Topic: Is Bitcoin a scam (Read 949 times)

Maybe newbies are the one calling bitcoin as scam especially if their expectation towards earning easy richest will not meet. We see a lot of this and this people crying because they lose their money from their wrong decision to trade bitcoin at wrong time. If newbies could just do a good research on what they want to know about bitcoin for sure those expressions saying bitcoin will not came in their mouths. But they would correct their approach and say that bitcoin is good investment especially they could able to see the result of the efforts they exert for researching.



Scam attributes of what? Scammers just use that as currency and bitcoin name has been dragged then include it as part of scam. That's why research is important so people will not create a wrong impression on bitcoin since if you just think about bitcoin is all about profit and loss then maybe you cannot see its real potential or usage.

That's what many who think Bitcoin is a scam thinks, they only feel Bitcoin is all about making profit and they fail to understand that it is either you gain or you lose. "Some" of those who experience the positive side of Bitcoin will tell the novice the sweet part of Bitcoin investment and leave out the ugly side of it and I believe that in as much as it works for you it can't work for the next person the same way it went with you.
And I agree with you that not everyone can say good about Bitcoin especially those who fail in investing in Bitcoin and they are the type that send negative information or news about Bitcoin being a scam.

No, Bitcoin isn't a scam, it's just a currency. It works pretty well for what it was designed to do. However I am not saying you can't lose money on it. If you don't believe in the technology then definitely don't invest more than you can afford. Bitcoin is not really about money or investment. The coins have value and people do invest in them. If you understood Bitcoin, you would not ask that question. Bitcoin is nothing more than a very secure digital currency. A cryptography based currency that is in my opinion less of a scam than any fiat currency that preceded it. People who says bitcoin is scam is because they lack the knowledge, When they can’t keep up with the fluctuating rates of bitcoin, they think that they are facing losses as bitcoin is a scam.
  However, ask yourself questions about the current monetary and financial system which is one of total opacity and which allows corrupt individuals to embezzle hundreds of billions of dollars every year. Is this unfair system for the people a scam? It's up to you to do your research and find the answer you consider to be right. I already have my own ideas on the matter. Additionally, not all places accept bitcoin as a means of payment, so one should be careful and investigate the place where the bitcoin will be used.

Of course Bitcoin possess the scam attribute. In the land of the living it is right to suit yourself however you understand the life. One saying Bitcoin is a scam is right cos of the nature of the market. Everyone cannot say good about Bitcoin, most people have experience the worse aspect of Bitcoin in various dimensions. But one thing I'm so sure is guaranteed in Bitcoin market is "profit" and "loss".

Not Bitcoin, but how certain people utilize it. Like any great creation, it can be abused, but that doesnt make it bad. Bitcoin is a revolution in money thinking.

Skepticism is healthy. However, those who disregard Bitcoin are missing the point. Blockchain is one of the safest, most open technologies. Blaming Bitcoin for frauds is like blaming the internet for one lousy site. Bad actors, not tools, are the issue.

The smart money is learning. Learning about money and Bitcoin. Giving yourself digital power is the goal, not getting rich quick. Smart investors realize the risks. They know when to act and see Bitcoin's long term. Clearly, a sensible, informed investment is vital.

Bitcoin is not a scam, it depend on the business involved, beside bitcoin is a legit business that connect world together as one price in the ecosystem.

The people that will be making such a reference that bitcoin is a scam is people who does not value bitcoin and who is against bitcoin existence so from my understanding many people has worked with Bitcoin like holding bitcoin for period of time, investing in Bitcoin for long season many people has done that and they can testify of the goodness of Bitcoin... so people who is condemning Bitcoin saying that bitcoin is a scam it is left for them so there are people who is against Bitcoin and they are not ready to test the abilities of Bitcoin investment.

that is another reason why we not need to believe anything that will see online because some bloggers I have a fake information so what they need is for you to click on their side and read and for them to make money from viewing their article, assuming you will invested when you know Bitcoin you will become a billionaire in Bitcoin, so you have also noticed bitcoin is all about and they know quite well that bitcoin is a sincere digital currency, if you want to compare and also condemn the attitude of Bitcoin since it existence by now nobody would have embraced Bitcoin because it is a scam, but bitcoin has proved them wrong the many people today is into bitcoin investment due to is the showing a good evidence and there's so many other people have tried to understand the systems of Bitcoin knowing that the price is not constant and it is based on the price increasing and decreasing what makes some people to think that the Bitcoin is a scam whereas bitcoin is on it own to help easy transaction of currencies across other nations.

