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Author Topic: Bitcoin Has Never Been A Scam.  (Read 847 times)
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June 08, 2024, 04:03:05 AM
 #101

A Bitcoin is a reliable since we can make an transaction without spending much of time and also way of saving some of the assets for a long periods time which if a person a patient it can have some of the gain on saving. Because is not like the bank that if we save of inside bank will been deducted some bank maintenance and so ever, the Bitcoin is not like that is very save in terms of transactions and trading.

The deduction of money when transferring a currency happens in every currency because when you send Bitcoin you will also be deducted some BTC but it is not for maintenance but for mining fees that goes to the miners that approved your transaction. The fees are low most of the time but sometimes it gets too high. Right now the fees are high due to congestion of the Blockchain but Bitcoin does not have any intention to scam anybody. Bitcoin is on a mission to gain global adoption, Bitcoin is very reliable because of the use of the Blockchain, Bitcoin is not controlled therefore its transaction can not be reversed after it has been sent. Any one calling Bitcoin a scam must have something against Bitcoin because if they use Bitcoin, they will realize that Bitcoin is more reliable than other currency.

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June 08, 2024, 04:30:41 AM
 #102

Quote from: amihada
here we have to distinguish which one is a fraud, if someone uses bitcoin incorrectly as a tool to deceive others, it doesn't mean that bitcoin is a fraud, but the user is the one who uses bitcoin incorrectly, even people like that, all items that are sold can be used as a tool to cheat, so don't carelessly making assumptions.

There are some people that used fiat money to fraud people in the community and they can also use Bitcoin to fraud people which is very common among people in the community, but you cannot call fiat money a fraud or call Bitcoin a fraud than to call the person that use it such evil way a fraudster. I will not deny that people don't use Bitcoin to scam people, but it will be difficult for scammers to scam someone that understand Bitcoin very well, because the moment the scammers are approaching by chatting or sending some fake messages to the person, he will definitely know that they are scammers and he  will let them know that they are scammers. That is why is advisable to have the knowledge of Bitcoin before investing in Bitcoin, because you will know the right time to invest without asking strangers question, because that is where some beginners use to fall victim to scammers.

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June 08, 2024, 08:40:30 AM
 #103

Those who know the use of bitcoin and its benefits can never call bitcoin a scam. Cryptocurrency scams are somewhat unique due to the emerging nature of the industry. Blockchain technology is so new and complex that many people think it's a scam when they don't understand it well enough to protect themselves from scammers blockchain transactions are considered anonymous which makes crypto more attractive to those with criminal intent.

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June 08, 2024, 10:17:31 AM
 #104


The transparency of Bitcoin transactions, due to the blockchain, ensures that all movements of the currency are unique and verifiable, reducing the risk of fraud in systems. Regulatory bodies and financial institutions are increasingly encouraging and merging Bitcoin into their systems, indicating how reliable  and potential for legitimate use in the business .

Bitcoin is reliable for easy transaction, it is a system way of saving, it is transparent in trading.
Due to its unique financial stability companies are happy to use it in the legitimate ecosystem due to its legal rights in the country.
Bitcoin is a very secure currency. It can be trusted more than FIAT money because if the value of FIAT money decreases due to inflection, that value cannot be recovered, but in the case of Bitcoin, its price falls, but if you hold patiently, it recovers again. If you want to invest your savings in fiat money then after 10 years its value will fall by around 90-100% due to inflection and from bank you can get 60-80% through FD still you will be in loss in terms of value. However, if you hold Bitcoin for 10 years, you will get several times the profit from here. Besides, since if you sell Bitcoin, the money will be in dollars, so the rate of inflection will be much lower.  So I think investing in Bitcoin is profitable in every way











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June 08, 2024, 10:18:12 AM
 #105


The transparency of Bitcoin transactions, due to the blockchain, ensures that all movements of the currency are unique and verifiable, reducing the risk of fraud in systems. Regulatory bodies and financial institutions are increasingly encouraging and merging Bitcoin into their systems, indicating how reliable  and potential for legitimate use in the business .
First thing Bitcoin will never scam people but it is the one who holds or use bitcoin that can be scammer , because saying bitcoin is scam is like saying that PHYSICAL MONEY IS SCAM in which never that it happened or proven over the thousand years,

and like what you said Institutions and businesses are enteting bitcoin now so this shows how reliable and trustworthy this is.

Quote
Bitcoin is reliable for easy transaction, it is a system way of saving, it is transparent in trading.
Due to its unique financial stability companies are happy to use it in the legitimate ecosystem due to its legal rights in the country.
actually bitcoin is not reliable for easy transactions now because of the so much high in transaction fees many times happened just this year alone.

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June 08, 2024, 01:42:18 PM
 #106

Well if you ask anyone who says bitcoin is a scam, how bitcoin works, they have absolutely no response because they have absolutely no clue how it actually works.  I remember when people use to say this to me all the time back in the 2015/16/17 days.  My first question to them would always be "Okay, do you know what the blockchain is, or can you explain how it works"..never once was any single one of these persons able to do so.  So, there's really just a lot of noise out there.
I talk someone and asked him if he knew about bitcoin but surprisingly, he boldly said it was a scam thing. He told me that one of his friends got scammed from investing in bitcoin online by a stranger from social media offering huge ROI.
I understand his stance because of his friend's experience and some people are saying the same. Some people who said that bitcoin is a scam are those people who literally don't have an idea how it works, those people/investors who slip into trusting strangers easily without validating their offer is true or a scam. A scam never happens if we do our part which is to research before investing something. Unfortunately, most of us did this after becoming a victim.

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June 14, 2024, 12:24:31 AM
 #107

Bitcoin is something you need to always trust and believe because of it transparency and how safe it is you will never hear a complaint that people lost their coin from bitcoin wallet or bitcoin has still their money that is not so unless you have been scammed or you make a mistake in wallet, that is the only reason where you notice that some errors has occur in your wallet and it's me look like it's a mistake from the bitcoin network that is nice it's just a mistake for an individual screen transparency is so successful, so many countries are accepting bitcoin as the media of exchange, I so much trust bitcoin because of it's understanding and trustworthy you can keep in money in your wallet it will remain them to only depreciate if the market falls but your money without anybody knowing what is going on in your life not even the government or the bank.



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June 14, 2024, 12:46:12 AM
Merited by philipma1957 (1)
 #108

When you’re dealing with people who aren’t used to traditional investing, you never know what they’ll do. In this community, the definition of a scam to some is whether or not something outperforms Bitcoin, thus everything is labeled a scam to them. I think even the most popular investment in the world (S&P500) would be considered a scam if someone here offered it.

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