Bitcoin Forum

20k$ dumped to 6K$ was difficult but happened, 6k$ to 500$ is very easy soon will be worthless,  So  Why Some People Dont Believe BTC is SCAM?

I think this is very reasonable ....
because there is some news that is very discouraging BTC so they mengatan fraud
and maybe new investors are buying at high prices and when prices are low and never come back at this time they can not hold back and be patient so sell them for a very low price and in the end they think bitcoin is a scam.
but for how much bitcoin prices for the foreseeable future we do not know but do not ask for the possibility that all speculation will become real

A falling price does not make it a scam.

The price of an Amazon.com share went from $105 in 1999 to $8 in 2001. Is Amazon.com a scam?

People don't believe BTC is SCAM mabey because the Value of btc is golden and 24/7 trusted of all users.This is easy ways to invest and earn a lot.

We do not have to worry about the issue of bitcoin prices that are going down as it is today, because the current price still includes the high price and the initial creation of bitcoin has a very cheap price compared to the current price, so bitcoin will not be scam.

Because it isn’t! I think people should know that by now. The only people I know that still think of bitcoin is a scam are those who lost money big time and those who don’t know what cryptocurrency is. ;)

You are conflating volatility with being a scam. Bitcoin has always been a highly volatile asset due to being a relatively new technology. In fact its volatility has been among the biggest things attracting investors to it. However, as the technology matures there will probably be less volatility.

I think that the people who do not believe in btc and believe that it is a scam are those people investing btc that do not have enough knowledge and understanding about the the currency. The most important thing they should do is to familiarize and study the market trend movement prior to do invesment. They should consider to invest during bear market and hold while waiting when btc will recover.

Yes that would be right. Just because the price fall from $20k to $6k you would immediately say it is scam? Just like the example above, Amazon is clearly a legit company and the same would be applicable to bitcoin. It is not a scam because no one intends to defraud people about bitcoin by creating it and then creator run with the money because even if we don't know the creator of bitcoin, his bitcoin is still there and it wasn't touch.

Some people would just say bitcoin is scam because of lack of knowledge about it. If they would deeply understand it then they can say that the company that uses bitcoin to scam others are the one that are illicit but bitcoin alone is not scam.

Yes that happened but compare today's price from the past.

July 2018 = $6,605
July 2017 = $2,521
July 2016 = $639

Really? have you sold most of your coins @ $500?

Stop spreading FUD.

Bitcoin did fall/crash but it doesn't mean it is a scam.

ugh. people who don't know the first thing about bitcoin and apparently about investments in general should not be creating threads.

Because bitcoin is not scam.  Bitcoin is the best cryptocurrency and best of investment. Bitcoin has proved itself that bitcoin is not a scam. Proven until now more and more people who invest in bitcoin even some countries legalize bitcoin. Even to this day bitcoin still survive and the price increases every year.

Bitcoin is not scam. I don't believe you because if bitcoin is scam many people will complain about this coin but look the people who are thankful to bitcoin becauss they earn money. Downing price of the bitcoin it's because of us because we are the seller of the bitcoin. If you don't believe to bitcoin better if you do not brainwash the people here.

It's not a scam. It's not a failure either. Bitcoin is simply outdated

BTC has been on the playing field for over 7 years... And what should we expect from such a coin? To still be standing strong among all the others?
No, I'd have rendered it worthless long ago already, yet it's still standing and the largest coin at the moment!

There are so many coins that are much more potent than Bitcoin, offering faster & cheaper transactions, more anonymity/easier regulation or other awesome features.

Bitcoin was a great step that had to be taken to start the era of cryptocurrencies and so I would not call it a scam. I wouldn't call it a failure either. It's very simply an outdated coin and I expect it to steadily decrease in value, until it reaches a "collector's item" status. But with 21 million coins available and only a couple collectors, I doubt Bitcoin will stick at a high price.

The main cause of its current reasonably high price is the ignorance of people... There are a lot of inexperienced investors who don't know a lot about Cryptocurrencies and only see Bitcoin in the news. What is the result? They put their money on bitcoin! The second reason is a bit harder to overcome: Bitcoin is by far the most accepted cryptocurrency... If I look for webstores that accept cryptocurrencies, there are quite some stores that accept Bitcoin but I rarely see any accepting other cryptos.

So to answer your question: Is bitcoin a scam? No, it isn't. It's simply an example of outdated technology.

People don't believe it's a scam because it's obvious it's not. It's an open source protocol that's been going since early 2009 and has been wildly successful.

