“If you own BitBTC you can earn dividends on your bitcoins,” said Larimer. “If you have a thousand bitcoins and you convert them to BitBTC, and then you hold it for six months, then you convert the BitBTC plus the dividends you received back to bitcoins, you’ll end up with more bitcoins than you started with.”
^^
simply rather than having to write a white paper - just tell me who takes the risk and where does the "magic" happen in the above scenario.
When trying to find a scam I suggest that if its too difficult to explain without trying to revert to eco-speak , you are scamming.
so simply , who takes the risk in the above scenario to provide the "interest" - where is the "new" BTC issued from, or transferred from.
if this can't be explained , unfortunately, well, you know....
^^
simply rather than having to write a white paper - just tell me who takes the risk and where does the "magic" happen in the above scenario.
When trying to find a scam I suggest that if its too difficult to explain without trying to revert to eco-speak , you are scamming.
so simply , who takes the risk in the above scenario to provide the "interest" - where is the "new" BTC issued from, or transferred from.
if this can't be explained , unfortunately, well, you know....
Often you are completely correct, but that is because people are adopting eco-speak because they don't expect you to understand it.
If you actually understand eco-speak, it makes things crystal clear.
This is simple stuff. e.g. I test undergrads on this all the time and they do just fine.
If you see well-educated people doing this it can only be intentional deception.
The problem is if something is actually complicated then I will be unable to explain it to you without you immediately thinking it is a scam.
Bitcoin is case in point.
