Topic: Forbes Magazine calls Bitcoin a "Great Scam" - page 4. (Read 911 times)
People have been calling bitcoin a scam at worst and a bubble at best since it was released. It's definitely not a scam, and I don't believe it's a bubble either. Unlike many other altcoins where the price is simply speculative, bitcoin is traded against in exchanges millions of times a day and is accepted by real-world merchants, which gives it value.
Well most of banked based systems say that bitcoin is a scam because it will affect their business once bitcoin established its name in the whole world.
I don't even know how these uneducated fools are able to claim they're journalist or experts at anything oh well, they're going to be lost when blockchain disrupts every industry and way of life to make humanity better.
International magazines keep saying the same Bitcoin scam and many govt gave notice to bitcoin warnings if bitcoin reach 1 million dollars then also they will say it is scam
Does anyone on this forum actually know how to read? The author says, in plain language, that bitcoin is NOT a scam. The way bitcoin is being marketed is the scam.
The author postulates that people (like the cheerleaders on this forum and elsewhere) are presenting this computer generated number as if it has some intrinsic value. That is the scam because it’s simply not true.
Cheerleaders on this forum would have you believe that the US dollar is not backed by anything either and that is simply not true. The US dollar is backed by consumer confidence in a government with the largest military infrastructure in the world that is willing to fight to ensure its survival.
Bitcoin is backed by the belief that no one will change bitcoin at some point in the future to have more than 21m coins (which may or may not be true). They tell you that scarcity creates value. If scarcity creates value then let me sell you some of my belly button lint. It’s pretty scarce so it must be priceless.
His argument is: If you don’t fall for the “short supply makes it valuable” argument then bitcoin is just a number like any other number. It has no value.
I don’t know how to make it any more clear for you people.
The article title is nothing but click bait. Bitcoin in its current form is something which every individual can analyze and evaluate. If the way Bitcoin cheerleaders are marketing it is a scam, so is the way the detractors like Jamie Dimon go about disparaging it. The media unfortunately highlights only the extreme views of both sides.
Of course it’s click bait BUT if the article was talking about “The Great Bitcoin Scam” and it was about how evil Butterfly Labs was or what a scumbag Mark Karpeles was everyone would cheer the author for his insight.
All of these idiot sig campaigners are not even reading the article and commenting on it so they can earn a little beer money. At least attempt to read it before you comment is all I’m sayin. Earn your beer money. Either that or they have the comprehension skills of a 10 year old.
I think this is what the profit bitcoin brings so crazy there is not anything that can be done besides ponzi so calling bitcoin is great scam is reason
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International magazines keep saying the same Bitcoin scam and many govt gave notice to bitcoin warnings if bitcoin reach 1 million dollars then also they will say it is scam
Does anyone on this forum actually know how to read? The author says, in plain language, that bitcoin is NOT a scam. The way bitcoin is being marketed is the scam.
The author postulates that people (like the cheerleaders on this forum and elsewhere) are presenting this computer generated number as if it has some intrinsic value. That is the scam because it’s simply not true.
Cheerleaders on this forum would have you believe that the US dollar is not backed by anything either and that is simply not true. The US dollar is backed by consumer confidence in a government with the largest military infrastructure in the world that is willing to fight to ensure its survival.
Bitcoin is backed by the belief that no one will change bitcoin at some point in the future to have more than 21m coins (which may or may not be true). They tell you that scarcity creates value. If scarcity creates value then let me sell you some of my belly button lint. It’s pretty scarce so it must be priceless.
His argument is: If you don’t fall for the “short supply makes it valuable” argument then bitcoin is just a number like any other number. It has no value.
I don’t know how to make it any more clear for you people.
The article title is nothing but click bait. Bitcoin in its current form is something which every individual can analyze and evaluate. If the way Bitcoin cheerleaders are marketing it is a scam, so is the way the detractors like Jamie Dimon go about disparaging it. The media unfortunately highlights only the extreme views of both sides.
Bitcoin is not a scam but the way people use it is something developers cannot control like the promotions of mining site which do not really give bitcoin they will ask you to upgrade your system but after buying their so called equipment you will receive nothing. This is just a sample of scam that involves bitcoin and I'm sure there are more illegal activities that uses the name of bitcoin. They are right bitcoin is not a scam only the way it is being marketed.
International magazines keep saying the same Bitcoin scam and many govt gave notice to bitcoin warnings if bitcoin reach 1 million dollars then also they will say it is scam
Does anyone on this forum actually know how to read? The author says, in plain language, that bitcoin is NOT a scam. The way bitcoin is being marketed is the scam.
The author postulates that people (like the cheerleaders on this forum and elsewhere) are presenting this computer generated number as if it has some intrinsic value. That is the scam because it’s simply not true.
Cheerleaders on this forum would have you believe that the US dollar is not backed by anything either and that is simply not true. The US dollar is backed by consumer confidence in a government with the largest military infrastructure in the world that is willing to fight to ensure its survival.
Bitcoin is backed by the belief that no one will change bitcoin at some point in the future to have more than 21m coins (which may or may not be true). They tell you that scarcity creates value. If scarcity creates value then let me sell you some of my belly button lint. It’s pretty scarce so it must be priceless.
His argument is: If you don’t fall for the “short supply makes it valuable” argument then bitcoin is just a number like any other number. It has no value.
I don’t know how to make it any more clear for you people.
