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Do you believe that BitCoin is a scam or a ponzi scheme?

Yes 0.31914893617021 31.9% [ 15 ]
No 0.25531914893617 25.5% [ 12 ]
Undecided 0.42553191489362 42.6% [ 20 ]
Total Votes:[ 47 ]
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This video has the strongest arguments against BitCoins I seen on Youtube.
The best point said is that if there was a major power outage.
BitCoin would be obsolete and useless.



BitCoin is going to be a trend like Myspace lol.

OG GO

except the people who got into it like 3 years ago or so bought theirs for 50 cents a piece and can now sell them for nearly $1000 per bit rates like that are like whoa. And when cashed out well s**t

the future, eh who knows
The problem with bitcoin is the lack of regulation.

I AM R U's Spouse

Blessed Rogue

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I don't think it's a "scam" per-say. But definitely not the smartest idea for an investment.

Fanatical Zealot

I don't think "scam" or "ponzi scheme" is truly an accurate term for it, but, as far as "extremely bad idea" goes, yes, definitely.

You put your money into a commodity that's supposed to be treated like a currency, yet can be exploited by any website owner and taken and used digitally. It would be like buying gaia gold and then being upset if you got banned. Putting large volumes of real money into fake stuff is just a bad idea. Then we're talking about the general lack of regulation and extreme inflation in the last few years alone, and Bitcoin is a bad idea specifically.
I thought this was just so the gov cant block you from getting paid

Eloquent Sophomore

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Rebeldoomer
This video has the strongest arguments against BitCoins I seen on Youtube.
The best point said is that if there was a major power outage.

If there was a power outage large enough to take out bitcoin, the failure of bitcoin would be the least of our problems.

Given the computing power required to farm bitcoins these days, I don't think most of us will have to worry about whether it's legit.
my wife the whore
bitcoin is a hilarious example of how many adults have a near absent grasp on how money works

stupider than gamblers
Well, how does money work? I always thought money is nothing more than an accepted means of trade, like seashells or rare metals.
Damien_Hargreaves
except the people who got into it like 3 years ago or so bought theirs for 50 cents a piece and can now sell them for nearly $1000 per bit rates like that are like whoa. And when cashed out well s**t

the future, eh who knows

Actually, the current exchange rate for bitcoin is about 300 bucks per bitcoin.

While that's a great rate if you have bitcoin, the problem is that, if you look at its trends, its on the down-slope.

At the end of the day, bitcoin is just too unstable. You can look at it one hour and its getting thousands or more in exchange. The next hour or day and its down to 100, 200, or 300 dollars.

OG GO

Riviera de la Mancha
Damien_Hargreaves
except the people who got into it like 3 years ago or so bought theirs for 50 cents a piece and can now sell them for nearly $1000 per bit rates like that are like whoa. And when cashed out well s**t

the future, eh who knows

Actually, the current exchange rate for bitcoin is about 300 bucks per bitcoin.

While that's a great rate if you have bitcoin, the problem is that, if you look at its trends, its on the down-slope.

At the end of the day, bitcoin is just too unstable. You can look at it one hour and its getting thousands or more in exchange. The next hour or day and its down to 100, 200, or 300 dollars.


Check the waves on the stat board, it did almost climb to $3000 for a period and continues to inflate and deflate as more are produced and people get curious. It trends, people buy or mine, the inflation happens, people sell, it becomes less popular again, deflation ((unlike gaia)) and then a steady market.

It does cost more now than it did in the beginning, sure. That's how a marketplace works, The point of the system is by 2020 or so they wont produce anymore coins ((unlike the federal government that never stops printing, devaluing the currency and essentially lying to you about it))

It is a consumer run currency, if you have it you can trade it. Goods and services are being incorporated into it more and more. These stages how ever are all in their respectful infancies though as the system is relatively still new.

You don't have to join the trend, it has been both beneficial to some who jumped on it right away and detrimental to those who either got carried away or didn't fully understand the process before spending the cost of their homes on the s**t and getting hacked or some thing.

If your going to try and gt rich quick, or scheme with big money and lucrative opportunity. Of course there are going to be big risks.