If you think normal market movement and supply and demand is indicative of a scam, then you must think basically everything involving money is a scam.

will not fall to the $ 500 price  ::)
You say bitcoin is a scam, then your destination in this forum what? You just want to seek knowledge or discuss? nonsense.

People don't believe because bitcoin is not a Scam. Many bankers and governments want to inspire people that bitcoin is a fraud because they do not want to part with the monopoly on the distribution and control of banknotes. But the world will never be the same as it was before the advent of cryptocurrency.

If you are just basing everything on the price then your assumptions is wrong at the very beginning so obviously your argument is flaw. If bitcoin is a scam, this crypto currency will not last long enough. Scams are caught easily when the hype died down and someone took off with the money. But bitcoin is design not to take money but makes us more of it. Those saying bitcoin is scam has either other motives behind or doesn't really understand how the market operates.

How can the crash from $20k to $6k justify that Bitcoin is a scam? Even if the Bitcoin become worthless what is the correlation of it to scam? Bitcoin behaves just like stock market and do they say that stock market is a scam? Let me answer those questions for you: it cannot, nope, and nope. Your argument about Bitcoin being a scam is very much flawed.

Because not all people are noob like you, they have already seen massive volatility and are pretty much confident that market will recover soon.

Don't forget that price once got dumped from $1k to $200 but later pumped to over $20k after recovering from $1k in less than a year period same can occur if price will recover above $20k again.

I can not blame you for doubting bitcoin just because the price is too low at the moment and there might not have any recovery for the price to pump and for us to see another bull run, But thinking this way can not change the fact that we are in a bear market, And do you have any proof for saying such accuse towards bitcoin, We are only in the midst of the Bear Market, What if the Bull Market would come can you still say that is is a scam or fraud? Because in my opinion it is a good time to buy more for the upcoming bull run to come.

Why would we believe it to be a scam when we’re profiting from it.. And why would anyone in this forum believe someone who even have problem with constructing a simple sentences.. Your action justify your hate on bitcoin for an unknown reason and that shows how desperate you’re to prove a point..

It’s the first time that I would not respect someone’s opinion when all that it show is all LIE..

Because they worship the State as a almight god. So, for them, fiat money is "safe", and bitcoin is a "scam".

My guess is that half of humanity are State worshippers, but bitcoin only needs 20% adoption to reach the price of 1 million dollars.

Even when we reach 2% adoption (100k price), they will still say its a scam. They will only stop saying its a scam, if nation-states adopt it, as a alternate "national" currency.

If it's so easy to have a decrease in price from $6000 to $500, why didn't it happen yet?
There is no reason to believe BTC is a scam, simply because it's not. Bitcoin doesn't promise you any guaranteed return. It's not like a scam scheme that says you will earn 10% daily profit for a month or lifetime. The risks and rules here are clear.

BTC is not a scam because it was successfully run in the market and still is continue in market so no one is accept this probability.
But 2009 many of them said it is scam one at the same after 2015 everyone believe the Bitcoin potential so no one is oppose the Bitcoin.

I have three questions for you and if you satisfy me with some reasonable anseer then I would believe Bitcoin is a scam.

• If Bitcoin is a Scam then why are some countries (even some Developed countries recognized Bitcoin as some kind of asset?
• If Bitcoin is a scam then why some governments have found a way to regulate cryptocurrencies through livensed crypto exchanges?
• If Bitcoin is a scam then why have a lot of people not even connected to each other became rich with it ?

I'll be waiting for your answers and expect that I will have a rebut your reply. I just hope that you have a proper explanation.

This is right, we cannot called it as scam because it is still existing and working through this year. Even the market suffer from bloodbath price it can recover. We can see a good show anytime in bitcoin and those believe it was scam due to lack of knowledge about btc.

It's not about the dropping of the value of BTC that makes it a scam as we see that price affected by many factors... And a lot competition is on the market unlike valuable jewelries that has only one of its kind that support its price increase...

Bitcoin is not scam yes we can dumping now of the price but it doesn't mean bitcoin scam us it's depending on demand in the crypto market so bitcoin price is flow to what in demand in market if people always dumping of course it will cause of dropping of price. So I don't believe that bitcoin is scam.

What is your reason why do you said that? Do you have any proof that it is? You don't know the factor of the fluctuation of bitcoin if could just say so. Most factors of why bitcoin's denying the market was of the FUD that hits in every news and the hacking incident always brings down the market of bitcoin.

