bitconned

To have your bitcoin account hacked into and all your bitcoins stolen.

My bitcoin account at Mt. Gox has been bitconned.

by billthecat March 6, 2014

Bitcon Scheme

term to describe the Ponzi-like schemes of the cryptocurrency world, especially in terms of bitcoin; gets its name from "bit" as in "digital", and "con" as a twist on "coin", and to describe the type of scheme (so "digital coin" -> "digital con").

Used as an alternative to "Ponzi" because cryptocurrency adherants argue that only fiat currency is used as the ROI for early investors in Ponzi schemes, contrary to the imagined value of cryptocurrencies being used as the ROI in the cryptocurrency world.

"Mark lost all his crypto investments because it was all a Bitcon Scheme."

by JuliusCesarus June 27, 2021