Bitcoin Forum

... and it’s still happening!

by Jonald Fyookball Oct 20, 2018

[Btw, this article answers all kinds of questions in this section of the Bitcointalk forum. OP]

Wanna know what’s the greatest scam in the entire world of cryptocurrency?

Take a guess… Is it MtGox? OneCoin? Nope. How about Bitconnect?

No… there’s a scam that’s much bigger than all of those put together, and it’s still going on to this very day.

It’s one of those illusions that hides in plain sight.

The closest thing I can compare it to is when you find out the federal reserve isn’t “federal”, it’s a private institution that holds a monopoly on the issuance of currency in the USA, and has never been audited.

The persistent of such institutionalized, parasitic schemes can only continue because of ignorance of the masses.

I’m talking about something so insidious that it’s almost unbelievable…

Ok, I won’t hold you in suspense any longer. Here it is:

The biggest scam in crypto is that BTC is no longer Bitcoin!

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You can read the whole article at https://medium.com/@jonaldfyookball/by-far-the-biggest-crypto-scam-ever-and-its-still-happening-a23ed102d039.

So, what do you think?

8)

It seems that it is all about Bitcoin Cash story while bashing the idea of Satoshi for creating Bitcoin.
Whoever made that article must be a bagholder of BCH though the article is five[5] months old since we are still in a bearish trend. I think it's a propaganda to raise some investors of BCH.

Sorry for some, but the bch attempt it's a pathetic one to which took a good bunch of credulous people into believing bch would somehow be worth more than bitcoin.
Just, wait for 50k btc and perhaps bch will be worth again what it got to be worth last time. Or perhaps you and your people will hold the bag enough for price to get funny?

I have ask every investor always looking for best and potential ICO for investing your money and check how trusted team and owner before investing money there, never hold your asset for long time because many altcoin have delist on exchange with lower and scam.

Another pathetic attempt to deframe bitcoin! Transaction processing capability was indeed a challenge but with the introduction of segwit, it's not really a challenge anymore looking at the current volume. The additional layer of LN will scale it even further which will be able to handle the real world volume if anytime bitcoin becomes the world currency (the chance is pretty slim)!

But I am wondering why BCH (BC is slang in India), always have to attack bitcoin to gain some momentum or some prominence? If technical advancement is the key reason for a currency to survive, talk about Tron, ETH or even EOS. Why BCH??

I somehow started to believe in the article. It seems like the market price movement that happen from its huge fall down in just a short period of time or in daily basis where it seems like it was being manipulated. Many are stating that it was the whales controlling the market but I do not think that it was the huge investors for there could still be more reason on this.

Anyway, the good thing is that wether bitcoin is scam or not still we could earn on it by doing bounty campaigns and etc.

I agree with the article, Bitcoin has technically been limited and it is not a dynamic system, even here is the comparison with Bitcoin Cash that can process 100 transactions per second and Bitcoin just 6, this design problem can take its toll and limits the possibility of practical and commercial use.

So does OP considered as a shiller for BCH now? anybody? Starting to read his initial lines of statement i kinda feel "I think I know where this is going" and it truly does. Even in my whole life of using crypto currencies I have never used BCH before and never bought a single coin.

The blog is even 5 months old, why bother to open a topic that is already dead and disregarded? Disappointed here.

someone who dedicated his past 2 years to BCash and has been too involved with it that it has blinded him to realities of how scammy that is and how the creators of that centralized altcoin have been fooling people is not the best source of information about bitcoin! so i wouldn't waste my time reading anything he has written.

I neither do agree with OP and not with the author.
I can agree with author if network is choked and Dev is doing nothing. If everything is working fine then why we want to bloat the blockchain.

The biggest truth is that people are habitual of pointing fingers even if there is no problem.

I wonder if the author of the article is the same Fyookball shill that were very active on Bitcointalk for a while? So, the crux of this article is this, " ....But there’s a silver lining to all this. Although Bitcoin is dead in BTC, its alive and well in Bitcoin Cash (BCH)." or in simple terms, " I bought loads of Bitcoin trash <BCH> and I want you to sell your BTC for <BCH>, so that the price can go up and this will enable me to dump my <BCH> for a massive profit.

