"Crypto: The World's Greatest Scam" (youtube)

hatshepsut93

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Quote from: NotATether on March 24, 2023, 10:29:36 PM

Because we, as a community, are building it - maybe not all of us are developers, maybe we don't contribute to Bitcoin Core, maybe we don't write a BIP, maybe we don't work on Layer 2 scaling technologies, maybe some of us are not even running a validation node, but we are all doing one thing in common: We drive adoption in our own sphere of influences. The drive of which people have been doing since the early days of Bitcoin.

How many people would still be doing that if Bitcoin crashed to $10 today? I'm sure most of Core contributors would stay. Some members of this forum with many thousands of merit too. But the rest? I highly doubt that.

Most people are into Bitcoin for profits. If the long-term prospects of Bitcoin price will become bleak, the only use-case that will be left is "decentralized money that can't be frozen", and how many people are interested in that? Considering the fact that overwhelming majority of population never had their bank account frozen.

FahriZah

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First Of All Who Know About Crypto Currency As Well I Think They Never Can,t Say Crypto Is Worlds Greatest Scam Like This I Think Whom Youtuber Said About This Topic Like Bitcoin World's Greatest Scam Her Need New Subscribers And New Viewers That's Why He Make The Videos And He Have No Good Ideas About Crypto Currency.

Little Mouse

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Quote from: o48o on March 25, 2023, 12:26:27 PM

Comments are hilarious too as i expected: Crypto it's bad because "you can't buy car with it" because "It needs to be converted into the US dollar first.".
Funny. I guess gold and stocks are bad and a scam too since you need to convert them to fiat money until you can buy something with them.

Funny part is that all the crypto haters use this argument to criticize cryptocurency. I was fighting with few nonsense in quora Bengali (Osman Ghoni is one of them), and they always put this argument that why people need to convert cryptocurency into fiat when they think cryptocurency is better. I have to agree with some points but there are believers here who still haven't converted their bitcoin into fiat regardless of wherever the price went up.

NotATether

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Quote from: davis196 on March 26, 2023, 02:49:58 AM

I don't want to waste my time watching this 1 hour video. Here's one of the comments below the video.

Quote

If making money is the goal from the 'product', then the product is likely a scam.

Wrong! The goal of Bitcoin isn't "making money". The goal is to be your own bank and to preserve the value of your wealth.
Unfortunately the vast majority of the Bitcoiners and almost all crypto noobs think that the goal of Bitcoin/crypto is to make money fast.
This misconception has to be solved, but on the other hand, greed is the main factor, which leads the people into buying BTC/crypto and pumping the price.
Anyway, haters gonna hate...

It can be solved by constraining the bitcoin price to a fixed range like traditional currencies. Fortunately, this is easy to accomplish by constraining the global hashpower. Governments can create bills that restrict the number of megawatts a mining operation can use at once, which will impose a maximum on the price, while some other governments can give free electricity subsidiaries to miners, up to a certain amount of megawatts, after which they'd have to pay for the electricity at standard rates - thereby imposing a minimum price.

So that means, Bitcoin will oscillate between these two prices, and if they are close enough, not only will "get rich quick" be evaporated in bitcoin, there will be no more volatility as well.

I'll probably elaborate these ideas in another thread.

davis196

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I don't want to waste my time watching this 1 hour video. Here's one of the comments below the video.

Quote

If making money is the goal from the 'product', then the product is likely a scam.

Wrong! The goal of Bitcoin isn't "making money". The goal is to be your own bank and to preserve the value of your wealth.
Unfortunately the vast majority of the Bitcoiners and almost all crypto noobs think that the goal of Bitcoin/crypto is to make money fast.
This misconception has to be solved, but on the other hand, greed is the main factor, which leads the people into buying BTC/crypto and pumping the price.
Anyway, haters gonna hate...