Bitcoin because of its high price, which is based only on the speculative speculative demand for it, can be called a financial bubble, but not fraud. In bitcoin, there is no deception, so there is no fraud here. Bitcoin is based on real advanced technologies, it is a really existing digital currency, which is recognized as a measure of value and means of payment by many countries.
International magazines keep saying the same Bitcoin scam and many govt gave notice to bitcoin warnings if bitcoin reach 1 million dollars then also they will say it is scam
Actually, i do prefer to let them create that kind of stereotype about BTC because these people are the ones who complicates regulations too much and would likely to create problems. Let people who have open mind maximize BTC.
Yeah! you are correct mate. But for me and the entire bitcoin community is just a blackpropaganda to convince people not to join in bitcoin. Criticism is always there and they only thing you is nevermind because you will gain nothing. One thing i can say in this kind of people they are envious.
the article I think is just an expression of heartache someone who suffered a loss, the author has the right to say anything...
the most important I already feel the benefits of Bitcoin
the most important I already feel the benefits of Bitcoin
It makes sense since Forbes has the back of wealthy people who have a lot at stake in the current financial system. Of course they don't want Bitcoin to replace the old system since they would lose tremendously
You sure about that? Some citing please?
Actually, i do prefer to let them create that kind of stereotype about BTC because these people are the ones who complicates regulations too much and would likely to create problems. Let people who have open mind maximize BTC.
Yeah! you are correct mate. But for me and the entire bitcoin community is just a blackpropaganda to convince people not to join in bitcoin. Criticism is always there and they only thing you is nevermind because you will gain nothing. One thing i can say in this kind of people they are envious.
Actually, i do prefer to let them create that kind of stereotype about BTC because these people are the ones who complicates regulations too much and would likely to create problems. Let people who have open mind maximize BTC.
The author already indicated that Bitcoin is not a scam. Instead, it was being sold more of a scam. And I have to agree with his article, as it was clearly on point. He just laid out the truth behind the business of Bitcoin or would I rather say digital currencies. In reality, majority of the general public are not really aware what was the reason behind all current events that is happening with the digital economy. 'Scammers' continue to lure unsuspecting people because of its heralded market value. As an ambitious person, there's a huge possibility that they will fall on what was handed (spoonfed) to them, as most of us would want to make a fortune out of a small value of investment. At the end of the day, these so called 'Scammers' are getting physical money, with a stable value that you can hold and control for a long period of time while the price stays the same. Wherein, Bitcoin is just an infinite number created from a source code with no assurance or stable price which one day might be diminished.
Exactly right! I was wondering if someone was going to give an honest appraisal of the article instead of just doing what the Legendary staff members want people to do and: “suggest no one read this article, you will be wasting your time.” I would be embarrassed to be a supposedly respected staff member of this forum and give that kind of self serving advice to forum visitors. Shame on you. Let people find out for themselves.
it seams that they want to create a cult called, BTC. you cannot say anything with a relative negativity against BTC because you are called, FUD-er, troll and so on....
this article has common sense and it says the truth.
It makes sense since Forbes has the back of wealthy people who have a lot at stake in the current financial system. Of course they don't want Bitcoin to replace the old system since they would lose tremendously
Nah... it's just this author. For a long time now Forbes is covering the Bitcoin topic with some really great articles by authors with a lot of knowledge such as Roger Aitken and Laura Shin see here https://www.forbes.com/search/?q=bitcoin#2977265f279f
The author in the OP is just a jealous dude and has the interest to talk bad about Bitcoin ( i think it's his only article about BTC)
The author already indicated that Bitcoin is not a scam. Instead, it was being sold more of a scam. And I have to agree with his article, as it was clearly on point. He just laid out the truth behind the business of Bitcoin or would I rather say digital currencies. In reality, majority of the general public are not really aware what was the reason behind all current events that is happening with the digital economy. 'Scammers' continue to lure unsuspecting people because of its heralded market value. As an ambitious person, there's a huge possibility that they will fall on what was handed (spoonfed) to them, as most of us would want to make a fortune out of a small value of investment. At the end of the day, these so called 'Scammers' are getting physical money, with a stable value that you can hold and control for a long period of time while the price stays the same. Wherein, Bitcoin is just an infinite number created from a source code with no assurance or stable price which one day might be diminished.
Exactly right! I was wondering if someone was going to give an honest appraisal of the article instead of just doing what the Legendary staff members want people to do and: “suggest no one read this article, you will be wasting your time.” I would be embarrassed to be a supposedly respected staff member of this forum and give that kind of self serving advice to forum visitors. Shame on you. Let people find out for themselves.
The author already indicated that Bitcoin is not a scam. Instead, it was being sold more of a scam. And I have to agree with his article, as it was clearly on point. He just laid out the truth behind the business of Bitcoin or would I rather say digital currencies. In reality, majority of the general public are not really aware what was the reason behind all current events that is happening with the digital economy. 'Scammers' continue to lure unsuspecting people because of its heralded market value. As an ambitious person, there's a huge possibility that they will fall on what was handed (spoonfed) to them, as most of us would want to make a fortune out of a small value of investment. At the end of the day, these so called 'Scammers' are getting physical money, with a stable value that you can hold and control for a long period of time while the price stays the same. Wherein, Bitcoin is just an infinite number created from a source code with no assurance or stable price which one day might be diminished.
I'm very interested in what is fraud itself? Personally, I do not see any deception in Bitcoin. Not without that, there are certainly bad people on the sites, but you need to be careful and everything will be fine.
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