Topic: Why Do People Label Bitcoin as a Scam? - page 3. (Read 634 times)
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It's quite understandable to say that some altcoins are scam but saying that Bitcoin is a scam means the person doesn't understand the matrix of Bitcoin investment and profitability because for him to say that profit from Bitcoin is not defined for him, that means he doesn't have proper knowledge of the crypto market. If he has a good knowledge about it, he would know it has to do with demand and supply and price always spike during bull season owning to the halving event and deman increase.
He is a skeptic one for sure, but he might distrust Crypto in general but Bitcoin. Although, it seems like he distrusts Crypto and openly talk about it, he is still here for the profit through Bitcoin as he might have seen it as the safest Cryptocurrency, but the way he delivered it sounds like an ignorant, the result of this caused him to sound like a naysayer, just ignored him like how he ignore to need to do more study on technology behind Crypto, don't let a naysayer to intimidate us.
Hater is going to hate.
Let him stay in his bubble and rumble.
We, on the other hand, have better matters to attend.
He is a skeptic one for sure, but he might distrust Crypto in general but Bitcoin. Although, it seems like he distrusts Crypto and openly talk about it, he is still here for the profit through Bitcoin as he might have seen it as the safest Cryptocurrency, but the way he delivered it sounds like an ignorant, the result of this caused him to sound like a naysayer, just ignored him like how he ignore the need to do more study on technology behind Crypto, don't let a naysayer to intimidate us.
If I meet that person, I will suggest him to sell his crypto and leave it without think to invest again. It seems he doesn't want to learn more about crypto and easily says that crypto is a scam.
Well, I already met a person like him who says bad things but I don't take it seriously. I know that is because he doesn't know the truth about crypto especially Bitcoin.
He should be grateful to see his achievement in making a profit from Bitcoin. It is not good if he says that in public especially if he is a doctor who should be more educated than the people around him. But if someone can not learn more than others, he does not deserve all of his achievements.
It is better to leave him with all of his says because he doesn't want to open his mind and see the reality of his profit. Other people may not get the profit like him so he should be happy seeing that.
Well, I already met a person like him who says bad things but I don't take it seriously. I know that is because he doesn't know the truth about crypto especially Bitcoin.
He should be grateful to see his achievement in making a profit from Bitcoin. It is not good if he says that in public especially if he is a doctor who should be more educated than the people around him. But if someone can not learn more than others, he does not deserve all of his achievements.
It is better to leave him with all of his says because he doesn't want to open his mind and see the reality of his profit. Other people may not get the profit like him so he should be happy seeing that.
These people don't know the facts presented to them by their surroundings probably and they wouldn't want to dig deeper - why bother?
For them, they are right in all the regards - and they wouldn't even consider digging a bit deeper.
If I meet that person, I will suggest him to sell his crypto and leave it without think to invest again. It seems he doesn't want to learn more about crypto and easily says that crypto is a scam.
Well, I already met a person like him who says bad things but I don't take it seriously. I know that is because he doesn't know the truth about crypto especially Bitcoin.
He should be grateful to see his achievement in making a profit from Bitcoin. It is not good if he says that in public especially if he is a doctor who should be more educated than the people around him. But if someone can not learn more than others, he does not deserve all of his achievements.
It is better to leave him with all of his says because he doesn't want to open his mind and see the reality of his profit. Other people may not get the profit like him so he should be happy seeing that.
Well, I already met a person like him who says bad things but I don't take it seriously. I know that is because he doesn't know the truth about crypto especially Bitcoin.
He should be grateful to see his achievement in making a profit from Bitcoin. It is not good if he says that in public especially if he is a doctor who should be more educated than the people around him. But if someone can not learn more than others, he does not deserve all of his achievements.
It is better to leave him with all of his says because he doesn't want to open his mind and see the reality of his profit. Other people may not get the profit like him so he should be happy seeing that.