you will not actually blend some people who is into a bitcoin investment newly because I can see that what makes some people to think that bitcoin is a scam is when they have not understand the regulations of Bitcoin and when they invest in Bitcoin when the price is high they may think that that is the way the price may be going high and if the price happen to depreciate or reduce in the market they will conclude that Bitcoin is a scam based on they have not make a profit during the investment... so when looking at it will notice that no one who has invested in Bitcoin and make a profit in Bitcoin will you say that Bitcoin is a scam based on they have already benefited from it.

many people knows about Bitcoin but the thing is that some of them who are saying that bitcoin is a scam have not invested in Bitcoin before why they are condemning Bitcoin may be based on people have scammed them with their payment of Bitcoin and they may think that as they paid their scammers with Bitcoin that means bitcoin is a scam, so this is the Aspect people contradict bitcoin technology with a scam because you investing in Bitcoin or you purchasing the Bitcoin and left it in your wallet and the Bitcoin vanish from your wallet it is when you say a bitcoin is a scam but you purchase a bitcoin bitcoin is still there and continue to be there in your wallet, the only thing that will happen to it is that when the price decreases it will affect your Bitcoin in your wallet and investing to make a profit you'll be a targeting when the price is on dip and purchase and sell when the price is high..... in summary why some people are refuting the fact that bitcoin is a scam is because people's come them with Bitcoin and they make their payment of scam with bitcoin that is why the always emphasize that bitcoin is a scam while bitcoin is not a scam from my perspective.

This is what we need to pay attention to most of all, I believe that celebrities, organizations, banks or anyone who talks bad about bitcoin on a daily basis has a larger purpose behind it. They don't want too many people owning bitcoin, they don't want to share the wealth with too many people...but many people are falling into their trap. I never believed what they said and I didn't laugh or get angry like some people because I knew they had a bigger purpose. For me, the winner is the person who has the most bitcoins, not the person who always praises and brags about bitcoins but only has very little bitcoins in hand.

When people have a good understanding of Bitcoin, of course they have done research about Bitcoin in depth so they already know that Bitcoin will be very profitable if someone collects it and can make a profit if they understand well how to take advantage of holding Bitcoin and are very correct in what What you say is that the government and banks will certainly be very worried if everyone believes in Bitcoin and chooses not to keep their money in banks anymore, which is only profitable for the banks but very little benefits for those who keep their money in banks.

Some people who believe in Bitcoin can of course use it as a place to store investment assets for the future, because currently it is still very difficult to use Bitcoin as a means of payment and most people save as an investment for their future.

Those people who thinks and said that Bitcoin is a scam must be living in a cave. If not, well, they are only trying to spread a FUD there and will take advantage of the situation by buying when the price dips a lot. Lastly, they can be the government or banks who thinks that Bitcoin is a big threat to their businesses.

There are still people who are aware of bitcoin and believes that it is legit. They can even use it but it's just that fiat is more legal on their country and let's admit it, it is much easier to use than Bitcoin. Another thing on why people won't use their Bitcoin daily like a fiat currency, is they think it's too valuable due to its properties (e.g. it has a very limited supply).

Bitcoin is not a scam and since 2012 Bitcoin has come to exist, assuming Bitcoin is a scam, it could not last for a long period of time and has short down since. But instead it keeps spreading and growing rapidly with price movement increase with a very high demand on the daily basis. Therefore Bitcoin is created for difference purpose and usage.

Yes of course if bitcoin was scam then people will quickly realised this fact because scam projects ends very soon but bitcoin is not ended yet and become more successful day by day therefore it proves that bitcoin is not a scam asset
.
I think that bitcoin investor will never think that bitcoin is scam but those who cannot buy bitcoin and have no knowledge will definitely share wrong information about bitcoin. There is no evidence that bitcoin is scam but if we ask about it from the its holders we will not find any negative thoughts from anyone.

the narrative about bitcoin being a scam has often been said by many people, even some of the richest people in the world have said this. but are their words about bitcoin being a scam true? not really, that's just their opinion saying that bitcoin is a scam, and everyone has the right to have an opinion on everything. so it comes back to us again, whether we follow these words or remain firm in the opinion that bitcoin is not a scam and in fact it is the most innovative and secure transaction system in the world today.