So, the biggest scam are the BCash shills trying to sell BCash (BCH) as a better coin than the real Bitcoin <BTC>    ;)

I think Bitconnect would probably get the biggest scam award. Millions of people have been scammed after their founder got to jail their coins drop price all of the sudden. Many investors lots profit after that event and didn't manage to get back in return.

Don't forget with the cloud mining scam and we know that HashOcean already made a big scam from the people.
I realize that actually, bitcoin is not a scam, but we know that many programs are using the bitcoin name and it scam people, we should realize that, and we need to be careful. Once we are joining in the suspicious programs, then we will get a scam, and it will attract people to get scam too.

he IS the same person, he also owns electron which is a fork of the popular project "electrum". and he has been spreading the same FUD about bitcoin trying to pump the altcoin he has a lot of stakes in so that he can make profit.
not to mention that he has kept anonymous so far so we don't know who his ties are to. so far from what I have seen he is more corrupt than anybody he has been attacking.

trying to prop up bcash?
feels bad bro
 ???

Could be worse, at least he isn't shilling bitcoin SV, gold, diamond, and the rest of the shitcoin forks that have no place in crypto. Always stick to the original bitcoin, accept no imitation!

This point is directed to bash bitcoin and promote BCH. After reading through it I see it’s just a sort of advertisement and to me I don’t really believe in it. Let bitcoin be bitcoin and let others be on their own. There is no point pulling down one for the other.

Why are you into crypto then? Just for warning us?are we all morons to believe in crypto and bitcoin? Anyway, i wish you will be happy with fiat money.

I've red all of it now. And I may agree with some points. But, we have over 100 coins that forked from BTC and all claims is same. "We Are Real Bitcoin", "Real Bitcoin Has Just Returned", "BTC Dead, Hail New BTC" ...etc.

Let's talk then with honest. I assume you are right that BCH is real BTC. Well, what is SV then? And do you think it is the end? I am sure that both Cash and SV will happen new forks. New coins and new claims will arrived soon! %100!

To me, what was to be done was obvious. Leaving the original Bitcoin team was a big mistake. If something was to be done, they would stay together and be persuaded by other community members. This is democracy. We may don't like rules and management our countries but we don't try to create new one, splitted from mainland... We try to create a new order. We can change the government, not country. So we should try to make good things for our country... (I know it may not good example but it suits well)

I'm not talking about other garbage forks. But Bitcoin Cash, Gold and a few powerful forks have damaged Bitcoin mining and image.

I'm very sorry about something because I don't know the technical part of what you're talking about in the article. In my busy work life, I don't have the chance to do any more detailed research. But if I put aside the technical side of the work. I think we would be in a much better state today if Bitcoin and all the fork's mind and miners' power came together.

But there is one thing that never we should forget about it. It has all started with Bitcoin! Even BCH took their name from Bitcoin. They took the idea from Bitcoin. And I guess they won't live without Bitcoin (at least just for now.). Block size, transaction time, traceability, scalability, or any other issue... They are all meaningless. Bitcoin is a brand which known by all world. BCH is an another brand but we should accept that the idea was not original. Original idea made by Satoshi name as Bitcoin! If anyone wants to join and contribute, it still there and standing up...

bitcoin cash is the biggest crypto scam as far as i am concerned!

- it is centralized ✓
- it was created without consensus ✓
- it is abusing the name of a popular cryptocurrency ✓
- it has been damaging that popular cryptocurrency's image ✓
- it has also been damaging it other ways like taking the hashrate and slowing the mining process a couple of times causing backlog ✓
- it has been sold under false pretense as something else ✓
- it goes against bitcoin's vision of decentralization ✓
- .... a lot more

Do you know what scam means ?  Scam means people looses money after they invest onto something shady . how can bch scam people where its only a crypto  . people can buy and invest on it but they didnt loose money . crypto volatility is not a kind of scam . its normal if bch investors loose just because the price falls  .

@op , is cryptopia scam considered to be a big scam ?  Its an exchange  and it holds alot of funds from investors  .

Actually, it is my idea like that. If there is a SCAM in the market, I think it should be BCH.

