Bitcoin scam is comming to an end - page 2.

evoorhees

legendary

Activity: 1008

Merit: 1023

Democracy is the original 51% attack

Quote from: ziemer on September 07, 2011, 07:20:38 PM

Bitcoins lost 60% of its value in 3 months. The scam is coming to an end apparently. Some people made money out of it. The majority lost big time, burning energy down the toilette. Bitcoin is scam. As I told everybody in the first place. Earning money by buying hardware... get a brain, sheep!

Okay OP... are you willing to make a bet then? I'll bet you that on Christmas day this year, the price of a Bitcoin will be greater than $6 USD. If not, I'll send you $100. If it is greater than $6, you send me $100. Are you man enough to stand behind your prediction, or do you just post crap on forums with no accountability?

Now if you agree, how should we send the money? We could use Paypal and lose 3%... but do you even want USD? Are you in another country and need some other currency? Hmmm maybe a wire then? But wait I don't want to give out my bank account info, and it would take a week, and at least $15 in fees would eat up the winnings. If only there were a way to instantly pay with zero fees to anyone anywhere in the world... Undecided

critmass

jr. member

Activity: 81

Merit: 9

It is not a Ponzi scheme, it is a currency market. What drives a currency market is imports and exports. It is really difficult to see the importing and exporting to and from the bitcoin economy, but it happens. If a miner wants to use the bitcoins he mined to pay his power bill, he has to exchange them for USD or Euros because the power company doesn't accept bitcoins as payment. This means that the miner is importing power into the bitcoin economy, which drives the bitcoin's price down. When Joe Average wants to buy some organic coffee from so-and-so bitcoin vender, they have to go to buy bitcoins before they can make this transaction. This is an export, which drives bitcoin's price up. Also, if you buy something in USD then sell it in bitcoins to a bitcoin miner, you are still importing. Likewise, if you buy something in bitcoins then sell it for USD you are exporting. When imports matches exports, you'll have a stable currency.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: ziemer on September 07, 2011, 07:20:38 PM

Bitcoins lost 60% of its value in 3 months. The scam is coming to an end apparently. Some people made money out of it. The majority lost big time, burning energy down the toilette. Bitcoin is scam. As I told everybody in the first place. Earning money by buying hardware... get a brain, sheep!

Spent: $1100 hardware + $650 electric
Made: $3000+

u jelly? Or do you need a new brain?

pekv2

hero member

Activity: 770

Merit: 502

Bitcoin is not a scam.

Bitcoin is another method to buy, trade and sell in so many ways that money cannot do.

And its not coming to an end.

If people are still willing to use bitcoin to buy, trade and sell it is not going to end.

allten

sr. member

Activity: 455

Merit: 250

You Don't Bitcoin 'till You Mint Coin

How funny. I heard about it right around when it peaked at ~$30.
Did I loose some money? Yes.
Do I feel bad about it? No, it was the best money I have ever invested!
Bitcoin potential is so huge. When I invested, my faith was not in the price going up forever, but for many things that are comming and will come from this.
The funny thing is, I just bought another 70 BTC, but I think the price is still way too high for current demand vs. the rate of new money comming in.

Oldminer

legendary

Activity: 1022

Merit: 1001

The gig's up?

Sekioh

full member

Activity: 181

Merit: 100

Not for the silly people who heard the first word of it 3 months ago and bought at $15-20! Tongue

kgo

hero member

Activity: 548

Merit: 500

I thought it was up 700% in six months...

MrGaSp

sr. member

Activity: 418

Merit: 253

A scam is when someone rips you off to better them selves...who ripped the people who lost the money? no one, some gain, some lose, as with all investments. Besides, Bitcoin can actually be used, as in when you get things that are from a scam(if you even do), they tend to not work.

The price is going back up btw..

kpriess

sr. member

Activity: 415

Merit: 250

Money is the root of all evil.

Small investment, small profit so far.. If it goes down the drain I wouldn't lose much..

But for now, it's fun to deal with..

ziemer

newbie

Activity: 16

Merit: 0

Bitcoins lost 60% of its value in 3 months. The scam is coming to an end apparently. Some people made money out of it. The majority lost big time, burning energy down the toilette. Bitcoin is scam. As I told everybody in the first place. Earning money by buying hardware... get a brain, sheep!

Topic: Bitcoin scam is comming to an end - page 2. (Read 4917 times)