Bitcoin - HYIP?

[Angel35]

I think that Bitcoin is HYIP in some sense. Let me explain. Bitcoin was created like first cryptocurrency for secured transactions, but now, all the peoples are buying it just hoping it's value will grow. And here is what happens: early investors buy BTC by low price, then, late investors buy for higher price and afterwards first ones sell it and those who invested their money later lose them. I think the main problem here is that cryptocurrency is not used by it's main feature. Do you have something to say about it?

[tora]

Bitcoin is not a HYIP. A HYIP is a scam from the start. It gives a high dividend to attract investors. Once enough money has been obtained it closes. Bitcoin does not give dividend and one person does not control bitcoin to close the system.

[dillpicklechips]

Bitcoin is not a HYIP. A HYIP is a scam from the start. It gives a high dividend to attract investors. Once enough money has been obtained it closes. Bitcoin does not give dividend and one person does not control bitcoin to close the system.

Right. OP doesn't even know what an HYIP really is. How about fish some information on Google? Educate yourself first OP before throwing this dumb post.
Bitcoin is on its early stage so as time goes by its price will stabilize at some point. Huge swings are happening because of this. Unlike gold and dollar which doesn't have these huge swings because the market of these are very huge. In cryptoworld, it is natural since (as I said) it is on its early stage.

[Angel35]

Bitcoin is not a HYIP. A HYIP is a scam from the start. It gives a high dividend to attract investors. Once enough money has been obtained it closes. Bitcoin does not give dividend and one person does not control bitcoin to close the system.

I don't agree with you HYIP is the thing which is paying dividends to early investors using the money of the late investors.

[Rath_]

Don't you think that Bitcoin is something more than a currency or a long-term investment? Take a look and count how many new jobs were created: miners, cryptocurrency traders and developers, hardware wallets engineers and so on. We can call it a new industry which is slowly growing and will eventually be worth billions of dollars. Bitcoin does not guarantee any profits, it is profitable because of investors and ordinary people who believe that Bitcoin will replace banks.

[swogerino]

Bitcoin is an investment for long term and not a HYIP. HYIP has fixed rate or fixed percentage daily , weekly or monthly while Bitcoin can be bought just like for example shares from Google or Facebook can and you wait with the hope that the price of this "let's call it asset" asset will grow with the passing of time. No one makes you a promise like HYIP-s do. You should learn more to distinguish between a HYIP and a real investment.

[Jet Cash]

Who really knows why Bitcoin was created - it certainly wasn't as a HYIP.

My own view is that it was created by a Government or Deep State agency as an experiment before releasing a global coin to replace fiat  currencies. It has been adopted by a number of very talented people and communities, and the creators must have learnt a lot from its evolution. So where does that leave its direction for the future? They were clever enough to build in limits that prevent it from becoming a world class volume payment service, so it will never be able to threaten the banks' own systems. Now they have to reign it in, and the likes of Goldman Sachs have been manipulation the market, and buying coins for long term holdings. This provides them with a great store of wealth, and it restricts the availability of Bitcoin for more traditional payment options. I think they will continue to do this, and that will lead to a steady and strong growth in the price of Bitcoin.

[HALLASTERA]

I think that Bitcoin is HYIP in some sense. Let me explain. Bitcoin was created like first cryptocurrency for secured transactions, but now, all the peoples are buying it just hoping it's value will grow. And here is what happens: early investors buy BTC by low price, then, late investors buy for higher price and afterwards first ones sell it and those who invested their money later lose them. I think the main problem here is that cryptocurrency is not used by it's main feature. Do you have something to say about it?

Of course bitcoin it's part of same speculation instrument like everything on stock market. It will take a long time to become a real payment system. The world understand that we need new payment system.