Bitcoin cash seems like one big scam, I remember buying BCH on the exchange a few weeks after my exchange started to sell them, I made a nice return on them but was quick to sell them back to real bitcoins again.
I hope newcomers will not think they are real bitcoins and start to buy them.

All the fork out of bitcoin is just dividend you can choose to sell if you want to.

no my friend, a scam is when people are misled by lies and deceit.
losing money is only a side-product of that which is not even necessary to make something a scam. for instance i could have made a lot of money from BitConnect but that doesn't change the fact that it was indeed a big scam.

as for the "how" i have already explained it in points #3 and 6 and partly 5

a scam coin with shady people behind it is calling bitcoin scam! this is called "Hypocrisy".

Screw Roger Ver and his paid sockpuppets.

No wonder why BitcoinCash is continuously dropping it’s value,because of this kind of propaganda to break the hearts of bitcoiners but the problem is They always a Failure

Why not instead of spreading propaganda to bring bitcoin fall,is help it out?so all of us will progress and not only Roger Ver and his Gang

Seems to me that the problem with Bitcoin is this. As it is, Bitcoin has a choice. Either it has to maintain small blocks, or it will bloat the entire Internet and communications network by its great blockchain size. Or it will have to figure out a way to scale. Why!

Bitcoin still transacts far less than fiat. Fiat transacts $5 trillion, daily, on the Forex alone. If anyone decentralized fiat in the same way that Bitcoin works, the encrypted decentralization would clog and overload the whole Internet. This is the threat that Bitcoin poses. It's a threat that would destroy Bitcoin and world trade at the same time.

It is true that Roger Ver and Jonald Fyookball are both trying to take a share of the market away from Bitcoin. The only thing that is keeping BCH from clogging the market is its small market share. BCH would destroy itself if it took over all the activity that goes on in Bitcoin, same as Bitcoin would if it increased its block size and its market share to that of fiat.

This is possibly the most important reason why anyone is trying to develop the Lightning Network. If the LN could actually be made to work, it would localize all kinds of BTC transactions, which would keep the main BTC blockchain from clogging the whole communications world... if BTC ever became the main world currency.


Possibly, behind the scenes, Bitcoin is the major reason for the 20,000 communication cubesats that are going to be placed into orbit around the Earth. It might also be the major reason for the development of 5G communications. All of it might have to do with world trade using Bitcoin... a thing that is impractical, now, because of our limited communication capabilities.

Think about it. Free world trade is more important than Bitcoin. Yet the simple-to-understand advantages that Bitcoin has, caused it to grow at a phenomenal rate... a rate that far surpassed any fiat growth, ever. The powers that be are jumping on the Bitcoin bandwagon. I might go even as far as stating that all the political antagonism in the developed world, is a smokescreen designed by BIG MONEY to keep eyes off the fact that communications are being developed basically to propagate Bitcoin secure world trade.

The results of this whole thing will be a one-world government. Roger Ver recognizes this. That's why he is trying so hard to make BCH the major player in the crypto world. I don't blame him for this. But his attempts at covering up what is really going on are extremely feeble.


Two of the major dangers in all of the above are:

1. The simple dangers of all the 5G and cubesat radiation that will gradually turn all life into microwave toast, over time;

2. That AI combined with the quantum computer will break Bitcoin blockchain encryption, and Bitcoin will become centralized. However, if this doesn't happen, there are always ways to manipulate markets, even when the transactions are secure. In fact, secure transactions are something Big Money is looking for; they are being ripped off by their bank employees. Big Money knows all there is to know about manipulating markets. Secure money is something that they want... namely Bitcoin.


I suspect that Satoshi understood all of this, especially after Bitcoin ran for its first year, and that is why he introduced the line of code that can be used to limit block size.

A curious point is, if Satoshi understood all this, was he really on the side of decentralization? Maybe he was introducing Bitcoin because he understood that the current fiat world was moving way too slowly in its operations for making a one-world government. If this is the case, who in the world really is Satoshi?


8)

another Bcash maniac trying to blackmailed the original bitcoin. BTC is not in your level go and find your mate which is BSV.

I also think BCH is not a scam though it created intentionally to challenged bitcoin and to make hype in this market but I don't think its a scam at all, just like banks who are still here despite of calling them a big scam. As long as people are losing money because of someone's greed, its still a scam and we should take action on that or else we will see more situation like this.