He said crypto scam not Bitcoin, so for me that's different and I'm with him said that crypto is scam because mostly scam, only little part exist with clear development the other just to raise money.
People think that investments that provide big and fast profits are usually scams because they don't know clearly how the Bitcoin market works.
People think that investments that provide big and fast profits are usually scams because they don't know clearly how the Bitcoin market works.
Some people try to separate bitcoin from cryptocurrencies but the reality is that bitcoin is part of the cryptocurrency industry so if someone says cryptocurrencies are a scam, they are probably referring to bitcoin too.
I do not deny that the cryptocurrency market is full of scams as it is an unregulated and relatively new market. But I disagree saying that crypto is a scam because there are also projects that exist and are developing seriously. Like many people call gambling a scam because there are also a lot of scams that happen in gambling, but as a gambler do you agree with this statement? Obviously you would also deny this statement and assume that they know nothing about gambling. Similar to cryptocurrency, it is not a scam.
Any space has scammers and not-so-good projects.
And just like any space - it has its heroes, in our case, BTC especially.
If people don't want to learn more about crypto or BTC - it's their loss, and it's unfortunate because the possibilities are endless here if you have the resolve and crave knowledge.
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Why are people quick to refer to Crypto specifically bitcoin as scam? This person bought bitcoins worth £383 in May 2022. As at December 6th 2024, it was worth £1,000. This is over 161.1% increase. He withdrew half of it and said he wants to leave the other half. What baffles me is that he still went ahead to say, Crypto is still a scam. That it has eventually favoured me doesn’t mean it’s not a scam.
He thinks it works like a Ponzi scheme and MLM type of thing where the early investors make money and then people who join late become the victim of that scam. Probably he thinks this is how Bitcoin also works and Bitcoin is going to be zero someday. In this sense, he might call Bitcoin a scam because he does not know how it works. So, please don't count words from noobs.
Bitcoin will never going to be zero. The market will go up and down over the time because of it's nature. But I don't Bitcoin going to be zero because there will be always some investors who will buy the DIP. Now the government and the big companies already joined the party. So, whoever think Bitcoin is scam, keep dreaming.
He said crypto scam not Bitcoin, so for me that's different and I'm with him said that crypto is scam because mostly scam, only little part exist with clear development the other just to raise money.
People think that investments that provide big and fast profits are usually scams because they don't know clearly how the Bitcoin market works.
People think that investments that provide big and fast profits are usually scams because they don't know clearly how the Bitcoin market works.
Some people try to separate bitcoin from cryptocurrencies but the reality is that bitcoin is part of the cryptocurrency industry so if someone says cryptocurrencies are a scam, they are probably referring to bitcoin too.
I do not deny that the cryptocurrency market is full of scams as it is an unregulated and relatively new market. But I disagree saying that crypto is a scam because there are also projects that exist and are developing seriously. Like many people call gambling a scam because there are also a lot of scams that happen in gambling, but as a gambler do you agree with this statement? Obviously you would also deny this statement and assume that they know nothing about gambling. Similar to cryptocurrency, it is not a scam.
Jamie Dimon is a classic liar!
He was skeptical, but now his bank is already pro-Bitcoin. He’s not the only one who started off doubting; others have changed their view too, especially as more big-name investors have jumped in. Still, when it comes to those big corporate bosses, who knows if they’re being honest? They might just be stirring up FUD so they can quietly grab more for themselves.
But from a regular guy’s perspective, his dislike for Bitcoin feels genuine. That’s normal, though, not really something worth making headlines over, lol.
Never heard about the guy, but it seems that it's becoming a trend to reevaluate some principles in people's minds once BTC hits something big.
Imagine their faces when it reaches one million after all the fud, hate, and misconceptions.
Bitcoin is frequently labeled a fiddle due to its association with fraud, extreme price volatility, and its ignorance to those used to traditional fiscal systems. Indeed individualities who benefit from it, like the one in the story, may still mistrust it, reflecting fear of the unknown and cognitive conflict. While dubitation is valid, dismissing Bitcoin entirely ignores its growing mileage and eventuality to homogenize finance. The real issue lies in refusing to understand its nuances, which could lead to missed openings. Education and critical thinking are essential for a balanced perspective.
