Topic: Opinion on "bitcoin, XRP and crypto in general are scams" (Read 413 times)

This is the sad reality on where people do treat this crypto market as an easy money generating place but when the market goes again them then thats the time they would say its a scam without even reconsidering or try to check out on how this market works and thats why those common lines been thrown around which is already a usual stuff.Some might turn their backs and tell all those negative insights and some would go back and
rethink to study it more.First impressions doesnt really last if they do just tend out to study and try to understand that expectations doesnt happen.

The mastermind of all the problems presented by the OP is probably his disappointment with the reality he experienced after being a crypto trader for the past 4 years.


And it seems like these two posts of user have answered all OPs doubts about crypto and made it learn more.
1. Response from mr.relax
2. Response from abel1337

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Are there lessons we can take as users who trust crypto ?

What is the purpose and objective of the OP?  is still here and says Crypto is a fraud, but it looks like he lost money so he says it all.

How is this possible, BTC is said to be a fraud while people of senior rank and legendary members feel comfortable spending hours at this forum.
With the aim of getting a lot of knowledge about Crypto, Blockchain or others, even some people get paid from all of that.

I often find people who say something negative about Crypto just a beginner who does not have extensive knowledge that when trading they suffer losses and who when making investments they are misplaced in Ponzi and in the end they say as the OP says.  Sounds silly

They lose their money for the volatility that's why many clueless person tells that they are losing money from crypto and conclude that this is scam without doing some research regarding on this thing. And they should really need to be educated since if they always think downwards they cannot get what crypto can offer in this new digital era world.

As for where the money should come? Institutional maybe and of course retail investors.

As for bitcoin and XRP and crypto in general to be scams? It's been debated, you could even call it a ponzi scheme. However, crypto remains to be that will polarised everything specially in the financial markets. This post was written prior to the pandemic, but we have seen how crypto recovers while the rest of the traditional market are getting hit hard. So did crypto became a safe haven? We can have all day debating on it, but one thing is for sure, the whole narrative has change in favour of bitcoin and crypto in general.

Crypto is a tool that can be used for good or worse, and this includes major cryptos like BTC. BTC in itself isn't a scam, but the whales that manipulate market one way or another can be thought of as a bit scammy, making millions from clueless "investors".

Another so called analisys that is worthless.
It's funny how everything is perfect when the price is high, people have no doubts and they are satisfied. Once they lose the patience waiting for the price to become huge and they become rich people over night they start to doubt and to call Bitcoin and crypto a scam. Nothing unusual, we see such scenarios all the time. I.just don't know why people pay attention to it.

Actually, Bitcoin is incomparable to be honest. It is sure that Ripple is precious despite XRP's price is pretty low but the most important characteristic is the value of market cap, as I know Ripple has more 10 Billion dollars , that's matter. You can earn a significant amount of money when you invest in XRP but in a long term.  Being patient is absolutely essential especially when you buy/Invest/Hold a  value of crypto currencies that have weak prices.
Don't focus on the shitty coins or tokens, the market is full of them.

These kind of threads might actually be demotivating for the community and especially for all those who have newly started investing into the cryptocurrency markets. Peoples have an greedy nature and if they do not find any profits in any of the commodity than they might consider it as a scam.

Peoples have made excess money by investing into the cryptocurrency markets but yet the number of peoples who have been ended up themselves in looses are greater so those peoples might not consider investing into the cryptocurrency markets profitable for themselves. I have seen a number of peoples who are not much related to the cryptocurrency markets but yet they do consider those markets as scam.

If you aren't willing to take some time to read whole thing, how would you understand OP post? Don't be silly by asking questions where the answer is on the starting post. You just made yourself like a lazy signature spammer.

@mr. relax, abel1337,

Thank you both for your insightful answers. I have much to learn.

Even I did not take the efforts to finish reading entire OP only because of what the subject stated. Bitcoins, XRP and cryptos in general are scam? What would actually that mean? Is OP trying to compare Bitcoins, XRP, to all other ponzi coins launched in the markets? Or is OP considering entire crypos as scam? That might be because he/she might not have made any profits out of the cryptos only because of lack of knowledge and it might be something which might scare OP from investing into such coins and hence he/she might directly consider them as scam.

This might be the case with most of the investors who really can't afford to spend their time in gaining immense knowledge about the crypto investments and it might make their faith lack in those coins.

I think it's common for a market to be played with. Whales are just playing around the market and making their own profit in it and it's not bad in my own opinion, I see it as a normal thing that a person with a lot of stakes will do.

There are many ways to move around with the whales, Trying to surf with their thing, Most of us traders want to be a whale someday and it is making us push through these kinds of things, We learn and we apply the things that we experience from the whales surfing around the market.

It's not comparable to the bitcoin market I guess, The example comparison you gave is not the same to the bitcoin market but it is a near example to the starting altcoins that ran of the money of the investors. Investments managers now a day finds away in order for an investor to trust them due to past investment ran aways, These makes investment safer than before to regain the trust of the investors before.

The main thing about this is to just surf the waves, We go in this forum because we trust crypto and we believe in it.

