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.
Why is there this idea with you that people have been mislead and sold something by someone in particular ?
Because they were?
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.
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.
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?
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.
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