In the article author claims that Bitcoin is no longet bitcoin just because it is not as good for payments as Bitcoin cash. I guess soon he will say that Bitcoin Casj is a real bitcoin and BTC as a scam (Just like Roger Ver said).
Just remember that BCH is heavily advertised scamcoin which still does not resolve the problem of block size.

It is classic bitcoin cash tactics as you mentioned above. They always try this kind of marketing for raising bch value. But instead they are making bch less alluring and most people just don't want to touch it.

I don't like this article, it backlashes the bitcoin and praises bitcoincash. I can't tell why BCH is not gaining new users whereas BTC keeps getting daily thousand of users. If BCH was good enough and position enough to replace BTC why is then BitcoinSatoshi (BSV) claiming to be the original? All these are just propaganda. Let BCH hit $4,000 at this market, then I will believe all the conspiracy theorem.

But for me the biggest scam in crypto history is lending ICOs
Started from bitconnect and other lending program and this was made bitcoin so hyped and reach 20k USD each, but ended with scam and bitcoin price starting down till today

The thing is is, BCH claims to be the real Bitcoin which we all know is not true.


BCH is not created to challenge bitcoin but rather to make themselves more wealthy, imagine the huge Bitcoin they are holding and forking it to double its number?  Aside from that, BCH sold for a huge amount at first and goes down when these holders started to dump their BCH holdings to the unsuspecting sheeps.

You're really comparing the FED and Bitconnect to an idea of Bitcoin deviating from what some people consider Satoshi's original idea to be? While using a click bait style manipulative suspense? not fun bro.

<sarcasm>
I guess that the other known scam is that those strange people keep corrupting the kids with lies that the world is not flat.
</sarcasm>

Bitconnect was still the biggest scam that ever happened in the history of cryptocurrency to me because even though there was a bunch of news and analysis that it was a pure scam people still believed that it was legit and worth their investment until it all goes down very very hard.

Since day one Bitcoin Cash is on the run in beating the undisputed king.

In the Crypto space, many con artists are looking for opportunities to scam people, bitconnect, mtGox, onecoin, Regal coin,Hextracoin, and all others have come, swindled and gone. That is why we need to thoroughly examine any ICO before we invest. Personally I don't see bch as a replacement for btc

The article is all about bitcoin cash and a little beet of propaganda against bitcoin, the developer of bitcoin cash nurse the motives of making bitcoin cash more then bitcoin in price and usage but revised is the case today.

I hope that would be the fist step for investors to switch to altcoins. BTC is a great crypto but it is time to move one, because there are so much great and perspective tokens on this market that deserve a much better place on CMC.

Oh my God . Does Roger Ver again start an aggressive campaign named : " BCH is a true Bitcoin"? Usually this is accompanied by strong manipulations and fluctuations in the market and I would not want it to happen again. In 2017, crowds of newbies on the forum created similar topics and said that “btc is not a true bitcoin”, and this led to a huge panic on the market. Now I see that such topics are created by legendary members and I'm afraid that this will not make the market better.  :-\

Let the market decide whether or not BCH is valuable.  Customers have decided that its at least valuable enough to be a top 10 coin so don't dismiss it entirely.  There was a time when Ethereum had a higher marketcap than bitcoin so anything is possible especially when BCH has the funds to advertise while bitcoin does not.

Thank you for wasting our time with article.
Another bitcoin cash propaganda.
I have nothing more to say about this subject.

Well, it’s necessary to propagate bitcoin. To do this, and write this kind of article. I think that this should just be ignored.

Don't wprry it is not going to make much effect on the prices of bitcoin and bitcoincash,eventually newbie may get trapped for it but even they can identify what is the real bitcoin by comparing the prices itself.

just let them think, maybe the OP just wants to do things that can affect market prices by dropping the self-esteem of one of the types of crypto currencies they will trade.

I'm really surprised who controls Bitcoin. I mean the name and the ticker designation. Being an open source project, who decide which of the forked coin is bitcoin and which one is the fork. Is there some way to determine which chain do holder or miners prefer or are just reach wealthy people are deciding about it?