Actually it makes sense not to quickly judge them because we don’t know what they have been through. It could be a really bad loss. But despite that, it must have been a misunderstanding that caused them coming to that conclusion because you can’t blame Bitcoin if you didn’t have proper knowledge before investing. It could also be people who have been in a “Bitcoin” pyramid scheme. At the end of whatever reason it is, it’s a misunderstanding though.

I have been in this space since 2012 and have made a nice fortune from it, but I have full intentions of dumping the rest of my BTC on this bull. The only good thing to come from BTC is blockchain technology. 
 
This space has aged terribly, and it isn't getting better. If we are judging this by the original white paper, then its use case has completely gone out of the window. I honestly believe people put way too much faith into the limited supply of BTC without realizing BTC doesn't have a purpose other than speculation, and the only group of people using it in day-to-day transactions are still primarily criminals, and it hasn't grown past that. 

Now we have the ETF, which is nothing more than traditional money trying to gain control of BTC. 

Besides scams and empty promises, what is BTC these days? Something to manipulate the new generation? I used to be starry-eyed and hopefully of this space, but now it's a very bitter pill to swallow... There must be some oldies who feel the same way.
 
 

I can agree to that but not all of them are ignorant for the sake of ignorant, some of these people are either really old or have been scammed before and they don't want to take risk in bitcoin because if they're old then that means that they've got an establish belief and most old people don't really have an open mind for new things, they're too old to try something new and so they close the door on the opportunity to invest or learn about bitcoin while those that have been scammed before, they want an assurance that it's not going to make their money disappear but this is difficult with bitcoin because you've got to remember that bitcoin is volatile which could lead to half of your investment gone because the value of bitcoin goes down, now for those people, they'd see it as a scam because how can that happen in such a short amount of time. The moral in this is that we should never really care about this people anymore, they're going to go on and hate bitcoin no matter what positivity it's going to bring, they'll always be hating on it.

Three people exist says that.

One is those complete newbie which crying for their losses on bearish condition and think about bitcoin is scam due to that matters.

There are also people who knows about bitcoin but they hate it its because they have other favorite coin that they support and saying something negative is their way to shift the attention of people and try to see their project and gain a new investor that will support them.

And last are those institutional investors who want to manipulate on the minds of people, they play mind games so they can influence people to do action that they like and they always get benefit if they can influence people either to have panic and sell their bitcoin or either they want to FOMO them and convince to buy.

This is not necessarily true, there are also many people who are very knowledgeable about bitcoin but for some reason they don't like bitcoin and don't want people to like bitcoin so they spread lies about bitcoin. If we can learn bitcoin easily then so can others, don't look down on them just because they say wrong things about bitcoin. We need to find out what their real purpose is.

Just like many famous people in the past said bitcoin is a scam, bitcoin is only used for money laundering but so what, now they are one of the investors holding the majority of bitcoin. If I remember correctly, the CEOs of Blackrock and Microstrategy were also people who spoke ill of bitcoin in the past, and currently they are the ones who own the most bitcoin.

Exactly, bitcoin investors and hodlers will almost always get the last laugh anyways, they can scream all they want that bitcoin is made out of thin air and that it's a useless thing that we put value into but they're all hypocrites that still considers fiat and gold as variable when both of them are just the same as bitcoin, their valuation was based on how much someone thinks it's worth and the demand it have on the market. I really like to listen to this kinds of people though, talking brashly and arrogantly about the things that they don't know about thinking that they're suddenly an economist or a trader just because they've watched a 20 minute video about economics online. Bitcoin haters will continue to hate even if the price goes up to a million in the future, so let them be, they will never have their minds changed or anything like that, they will never be able to move on or learn something new. I pity them though because I know that those haters deep inside wished that they've bought bitcoin back when it was still a chump change apiece.

To put it more simply, instead of listening to what others say and hastily believing what they say, we should verify for ourselves what is true. If we easily believe that bitcoin is a scam just because of what others say, then if they say our parents or relatives are scammers while we are the ones living with the family, then what Is that trustworthy? We can't ban people from saying bad things or thinking bad about bitcoin because that's their right, our job is to authenticate things ourselves instead of easily trusting someone.