Topic: Logical and mathematical truth of bitcoin (Read 416 times)

It seems like in order to answer on your question I need to write down whole book about Bitcoin in this thread, lol. If you have a lack of education, you would rather go and look for some video films about Bitcoin technical side.

$1 to $10,000 in 9 years has never been heard of.. Mostly likely money getting created from thin air.

Obviously I dont have any, Im not stupid enough. I just want to help those people, who dont understand, that are scammed. I know few, that have "invested" instead of voluntary retirement plan, i just feel pity about them.

Well yeah if anyone thinks bitcoin is a scam they can eventually sell them and well to be honest i don’t really think bitcoin will have a limit till 21 million, to mine 21 millions of bitcoins it will take years even for multiple huge setups and when they do I guess there will be something to increase the limits, well for me till I see my profit I will keep on investing and getting back my money.

yes you are correct. bitcoin is a scam so please sell the coins that you have so desperately been buying and leave us dumb people be in our scam in peace 

Those who want to believe in BTC at all cost, should avoid this topic.
To help some people, who started to think about the core concept of bitcoin, my judgement is:

1) The blockchain part or "mining" in case of BTC is a special kind of scam. For getting a coin You must invest into electricity and computing power. In return You get VERY little chance to be awarded with a coin. This chance is so small, it is mathematically ridiculous, but in practise. ZERO! Nada, ничтo, nichts... What kind of decent money is that, that everyone can apply by spending real money but only few of many millions are actually given by basis of pure luck?

2) The coin part of BTC is a monetary fraud. Although people make transactions voluntarely, they are cheated with the very core concept of BTC. While blockchaining may have some usage as a concept as well as cryptocurrency, it does still not mean that BTC is legit.

Before You attack my opion, try to give logical answer to these questions:

a) why is BTC quantity limited with 21 millions? What limits it?
b) what is the point of decentralised money, if its so volatile, that rate would drop 75% in 6 months (or grows by the same)? this is called a hyperinflation.
c) why is blockchain technology better in 99,99% of transactions, than regular private/public key technology?
d) do You really understand, what is private/public key crypto and blockchain in its core, or they just sound cool?
e) if BTC had at more or less decent chance to boom again, why dont all the richest investors in world buy it?

Maybe it wasnt planned so, but BTC is the most genious scam in the history.

Previous doesnt mean, You absolutely can not make any money in it. The same goes for ponzis and pyramids. If You go in or out right time, You will earn and at some cases earn well!

Is unfortunate you don't understand the principles in which bitcoin operate so you are concluding it to ponzi scheme. Bitcoin uses electricity to generate it as banks need a service to generate transactions.

* Please quote the posts correctly.I know dissecting every part of it is a strain but helps keep the conversation going very smoothly.
- You almost agreed with all the points that I had, I don't see why you'd be against the entire system then? It is just really a virtual reflection of the stock market with more fluctuation.

- If you're against mining, say it. I like how the system rewards people for running their machines by keeping the payments decentralised. How else would you incentivize the process?

it something difficult to say but i am more than sure in that everyone is here only for one purpose, the money, and you can not deny this

Most of the people have the same situation, they do not understand bitcoin and even do not want to, but still they are making good money from bitcoin investment, they are only lucky because they have a good amount of money from which they can make good profit, i think that investment can be more fruitful if you know and have good knowledge about bitcoin.