Surely, anyone can read, learn, and start understanding BTC better to get something out of it - a set of ideas, a dream, a tool for investing, and so much more.
The only thing in question would be the dedication you would need to achieve what you would want.
Why are people quick to refer to Crypto specifically bitcoin as scam? This person bought bitcoins worth £383 in May 2022. As at December 6th 2024, it was worth £1,000. This is over 161.1% increase. He withdrew half of it and said he wants to leave the other half. What baffles me is that he still went ahead to say, Crypto is still a scam. That it has eventually favoured me doesn’t mean it’s not a scam. Infact he opined that it is unexplainable wealth. This human behaviour that is strange - skepticism persisting even in the face of its success. For me, the real scam is choosing not to understand Bitcoin and missing out on its potential benefits. Share your opinions.
Did you see where the person also posted that bitcoin or crypto or which ever it means is unexplainable wealth? Which means he did not know what bitcoin is. He did not know if it has limited supply and also he does not know what is driving the price up after a long period of time. He called what he did not know a scam which is definitely wrong.
Bitcoin is frequently labeled a fiddle due to its association with fraud, extreme price volatility, and its ignorance to those used to traditional fiscal systems. Indeed individualities who benefit from it, like the one in the story, may still mistrust it, reflecting fear of the unknown and cognitive conflict. While dubitation is valid, dismissing Bitcoin entirely ignores its growing mileage and eventuality to homogenize finance. The real issue lies in refusing to understand its nuances, which could lead to missed openings. Education and critical thinking are essential for a balanced perspective.
You don't have to take these people seriously. They've made some profits? good for them and still call Bitcoin or crypto as a scam? that doesn't matter. We've been hearing it from so many people in the past, big and small ones that have called it as a scam because of the nature of internet money has been not so new to them that it's been used by scammers. It's funny that someone has made money from it and probably thought of it as a networking that they've earned from other people's money for which technically is right and that's the same with the stock market and other financial markets where other people's involvement is a huge factor.
Jamie Dimon is a classic liar!
He was skeptical, but now his bank is already pro-Bitcoin. He’s not the only one who started off doubting; others have changed their view too, especially as more big-name investors have jumped in. Still, when it comes to those big corporate bosses, who knows if they’re being honest? They might just be stirring up FUD so they can quietly grab more for themselves.
But from a regular guy’s perspective, his dislike for Bitcoin feels genuine. That’s normal, though, not really something worth making headlines over, lol.
It helps to know who those people are and know a little about their background. Like when Jamie Dimon calls bitcoin "fraud", it helps to know that he was the CEO of a one of the most corrupt banks in the world called JP Morgan Chase.
Jamie Dimon is a classic liar!What he said repeatedly and what he did are completey different. He said many times as "Bitcoin is a fraud" and in the end, his company JP Morgan Chase opened its gate and provided many services, products to Bitcoin and cryptocurrency users.
The report from BitWise has information on Crypto Adoption by Institutions and it contains information to debunk Jamie Dimon's lies.
Bitcoin is a fraud
JPMorgan to give all wealth clients access to crypto funds.
All the times Dimon may regret..
He was probably expecting a 100x return, but it didn't happen, so he got disappointed and called Bitcoin a scam.
It all started with him seeing Bitcoin as a Ponzi scheme, or maybe whoever taught him just gave him the wrong info. Damn, as if we were born yesterday, you know how it goes, you can’t satisfy everyone, and that’s Bitcoin. of course, it has haters and it has supporters, but the best part is it has way more supporters than haters. That’s why Bitcoin will keep thriving, and so will the people who believe in it.