Those who say btc is scam are those hater. I suggest don't pay much attention on them. We'd better focus on earning while they are not. Also for you op, you're also a bitcoiner but why are you asking such things like you aren't bitcoiner too or maybe not.

OP, why always consider the price crash and think "scam". Maybe you are correct if you said the market is a "scam". But Bitcoin? No. Provable scarcity, censorship resistance, immutability and trust-minimized. There is no "scam", and sorry for your loss.

whether bitcoin is a scam, I think not, but if there is some say bitcoin scam due to falling prices I think not, some countries have legalized bitcoin or crypto as one of alternative trading or exchange tool, my opinion scam is not seen from price but from how the project can be trusted and how the system with the wider community, with the volume amount, may be useful and successful for all of us

The person who only thinks Bitcoin is a SCAM then that person has no sense of wanting to get a far better life. They are people who do not want to learn a new thing, but in the current era of technology then crypto is an answer to facilitate various financial transactions. Digitalization is a thing that must be applied soon and it is now proven that when someone can use it well they are one step closer to success.

i think you are the only person that never get profit from bitcoin. even from trading or investing...why should bitcoin has to be scam if most of users here are getting rich with bitcoin? or you just the unlucky person that bought from all time high price and now you have cut your loss? think twice or thousand times before you make thread, and why did some people stil mining bitcoin if btc was scam?

Most people I talk to in real life still think bitcoin is a scam.  It will take a long time to change their minds.  Then you add the fact that the founder still has  about one millions coins to himself, it makes this look like a giant ponzi.

What's been mentioned in the Op doesn't make sense. Bitcoin is a technological innovation that has made a big change upon the financial system that's been followed around the world. With the growth it attained over years, the use of bitcoin increased through different ways. If it's a scam at some point it could have exploded and have gone out of use.

lol, who scammed you? If you bought an asset very high this doesn't mean that something wrong with an asset

price dumping isn't a factor to consider something as scam 

No I don’t believe that bitcoin is scam because I believe that you are looking only the big dip in the price but you are not looking the big jump in the price. That was totally unnatural and investors were happy because of the big profit but suddenly people saw big dump in the price. That was because of the correction of the huge pump in the price. Why you didn’t say anything about the big pump in the price last year?

Because they believe the future of bitcoin, bitcoin is not a scam it's a virtual currency and it just the price down, bitcoin still alive and very useful so those who think that bitcoin is a scam are no knowledge about bitcoin.

But you also forget to talk about how it went from about next to nothing till it reached the $20K mark. You also didn't put into consideration the various factors responsible for the increment at the time and several hurdles that had to be crossed to reached that level. In addition to that, you have not make reference to the several developments happening in the field of blockchain which undoubtedly cannot be said to the scam and if that cannot be scam, I don't see any basis why bitcoin should be.

Its true that the fall is something to be weary of because of the magnitude of what has happened but at the same time, people who are conversant enough knows the dynamics of the market and are always prepared for the trying times like the one being faced currently. I wonder what you will talk about when things starts looking green again.

Some peoples are beginners in crypto platform so they do not know about the Bitcoin so they are all spread the rumours in Bitcoin and some social medias are blindly announce the wrong news so many investors also afraid in this situation. It will change soon again all are understand the Bitcoin potential.

BITCOIN IS NOT A SCAM, price dipped from 20,000 USD to 6000 USD does not define it as being a scam,it only means it is volatile,.Crude oil for sold for 25$ at some point,then went as high as 200$, does that mean it is a scam?

Maybe for you BTC is a scam, and I know why you think like that - you probably invested some money when the price was high and now you can not wait to see that price again. This is problem with people who do not understand anything about BTC or cryptocurrency in general, but it is very easy for them to call something scam just because it lost value temporarily.

That pump was big, and correction which has followed after that was expected, but just look in past and check price over the years. Today price is actually something that most of users did not even dream at start of 2017, so we are more then good at this moment.

I do not know how you predict 500$ per BTC and why this should happen, are you in contact with Mr.Buffett maybe?

Appreciate you on analyzing the growth trend of Bitcoin. What really made you to feel its a scam when everyone is benefiting out of bitcoin and have enhanced their wealth and life style with just BITCOIN. Dude i would say, you need to get more deeper into it. Study more on each altcoin's growth especially bitcoin's growth. What really made you to get into this community unless and until you truly believe that bitcoin would yield you something? Just do not spoil the community members especially the new beginners with negative thoughts and impressions.

A newbie posting again about BTC being a scam. You're saying that BTC is a scam just because of the price movement of it??? Try to see the trend and you will see idiot.

