Topic: The only one detail in BTC that makes me thinking is a scam - page 2. (Read 335 times)

The answer to this is literally in the FAQs.  I'm starting to think no one reads those anymore.  Why should the people arriving late to the party get to complain about the people who got there earlier?



Who's to say Bitcoin would have made it this far if there hadn't been sufficient incentive to be part of that fledgling economy?  All we know for sure is that what we have has brought us this far.  Things may not have turned out that way if the design had been different.

Your forgot small detail here. Noone could expect Bitcoin will gain so huge price in so short time.
Because of that even pioneers who mined 10 000 bitcoins on their single home CPU spend their 10 000 bitcoin on pizza and were very happy about it that it worked. That their coins actually was worth ANYTHING.
You could develop it like this, to have most bitcoin first, but it could be easily worth nothing in time. Bitcoin turns out true technological revolution.

Nothing in your write-up suggests or remotely relates Bitcoin to being a scam.
Early adopters got in when there was no competition and no immediate profit valuation, others joined the bandwagon when the value became apparent and obvious.

As for the lost wallets that is no fault of the technology.

If the creators had good intention and wise, they could written bitcoin core to establish an equal amount of satoshi's for every 10 mins of block reward during entire 130 years, till bitcoin fully released its bitcoin.
 This is what i want to point at. Is a fact what i say. Imagine how can they manipulate prices, if small groups own more then 70%  of bitcoins.

The ones that mined 10 years ago are unlikely to still be in possession of those coins, they will be spent or lost in a landfill. Only satoshi still has his old coins but they aren't moving

Yes, but the number of people that got the coin at that time is limited and also the number of coins. So, it means that at one point, the whales will not have the coins to manipulate with if they sell them all. And why would they? At some point, there will be no more coins to be minded, and then what? The market will be forming the price, as any market does. At at any market, buy and sell of the asset influence the price.

bitcoin is not a scam but Tether is , and Tether and Bitfinex together , they pump the bitcoin price up and then they bought back their bitcoin back from gdax after that .   and they are under investigation by US justice .

Well, there was the earlier adopters, those who don't mine them almost for free, buy them for really low prices, is what you get when you believe in a new project who isn't popular yet. It was about luck, those who join to cryptos in 2009 or 2010 had good luck, and those who hold their coins for this 10 years was wise... but those who buy pizza for 10,000 btc doesn't have the right vision

Maybe it was designed in way to give some incentive for the first miners, the early adopters? On that time Bitcoin wasn't so valuable and only few people knew it, if they were mining dust of BTC on that time, probably the only few people wouldn't had continued on this business... Compromising the future of Crypto Currency. I see it as an extra reward for those who first believed in Bitcoin.

Hi there,

As title say, the only one reason in my analyses that made me aware about how Bitcoin was created.

In the core of creation, bitcoin core was set to be mined in first 3-4 years about 70%.

So, those small groups who knew about it, they mined Bitcoin almost for free in large proportion. Between 2008 and 2012, at that time the Bitcoin didn't had even a price, only in 2011-2012 was used in DarkWeb, only in 2012-2013 first exchange was launched and price of bitcoin took in place.

By that time, more then 10 mil bitcoin were mined almost for free, only cost of mining, but difficulty was very low. If you remember, in 2011-2012 masses started to build mining rigs, remember this happen after more then 10mil bitcoin were already mined.

After 2011, many lost wallets, around 4mil bitcoins estimated.

Today we are at 17.3mil, if you exclude those 10mil+4mil lost, you realize that only few percentage reach masses.

I cannot say this is a scam 100%, because the way is secured network is amazing, the way how was establish reward for miners is for me a certain Signal of a scam.

Don't take me as a panic spreader, i just wan't to put people aware of what is going on here, especially for those traders who buy for speculation, they can lose alot of money, because they do not understand how bitcoin network was programmed in the core.

So, what i want to say,

YES, bitcoin network can last forever, also price can be manipulated even if mass adoption occurs. Because those who got bitcoin before 2012 can sell every time they want.

For sure bitcoin can go back to 20k, as it can go back to 2012 prices.