Bitcoin Forum

"Bitcoins are a fake currency that is nothing more than a confidence scheme."

A quote from this article:
http://nypost.com/2014/07/19/dear-john-take-this-bitcoin-of-advice/

Hmmm, that sounds strangely like fiat.



John is just an ignorant loud-mouth paid to spout his opinions to the public as if they were based on research and knowledge.



Dear John. Go fuck yourself.

Ok then John....   except this is 2014, not 2010.  We now have companies like Newegg, Overstock, Expedia, Dell, and so on all accepting bitcoin.

So if all those people are idiots, ummm...   yeah....

Statements like the above make it obvious that the OP really doesn't get bitcoin
Some of us believe that fiat currencies are the ultimate ponzi schemes

there is alot need for more education. just be patient  :)

Oh right, let's forget about the fact that there's no possibility of fraudelent transactions, losses to businesses because of these chargebacks, way lower processing fees and almost instant confirmation.

You forget about crime and hacker stealing wallet..

John admits to his ignorance about Bitcoin. It's been around for over 5 years. Would you go to a doctor that hasn't read any medical journals for over 5 years? He's wilfully ignorant and calls himself a finance writer. Oh yeah, it's a (faux) News Corp publication.

His assessment on confidence scheme is correct. That alone doesn't make it fake currency.

I don't know where you are from, but the American idiom of a "confidence scheme" is the intent to defraud. There is provably no such intent with Bitcoin.

I'd say Bitcoin is about as "fake" as the dollar with fewer of the problems that come with having an inflationary currency and a government spending money it doesn't have. The U.S. government COULD pay off all its debt, but that would mean printing off so much money that the value of the dollar would never really recover. People are really using Bitcoin to buy and sell things and that means Bitcoin is a genuine medium of exchange.

Isn't it about time we stop bothering with idiots who really don't get the whole picture?

The problem is that those "idiots" are often rich and powerful men who are either politicians, or Wall Street types who have a tight relationship with politicians. So we pretty much have to deal with them by either educating them, or finding a way to work around them.

1. Encrypt your wallet.
2. Use 2FA if you're using an online service to hold your coins (which you shouldn't be doing anyway.)
3. Use something like Keyscrambler to avoid your keystrokes being monitered in the case of a keylogger trying to figure out your passphrase.
4. Don't download untrusted files and don't visit dodgy links.
5. Use a decent AV / anti-malware suite on your PC.

Internet Pirate Money ftw!

https://i.imgur.com/hwjsZ8u.jpg

Hahahaha y give me more of that  ;D

Woah woah, don't anyone say my precious coins are worthless! You clearly have never bathed in a tub filled with bitcoin!

Is someone mad that they didn't buy into bitcoin at the right time?  ;)

"Pro" is strictly a marketing term.

LOL New York Post. I wouldn't use that rag to line my cat litter box.

Quality coverage right here, from John Crudele no less, the NYPOST financial journalist that brought you such solid scoop as "Let's make up a conspiracy about faked census unemployment numbers", which he shamelessly references in this very article, in a series of irrelevant answers to earnest questions.
http://mediamatters.org/tags/john-crudele

Sadly, it's nothing new that certain media make up reports just to gain exposure. Bold claims about something just sell better than an unbiased or balanced report about a topic. It's always the way that you only hear those people who scream the loudest. Not the moderate voices that take a look at both sides and offer a reflected opinion...

on a side note told a bunch of people this week about bitcoin...efforts this year that I told last year

a) they are p/o'd that I got in to it mining last year

so

b) they think (all 10 or so of them ) it is a ponzi scheme


(imho it is because I got in it last year and they have heard it is ponzi scheme on the news/inet etc that is where the 'noise' is
that would mean if I was correct ...they would not get as good a deal as they could have ..if they would have accepted this
last year..ie ....it is a ponzi scheme don't think about it...anymore..or they will be annoyed)

I feel like the guy in Florida who had an 'air raid shelter" from the 60's and everyone laughed at him till that 2 week period
of the 'cuban missle crisis'

just gonna avoid the topic if the variety of folks I've told ask...and wait for the 'inevitable' 'why did you not twist my arm
and make me buy bitcoin back in the olden days of 2013/2014?

doomed I am

Searing