Godday

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I have seen the link you have sent. And I've been watching that channel for a long time ( James Jani ). I saw the video he has uploaded and I saw an outline there that they say Crypto is a scam because they feel a lot of people have been scammed with crypto. Many people have been harmed by crypto. But I dare say that in all things there must be good and bad. There must be many kinds of deception in this world. Granted, we have to admit that there are some negatives about cryptos but just like all other technologies, there are positives about cryptos as well. And even I have thought crypto has done a lot of positive things to the world.

acroman08

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just finished listening to it, and to be honest, it is a good documentary. though I don't really agree with his opinion on bitcoin, I liked that he tackles the issues cryptocurrency has and the concerns people have with it. I can't really blame people(including him) on how he views cryptocurrency, especially on what happened to NFTs and ICOs.

so98nn

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Ah, I think I would not watch this video at all considering what’s been bombarded in the OP itself and also the responses later. This is nothing new in the crypto space because haters are there since the beginning of bitcoin and I have also seen how governments and news media are showing negative side of the bitcoin all the time. Like everything I keep reading about the bitcoin is always 50% lies and 50% not so sure articles. In the forum itself everyday so many articles are referred just this YouTube video where they are talking about negative side of bitcoin and it is not doing what is supposed to do. Apparently it seems such videos and articles are big conspiracies to take bitcoin down.

o48o

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Leading Crypto Sports Betting & Casino Platform

Comments are hilarious too as i expected: Crypto it's bad because "you can't buy car with it" because "It needs to be converted into the US dollar first.".
Funny. I guess gold and stocks are bad and a scam too since you need to convert them to fiat money until you can buy something with them.

Also the argument that scammers are using crypto just tells us that it's working, even scammers want to use it. Criminals usually are using tech that works, you can't blame them for doing that.

Captain Corporate

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It is really not a big deal that some people are against bitcoin. Lets not ask for a unison praise of bitcoin, that is not democracy that we are all in need. We should have divisive sounds and noises that complain and bash bitcoin all the time and we should look for legit reasons to dislike bitcoin among all those troll haters and when we find them then we look inward and see if the legit complaints are true and if we can do anything about it, and ignore all the other trolls. If we all loved bitcoin, then it would be like a cult, and we are not a cult, we are lovers of a financial asset, so of course its usual to have some people who dislike it.

GideonGono

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LOL, I remember when I was knew in cryptocurrency I used to doubt it.
And as time goes by and I learn more on how things really work I found it funny when people or those who says crypto is a scam in general not just shit coins or HYIP in crypto like cloud mining and Ponzi Schemes, but also those cryptocurrency that proven their worth for a long time and still in the industry.
I think they don't really know much that's way they keep on saying that it's a scam.

Little Mouse

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Marketing Campaign Manager |Telegram ID- @LT_Mouse

There are some wrong messages in this video. James tried to explain that we are the people who are trying to get more people into the community as the pyramid scheme works while satoshi even told that after a few years, it was also possible that Bitcoin won't exist. I haven't watched the whole video but they didn't try to get the deep of the technology.
In quora Bengali, I often find one guy spreading nonsense about bitcoin while they even don't know how it works. James videos are informative, I liked how they presented NFT, ICO etc but they had a focus to spread negativity for sure unless I missed anything.

hZti

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Magic

Let him talk about how Bitcoin is a scam. It seems that he only wants to talk about Bitcoin because it gets him clicks. And obviously you get more attention with a conversial topic too. So it’s not wonder he does not want to talk normal about Bitcoin, he just wants to create a interesting video for uninformed people.

Husires

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It is the first time that I see this YouTuber, and is it so influential? I see that the number of subscribers is one million, which is a normal number compared to channels that have millions of subscribers.

I watched the first part of the episode, and it talks about NFT, and to be honest, everything that revolves around these symbols appears absent-minded and closer to fraud or money laundering than being a real investment.
I do not know what his opinion is about Bitcoin, but it will definitely change in the coming years.

karmamiu

sr. member

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What you said OP is true. Although we didn't contribute directly to the core of bitcoin, the mere existence of us supporting as a community being the "demand" is already enough for bitcoin to be alive. As long as there is someone believing bitcoin, it will always thrive through and through.

They can complain but we can't? They have huge advantages when they start their own ways of having income since they all have the resources and exact environment needed to participate in global economy, but how about those who started from scratch and manage to live decently due to bitcoin's existence? We didn't have that much resources to begin with and at the wrong place too, but still manage to learn and participate in the economy through this.

We cannot complain even if they're playing monopoly since the ancient times? But they have the right to complain as we struggle just to put food on our tables while working to have a little bit of investment?

Lorence.xD

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Leading Crypto Sports Betting & Casino Platform

Quote from: hd49728 on March 24, 2023, 10:53:53 PM

Quote from: NotATether on March 24, 2023, 10:29:36 PM

Edit: I misspelled the title. It's fixed now. Although it says "crypto", the video is very much about Bitcoin (and ETH NFTs).

