Topic: Bitcoin scam is comming to an end (Read 4917 times)

might be good for that still would use some safer alternative. to each his own.

yes, I too think that this may become a major use for Bitcoins in the future, when I transfered GBP to $ via XE-Trade last week I got mid market rates less about 1.3% (& no fees from them or from either bank), I wouldn't risk doing this though until the Btc price was a lot less volatile, it would take me a couple of hours (4 at weekends) to get the money from my UK bank account to the Britcoin exchange & they don't have the volumes to be sure to buy Btc there fast, when I used Mt.Goxxed UK deposit option it took about 2 days to appear (they didn't mention this) & the Btc rate had then changed from under $6 to over $9, they said they were going to fix this poor service but seem, as of today, to just have removed being able to do this at all within the UK

I transfered bitcoins that I'd bought for GBP at Britcoin to MtGoxxed & that went smoothly, I checked after about an hour (at W/E) & they were cleared, I'm holding them but if this was to exchange GBP to $ then one could sell instantly & withdraw the funds to a US $ bank account, I have one linked but haven't tryed this yet so need to check what the fees would be, but if less than 1% it would be a winner when the Btc price was more stable & if/when MtG allowed UK bank free GBP FPS 'faster' transfers to them

I transferred $1500 from GBP to $ dollars using bitcoin when it was crashing (with almost zero fees) . I maintained my stored value (I was quick). It doesn't matter how much bitcoin is worth if you want to use it to transfer stored value. That functionality is worth a lot.

Pretty much yes.  What we seen with the giant jump was a lot of money flooding in to a really cool idea that everyone wanted to invest in, because there was no place for that money to go (ie actual investments inside the bitcoin economy) it is now flooding out.  We've seen this happen before in brick-and-mortar economies, Singapore is the best example that comes to mind.  As far as bitcoin acting as a "middle-man" currency, the valuation is only going to affect prices based on the lag time between currency exchanges, and given that in a virtual economy, lag times tend to be very short, we can expect this to have minimal effect on the system over-all.

Bitcoin can be an investment like any other currency / commodity. In these insecure times I chose to do a number of hedges against:

1a. the Euro and the EU is going down the drain
1b. the USD is going the same way
2. BTC is becoming ubiquitous and hence extremely valuable. It might at some point be no fun to purchase valuable BTC for devalued EUR (or Deutschmark)

So I bought Gold, CHF, certain shares and, of course, BTC during the last few years. So far, I am only worried about my CHF investment. Once I feel like BTC bottomed out, I might swap some CHF against BTC.

A troll with 14 post that come and call bitcoin a scam?

I'm sure he is LEGIT and he is not a TROLL!!!!!!

No

Bitcoin: The New and Improved Zimbabwe Dollars.

A currency that you can’t reasonably hold for longer than two minutes without having to fear a drastic loss in purchasing power?

In long term, the only fortune you earned is those you have spent

An image macro is not a proper rebuttal.

somebody is pissed.  after you sunk all that money into hardware when bitcoin was higher than today...
makes you feel like stupid sheeple shit doesn't it?

so now it's someone else's fault for your mistakes, huh?  classic...
go away and don't think about mining again.

When you say "The majority lost big time", I assume you ment yourself. So, who told you bitcoin was an investment vehicle? Because it's not. It's a currency. If you use it as such, there is no loosing.

yep its over, it was a scam, everybody knew except you and know you know too.

Okay... quick go sell your coins!!! sell sell sell!

true, but it has value as a low cost means of cross border exchange where only rapid price variation is a problem.

if I want to sell an investment worth £30,000 to potential investors, I can do so on a global market, and repay later at whatever the exchange has floated to.

Eventually the price will stabalise based on that growing market of cross border exchange + the cost of electricity killing miners. Eventually the price will bobble above and below some break even with regards to mining?

I don't think its a scam. speculation has been an issue. What we want now is stability in prices so we can actually use it for the reason its intended.

In the near future I'm going to offer in bitcoins some investment options in my company. What people like me want is stability at whatever exchange rate.

left

How is it a scam when nobody has been promised anything?

I'm currently losing out big time on mining, due to risks I chose to take.
The creators are not responsible, nor is Satoshi, Mt. Gox or the community.

In similar fashion, if you bought BTC and were disappointed, you have not been "scammed".
You just made a bad short-term investment. You are responsible and nobody else.

I don't take advice from anyone who cannot spell "coming".

would you be willing to make the bet if it was over $12 christmas insread of 6?