Bitcoin Forum

Hey, so I'm in a few Stock markets forums, and in most of them is extremely prohibit to talk about Bitcoins. What is the real deal about the bit coins? Why some people say it's a scam? P

They do say scam because Bitcoin isn't backed by something which don't have a reserve and price can be possibly crash anytime. If you are a long time stocks trader you would really able to say such thing which you would see that bitcoin isn't a good thing to invest on because price move up and down too fast. Which isn't ideal if you are really finding for legality and strong foundation. You cant blame them since we do have our freedom of speech or views on anything.

Bitcoin is speculative, and pretty much goes against investment norms. Saying it's a scam is too strong of a statement, but they likely say that because it's only worth what the next guy is willing to pay for it. Stock market guys are used to anaylsis, forecasts and all that, and that can't be applied to Bitcoin so you can just as easily lose as you can gain. Traditional investors wouldn't want to touch it with a ten foot pole.

In the end, stocks are far more stable and is generally safer with slower returns, while Bitcoin is volatile with a reasonable amount of risk and incredibly fast gains.

Couple of reasons that is very common across the world and in my country what people feel is that Stock market is being governed by a regulatory body and there is an authority to check the things. In bitcoin there is no authority and its not being controlled by any government or regulatory body. This difference risks the investors to invest like they do it in stock market.

It seems to me that much easier. Bitcoin pulls on the free money. If before the money was invested in shares of companies that now they invest in bitcoins. Businesses can not compete with bitcoin's level of profitability so soon they will experience a shortage of working capital. Owners of shares can sell and buy bitcoins.

Bitcoin's value derives from its perceived utility and value. It is not backed by something tangible the way Fiat currency purportedly is. I say purportedly, because in effect, fiat currency also depends on its perceived value, utility and legitmacy as a medium of exchange.

Also, many in traditional finance feel bitcoin and cryptos are a huge bubble and will crash soon, kinda like the dot.com bubble

It's probably because they are used to playing stock market and suddenly a random digital coin pops out and gain so much popularity and isn't even owned by anyone. The disbelief of its existence and its price spike in the recent years is the main reason to your question, especially when they have been trading with stocks and shares for a long time.

And perhaps nowadays the stock market is now less popular too due to Bitcoin, so they may become angsty, something like that. :P

It seems to me that the stock market and the traditional banking system are experiencing similar difficulties because of bitcoin. This lack of free capital. This happens for economic reason, and therefore there is no government regulation can't help them. Crumbling traditional money-making scheme for the oligarchs.

You sure about that? Here's my assumption. Most stock brokers now are moving to bitcoin trading because there's so much money flowing into the bitcoin ecosystem now. There are also articles saying that high profile stock brokers have shifted already. So maybe that's one reason because they don't want stock broker moving out of their system. Or the old believed that bitcoin is bad, Ponzi, scam. As for the scam accusation, people took advantage on how bitcoin has been design. However, we almost do remind newbies to be careful on investing bitcoin. So we can't control them. Its up to you if you want to be scam by someone. What we can do is just remind them and raise the flag.

I come from the stock market, and day trade cryptos full time now. I rarely touch stocks right now. Coins are too lucrative for me to turn away. However, many stock players dislike Bitcoin and surrounding coins because of the volatility. TA and FA can be damn near useless at some points, and the fact that their money is not protected by the SEC laws is also a concern.

First of all , if the stock market forums prohibits the discussion about bitcoin then that to me is a very kiddish outlook to look into some matter .
Obviously , stock market analyticals knows a lot about market and their comments and overviews have some essential knowledge but crowning bitcoin as "scam" is just their biased opinion on it .  They consider bitcoin as scam because bitcoin's volatility is very unpredictable . These days , many among them are naming bitcoin as a  "bubble" because of a consistent growth in its value . There is always a fear of risk when an investment is made on bitcoin , thus making it a bad choice for investment according to stock market analyticals . Again , bitcoin is not issued legally in a major part of world which makes it vulnerable for them.                                               

I think maybe because it goes against everything they know and have been trained in, there is not much stability and a lot of volatility as well, there is no guarantee in crypto.

You want to say that the shares of companies not experiencing the volatility? The price likewise varies. Maybe the amplitude is smaller, but this is detail. It seems to me that statements such traders there is the struggle for the capital market. In this struggle, traders use any of the methods.

It's because it's something completely different than what they are used to until now. It might take some time until they understand what bitcoin and cryptocurrencies are actually about.

Because they didnt invest on it, they are salty.

They call it the biggest scam of all because of high volatility in the market, they even call it a bubble and a suicide because of uncertainty geopolitically. By properly and politely introduce bitcoin we can come together knowing we all share same destiny and goal.

I get that a lot. Not just by rumors but it was broadcasted here in the Philippines that it was a scam. Thinking that bitcoin is not yet known or unfamiliar to most of the population, assuming that it's true. The country is well known for the great influence of social media in which not all are true but sometimes false. Maybe it was set in their minds because pyramiding scams are all over the place just to earn for a living. That is what a Filipino can do to survive. It can come out right or wrong.
Only true bitcoiners can spread the whole truth and what it can bring to the future also for the country.