Wake up before it is too late

[Tszunami98]

The technology is just at the beggining, there are some issues of course, but those issues will be resolved in the future. I agree that bitcoin is not the best option for commerce right now, but is a great asset for investment. If you want to move money around and have low fees , there are always other currencys you can look up into.

[freightjoe]

for a very long time which is nearly 9 years now, bitcoin had no issues, empty mempool and low fees even as low as 0 satoshis. and you were nowhere to be seen.

Why should I bother when no-one apart from a group of people were playing around in a sandbox. I couldn't care less.

But when I now see that a lot of people with absolutely no financial knowledge stand to be cheated out of their lifesavings because immoral people are convincing them to jump onboard, then I do care.

Perhaps a good illustration is from one of the other discussion threads in here where people were talking about what the main advantages of Bitcoin was. In here there was the following:

"bitcoin is one of the biggest potential to make us become rich in quick time"

Bitcoin is indeed a get-rich-quick-scheme.

If you are involved, look yourself in the mirror and ask yourself: Am I the one being cheated, or am I the immoral bastard who is cheating someone else out of his life savings ?

[SMB-2525]

And just in time for this discussion, here is an article on the real pump-and-dump schemes in the crypto universe.
Note, BTC is not implicated, it is too big.

https://cointelegraph.com/news/buyer-beware-cryptocurrency-pump-and-dump-schemes-coordinated-in-telegram

[freightjoe]

Note, BTC is not implicated, it is too big.

ahhh..... so big in itself means it cannot be manipulated? Guess we should let Bernie Madoff out of jail then.....

Have you considered my previous question about looking in the mirror and figuring out which one of the two you are?

[BingoDog]

Wow how this forum is an unbelievable echo-chamber fueling one big ponzi scheme. Bitcoin as a currency, give me a break. A currency where it takes days to clear payments unless you pay massive fees - fees that are hostage to whatever vagaries the miners have? And if you don't, you are left in limbo where you have no idea whether it takes minutes, hours or days to move your money? A currency which is heavily impacted by "civil wars" with rival crypto currencies? A "currency" even less stable than the former Zimbabwean dollar. Don't get me wrong - the other crypto "currencies" equally well fit the ponzi scheme.

It is abundantly clear from reading in here for quite a while that the vast majority of people speculating in here are simply pinning all their hopes and dreams on the notion that these tulip bulbs - sorry tokens - can only rise in value. Sorry to say, but some people are going to get hurt badly eventually....

Your post is just the proof that bitcoin is obviously not for everyone, at least not for the people who don't know anything about bitcoin and its history, or any cryptocurrecy, how it's functioning and expect nothing but profit all the time. Huge price increase has brougth to bitcoin many good things but also too many ignorants who only wanted to get a lot of money over night and when they didn't manage it, they are very disapointed. For the things that you don't understand the easist thing to say is they are no good. 

[SMB-2525]

Note, BTC is not implicated, it is too big.

ahhh..... so big in itself means it cannot be manipulated? Guess we should let Bernie Madoff out of jail then.....

Have you considered my previous question about looking in the mirror and figuring out which one of the two you are?

Have you even considered the implications of regulatory approval to create a bitcoin futures market on the CME?
And then the approval to create BTC exchange traded funds (ETFs)?
These are not events that occur for ponzi schemes.
Your point that BTC is not a currency is correct. But people here have limited understanding of the difference between a  currency and a commodity. They might think gold is a currency.

People here are like people who hold any other asset class be it real estate, gold, or stocks. There is no more reason for the price of BTC to collapse than there is for the price of gold to collapse.

[Zorbak]

Does really someone really take serious this post? Not see it's just a trolling without sense and arguments are poor?...

[freightjoe]

Have you even considered the implications of regulatory approval to create a bitcoin futures market on the CME?
And then the approval to create BTC exchange traded funds (ETFs)?
These are not events that occur for ponzi schemes.

Of course they are   . Read up on Bernie Madoff who is now in jail for the biggest ponzi scheme of all time in the US:
https://en.wikipedia.org/wiki/Bernard_Madoff

He was a top market-maker on Wall street not to mention non-executive chairman of the NASDAQ

hence your arguments prove absolutely nothing

[SMB-2525]

Have you considered my previous question about looking in the mirror and figuring out which one of the two you are?

