Who's the sales person?
The people who say that bitcoin will be worth at least 5'000 USD by next year. Those who claim it will preotect your money from inflation, bank haircuts, taxes, etc. Those who still claims that the price can only increase since there is only a fixed number of bitcoins. Do I need to point out examples? (Not long ago the WSJ reported on some Argentinian woman who said 1'000'000 USD/BTC.
People say all sorts of things are going to rise in value quick buy now. Gold, property etc etc. Does that make the people who put their money into that without doing their due research any less of a fool?
Bitcoin can do all of those things.
IF demand for Bitcoin increases and their is a fixed supply they will become more valuable you can say the same for gold...
Great lets tar everyone with the same brush because of what some women in Argentina said. How ignorant that you want to stereotype all bitcoiners because there are those that are trying to make their stash worth more... How educated and objective a view.
Why is there this idea with you that people have been mislead and sold something by someone in particular ?
Because they were?
Thats not the question I asked you. Show me some proof of someone being misold bitcoin on the pretence that it is guranteed to go up in value thats not something a randomer on the internet said.
Note: and even someone saying BTC could be worth $100k in the future isn't miselling them as how do you know it won't?
In the fiat world scams are bought into all the time do we really need to start metioned Maddof et al? Thats what you call being robbed of your life savings not investing in a brand new BETA technology and then moaning that its lost value because you listened to some guy on the internet instead of making your own decision. These fiat financial scams and frauds genuinely rob people of their lifes work and do genuinely sing promises of high returns.
Madoff went to jail and his name is rightly mentioned all the time when discussing scams. Why shouldn't the bitcoin Madoffs go to jail too?
Misleading marketing is misleading marketing, it does not matter whether it was on a blog, through an YouTube video, or printed on glossy paper.
Um they should, again thats not an issue with Bitcoin itself.
This is the crux really isn't it. Wheres the misleading part? If you were around in May last year you would have been saying ha all the people who bought at $266 were mislead and misold should go to jail etc and then look 6 months later you would be eating your hat.
Plus if you allow yourself to beleive that BTC is going straight to $1mm GURANTEEED (which is the only time misselling matters, just saying they COULD isn't miselling) your a fool.
The thing that annoys me most with your conjecture is that you speak as though everyone whos in BTC right now bought $1200 coins. Thats just not the case the majority of people are well above their initial investment and the rest of them are likely down no where near 60%.
The early bitcoin investors who later sold some of their holdings made huge profits at the expense of the later entrants. That is what happens in any pyramid or Ponzi too, including Madoffs. It does not make the thing a sound investment: since bitcoins pay no dividends, the expected gain for the average investor, in the long run, is negative.
Same for gold then?
You have to distinguish between investment to have a share of BTC and an investment to later sell for fiat profits. In the former the $ value doesn't matter.
Believe it or not, in the specualtion forum the majority are trying to do the later but only to have more of the former. If you were to spend time speaking to people in other areas you may find that not the case.
A fool and his money are soon parted and if somebody invests in a volatile asset that they can see with their own eyes has been so volatile and then moan that it goes down instead of up they are a fool.
If someone borrows $50,000 off friends and family to invest in a ridculously volatile asset then they are a fool.
If someone left their Bitcoins with a third party service then they are a fool.
If someone invests more than they are willing to lose they are a fool.
Dont you see where this is going ?
Er... anyone who invests in bitcoin is a fool?
Guess again. Anyone who invests in anything while doing those things is a fool.
I take it you advocate boiler room pump and dumps then that leave people with low single digit %'s of what they were conned into investing for promises of high returns.
Quite the opposite, I just wish that the bitcoin boiler room be treated like any other boiler room.
Thats great, I implor you to effect change and be active in the acheivment of this goal. But go after the services and campaign for better regulation and punishments if thats what you see the problem as being.
I dont see you denouncing fiat currency everytime there is an unsolved scam within world.
Your issues are with the scammers surrounding bitcoin tackle them then. The fact is you only perceive there to be a high % of scams because this is a small community and this forum is an oppurtunity to air everything that happens within the
BTC world therefore you always hear about the scams if you come here and read the board.
If there was a fiat forum with a small community of fiat users you would find the same.
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