The DotCom Bubble occurred roughly from 1997 to 2001. So you are saying that is a scam too then??

Whoever said BTC is a scam doesn't understand how this amazing Blockchain technology works,  this is just like you investing in Gold and other physical assets, whenever the price/value reduces  will you say its scam? No! So think about it well before you claim its scam..

There are several people who experience a bad luck in cryptocurrency, maybe ico's scam their money or they failed on trading and they give up which leads for them to spread fake news like it was a scam.

Bitcoin is basically backed by blockchain technology and this technology will take over the whole world in the future. It is not possible that they promote a scam crypto. The world is turning towards digital currency and bitcoin is the leading crypto in the world. People from all over the world will use only bitcoin as their legal and regular currency in the future.

People dont believe btc is a scam because they knew and understand what btc is ,and for me its not really a scam the dumping of price its just part of a cycle, if you are knowledgeable enough in crypto you know whats happening in the market and you will not always complain why the price is low ,people who still believe in bitcoin meaning they found it out how btc important in their lives financially.

Not every people are lucky with cryptocurrency, some of them are not wealthy enough to invest or other are being scammed by an ico so people have different mind set towards cryptocurrency.

A Falling btc prices on the market does not mean btc is a scam, just like any other cryptocurrency there will always be a drastic increase and decrease, so it's important to know that digital asset trading is a high risk activity, do research before investing in crypto, don't let only because we suffered losses we judge to an coin is a scam, because we never know what will happen future whether a significant increase or a drastic decline, no one can predict with certainty

I don't believe BTC is Scam.Just keep in mind,this price fluctuation in the price of bitcoin is due to decentralized concept.And don't come into conclusion,the price fluctuation is due to lack of support of bitcoin in the market.Sometimes the price fluctuation is due to the FUD in the market.

Why do you say so? If you think that bitcoin is a scam then why are you here. You are just spreading FUD and it does not do good.

Lol. Let him be. Probably lost a lot of money when he bought in close to 20k :D though anything is possible, people who have been in crypto for years understand what's going on and as long as people and whales are in btc, which most likely will be the case for a long time, it will stay.

Well this is right, we have different point of views about bitcoin that others they easily believe that btc is a scam. It so happen it did not meet on our expectation about the price but does not mean it is a scam. A lot of things can happen actually and we have more months to go price of btc can have rapid growth this year ends.

Because it is not a SCAM and it will never be, the best thing that you can do is just to stay away from bitcoin if you do not know how it works and the way that this technology works, better to stay away from it, and from this community, you don't undersstand how it works

Because they already knew that cryptocurrency is very profitable since there are a lot of people already who are wealthy today because they invest before when the market price is still cheap.

Those people knew the truth about how bitcoins is very profitable and maybe they are earning a huge amount of profit through trading in the market which they can actually use to sustain their daily needs.

This is simple because bitcoin is not a scam, bitcoin is a completely new way to understand the economy and a currency so it is an experiment, it can fail but that does not make it a scam or you would call all of those business that fail scams as well? But the most likely scenario is one in which bitcoin succeeds and those crashes will be nothing when looking at the long term history of bitcoin.

Lol, the value may continue to dump but it doesn’t mean bitcoin is a scam. Can you tell me some compang in the stockmarket who never dump? Bitcoin is not a scam and I can confirm it to many people because I’m making a good money here.

Those are the real believers of bitcoin and they knew that bitcoin is not a scam so they continue to invest with it. Its normal to pump and dump the market, and those people think bitcoin is a scam better to stay away from this market.

Sorry, but you aren't helping anyone with what you are saying. So basically, Bitcoin according to you is not a scam because you (we have to assume that) are making money? The market and the money making aspect are unreliable and should never be used as argument why Bitcoin is good or bad. The only point of importance is that the network never fails to deliver in terms of decentralization and quick and easy transfer of value. Everything else is redundant and not important. While people keep panicking about the price being low and all that, Bitcoin itself has been progressing consistently, why can't people see that? Don't be blinded by the price....

I said several times that prices will crash
i think bitcoin price  will drop to 3000 soon
Prices have been inflated
The price must be between 2000-4000 usd per btc
How can the market be under the canines of 1 bitcoin adress that have 20000 btc for example of totale Circulating Supply 17 149 300 BTC !! or if someone dump 20000 btc ... price will crash to 500 usd per btc !!! ???

