What's the objective value of a secure triple ledger system with worldwide adoption?
Good question. 
Topic: Simple and undeniable proof that Bitcoin is a scam - page 3. (Read 23781 times)
Of course, but the bottom line is this. "Spreadsheet entries" in the form of Dollar or Euro are created for the borrowing of goods and services from the general population and returning them back later. On the other hand, "spreadsheet entries" in the form of Bitcoin and Crypto are created for extracting goods and services from the general population without returning them back later. And that's the difference between a legitimate business and a scam.
If you are referring to the circular flow of income -- that applies to Bitcoin as well, not just fiat currencies.
You can get paid in Bitcoin for goods and services and you can in turn use Bitcoin to pay for goods and services yourself. You can buy mining hardware using Bitcoin, pay your electricty bill using bitcoins you mined and spend the remaining bitcoins on Pizzas or whatever else you need. Granted, there's friction with the classical banking system (ie. when converting to fiat) but if you stay within a closed circuit of crypto it's rather frictionless, especially globally speaking (anyone who ever sent money abroad will know, as well as anyone who ever ran a small online business with international customers).
No, I am referring to the fact that for every dollar that is in circulation, there is a borrower who was issued a loan and used loan created dollars to get(borrow) goods and services from the general population. For that reason he is legally obligated - by the loan contract (backed by collateral), to return dollars back to the issuer (bank), and in the process have less purchasing power for goods and services. That is how he "returns" borrowed goods and services back to the general population. On the other hand, bitcoin miner used bitcoins to extract dollars, goods and services from the general population, but unlike borrower, he has no obligation to return goods and services back to the general population. Thus, unlike Dollar, Bitcoin is not debt instrument that reduces purchasing power of borrowers through the banking system. Hence, in the first instance we have: 'borrowing goods and services from the general population - returning goods and services back to the general population', which is legitimate. In the second instance we have "extracting goods and services from the general population", which is a scam.
whatever anyone will tell bitcoin is not a scam but the system doing what bitcoin can be.
this limit the demand from the people from BTC uses.
there are more important thing than participating in a scam one.
all we need to have is the knowledge on it. if you dont anything then never invest!
this limit the demand from the people from BTC uses.
there are more important thing than participating in a scam one.
all we need to have is the knowledge on it. if you dont anything then never invest!
Do you think banks are always the biggest trap in the world? Altcoins are headquartered and officially operated. Why be scared and worried that it is a scam? You can see that the way and operation of Crypto are the same, trading activities depend on trading. I believe Bitcoin is not a scam.
Of course, but the bottom line is this. "Spreadsheet entries" in the form of Dollar or Euro are created for the borrowing of goods and services from the general population and returning them back later. On the other hand, "spreadsheet entries" in the form of Bitcoin and Crypto are created for extracting goods and services from the general population without returning them back later. And that's the difference between a legitimate business and a scam.
If you are referring to the circular flow of income -- that applies to Bitcoin as well, not just fiat currencies.
You can get paid in Bitcoin for goods and services and you can in turn use Bitcoin to pay for goods and services yourself. You can buy mining hardware using Bitcoin, pay your electricty bill using bitcoins you mined and spend the remaining bitcoins on Pizzas or whatever else you need. Granted, there's friction with the classical banking system (ie. when converting to fiat) but if you stay within a closed circuit of crypto it's rather frictionless, especially globally speaking (anyone who ever sent money abroad will know, as well as anyone who ever ran a small online business with international customers).
I think this is a ten year old debate, In my opinion bitcoin is not the real product but Blockchain technology is the real deal. Even Bitcoin will disappear the technology that it bring will change the whole concept of history, people dictates value of everything and sometimes even the most useless things becomes precious and valuable I think bitcoin is from those things.
Ability to transfer something (money, bitcoin, text, picture or whatever) is indeed - utility. But this ability belongs to the transferring system, and not the thing that is transferred. Everything can be transferred via some transferring system but that doesn't mean everything has utility. Bitcoin is a spreadsheet entry and it has zero utility.
Bitcoin the network can not function without Bitcoin the currency. These "spreadsheet entries" are what pays the miners, similar to how other "spreadsheet entries" pay bankers, marketers, developers, etc. These "spreadsheet entries" pay the transferring system. You can't have one without the other.
Of course, but the bottom line is this. "Spreadsheet entries" in the form of Dollar or Euro are created for the borrowing of goods and services from the general population and returning them back later. On the other hand, "spreadsheet entries" in the form of Bitcoin and Crypto are created for extracting goods and services from the general population without returning them back later. And that's the difference between a legitimate business and a scam.
I don't think Bitcoin is a scam, they used to scam people, yeah, but its not a scam.