I think that comparing bitcoin and bitcoin cash is just a useless action. I am sure that after a while people will understand that Bitcoin cash it is just a HYIP coin which has no value. Bitcoin is the only one possible tool for payment in the future

Yes of course, I really don't like BCH for once because Roger ver is making use of his influence in the crypto space to create an hype in the coin and not that people are really interested in it.

The only reason people agreed to hold BCH in the first place is because it was generated as a result of the hard fork that occurred in 2017 which give holders of bitcoin the equivalent they hold in bitcoincash thereby giving them an automatic free money that can be cashed out on the exchanges immediately or dumped for bitcoin.

To me, Envion is the biggest scam that I was part of the victim. Envion raised 100 million dollars at the time people are still rushing ICOs and they promise to run a mining company with clean energy but till today, we don't hear anything about the business.

I think, why? Why would you rely on Bitcoin Cash and make it grow if, just as you said in the article, it will make the network decentralization at risk due to big blocks? Then bitcoin will still not be bitcoin if it is not decentralized.

What is the size of Bitcoin blockchain compared to other blockchain? EOS for example is about 2trillion terabyte, I am not sure though. How about Ethereum and the others mentioned in the article?
I see some wisdom in those off chain approach, to be fair to Lightening Network & segwit,
We need a blockchain that is small enough to be on a cheap memory storage and easy to download

I read the topic and don't quite understand the discussion,each about that much about what IR says guys, what Bitcoin fraud??? the fact that speculatii around the world go,it's not bitcoin to blame,and those who uprise a lot of money,manipulators and so on,view thatin the world is happening globally,now is tsifrovizatsii everywhere,even bitcoin already nachili to introduce into the public administration and services public,and private traders also started to implement it

Looks like another really miserable attemp to declaim against Bitcoin by Bitcoin Cash fans. Don't you understand? Your tries to decry Bitcoin is only making you look funny in anyone else eyes. Why you keep doing it then? Think about that please.

Originally Bitcoin had certain parameters. When it started growing by leaps and bounds back in 2010, Satoshi added the line of code that devs could use to control the size of a block. Originally this block size change had been built into the code to change automatically. Why did Satoshi do this? He did it because he saw the problem of a bloated, congested Internet.

The communications of the world can only handle so much traffic. If you increase the traffic beyond what communications can handle, everything starts to break down. We go back to primitive ways in communications if the Internet and the rest of communications break down. This is exactly what would happen to the world if Bitcoin had not been slowed down during 2018, but allowed to clog world communications.

Why would it happen? Bitcoin only works with a tiny slice of global trade. But it operates through a much large part of communications size for size. Bitcoin wouldn't have to become anywhere near the size of fiat for the blockchain to clog communications, if the block size increased much beyond 2M. The 2018 process of maintaining a 1M block, and of increasing the miners' cut, kept the blockchain from increasing in size essentially overnight... where it would take down the communications systems of the world, but especially the USA.

The last month of 2017 (or so) saw a humongous, exponential growth of Bitcoin. Projections showed that the size of the blockchain would have outpaced communications somewhere in 2018, destroyed the fiat balance that everyone was trusting in, ultimately disrupted the world by disrupting the States, and harming loads of people around the world with the banking chaos that would follow. After all, the banks wouldn't be able to use a communications system that was being monopolized by Bitcoin transactions.

This would have been okay if the world were ready for collapse. But most people are living hand to mouth. A collapse of banking would bring widespread chaos, including lots of pain and death.

BCH, BSV, Segwit, and a few other altcoins are able to mine and transfer bigger blocks, just like Bitcoin could originally. And that is where and why Bitcoin isn't Bitcoin any longer, and BCH is nearest the original Bitcoin code. The ONLY thing that is saving the world from the destruction that BCH would bring by overrunning communications, is the small size of BCH. BCH is just a sliver of the size of Bitcoin, even though the majority of its blockchain is part of the original Bitcoin blockchain.

The Ligntning Network was suppose to take a whole lot of burden off the main blockchain by placing the majority of the blockchain onto localized sidechains. But it seems to be a more difficult thing than was expected... integrating the Lightning Network into Bitcoin and the needs of the people.

