- Jun 18, 2008
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Is Bitcoin a scam?.
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Is Bitcoin a Scam?
- Thread starter 52ndStreet
- Start date
It isn't a scam, but it can be a volatile investment. That's likely to be the case for a while, until more people understand how it actually works. I don't invest, because I'm not one of those people.Is Bitcoin a scam?
Justin Richardson
Diamond Member
- Apr 15, 2019
- 4,365
- 4,596
- 1,970
If you invest in Bitcoin, it can be a potential investment. If you don't know what you're doing, then you could lose money. Do your research and invest wisely. I invest in Bitcoin. Just bought 1k last week.
- Aug 4, 2009
- 281,398
- 142,631
- 2,615
Is Bitcoin a scam?.
I wouldn’t trust it
It is based on some arbitrary undefined value.
If someone were to declare it worthless, what can you do?
Bitcoin is based on nothing but greed.
There is no product except air.
Anyone who calls it an investment is deluded.
Someday the scam will collapse.
Leaving ton's of people broke, with nothing to show but shattered dreams of wealth. ...
There is no product except air.
Anyone who calls it an investment is deluded.
Someday the scam will collapse.
Leaving ton's of people broke, with nothing to show but shattered dreams of wealth. ...
Last edited:
- Oct 31, 2012
- 54,072
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You might argue that the US dollar is an even bigger scam.Is Bitcoin a scam?.
Hang on Sloopy
Diamond Member
- Jul 12, 2015
- 20,793
- 28,071
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- Banned
- #7
Not bad. I invested 1000 dollars early in 2011 and let it ride.
You'll need some to pay the ransom to get your computer working again.
Concerned American
Diamond Member
At this point they are the same. The USD is based on the GDP, which is really depressed and debt which has skyrocketed. The BTC is based on ???--buyers and sellers?You might argue that the US dollar is an even bigger scam.Is Bitcoin a scam?.
- Aug 4, 2009
- 281,398
- 142,631
- 2,615
You might argue that the US dollar is an even bigger scam.Is Bitcoin a scam?.
US Dollar has been around for over 200 years
It is basked on the faith and good trust of the US Government.
It is a currency standard around the globe.
What is standing behind the value of Bitcoin other than greed?
progressive hunter
Diamond Member
- Dec 11, 2018
- 60,241
- 36,635
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how is that different than the american dollar???Is Bitcoin a scam?.
I wouldn’t trust it
It is based on some arbitrary undefined value.
If someone were to declare it worthless, what can you do?
- Aug 4, 2009
- 281,398
- 142,631
- 2,615
The US Government stands behind the US Dollar and has for 200 yearshow is that different than the american dollar???Is Bitcoin a scam?.
I wouldn’t trust it
It is based on some arbitrary undefined value.
If someone were to declare it worthless, what can you do?
Who is standing behind your Bitcoin investment
progressive hunter
Diamond Member
- Dec 11, 2018
- 60,241
- 36,635
- 2,615
The US Government stands behind the US Dollar and has for 200 yearshow is that different than the american dollar???Is Bitcoin a scam?.
I wouldn’t trust it
It is based on some arbitrary undefined value.
If someone were to declare it worthless, what can you do?
Who is standing behind your Bitcoin investment
now thats some funny shit right there,,,
is that the same government thats borrowing money in the trillions????
you may want to rethink your answer,,,
- Aug 4, 2009
- 281,398
- 142,631
- 2,615
The US Government stands behind the US Dollar and has for 200 yearshow is that different than the american dollar???Is Bitcoin a scam?.
I wouldn’t trust it
It is based on some arbitrary undefined value.
If someone were to declare it worthless, what can you do?
Who is standing behind your Bitcoin investment
now thats some funny shit right there,,,
is that the same government thats borrowing money in the trillions????
you may want to rethink your answer,,,
I have 200 years of history and an Internationally accepted currency supported by the GDP of the wealthiest nation on earth
What does Bitcoin have?
Worthless coins
The US dollar is backed by the Federal government and has laws in place to keep it regulated and illegal to counterfeit.
Bitcoin has no product, and is backed by nothing and no one. Who started and owns this so called digital currency is mystery. ....
Bitcoin has no product, and is backed by nothing and no one. Who started and owns this so called digital currency is mystery. ....
Likkmee
Gold Member
How much does the coin weigh ?Is Bitcoin a scam?.
progressive hunter
Diamond Member
- Dec 11, 2018
- 60,241
- 36,635
- 2,615
The US Government stands behind the US Dollar and has for 200 yearshow is that different than the american dollar???Is Bitcoin a scam?.
I wouldn’t trust it
It is based on some arbitrary undefined value.
If someone were to declare it worthless, what can you do?
Who is standing behind your Bitcoin investment
now thats some funny shit right there,,,
is that the same government thats borrowing money in the trillions????
you may want to rethink your answer,,,
I have 200 years of history and an Internationally accepted currency supported by the GDP of the wealthiest nation on earth
What does Bitcoin have?
Worthless coins
I have 30 trillion in current debt to make your point wrong,,,
Fueri
Platinum Member
- Nov 16, 2015
- 6,271
- 3,987
- 1,065
It is a completely decentralized platform with no-one controlling more than 50% of the hashing power, with hashing/mining taking place all over the world in places ranging from large farms to single mining units in people's basements.
It is a lot of things, but it is definitively not a scam, as nobody actually controls it.
There is a finite supply so no central bank can simply pump the supply to influence price. In fact one of the major things governments hate most is that they have virtually zero control over a system like this. They don't and neither does anyone else.
There are, however, whales in the BTC market that can move the price, although you see those sorts of pump and dumps more often in the altcoin market than in BTC at this point, which is traded by major institutional investors at this point.
It is a lot of things, but it is definitively not a scam, as nobody actually controls it.
There is a finite supply so no central bank can simply pump the supply to influence price. In fact one of the major things governments hate most is that they have virtually zero control over a system like this. They don't and neither does anyone else.
There are, however, whales in the BTC market that can move the price, although you see those sorts of pump and dumps more often in the altcoin market than in BTC at this point, which is traded by major institutional investors at this point.
Actually, you just proved his point. US currency can have debt or even surplus, because it represents tangible goods and products.I have 30 trillion in current debt to make your point wrong,,,
Whereas, Bitcoin has neither, because the only product is thin air backed by nothing and no one. ...
progressive hunter
Diamond Member
- Dec 11, 2018
- 60,241
- 36,635
- 2,615
fact is neither can pay off their debts,, and the government has all the slaves they need to provide for their spending extravaganzas,,,Actually, you just proved his point. US currency can have debt or even surplus, because it represents tangible goods and products.I have 30 trillion in current debt to make your point wrong,,,
Whereas, Bitcoin has neither, because the only product is thin air backed by nothing and no one. ...
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