does anyone remember...

[MyownBoss]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

[yenxz]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

i can't remember that,because at that time i not yet know and hear about bitcoin,the end of 2013 is my time,and velue at that time was $600 if i dont wrong,always happy to remember how expensive bitcoin price on that year.

[Joel_Jantsen]

Why go back to 2013 ? I can present you a few corporate fools who label bitcoins as a ponzi even today.Hey you can't ignore the fact bitcoins are banned officially in a lot of countries assuming its a spam and money laundering business.About the next part not sure what you mean ,I don't recall bitcoin rate - $1200 but I could be wrong.I started using the coins only after late 2014's.

[daniobg]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

I remember that very well, because I joined the community just before the "HYPE" after a friend of mine told me that he bought 100 crypto coins called Litecoin at 3$ - I was like "dafuq is this shit?" After a couple of days of reading and informing myself about what Bitcoin is I started mining some altcoins with my crappy Nvidia which at the time was struggling getting more than ~20 KH One or two weeks later Bitcoin exploded and I was like "damn why I didn't know about this back in 2010 or something". My friend who could made 1000% profit with his Litecoins waited for too long to sell, because he tought that china will bring them to 100$ per coin and eventually the throne will be held by Litecoin... Well everyone knows what happened and my friend sold his coins almost at the bottom at 6$ per LTC, but the important thing is he made a profit I remember asking him "For how long do you know about Bitcoin?" and he told me "Well I heard about it back in 2011" and I wanted to beat the shit out of him for not getting in early and most importantly for not telling me about it... SO YES I REMEMBER  

[n2004al]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

I remember not only that time but even the today's days when there are people who do the same or put in discussion the value of bitcoin as an wonderful invention and as a qualitative currency. As for the bough at that price I think that are not fools that who have bought. In the times to came I believe that it will be normal that bitcoin will be bought even with the double or the triple of that price.

[erikalui]

^^On 29 November 2013, the cost of one bitcoin rose to the all-time peak of US$1,242 (https://en.wikipedia.org/wiki/Bitcoins#Price_and_volatility)


P.S: Bitcoin was called a Ponzi scheme but banks investigated and withdrew this statement. Bitcoins being used for numerous illegal activities and not requiring any kind of verification makes it exposed to such crimes. But I'm glad that the currency is not banned in my country but they are still monitoring its use.

[Joel_Jantsen]

P.S: Bitcoin was called a Ponzi scheme but banks investigated and withdrew this statement. Bitcoins being used for numerous illegal activities and not requiring any kind of verification makes it exposed to such crimes. But I'm glad that the currency is not banned in my country but they are still monitoring its use.

No Erika,the currency is still being called as  taboo in India.If you ever go to the police station and tell them you have been scammed for bitcoins,they will investigate your internet history first and tell you that you're equally at fault for using bitcoins.I mean they won't even consider your case if they find out you are using bitcoins.Since you're a Software Engineer you are used to tech stuff and people like you use it,apart from that most people still call it a scam and ponzi at least in the 3rd world countries.

[romero121]

Why to go long back. Even this year's starting few of the higher authorities and one among the best developer itself made some foolish statements and made most of the users get panic. Now it has reached an enormous growth from those days.

[shinratensei_]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

Yeah, some people say if bitcoin is scam I think, for now, their fucking screamed to know bitcoin is so valuable. It's a gold season for bitcoin when bitcoin price is $ 1200/BTC , I hope that season is come back again.

[--Encrypted--]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

I remember the first two, but not about the last. someone have a link for that? can't find a thing using google.
I'm not sure I get your point though.

[Cloverdale]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

You don't need to look back at the old days to see those people who calls bitcoin as a ponzi. I have seen some threads similar to that claims even as of today and their reasonings and accusations are just too funny to think that they are still degrading the coins which we currently see as a successful one today.

[kpitti]

I remember this time. Yes it was new for me a lot of open questions and doubts. I went in and I am happy about such decision.
But I do not see such big differencies today too.

[Joel_Jantsen]

I remember this time. Yes it was new for me a lot of open questions and doubts. I went in and I am happy about such decision.
But I do not see such big differencies today too.

Are you serious about not seeing the differences ? Right now the price is over $500 which is way too low as it as in 2013.Now $600 more as stated in the original post makes a hell lot of difference.I don't know about your statistics but certainly $500 gap is a big deal from a traders point of view.

[wintermeasures]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

I began to recognize bitcoin in 2015, so thankful was I using bitcoin in time many people believed in this currency. But I think they have the potential scam bitcoin anytime so be careful hehe thank you

[familiaverde]

I started to use bitcoin in 2013 ... cannot forget the time when i got 1100$/btc i have had a good life . Thanks Bitcoin

[Labumi]

Yeah, I remember that. And at the moment the Bitcoin show evidence of all people who do black campaign against bitcoin, Instead turning using bitcoin stunned and they see the growth of the bitcoin. Once again the game system not the bitcoin can be harmful, but using bitcoin system that is very profitable when we perform in a way and a good strategy.!!

[eternalgloom]

Yeah I remember those times, I was lucky enough to buy some Bitcoins for around 200 euro and not too long after that, the price shot up and kept rising.
I bought a new phone and cashed out most of my coins when it hit 1000 dolllars

[Wind_FURY]

When Bitcoin was called a scam, a ponzi-scheme, a joke? Does anyone remember back in 2013: The greater fools that ended up paying $1200/BTC? Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

Several million appeared out of nowhere? When and how did this happen?

[DannyHamilton]

Or the time several million BTC just appeared out of nowhere and the entire system had to be restored?

Several million appeared out of nowhere? When and how did this happen?

https://en.bitcoin.it/wiki/Value_overflow_incident

On August 15 2010, it was discovered that block 74638 contained a transaction that created 184,467,440,737.09551616 bitcoins for three different addresses. Two addresses received 92.2 billion bitcoins each, and whoever solved the block got an extra 0.01 BTC that did not exist prior to the transaction. This was possible because the code used for checking transactions before including them in a block didn't account for the case of outputs so large that they overflowed when summed. A new version of the client was published within five hours of the discovery. The block chain was forked. Although many unpatched nodes continued to build on the "bad" block chain, the "good" block chain overtook it at a block height of 74691. The bad transaction no longer exists for people using the longest chain. Therefore, the bitcoins created by it do not exist either. While the transaction does not exist anymore, the 0.5 BTC that was consumed by it does. It appears to have come from a faucet and has not been used since

[TastyChillySauce00]

even in 2016 i've seen some news in the internet specifically in my mother language which stating bitcoin as a ponzi,they said bitcoin force the bitcoiners to buy mining rig in order to get some bitcoin and it's such a fool statement by fool person,people will judging a thing which is uncommon in their beliefs