Communications are increasing with 5G and the 20,000 cubesats that will be sent into orbit. Although these communication methods will flood the world with microwave radiation (which might eventually kill off all life on earth), it is the increased communications from these two items that will make Bitcoin viable on large scale. Then block size can be increased, and Bitcoin can be allowed to grow safely.

At the time of this writing, Bitcoin has increased against the USD in the range of $1,400 over a 2 or 3 week period. Is this simply the nature of things? Or are the devs and miners doing a test on the communications of the few 5G towers and the few cubesats already in place?

8)

Why not post this to the scam accusations thread? I guess it is not appropriate here to spread the word about that particular project. For the mean time, as a precaution, we should be observant and spread good words. We should increase the positive hype rather than provide fear and doubt to people here, especially those new here.

^^^ Originally I posted this in the main Bitcoin section. The moderators moved it here. I would guess that the reason is that Roger Ver was promoting his BCH altcoin.

8)

go home bitcoin cash. go home. no one likes you

Oh come on  >:( same old song about the block size in 2019? Roger's and Craig's fans should find a new things to claim their shit of nothing true BTC

^^^ So you are agreeing that Bitcoin is not really decentralized, but that it is controlled... right?

8)

However, the fact remains that BCH is more like the original Bitcoin than the current BTC is. And what about BSV? The question remains, which is best?

8)

Yup looks like whoever made it just wants to make some noise for BCH,
Just a normal story to raise more publicity on BCH to gain more investor.
Well it is their way to promote it their marketing strategy to gain more investor for the crypto.

Bitcoin is always best as per the volume, circulation, demand and many factors but other coins which you mentioned above are coming behind the bitcoin and people also believe it since it was forked from bitcoins.
Few weeks before I was came across the BCH site and found many free stock images on the projects which has big value in the market. How the quality isn't taken care in this competative marketplace.

For me bitcoin is the original coin and will remain the Bitcoin even if anything happen and most people will say that BCH or any other coin is the real bitcoin i will never trust any other coin to be the real bitcoin.

^^^ The question is, how far will you and others accept Bitcoin as the original? If Bitcoin takes on all the features of fiat, and totally becomes centralized and controlled by an organization like the Federal Reserve Bank, will you still accept it?

The fact that Bitcoin was controlled enough, so that it was forced to screw a bunch of people who purchased some of it at $19,000, shows that it is not the way that it originally was. How much screwing do the controllers have to do before you realize that Bitcoin is being tamed and brought under control, rather than being the free market money that many had hoped for?

I am not a proponent for BCH. Why not? Because it can be controlled the same way that BTC is. Dropping the controls, so that Bitcoin would become much more decentralized, would include dropping the miner fee, and locking the program in place so that this fee could never be added again. After all, when a miner trades the bitcoins he mined, shouldn't the result of his trade be enough?

Let the free market decide the position of Bitcoin in the world... not controls placed on it by a few devs and miners.

8)

Again, I am not a proponent of BitcoinCash. This is only FYI.

As of this writing, in the last couple of weeks:
1. Bitcoin has increased about 42%;
2. BitcoinCash has increased about 64%;
3. Even BSV is jumping;
4. Bitcoin has almost 60,000 unconfirmed transactions - https://www.blockchain.com/btc/unconfirmed-transactions.

Does anyone have any figures on miner fee increases?

8)

I wouldn't make such a big statement because you're not sure. That is, you are one of those people who misinform the community and not having plans to leave it.

I know my own idea about it but I think it is not right time to leave because we are at time when most of the time prices gets down you can buy it but don’t get out of the market at panic, it is good to have faith and be a part of the community where even if the price falls it opens new doors of success to well trained and well planned investors.

This is a long-understood phenomenon. I on the contingency Fund of the United States. The US is the strongest economy in the world and I absolutely do not care whether it is a private organization or not. The most important thing is that the cryptocurrency is introduced into the life of mankind and large banks such as Santander actively use it in everyday life.

Special Message to Craig Wright! - https://www.youtube.com/watch?v=Ygv-2YXrxxA.

8)

I'm a little confused here.. Bitcoin is king and isn't going anywhere.

I feel you are right checking the date of the post
They did get the investors because after a small price spike; then the drama started
And today bchsv is going off exchange platform

I think the new propangada is to dump on all investors