It all started with him seeing Bitcoin as a Ponzi scheme, or maybe whoever taught him just gave him the wrong info. Damn, as if we were born yesterday, you know how it goes, you can’t satisfy everyone, and that’s Bitcoin. of course, it has haters and it has supporters, but the best part is it has way more supporters than haters. That’s why Bitcoin will keep thriving, and so will the people who believe in it.
Why are people quick to refer to Crypto specifically bitcoin as scam?
It helps to know who those people are and know a little about their background. Like when Jamie Dimon calls bitcoin "fraud", it helps to know that he was the CEO of a one of the most corrupt banks in the world called JP Morgan Chase.With a quick search about this "doctor", it appears that he is somewhat of a politician who has worked with the government of Nigeria. In Nigeria bitcoin was banned until last year, and the ban was lifted by the government only to tax it and create revenue because they realized their ban has not worked and Nigerians have been using bitcoin ignoring the government's ban all this time.
It is clear from the tweet you shared as well that the government is interested in the tax revenue so its employees like this guy, also share that mindset that bitcoin is just for profit making.
So you can expect the "doctor" and "political economy analysis" to still follow the mindset of "bitcoin should be banned because it is scam" narrative.
Why are people quick to refer to Crypto specifically bitcoin as scam? This person bought bitcoins worth £383 in May 2022. As at December 6th 2024, it was worth £1,000. This is over 161.1% increase. He withdrew half of it and said he wants to leave the other half. What baffles me is that he still went ahead to say, Crypto is still a scam.
Whatever explanation, this saying from that investor is misleading.Bitcoin and cryptocurrency are not same terms, and Bitcoin is not scam, but there are thousands of cryptocurrency are scam. It's right to say most of crypto projects are scam.
That investor has broken mind, he got profit by investment in Bitcoin, and say it is scam, that's good. He can turn to invest in things like gold, stocks and come back to say how do he think about these things.
How many cryptocurrencies failed?
The man is a doctor. He must be capable of learning. So, it's either he is lazy or uninterested to learn Bitcoin or he learned about it but wasn't convinced.
People labelling Bitcoin as a scam aren't necessarily ignorant. It's possible they simply aren't convinced of the technology. They find no value in it, and for many reasons. Some of them may be thinking such a technology can't really function as a currency. Some are probably convinced that the current monetary system that we have today is the best.
For these people, the price of Bitcoin or profit they get from it doesn't matter. Taleb, for example, would remain against Bitcoin regardless of the price.
I can only wish that we're like them in some sense, that we, supporters of Bitcoin, are truly convinced of the technology and stick with it despite its market performance. Unfortunately, however, it seems many Bitcoin supporters are more ignorant than Bitcoin critics.
People labelling Bitcoin as a scam aren't necessarily ignorant. It's possible they simply aren't convinced of the technology. They find no value in it, and for many reasons. Some of them may be thinking such a technology can't really function as a currency. Some are probably convinced that the current monetary system that we have today is the best.
For these people, the price of Bitcoin or profit they get from it doesn't matter. Taleb, for example, would remain against Bitcoin regardless of the price.
I can only wish that we're like them in some sense, that we, supporters of Bitcoin, are truly convinced of the technology and stick with it despite its market performance. Unfortunately, however, it seems many Bitcoin supporters are more ignorant than Bitcoin critics.
so many skeptics are ignorant, and bitter. people like to believe that they are right, despite the fact that bitcoin has been climbing up and breaking ATH by ATH but these people just want to believe that BTC is scam just because they've been holding onto this belief for too long. do you know that there are people out there who believe people getting rich from BTC just an illusion and think BTC can't be converted to any other asset such as fiat and gold despite there's trading volume that amounts to billions everyday? trust me there are many.
i personally have seen too much people shitting on BTC where they don't even accumulate wealth as much as those BTC holders, basically average joe shitting on rich chad, pretty funny sometime.
i personally have seen too much people shitting on BTC where they don't even accumulate wealth as much as those BTC holders, basically average joe shitting on rich chad, pretty funny sometime.
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