Just listen to this guy and get all answers: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ
what I know is that the scam from Bitcoin has been scanned a lot and I regret joining in at that time and I realized that it was a scam and I would not use telehgam again Just listen to this guy and get all answers: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ
Ability to transfer something (money, bitcoin, text, picture or whatever) is indeed - utility. But this ability belongs to the transferring system, and not the thing that is transferred. Everything can be transferred via some transferring system but that doesn't mean everything has utility. Bitcoin is a spreadsheet entry and it has zero utility.
Bitcoin the network can not function without Bitcoin the currency. These "spreadsheet entries" are what pays the miners, similar to how other "spreadsheet entries" pay bankers, marketers, developers, etc. These "spreadsheet entries" pay the transferring system. You can't have one without the other.
Monetary transactions are enabled by internet and miners equipment, not by Bitcoin.
The internet alone, by itself, does not enable monetary transactions.
What do you think pays for the mining infrastructure?
Because you stated above that transactions are enabled by the internet and miners.
Obviously the internet by itself can't enable transactions, so in this case miners are required.
But what do you think pays for mining?
(spoiler alert: Bitcoin does. No native token, no mining, no permissionless monetary transactions via the internet)
To repeat: The utility of cryptocurrencies such as Bitcoin is monetary transactions. Whether Bitcoin is overpriced or undervalued is a different question, of course. But if you accept that banks, credit card companies and money transmitters (and by extension their respective stocks and bonds) have utility, you also have to accept that cryptocurrencies do. Everything else is just cherry picking.
Ability to transfer something (money, bitcoin, text, picture or whatever) is indeed - utility. But this ability belongs to the transferring system, and not to the thing that is transferred. Everything can be transferred via some transferring system but that doesn't mean everything has utility. Picture has utility because it is used by art lovers for the fulfillment of their aesthetic senses. Car has utility because it is used for driving. Dollar has utility because it is used for borrowing goods and services from the general population and returning them back later. Hence, these items can be both - transferred and utilized. But bitcoin is just an empty spreadsheet entry, and as such it cannot be utilized by anyone anywhere, but only transferred.
Bitcoin is the most advanced value storing and transferring technology ever developed, making a sovereign store of value possible - no government or bank can censor your money - and it can be moved within minutes to any place on the planet, essentially making it a free alternative to offshore banking available to anyone. When you look at bitcoin as a technology within a certain socio-economic context it is obvious that bitcoin is greately underpriced, whether it is 3,000$ or 15,000$ for a bitcoin it is still underpriced.
bitcoin is proven legit, the price is manipulative, but doesnt mean its a scam.
I never thought bitcoin was a scam, which was used to deceive people in the form of investment, if bitcoin is a scam bitcoin won't last for 10 years, and there is a lot of evidence bitcoin isn't a scam because there are many, successful people and become billionaires the result of investing and trading in bitcoin.
Bitcoin is not scam. At least it's supported by the blockchain technology. Bitcoin is very manipulative, but this doesn't mean it's scam.
Monetary transactions are enabled by internet and miners equipment, not by Bitcoin.
The internet alone, by itself, does not enable monetary transactions.
What do you think pays for the mining infrastructure?
Because you stated above that transactions are enabled by the internet and miners.
Obviously the internet by itself can't enable transactions, so in this case miners are required.
But what do you think pays for mining?
(spoiler alert: Bitcoin does. No native token, no mining, no permissionless monetary transactions via the internet)
To repeat: The utility of cryptocurrencies such as Bitcoin is monetary transactions. Whether Bitcoin is overpriced or undervalued is a different question, of course. But if you accept that banks, credit card companies and money transmitters (and by extension their respective stocks and bonds) have utility, you also have to accept that cryptocurrencies do. Everything else is just cherry picking.
This analysis of yours sounds legit and current. But let me just tell you that it is just an hypothesis that you have not gotten a concrete prove yet. Do more research to validate your assumption. Some of the technology you are thinking they are widely accepted across the globe may not survive if they pass through the amount of pressure and attack bitcoin is passing through.
Most of the morons bought in the recent sucker rally on credit-cards, and they're in debt for life. They're screwed, and people like you don't even care.
These are assumptions.
I bought when it was $15k. I didn't go all in however like you think i did. I was Dollar cost averaging like I was doing since the previous year.
Weren't there people who bought btc with credits? Probably yes. Are they morons? Yes they are. How can people's stupidity affect bitcoin's intrinsic value? It doesn't.
If those people haven't had bought bitcoins in 2018 January, they were going to buy something else and still going to lose their money.
That's called dumb money.
And again, even if they were dumb in 2014 just before Gox collapsed, they still did well in 2018. They weren't that dumb after all!! (unless they were using borrowed money)
You like to throw assumptions without anything to back it up.
In other means,
You are FUD'ing. Go do it more. I'm buying all your cheap coins. Make it cheaper. See you in 2021. I don't think you'll be around. Time will tell.
