Bitcoins are a fake currency that is nothing more than a confidence scheme.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: Sindelar1938 on July 20, 2014, 05:36:53 AM

Statements like the above make it obvious that the OP really doesn't get bitcoin
Some of us believe that fiat currencies are the ultimate ponzi schemes

on a side note told a bunch of people this week about bitcoin...efforts this year that I told last year

a) they are p/o'd that I got in to it mining last year

so

b) they think (all 10 or so of them ) it is a ponzi scheme

(imho it is because I got in it last year and they have heard it is ponzi scheme on the news/inet etc that is where the 'noise' is
that would mean if I was correct ...they would not get as good a deal as they could have ..if they would have accepted this
last year..ie ....it is a ponzi scheme don't think about it...anymore..or they will be annoyed)

I feel like the guy in Florida who had an 'air raid shelter" from the 60's and everyone laughed at him till that 2 week period
of the 'cuban missle crisis'

just gonna avoid the topic if the variety of folks I've told ask...and wait for the 'inevitable' 'why did you not twist my arm
and make me buy bitcoin back in the olden days of 2013/2014?

doomed I am

Searing

FUR11

sr. member

Activity: 378

Merit: 250

FURring bitcoin up since 1762

Quote from: Catmoonglow on July 20, 2014, 10:56:14 AM

Quality coverage right here, from John Crudele no less, the NYPOST financial journalist that brought you such solid scoop as "Let's make up a conspiracy about faked census unemployment numbers", which he shamelessly references in this very article, in a series of irrelevant answers to earnest questions.
http://mediamatters.org/tags/john-crudele

Sadly, it's nothing new that certain media make up reports just to gain exposure. Bold claims about something just sell better than an unbiased or balanced report about a topic. It's always the way that you only hear those people who scream the loudest. Not the moderate voices that take a look at both sides and offer a reflected opinion...

Catmoonglow

full member

Activity: 147

Merit: 100

Quality coverage right here, from John Crudele no less, the NYPOST financial journalist that brought you such solid scoop as "Let's make up a conspiracy about faked census unemployment numbers", which he shamelessly references in this very article, in a series of irrelevant answers to earnest questions.
http://mediamatters.org/tags/john-crudele

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: CryptoCurrencyInc.com on July 20, 2014, 05:12:01 AM

"Bitcoins are a fake currency that is nothing more than a confidence scheme."

A quote from this article:
http://nypost.com/2014/07/19/dear-john-take-this-bitcoin-of-advice/

LOL New York Post. I wouldn't use that rag to line my cat litter box.

Bitcoinpro

legendary

Activity: 1358

Merit: 1000

"Pro" is strictly a marketing term.

Lauda

legendary

Activity: 2674

Merit: 3000

Terminated.

Is someone mad that they didn't buy into bitcoin at the right time? Wink

BitcoinMillionaire

full member

Activity: 168

Merit: 100

Bling Bling

Woah woah, don't anyone say my precious coins are worthless! You clearly have never bathed in a tub filled with bitcoin!

Fiftysven

newbie

Activity: 38

Merit: 0

Quote from: BayAreaCoins on July 20, 2014, 09:30:16 AM

Internet Pirate Money ftw!

https://i.imgur.com/hwjsZ8u.jpg

Hahahaha y give me more of that Grin

BayAreaCoins

legendary

Activity: 4018

Merit: 1250

Owner at AltQuick.com

Internet Pirate Money ftw!

Xch4ng3

hero member

Activity: 661

Merit: 502

Quote from: TheDragonSlayer on July 20, 2014, 08:14:22 AM

Quote from: Xch4ng3 on July 20, 2014, 07:23:58 AM

Quote

Their only value is that there are a few layers of gullible people who are willing to accept them as some form of payment.

Oh right, let's forget about the fact that there's no possibility of fraudelent transactions, losses to businesses because of these chargebacks, way lower processing fees and almost instant confirmation.

You forget about crime and hacker stealing wallet..

1. Encrypt your wallet.
2. Use 2FA if you're using an online service to hold your coins (which you shouldn't be doing anyway.)
3. Use something like Keyscrambler to avoid your keystrokes being monitered in the case of a keylogger trying to figure out your passphrase.
4. Don't download untrusted files and don't visit dodgy links.
5. Use a decent AV / anti-malware suite on your PC.

commandrix

hero member

Activity: 798

Merit: 1000

Quote from: stompix on July 20, 2014, 09:20:34 AM

Isn't it about time we stop bothering with idiots who really don't get the whole picture?

The problem is that those "idiots" are often rich and powerful men who are either politicians, or Wall Street types who have a tight relationship with politicians. So we pretty much have to deal with them by either educating them, or finding a way to work around them.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Isn't it about time we stop bothering with idiots who really don't get the whole picture?

commandrix

hero member

Activity: 798

Merit: 1000

I'd say Bitcoin is about as "fake" as the dollar with fewer of the problems that come with having an inflationary currency and a government spending money it doesn't have. The U.S. government COULD pay off all its debt, but that would mean printing off so much money that the value of the dollar would never really recover. People are really using Bitcoin to buy and sell things and that means Bitcoin is a genuine medium of exchange.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: boraf on July 20, 2014, 08:51:59 AM

Quote from: CryptoCurrencyInc.com on July 20, 2014, 05:12:01 AM

"Bitcoins are a fake currency that is nothing more than a confidence scheme."

A quote from this article:
http://nypost.com/2014/07/19/dear-john-take-this-bitcoin-of-advice/

His assessment on confidence scheme is correct. That alone doesn't make it fake currency.

I don't know where you are from, but the American idiom of a "confidence scheme" is the intent to defraud. There is provably no such intent with Bitcoin.

boraf

full member

Activity: 315

Merit: 103

Quote from: CryptoCurrencyInc.com on July 20, 2014, 05:12:01 AM

"Bitcoins are a fake currency that is nothing more than a confidence scheme."

A quote from this article:
http://nypost.com/2014/07/19/dear-john-take-this-bitcoin-of-advice/

His assessment on confidence scheme is correct. That alone doesn't make it fake currency.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

John admits to his ignorance about Bitcoin. It's been around for over 5 years. Would you go to a doctor that hasn't read any medical journals for over 5 years? He's wilfully ignorant and calls himself a finance writer. Oh yeah, it's a (faux) News Corp publication.

TheDragonSlayer

sr. member

Activity: 273

Merit: 250

Quote from: Xch4ng3 on July 20, 2014, 07:23:58 AM

Quote

Their only value is that there are a few layers of gullible people who are willing to accept them as some form of payment.

Oh right, let's forget about the fact that there's no possibility of fraudelent transactions, losses to businesses because of these chargebacks, way lower processing fees and almost instant confirmation.

You forget about crime and hacker stealing wallet..

Xch4ng3

hero member

Activity: 661

Merit: 502

Quote

Their only value is that there are a few layers of gullible people who are willing to accept them as some form of payment.

Oh right, let's forget about the fact that there's no possibility of fraudelent transactions, losses to businesses because of these chargebacks, way lower processing fees and almost instant confirmation.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: Sindelar1938 on July 20, 2014, 05:36:53 AM

Statements like the above make it obvious that the OP really doesn't get bitcoin
Some of us believe that fiat currencies are the ultimate ponzi schemes

there is alot need for more education. just be patient

Sindelar1938

hero member

Activity: 490

Merit: 500

Statements like the above make it obvious that the OP really doesn't get bitcoin
Some of us believe that fiat currencies are the ultimate ponzi schemes

Topic: Bitcoins are a fake currency that is nothing more than a confidence scheme. (Read 1745 times)