I believe I didn't say Bitcoin is a shitcoin.


I think, they won't regret it cause they might already thought it is a scam, so when crypto went up, they will call it bubble or other bad thing. I don't care shitcoin goes up high anyway, they aren't good long-term investment for me, not even a good thing to invest though.

Real decentral cryptos are immune to anyone, excepts the developpers and the miners.
But the miners dont have fun to manipulate, as its crazy expensive and they would undermine their business.
Actually on BTC the mining power is too high to manipulate it by anyone outsider.
 Only huge miningpools or manufactorers of mininghardware can eventually do that.
Even the NSA does not hold that amount of hashpower...
Yes, smaller coins with less hashpower are possible to manipulate and thats the reason why they are not as safe for storing big values as Btc is.
But g.e. if the bitcoincore team would change the rules, the miners and users would maybe not follow, if they disagree and a fork would happen.
So the old blockchain and rules can exist further.
Actually this happenes all the time. Everyone can do a fork. But probably nobody would follow, so the forked coin is worthless most of cases.
Thats a kind of democracy in the cryptoworld.

Bitcoin is a trustless system, so nobody can invade. Its a trust only in math, not in goverments or companies.
Goverments can only regulate the companies that exchange to/from Fiat, as they do now.
Still theres the possibility to trade unregulated like P2P.
Sure Goverments can forbid the use, but they cannot control it.
If the nations could invade, they would have done since a long time as they all hate BTC.
Cryptos are INDEPENDENT and uncontrollable.

This real cryptos are very different to many new cryptocurrencies, especially if they are not decentralized, like bnb.
Here the issuer can burn or create coins, and by inflating/deflating they can control the supply and indirect the value.
Even if i dont call bnb a scam, i dont call it a real cryptocurrency.

Also heavily premined coins like xrp are mainly under control of the issuer.
As far as I know, the creators of xrp still hold the majority of all xrp...

Some token like USDT can be called a scam as they promise to have a value, where the escrowed amount of fiat that should guaranty the value does not exist. Its only backed maybe 75%.
Here a company promises a value. You have to trust a company-and they DO manipulate. This is against the spirit of Bitcoin.
Anyway, USDT is not a cryptocurrency but a token, because it has no own blockchain, it depends on several underlying cryptocurrencies like ETH and TRX.



Just only because a currency would be controlled by goverment or central notebanks , it is not necessarily a scam.
Fiat is no scam, but it is 100% controlled by central banks.
A scam is if someone changes the rules on a trade.
That means he sells you a car but delivers nothing or a bicycle.
In Crypto in general, there is no given value. The value is rated by the market, that means the users.


So in general, cryptos are not scams or pyramid-games.

I suggest you read the white paper of bitcoin.
BTC is not only the  inventor of blockchain but also a philosophy of giving back the power of payments to the users, without need or influence of nations, banks or companies.

I've been invested in crypto for about four years, with an amount I'm comfortable with, occasionaly buying more, mostly top ten/twenty coins
by marketcap. And I'm not desperate. Certain trends might make me think, doubt, reconsider things sometimes, yes. And If I'd lose what I've invested up till now,
ofc it would hurt, but I would be able to accept that and move on. Not that I think it will come to that. I'm just holding for the long term.

The only thing I was trying to find some answers to, some opinions, is how immune crypto is to the machinations of those in power, those controlling the
printing presses. To what extent will they be able to somehow co-opt the crypto space so that it increasinlgy works for them, to their benefit, as has
often been the case throughout history. This ties into a wider observation about technology and progress. Almost always the element of power is left out of the
equation. What gets allowed, what get co-opted, redirected from its original purpose, to serve the interests of the few.

I hope crypto is an answer to many problems, economic and social, but looking at what is happening, I have my doubts sometimes, that is all.

lol not . he means btc , xrp also  known all as a cryptocurrency   . there are bitcoin and there are altcoins , some are shitcoins too   . xrp is likely the one that call people a shitcoin but btc obviously not   .

yeah  . its classic  , thats who we are   . but there are coins that people dont try to invest with but they already made a conclusion and call it scam    . if thats what they believe why not ?  let them  . let them also regret and get more pissed off when they see that crypto is soaring high and became sucesful at the end  .

I did not finish reading the OP myself. It is too long and with a subject like that, I don't think the claims will be much different than what is already hastily assumed in the title.

If I were you, OP, I will try buying some of the coins you consider scams. You are not yet too late on this. Believe me and don't end up like the bitter Peter Schiff, blabbing everywhere partly out of bitterness because he was not able to ride the train earlier.

Bitcoin, XRP and Crypto?

Do you mean Bitcoin and Shitcoins?

It is a common thought when something is profitable, we call it legit and once it made us desperate, we call it scam.

Well, a refutation of some of the points I was trying to make would be nice, but maybe my "worthless thesis" (or Collins' or Hamilton's)
isn't worth it. These were just honest concerns, thoughts about what's going on, what will transpire ... (perhaps an exercise in futulity
given the complexity involved) but yeah I know, hundreds of posts like these probably. So I get it.