People call bitcoin a fraud or ponzi scheme - page 23.

charlotte04

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Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

They just don't know what is all about Bitcoin is, so they might say that because they cannot believe how much Bitcoin can give us in return. But I will always try to make them understand more.

Slash61

member

Activity: 633

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Whatever they say it all depends on self-perception because it will not harm me, of course can be called not understanding anything about Bitcoin seen from the negative side level in thinking, is a lot of fraud at the moment and indeed the fonzi scheme is there but it's all played by sneaky people who use Bitcoin as the main picture, so that's all crazy, Bitcoin is innocent but lots of dirty people everywhere now.

taeewo

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Some people will not take their time to research about something before labeling it as fraud or ponzi scheme, the reason most people call it ponzi scheme is because the price is volatile.

gabbie2010

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SOL.BIOKRIPT.COM

Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

Honestly its been a difficult task correcting the impression of some people on classifying bitcoin as a ponzi scheme, it is absolutely ridiculous to call btc a fraud when there is glaring proof of mode of its transactions with Google as a friend and with all the valuable information as regards btc well detailed there, I will continue to enlighten as many people that needs more clarifications in this regards.

billknight

jr. member

Activity: 197

Merit: 1

I never care about the negative say about Bitcoin. I only know that since investing in bitcoin and cryptocurrency, I have made a lot of money without having to work

KingScorpio

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Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

jes but people have a choice weather they buy apple macbookc or toshiba handybook, but the problem with bitcoin and cryptocurrencies is that they are propagandistic sects looking for attention creating a corrupt media system arround themselves.

regards

Mister1k

hero member

Activity: 896

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People really want to offend the bitcoin with the critics they may share the fake and incorrect information about the bitcoin. That is what going here on this forum and many places mate. I see the investors who we got as newbie this year really does not understand the growth of bitcoin and leaving the market as it is for long time here.

Please review about the bitcoin on legit news site and then confirm the news spreading over the forum mate.

jayveerastrullo

jr. member

Activity: 266

Merit: 1

People with no knowledge about bitcoin can call it what ever they want. It really does not affect the entire system and users. These people maybe was just scammed by others so they will do what others did to them. Maybe that is how life goes. Of course if for your own risk you need to do something not just believing what others say you need to do research.

kukurikapu

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Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

I think those peole who call bitcoin fraud lack knowledge about what really bitcoin is. They should stop doing that because other people who are willinh to invest in bitcoin become hesitant.

Glorypaasa

full member

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Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

yes because of the manipulation by all whales so i can say that this is a type of fraud by rich people and i seee that rich will become more rich and poor without knowledge will become more poor but you can buy bitcoins when the bottom has reached like now i think it is time to buy now than to regret by next month and i am sure that now is the time to buy .

Rumhocker

member

Activity: 170

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Actually, all those people do not even understand how the entire market works and they just think that they came become rich overnight, and that is why they are frustrated over bitcoin. Just ignore them, they all are a waste of time and you should not follow their thoughts

Nilda

member

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It’s 2018 and some people still thinks that bitcoin is a scam or a Ponzi Scheme. SMH. Do yourselves a favor by ignoring them. Let the business news from mainstream media do the talking.

worle1bm

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The main reason for people calling bitcoin a fraud or ponzi scheme is that they don't understand it's working or have been caused in the trap of conspriancy or frauds related to it where company collects money from customers and run away.But bitcoin is a digital currency that gives profit to the investors and can be used for transactions so let people calling it fraud but we know what it really is.

nightxglow

sr. member

Activity: 700

Merit: 251

Your statement make a great point though. Many people asked me, if they buy bitcoin, what will they get? Since bitcoin doesn't have a shape, or not a thing. How can we be sure it will be worthy, not just scam, since we really don't get a hold of anything right?
It's kinda hard to answer that, since we're buying the technology, or maybe the intangible coin, that can be used as a payment, or investment. It's kinda hard to be sure, it's scam or not. But for me, as long as i still feel the positive benefit from bitcoin and don't think that it will do anything bad, i won't think it's a scam, but a worthy investment that can earn me profits.

hdtqisg

sr. member

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Bitcoin is considered a successful phenomenon of blockchain technology! There are many different views on the value of Bitcion and altcoin! But I believe in the development of digital money!

Sir Cross

full member

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Quote from: Banulit on July 07, 2018, 10:33:47 AM

Yes it's true many people call bitcoin is a fraud and scam because some people use bitcoin in an evil way, there's a lot of scammer in the world they encourage people to invest in bitcoin after given the money of investor to the bitcoin user it will disappear immediately be aware of it.

There aren’t that much scammers to be honest and studies have shown that only a small percentage of bitcoin transactions are used for illegal activities. It’s just that people have associated bitcoin to this since it’s not yet legal in most countries. People still feel like bitcoin is not secure and has a shady background because of these scams but in reality that is not the case.

Betty10

newbie

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Bitcoin could be called so because: Is either such persons are ignorant of how bitcoin network works or they are just scared of the successes of bitcoin despite all attacks by the media.

Banulit

full member

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Yes it's true many people call bitcoin is a fraud and scam because some people use bitcoin in an evil way, there's a lot of scammer in the world they encourage people to invest in bitcoin after given the money of investor to the bitcoin user it will disappear immediately be aware of it.

Agamemnus

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The amount of people that I have met that think bitcoin is some kind of fraud or some kind of ponzi scheme is just alarming. Mostly when I meet people like this I do my best to educate them. You are right, the only reason that people are calling bitcoin a fraud or a ponzi scheme is because they do not understand bitcoin and how it works. With more information, they will learn how it works and know that it is not a fraud.

neliawesome

jr. member

Activity: 210

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Well its not new if people will call bitcoin a fraud or a ponzi scheme because people have different perspective.If there is money involve its normal that people always think in negative ways like it is a scam/fraud because they were too afraid of getting fooled.Thats why instead of grabbing the good opportunity they actually missed it because of those mindset.Lack of knowledge misunderstood everything.

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