I agree with this, the fact that a person is making money with a coin does not mean the coin is not a scam, we could easily point to a number of projects that were confirmed scams and yet people made money, an example was BitConnect many people made money with that coin and yet it was a scam and as a result many people lost money as well, so that is the wrong way to look at things, as long as the bitcoin network allows a safe environment to exchange value all over the world bitcoin has fulfilled its mission.

Oh really? You think bitcoin is scam? You understand technology behind it? If not read more than one time the whitepaper of bitcoin. Bitcoin is not a scam, and most of altcoins are not scam. Maybe you say that because you want to buy bitcoin with lower price, isn't you?

Nice comparison and i wont really be surprised on these kind of thinking on where other people do have on their minds.When they do lose up money or do see such price dump they do directly judge that this is scam but well i can blamed those people yet online do have lots of scams involved where it cant really be avoided to have those views or impressions but in the situation of BTC it is entirely different because if we do try out to see its past or history of price movement we cant really say that this is a scam but due to volatility you can really lose up money but just basing only on its tech or innovation we can somehow assure that this would last up for some time.

People have different mindset and most of them did not want to take risk by investing and that is the reason why some of them think that cryptocurrency is a scam.

The price can't be indicators that it is a scam, Bitcoin never intended become asset and being trade, Bitcoin supposed to become a currency that could be used in all countries, so the price going up and down is based on the transaction volume, so it's purely depend on supply and demand, the one that makes the price go from 20k$ to 6k$ is because all of us, some whales dumping and we see the price has fallen too deep we also contribute to sell,if we can convince more investors to invest the price will go up again

People called bitcoin as scam and do not believe on btc because of focusing on the value only. Price drops from all time high and doesnt understand it's volatile that utter of scam. They dont know anything the truth behind of bitcoin as cryptocurrency so once they understand it they can say it is not scam.

I think there are some people who still do not believe in bitcoin and they say bitcoin is a scam that is one of the people who are stuck in a place of bitcoin mining like ponzi, double, gambling and so on so they get a loss.

think logically, most of peoples already take their profits from bitcoin or by investing in bitcoin. so what should make them believe or said that bitcoin was scam? did you lost your money here? or you have take your risk bt cutting your lost without any consideration to hold it for long term investment? or you expect too much from bitcoin to get rich quickly? we fed up enough by such thread,complaining the falling price of bitcoin and shouting to other to not invest in bitcoin.

does your goal of making this tread is to persuade everyone to believe that bitcoin is a scam?
you are just doing nothing, the confidence in bitcoin is still on the rise.
and I see the market is starting to green.

yes, just calm down.
bitcoin will never return to its walt price which is only equivalent to 3 pizzas, and I think this kind of panic is not at all important.
HODL HODL HODL that I can suggest for now.

Why don't you know now bitcoin is functioning? You obviously missed some basics.

Do you really want to know that bitcoin is a scam or not?

You have an idea and knowledge about the all time high and still you don't know if its a scam or not? It's also easy for bitcoin to come back from $6,000 to $20,000 again.

Appreciate  you  on  analyzing  the  growth  trend  of  bitcoin.  What  really made you  to feel  it’s a scam when  everyone  is  benefiting  out  of  bitcoin and  have  enhanced  their wealth  and life style  with  just  bitcoin.  Dude I would  say,  you  need  to  get more deeper into it.  Study  more  on each altcoin’s  growth  especially  bitcoin’s  growth. What really  made  you to get into  this community  unless  and until  you truly  believe  that  bitcoin would  yield something?  Just  do not  spoil  the  community members  especially  the new beginners  with  negative  thoughts and  impressions.

Bitcoin reached $20k briefly and then dropped to around $15k. Where was only few days. From there went to $6k in few weeks.  That was not difficult, but quiet easy and fast. That was also quite normal and expected. That is like x3 fall.

Now you want it to go from $6k to $500? A 12 times drop. Now that we already had a x3 drop? That is not expected anymore. That would be quite irregular. Such thing could only happen with some fatal flaw in a Bitcoin protocol. I give it less then a 1% for that to happen and for that to happen in next year way less then a 0.1%.


But Bitcoin is not a scam or is a scam because of price. That has nothing to do with being one at all. I suggest you to search for reasons elsewhere.

Bitcoin is a promising platform and many companies are adopting the Bitcoin so all are believe this coin. But few peoples are creating the negative rumours of Bitcoin so some peoples are confused in Cryptocurrency. I have more experience in Crypto platform so I know the scam and good project. If you don't believe the Bitcoin you are not fit in Crypto so better stay away in trading.