It's the theory of large numbers, back in 2015 when capitalization was in the millions, anything was possible, including 2x-4x roller coaster rides,
In 2017 when BITCOIN came near $1 Trillion USD capitalization you entered astronomic happenstance, there is no way for this bitch to go back up there, its down for the count.
People said the same thing when btc reach $10bn for the first time and went down to 2-3bn. We are only above x7 of the previous ATH Market Cap. That's nothing. We will be looking at a multi trillion market cap in a few years.
All parabolic rises end this way, in the TOILET
Really? All parabolic rises you said?
How about this?
and...
Now show me the dead fucking parabolic rise in 2014 if you can fucking find it on the chart you fucking genius newbie account.
Mining was rational when profitable and you could sell to a sucker, as you mined, HODL was always a MORON position.
Buying BTC with real cash, was NEVER rational.
Getting BTC for free 2009-2014 by mining was rational, buy bitcoin is when the exchanges showed up and pimps, and the bullshitters and pump&dump team that run btc today.
Now that mining is no longer profitable, the easy game is over, now only morons will buy bitcoin, which means its going to zero, because the smart guys will sell-out, and find a new ponzi.
Buying BTC with real cash, was NEVER rational.
Getting BTC for free 2009-2014 by mining was rational, buy bitcoin is when the exchanges showed up and pimps, and the bullshitters and pump&dump team that run btc today.
Now that mining is no longer profitable, the easy game is over, now only morons will buy bitcoin, which means its going to zero, because the smart guys will sell-out, and find a new ponzi.
According to you nobody should be mining now, yet people still do! What about that??? Did you know there was a difficulty adjustment in case people stop mining? Do you? Apparently you don't.
Go read a book moron.
Well your 2014 graph clearly shows a 75% loss after a parabolic-rise, and that by definition is a toilet run in loss.
Your second graph 2017 parabolic ponzi rise, just shows the bitcoin going to $21k, but fails to show it falling to $3k, which is another 90% loss, that wiped most people out.
All parabolic rises end this way,
Now the problem now is where do you folks get the new $600 billion USD to get btc back up to or above $21k??
You don't, you can't,
When people lose 75%, or 90% of their money, and they bought shit on margin, they're wiped out for life.
Most of the morons bought in the recent sucker rally on credit-cards, and they're in debt for life. They're screwed, and people like you don't even care.
Lastly, please don't post charts, we have all seen these stupid charts they don't help the discussion.
It's the theory of large numbers, back in 2015 when capitalization was in the millions, anything was possible, including 2x-4x roller coaster rides,
In 2017 when BITCOIN came near $1 Trillion USD capitalization you entered astronomic happenstance, there is no way for this bitch to go back up there, its down for the count.
People said the same thing when btc reach $10bn for the first time and went down to 2-3bn. We are only above x7 of the previous ATH Market Cap. That's nothing. We will be looking at a multi trillion market cap in a few years.
All parabolic rises end this way, in the TOILET
Really? All parabolic rises you said?
How about this?
and...
Now show me the dead fucking parabolic rise in 2014 if you can fucking find it on the chart you fucking genius newbie account.
Mining was rational when profitable and you could sell to a sucker, as you mined, HODL was always a MORON position.
Buying BTC with real cash, was NEVER rational.
Getting BTC for free 2009-2014 by mining was rational, buy bitcoin is when the exchanges showed up and pimps, and the bullshitters and pump&dump team that run btc today.
Now that mining is no longer profitable, the easy game is over, now only morons will buy bitcoin, which means its going to zero, because the smart guys will sell-out, and find a new ponzi.
Buying BTC with real cash, was NEVER rational.
Getting BTC for free 2009-2014 by mining was rational, buy bitcoin is when the exchanges showed up and pimps, and the bullshitters and pump&dump team that run btc today.
Now that mining is no longer profitable, the easy game is over, now only morons will buy bitcoin, which means its going to zero, because the smart guys will sell-out, and find a new ponzi.
According to you nobody should be mining now, yet people still do! What about that??? Did you know there was a difficulty adjustment in case people stop mining? Do you? Apparently you don't.
Go read a book moron.
I don't agree that this is the undeniable evidence that btc is a scam because it is a good coin with the huge potential and I m sure it will prove this in 2019 as most experts believe in its power
A well-known political figure also expressed a similar opinion.“Blockchain itself is a mathematical technological concept and an interesting and important methodology,” the tech investor said. “Cryptocurrencies — bitcoin and all the others — that’s a Ponzi scheme.”
Barak said he doesn’t believe that “it’s possible to make a currency in this way in the current generation.” Accordingly, he will not invest in crypto. “I wouldn’t invest in anything that’s related to cryptocurrencies,” he said.
https://www.ccn.com/bitcoin-is-a-ponzi-scheme-says-former-israel-prime-minister-ehud-barak/
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