei, a loans deal between Chinese financial institutions and Wuhan Kingold Jewelry — with gold as collateral — fell apart when it became known the gold was gilded copper.

Schiff: Bitcoin holders are “stupid”

According to Caixin, “at least some” of the gold bars involved were simply copper, with the…

… Continue Reading at: cointelegraph.com [source]