This is why we have shows like the dragons den/ shark tank. ((take a look at those people, what they did to become rich/famous/successful. It did not happen over night, there's much education and self learning/discipline involved. Not to mention having an eye for being able to topple your competition.
Damien_Hargreaves
Riviera de la Mancha
Damien_Hargreaves
except the people who got into it like 3 years ago or so bought theirs for 50 cents a piece and can now sell them for nearly $1000 per bit rates like that are like whoa. And when cashed out well s**t

the future, eh who knows

Actually, the current exchange rate for bitcoin is about 300 bucks per bitcoin.

While that's a great rate if you have bitcoin, the problem is that, if you look at its trends, its on the down-slope.

At the end of the day, bitcoin is just too unstable. You can look at it one hour and its getting thousands or more in exchange. The next hour or day and its down to 100, 200, or 300 dollars.


Check the waves on the stat board, it did almost climb to $3000 for a period and continues to inflate and deflate as more are produced and people get curious. It trends, people buy or mine, the inflation happens, people sell, it becomes less popular again, deflation ((unlike gaia)) and then a steady market.

It does cost more now than it did in the beginning, sure. That's how a marketplace works, The point of the system is by 2020 or so they wont produce anymore coins ((unlike the federal government that never stops printing, devaluing the currency and essentially lying to you about it))

It is a consumer run currency, if you have it you can trade it. Goods and services are being incorporated into it more and more. These stages how ever are all in their respectful infancies though as the system is relatively still new.

You don't have to join the trend, it has been both beneficial to some who jumped on it right away and detrimental to those who either got carried away or didn't fully understand the process before spending the cost of their homes on the s**t and getting hacked or some thing.

If your going to try and gt rich quick, or scheme with big money and lucrative opportunity. Of course there are going to be big risks.

This is why we have shows like the dragons den/ shark tank. ((take a look at those people, what they did to become rich/famous/successful. It did not happen over night, there's much education and self learning/discipline involved. Not to mention having an eye for being able to topple your competition.

Where you get your belief that bitcoin will stabilize seems like wishful thinking to me, especially within five years. Its rates are clearly trending down, and even if we assume its going to even out at some point and is still around in five years, its going to take way longer than five years.

And the US has never lied to anyone about printing money. Its pretty transparent overall. Whether you think that's good or bad is a different question, but there is no doubt that it is transparent when it prints money and doesn't lie to anyone about it.

The rest of your post is not really relevant to my comment, as I was discussing the highly volitile nature of bitcoin and how this makes it a highly suspect investment for anyone.

OG GO

Riviera de la Mancha
Bit coin explination video
Bit coin atm test though not very useful yet
Top 10 bitcoin facts
Actually the rest of my post was accurately relevant, if your going to play with investments you should consider all forms as research. Im not by any means an expert, Just started researching a few days prior to seeing this forum. It's not so much belief but mimicking response from what i have seen and can organize in my mind as to the current trend. I do not stand by nor support Bit coin to be an end all be all but the information is there if you are willing to take the time to search more. It does in fact state that because it will no longer produce more bits after a certain period of time, the ones left in circulation by the buyers/traders/sellers will be stabilized by the public community. Will this be the case? hell if i know but it is a good experiment.
The point of the bit coin is to compete against the ridiculous quality of printed money. The value of which well there really isn't much, but the belief there is is why it's still used.
Damien_Hargreaves
Riviera de la Mancha
Bit coin explination video
Bit coin atm test though not very useful yet
Top 10 bitcoin facts
Actually the rest of my post was accurately relevant, if your going to play with investments you should consider all forms as research. Im not by any means an expert, Just started researching a few days prior to seeing this forum. It's not so much belief but mimicking response from what i have seen and can organize in my mind as to the current trend. I do not stand by nor support Bit coin to be an end all be all but the information is there if you are willing to take the time to search more. It does in fact state that because it will no longer produce more bits after a certain period of time, the ones left in circulation by the buyers/traders/sellers will be stabilized by the public community. Will this be the case? hell if i know but it is a good experiment.
The point of the bit coin is to compete against the ridiculous quality of printed money. The value of which well there really isn't much, but the belief there is is why it's still used.

I have considered a good amount of research on the subject, and from what I have seen, most experts still hold bitcoin as a highly volitile investment that should only be undertaken by those with the financial fortitude to basically lose all of their investment.

I get the point of bitcoin, which is why I don't call it a ponzi scheme. Just a highly risky investment because it is so unstable and therefore should be seriously contemplated before investing even a penny in a bitcoin purchase.

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