Gridcoin is a great coin because you're contributing your processing power to science and then getting coins for it. All other coins or more like an exchange of paying for electricity and equipment for coins, which is still significant, but with Gridcoin you're actually making a positive impact on the world. That's very valuable in the long run and I think people will wake up to this very soon.
Topic: Bitcoin is creating money out of thin air - page 7. (Read 1499 times)
In that time it's goes wrong. But it's not impossible. Who knows what's happen in the future. Bitcoin really making money it's ok but not this far.
Don't agree with that statement. Bitcoin has some features which will affect on our lifestyle. For example, you just could have encrypted money and you don't need to save them in the bank. You don't need a safe, all you need is to remember your passwords. It's difficult to remember but that's possible. Easy to save your pass keys in encrypted file and ect.
Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all. 
Bitcoin is creating money out of thing air because of the demand in the market and that makes the value of bitcoins grow even better. It is not a scam because people are working to earn it even those who are running a mining rig is paying for their electricity consumption in order to earn cryptocurrency.
LOL. Obviously, whoever that guy is, doesn't know a thing or two about bitcoins. Bitcoins technically has value and therefore can be trade to money. Someone or something has to benefit from these bitcoins and I don't think you can't get money out of thin air. Buying software is almost the same as buying and selling bitcoins.
The Indian Finance Ministry on Thursday made bitcoin illegal and announced an upcoming ban.
“The government does not consider cryptocurrencies as legal tender or coin and (will) take all measures to eliminate the use of crypto assets,” Finance Minister Arun Jaitley said.
https://www.rt.com/business
Bitcoin eventually gained popularity, people began to pay real money to buy bitcoy so they could conduct business with these sellers on the Internet. Bitcoin creates money from the air or not, it solves each individually. 
Bitcoin does not create money, only central banks create it
Not quite. Money is everything that people accept as payment. Bitcoin IS money. It does not "create" it.
Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.
those who call bitcoin are scams because they do not understand with bitcoin. at this time already many people who believe with bitcoin because they have earned money from bitcoin. people who are new to bitcoin and have not earned money from bitcoin then they have a sense of doubt with bitcoin so they say bitcoin is a scam.
Certainly, they do not understand Bitcoin. By the way, why do not they call fiat money scam? Today many countries have too much paper money, and in reality it does not cost anything. Many people take credits to buy almost everything. Isn’t it the greatest scam?
LOL. Obviously, whoever that guy is, doesn't know a thing or two about bitcoins. Bitcoins technically has value and therefore can be trade to money. Someone or something has to benefit from these bitcoins and I don't think you can't get money out of thin air. Buying software is almost the same as buying and selling bitcoins.
Bitcoin does not create money, only central banks create it
A friend of mine said it is a Ponzi scheme. I am beginning to think so too with all this talk that people must put lots of money in and never take there money out even when the price goes down. So what happens to that money. Somebody else will take it out.
How did Bitcoin get $350,000,000,000 ??
A friend of mine said it is a Ponzi scheme. I am beginning to think so too with all this talk that people must put lots of money in and never take there money out even when the price goes down. So what happens to that money. Somebody else will take it out.
Actually, money is not being created out of thin air. The money has to come from someone's pockets and usually comes from a lot of speculators who have just discovered this business and are willing to take great risks in order to get easy profits. And a lot of them, in fact, end up losing it to fill the pockets of the smartest.
That's GIANT PONZI SCHEME or FRAUD SCHEME
Isn't that the case with fiat as well ? If not, why ?
Not saying bitcoin is a ponzi scheme but it has all the characteristics. FIAT is backed by governments, crypto is unregulated. it is extremely hard for it to lose 50% of it's value in days. Bitcoin could be $1000 in months for all we know, unlikely but definitely possible. Don't know anyone hyping up the USD saying "put all your cash into the dollar! MASSIVE GAINS!". That to me screams, ponzi. FIAT is a terrible store of wealth too though due to inflation but there's much better investments to be had than crypto.
Actually, money is not being created out of thin air. The money has to come from someone's pockets and usually comes from a lot of speculators who have just discovered this business and are willing to take great risks in order to get easy profits. And a lot of them, in fact, end up losing it to fill the pockets of the smartest.
That's GIANT PONZI SCHEME or FRAUD SCHEME
Isn't that the case with fiat as well ? If not, why ?
Actually, money is not being created out of thin air. The money has to come from someone's pockets and usually comes from a lot of speculators who have just discovered this business and are willing to take great risks in order to get easy profits. And a lot of them, in fact, end up losing it to fill the pockets of the smartest.
That's GIANT PONZI SCHEME or FRAUD SCHEME
Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.
Actually, money is not being created out of thin air. The money has to come from someone's pockets and usually comes from a lot of speculators who have just discovered this business and are willing to take great risks in order to get easy profits. And a lot of them, in fact, end up losing it to fill the pockets of the smartest.
Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.
Fiat money is also created out of thin air.
That is so wrong. How can it come out of thin air? People are investing and the investment grows into something bigger. Bitcoin is the new gold. We use money to get more money. In this case we investment to get coins.
I give 1000 kilos wheat and I get a laptop/computer looks better. Barter system is the best form of decentralization.
Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.
Clearly he's mistaken. Earning through bitcoin requires knowledge and speculation and so is stocks, so it doesn't mean that stocks is viable whereas btc is a scam. Hardwork and capital investments are essential to earn profits through btc. If the market suppl were more it would be much more stable. Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.
You can explain to the chairman how the market works. The value of bitcoins is increasing because of supply and demand in the market, bitcoin is not a scam because there are a lot of people who are investing on it and the supply is decreasing, that is the reason why the value is very expensive because there's so much demand on it.
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