Bitcoin is creating money out of thin air - page 10.

marcuslong

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Quote from: First77 on January 10, 2018, 11:01:36 PM

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all. Angry

Well, That is one of his big wrong statement. Bitcoin will never be a scam because many people are trusting it and they are now gaining profit and a lot of money because of it. Well, We cannot handle bitcoin by our physical hand but we can handle of it by our electronic devices and internet connection. Bitcoin is now accepted in many countries (including Philippines) and it is now exchange in to money. So that, It is not a scam.

jakezyrus

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Quote from: imapessimist on January 20, 2018, 06:17:02 PM

Bitcoin is not creating money out of thin air. Money in money out. Losers and winners. Not everyone can be a winner. Everyone must be careful and make sure they're not a loser. For every cent lost is somebody else's cent gained. No more can be taken out that is put in.

yeah right bitcoin is not directly creating a money rather the people who buy and sells it or in short because of the demand and supply but still majority of us are still winners or gainers as we can still manage to earn something on bitcoin but of course there were few that is unfortunat and probably loose thier invested capital because they dont have the patience to wait and control thier emotions whenever the market is down.

ngefek berat

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This is not real because bitcoin is a decentralized currency that is using a blockchain system and can be used by anyone in the search for income at any time so existence becomes a very important factor to improve life for the better.

kcirnhoj15

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Quote from: Tubsie on January 10, 2018, 11:43:48 PM

Its not Creating money in my Opinion.
Money is being put in to it which gives it value.

Ofc bitcoin is a big treat for regular money, and if people keep putting cash in to Bitcoin the value will only go up.
And create more money Wink

You're right ! Bitcoin is just like a fiat that deposited on a bank.

imapessimist

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Bitcoin is not creating money out of thin air. Money in money out. Losers and winners. Not everyone can be a winner. Everyone must be careful and make sure they're not a loser. For every cent lost is somebody else's cent gained. No more can be taken out that is put in.

Cryptotina

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If BTC is a scam, heck it is the best rewarding scam ever made then, to which I DON'T MIND. Its no scam, no one earn from a scam apart from the scamer.

zarados

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Quote from: First77 on January 10, 2018, 11:01:36 PM

Ex-RBI chairman said, "Bitcoin is creating money out of thin air". It is the biggest scam of all. Angry

Bitcoin is creating money out of thin air, indeed bitcoin looks like that, but the reality is not. People just keep their trust in this technology, and from that trust to produce value. As confidence increases, the value increases, so the person who has entrusted his money to bitcoin, is rewarded with the increase in the value of his assets. How can this be said to be a scam. In the meantime, a $10 fiat money just need a few cents for the making, but given a $ 10 value, does he think this is not a scam?

Photographer

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All the money of the world except gold is created out of thin air. The difference between Bitcoin and FIAT is that with Bitcoin there are rules, Bitcoin is deflationary - has a limited supply. FIAT money can be created in unlimited quantities.

First77

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Quote from: vkwame30 on January 20, 2018, 05:03:28 PM

Mining of bitcoin is not a thin air, and remittance of bitcoin from one end to another too a thin air. Bitcoin in an is a pure business

Bitcoin from 1 cent to $20,000 in 10 years is not "money from thin air" ?? Angry

DanWagner

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Quote from: First77 on January 16, 2018, 05:14:13 PM

Investors “should be prepared to lose all their money” in Bitcoin - Steven Maijoor, chairman of the European Securities and Markets Authority,

https://www.zerohedge.com/news

Well it isn't that bad of advice , you should at least take it into account if you are invested. I don't think it will happen soon but we don't know what kind of regulations are coming to crypto. So while it has a promising future everyone should be careful.

vkwame30

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Mining of bitcoin is not a thin air, and remittance of bitcoin from one end to another too a thin air. Bitcoin in an is a pure business

First77

member

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US dollar, Euro, UK pound, Chinese Yuan, Yen, Indian Rupee and others are digital currency when you pay at shops, bills, online shopping by credit cards or debit cards.

Who says Bitcoin is the only digital currency ??

First77

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Quote from: johny.valencia2 on January 16, 2018, 10:26:43 AM

You need to giggle at these individuals, taking a stab at all that they can to put individuals off association with Bitcoin or other advanced monetary forms. Fragmentary save loaning is conceivably the greatest money related trick ever and enables banks to loan out 10 times what they take in from stores. They simply type numbers into a PC to change your adjust with an advance now that truly is cash out of nowhere.

Top banks suspend accounts of major Bitcoin exchanges in India

MUMBAI: Top lenders including State Bank of India, Axis BankBSE 1.12 %, HDFC BankBSE 1.00 %, ICICI Bank and Yes Bank have suspended some accounts of major Bitcoin exchanges in India, suspecting dubious transactions, three people aware of the development said.

The banks have also sought additional collateral from the promoters of these exchanges on their borrowings and have capped cash withdrawals from the few accounts that are still operational.

The banks are scrutinising current accounts held by top Bitcoin exchanges, a second person said. Action has been initiated against the top 10 Bitcoin exchanges including Zebpay, Unocoin, CoinSecure and BtcxIndia, said four people aware of the matter.

https://economictimes.indiatimes.com

First77

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Quote from: First77 on January 10, 2018, 11:01:36 PM

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all. Angry

Share price of many companies have gone up +1000% in 3 to 5 years. $5 share becomes $50 in 3 years.

Central banks must talk about stock markets also.

gabmen

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Quote from: Genemind on January 16, 2018, 05:17:54 PM

Quote from: First77 on January 10, 2018, 11:01:36 PM

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all. Angry

FUD everywhere, if people will get carried away easily, bitcoin will surely fall. Actually, it's not the news that brings bitcoin down, it's those people who panic on selling when bad news about bitcoin comes out. Some good investors see it as an opportunity to buy more.

Bitcoin already has a solid base so i don't think it will fall because of weak hands panicking. Whales are just waiting to take advantage of this when it happens and when they move, price will eventually be bullish again leaving those who panicked in regret

Genemind

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Quote from: First77 on January 10, 2018, 11:01:36 PM

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all. Angry

FUD everywhere, if people will get carried away easily, bitcoin will surely fall. Actually, it's not the news that brings bitcoin down, it's those people who panic on selling when bad news about bitcoin comes out. Some good investors see it as an opportunity to buy more.

First77

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Investors “should be prepared to lose all their money” in Bitcoin - Steven Maijoor, chairman of the European Securities and Markets Authority,

https://www.zerohedge.com/news

First77

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Silver is $18/ounce. This shows "Bitcoin is creating money out of thin air"

Virtual miner

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Quote from: Rath_ on January 16, 2018, 10:55:50 AM

Quote from: First77 on January 10, 2018, 11:01:36 PM

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all. Angry

I'm surprised that many people actually believe in this. Many people think that Bitcoin is just a number in a computer which can be changed by anyone. What about governments who print more money every time they don't have enough of it to cover expenses? Why people are not against of online banking which in my opinion is less secure than Bitcoin because banks are responsible for the security of your money. If Bitcoin is money created out of air then fiats are too.

I think by creating money in thin air he does not means that it is being mined up in thin year. He means that the value is increasing without any solid backing news or actions. Obviously everyone once in their journey would surely have doubted btc that what if it happens to be a scam? It has actually shown the traits of a great bubble so far. Its graph shows a great ascend so far with no major descents.

nicko122

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Many will disagree with this point of view. People for some reason perceive bitcoin and other crypto currencies skeptically. This way of investing is no worse than the rest, and at the moment is the most profitable.

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