"Crypto: The World's Greatest Scam" (youtube)

[so98nn]

Ah, I think I would not watch this video at all considering what’s been bombarded in the OP itself and also the responses later. This is nothing new in the crypto space because haters are there since the beginning of bitcoin and I have also seen how governments and news media are showing negative side of the bitcoin all the time. Like everything I keep reading about the bitcoin is always 50% lies and 50% not so sure articles. In the forum itself everyday so many articles are referred just this YouTube video where they are talking about negative side of bitcoin and it is not doing what is supposed to do. Apparently it seems such videos and articles are big conspiracies to take bitcoin down.

[acroman08]

just finished listening to it, and to be honest, it is a good documentary. though I don't really agree with his opinion on bitcoin, I liked that he tackles the issues cryptocurrency has and the concerns people have with it. I can't really blame people(including him) on how he views cryptocurrency, especially on what happened to NFTs and ICOs.

[Godday]

I have seen the link you have sent.  And I've been watching that channel for a long time ( James Jani ).  I saw the video he has uploaded and I saw an outline there that they say Crypto is a scam because they feel a lot of people have been scammed with crypto.  Many people have been harmed by crypto.  But I dare say that in all things there must be good and bad.  There must be many kinds of deception in this world.  Granted, we have to admit that there are some negatives about cryptos but just like all other technologies, there are positives about cryptos as well.  And even I have thought crypto has done a lot of positive things to the world.

[davis196]

I don't want to waste my time watching this 1 hour video. Here's one of the comments below the video.

If making money is the goal from the 'product', then the product is likely a scam.

Wrong! The goal of Bitcoin isn't "making money". The goal is to be your own bank and to preserve the value of your wealth.
Unfortunately the vast majority of the Bitcoiners and almost all crypto noobs think that the goal of Bitcoin/crypto is to make money fast.
This misconception has to be solved, but on the other hand, greed is the main factor, which leads the people into buying BTC/crypto and pumping the price.
Anyway, haters gonna hate...

[NotATether]

I don't want to waste my time watching this 1 hour video. Here's one of the comments below the video.

If making money is the goal from the 'product', then the product is likely a scam.

Wrong! The goal of Bitcoin isn't "making money". The goal is to be your own bank and to preserve the value of your wealth.
Unfortunately the vast majority of the Bitcoiners and almost all crypto noobs think that the goal of Bitcoin/crypto is to make money fast.
This misconception has to be solved, but on the other hand, greed is the main factor, which leads the people into buying BTC/crypto and pumping the price.
Anyway, haters gonna hate...

It can be solved by constraining the bitcoin price to a fixed range like traditional currencies. Fortunately, this is easy to accomplish by constraining the global hashpower. Governments can create bills that restrict the number of megawatts a mining operation can use at once, which will impose a maximum on the price, while some other governments can give free electricity subsidiaries to miners, up to a certain amount of megawatts, after which they'd have to pay for the electricity at standard rates - thereby imposing a minimum price.

So that means, Bitcoin will oscillate between these two prices, and if they are close enough, not only will "get rich quick" be evaporated in bitcoin, there will be no more volatility as well.

I'll probably elaborate these ideas in another thread.

[Little Mouse]

Comments are hilarious too as i expected: Crypto it's bad because "you can't buy car with it" because "It needs to be converted into the US dollar first.".
Funny. I guess gold and stocks are bad and a scam too since you need to convert them to fiat money until you can buy something with them.

Funny part is that all the crypto haters use this argument to criticize cryptocurency. I was fighting with few nonsense in quora Bengali (Osman Ghoni is one of them), and they always put this argument that why people need to convert cryptocurency into fiat when they think cryptocurency is better. I have to agree with some points but there are believers here who still haven't converted their bitcoin into fiat regardless of wherever the price went up.

[FahriZah]

First Of All Who Know About Crypto Currency As Well I Think They Never Can,t Say Crypto Is Worlds Greatest Scam Like This I Think Whom Youtuber Said About This Topic Like Bitcoin World's Greatest Scam Her Need New Subscribers And New Viewers That's Why He Make The Videos And He Have No Good Ideas About Crypto Currency.

[hatshepsut93]

Because we, as a community, are building it - maybe not all of us are developers, maybe we don't contribute to Bitcoin Core, maybe we don't write a BIP, maybe we don't work on Layer 2 scaling technologies, maybe some of us are not even running a validation node, but we are all doing one thing in common: We drive adoption in our own sphere of influences. The drive of which people have been doing since the early days of Bitcoin.

How many people would still be doing that if Bitcoin crashed to $10 today? I'm sure most of Core contributors would stay. Some members of this forum with many thousands of merit too. But the rest? I highly doubt that.

Most people are into Bitcoin for profits. If the long-term prospects of Bitcoin price will become bleak, the only use-case that will be left is "decentralized money that can't be frozen", and how many people are interested in that? Considering the fact that overwhelming majority of population never had their bank account frozen.