Bitcoin is a part of cryptocurrency ecosystem but it is a most important cryptocurrency. Many people think Bitcoin is all about cryptocurrency and if any scam in cryptocurrency occurs, it is motivated by or related to Bitcoin.

Bitcoin has big impacts on alternative cryptocurrrencies aka altcoins but it is not responsible for all scam in crypto.

I know right, people without knowledge about how cryptocurrency or bitcoin works would most likely to say that it just a scam. The first time I've heard bitcoin my first impression is that its also a scam system due to my curiosity I researched about how bitcoin works and then the first I saw videos with clickbaits which it talks about "don't waste your money in bitcoin". Still I studied how it works and now doing trading and investment.

Maybe try to be smart on not to easily believe on false advertisement and thumbnails online there's always a reliable sources online even here in the bitcointalk forums you could learn here.

Quote

Ethereum with its smart contract ERC-20 chain is a perfect space for scam projects. NFT projects related to GameFi, NFT, Metaverse ... which are bad with their tokenomics designs and many projects have bad security (no security audits), rug pulls. It is more precisely if the Youtube channel owner makes that video focuses more on scam projects on ERC-20 chain, Binance Smart Chain, Solana ... Focusing the video on Bitcoin is not relevant.

And I agree the fact that I have been scammed in NFTs before using ETH because of my inexperienced about it. I minted a fake website of the famous project since it gained popularity with the good background of project and its team. So when they launched their website for minting I have clicked a fake link. That's the time I realized that there's hacker and scammer that could manipulate the accounts of project where they could easily scam people. That's fine I learned from it and good thing I only minted 1.

NotATether

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Quote from: Majestic-milf on March 25, 2023, 01:38:43 AM

I guess the more Bitcoin is thriving, the more haters it's going to garner for itself. But the annoying thing about the video is how confident the guy is in his shaming of the coin. I'm very sorry for his myopic view and knowledge of the digital coin since tricksters like SBF have helped place a negative impression of Bitcoin on people's minds like someone mentioned here but it still doesn't change the fact that through thick and thin, Bitcoin has been surviving since it's introduction in 2008.
It's really a crappy thing to think that American banks could be compared to BTC when only last week there has been news of reputable banks going under. It's such a shame that people still express such poor opinions about the coin tho.

Yeah, he seems like an otherwise great guy with superb VFX... I just don't share his opinions about Bitcoin. However, the NFT and "crypto investing" uselessness, I can relate to those.

mindrust

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Who cares what a random youtuber nut says about crypto? Many other famous youtubers say otherwise. You can't expect people to believe everything you believe anyway... There are people that believe the world is flat for fucks sake and they live among us. Does the earth care about their opinion? No. It keeps spinning like it always has been for thousands of years. In the end, haters gonna hate, the honey badger won't care and keep finding them goodies. Nothing to see here.

Majestic-milf

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I guess the more Bitcoin is thriving, the more haters it's going to garner for itself. But the annoying thing about the video is how confident the guy is in his shaming of the coin. I'm very sorry for his myopic view and knowledge of the digital coin since tricksters like SBF have helped place a negative impression of Bitcoin on people's minds like someone mentioned here but it still doesn't change the fact that through thick and thin, Bitcoin has been surviving since it's introduction in 2008.
It's really a crappy thing to think that American banks could be compared to BTC when only last week there has been news of reputable banks going under. It's such a shame that people still express such poor opinions about the coin tho.

NotATether

legendary

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bitcoincleanup.com / bitmixlist.org

Quote from: moneystery on March 24, 2023, 11:35:57 PM

Quote from: dansus021 on March 24, 2023, 11:05:09 PM

Yes MKBHD is commented on the video. Grin

I actually already share this in the comment in another thread. This guy actually made 3 videos that discuss about Bitcoin word 'Bitcoin' seems to pump the channel a lot. and he said bitcoin is a ticking bomb and could explode at any time.

He said it was like the American banking system was not going to just explode. We know that America's banking system is very fragile and that is the biggest joke in history. It is only a matter of time before this banking system explodes and there will be many people who switch to using Bitcoin.

It already exploded in 2008. And if reports from Wall Street are to be believed, this year too. WTF are they talking about?

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