I am neither. Nor is anyone on this board.
In order to define BTC as a cheaters game, you have to conclude that virtually every investment opportunity is "cheating".
People who buy bitcoin are only cheated in the same way that people buy stocks or real estate or commodities as investment.
The price either goes up or it goes down.

[freightjoe]

Does really someone really take serious this post? Not see it's just a trolling without sense and arguments are poor?...

Thank you for proving my initial point - this forum is an echo-chamber of the believers only talking to each other, and are too thin-skinned to accept a dissenting opinion

[SMB-2525]

Have you even considered the implications of regulatory approval to create a bitcoin futures market on the CME?
And then the approval to create BTC exchange traded funds (ETFs)?
These are not events that occur for ponzi schemes.

Of course they are   . Read up on Bernie Madoff who is now in jail for the biggest ponzi scheme of all time in the US:
https://en.wikipedia.org/wiki/Bernard_Madoff

He was a top market-maker on Wall street not to mention non-executive chairman of the NASDAQ
hence your arguments prove absolutely nothing

Madoff was a classic ponzi. He operated outside of the scrutiny of regulatory oversight.
Exactly the opposite of the CME and any BTC ETF.

Where are the CME sponsored ponzi schemes?

[freightjoe]

Have you considered my previous question about looking in the mirror and figuring out which one of the two you are?

I am neither. Nor is anyone on this board.
In order to define BTC as a cheaters game, you have to conclude that virtually every investment opportunity is "cheating".
People who buy bitcoin are only cheated in the same way that people buy stocks or real estate or commodities as investment.
The price either goes up or it goes down.

then it seems to be choice #1

[freightjoe]

Have you even considered the implications of regulatory approval to create a bitcoin futures market on the CME?
And then the approval to create BTC exchange traded funds (ETFs)?
These are not events that occur for ponzi schemes.

Of course they are   . Read up on Bernie Madoff who is now in jail for the biggest ponzi scheme of all time in the US:
https://en.wikipedia.org/wiki/Bernard_Madoff

He was a top market-maker on Wall street not to mention non-executive chairman of the NASDAQ
hence your arguments prove absolutely nothing

Madoff was a classic ponzi. He operated outside of the scrutiny of regulatory oversight.
Exactly the opposite of the CME and any BTC ETF.

Where are the CME sponsored ponzi schemes?

The whole financial collapse in 2007-08 is a pretty good example. At least there governments stepped in to salvage some of the damage done. For the cryptoworld there will be no such action. Even now many are finding it extremely hard to transfer Bitcoin - it takes hours or days. When the roof caves in, there will be no financial salvation of anyone trapped within and there will be no chance of selling out before all is lost

[BitcoinHodler]

"bitcoin is one of the biggest potential to make us become rich in quick time"

Bitcoin is indeed a get-rich-quick-scheme.

there are always idiots who use things in a different/wrong way than they should be using them, that doesn't make those things wrong. it makes their usage wrong.

i saw someone kill with a kitchen knife, does that mean you are a murderer because you have kitchen knives at home?

[East7547]

Everyone is entitled to their own opinion but I’m not sure how you can call Bitcoin a Ponzi scheme!

[freightjoe]

"bitcoin is one of the biggest potential to make us become rich in quick time"

Bitcoin is indeed a get-rich-quick-scheme.

there are always idiots who use things in a different/wrong way than they should be using them, that doesn't make those things wrong. it makes their usage wrong.

i saw someone kill with a kitchen knife, does that mean you are a murderer because you have kitchen knives at home?

Wow - you defend Bitcoin the same way some Americans defend why they need to have guns, with the result being an extreme amount of mass-shootings. I have no idea why you wanted to put Bitcoin in the same context as mass shootings, but to each his own I guess.....

[freightjoe]

Everyone is entitled to their own opinion but I’m not sure how you can call Bitcoin a Ponzi scheme!

"Ponzi schemes rely on a constant flow of new investments to continue to provide returns to older investors. When this flow runs out, the scheme falls apart"
In this case the returns are in the form of a higher price on Bitcoin

( https://en.wikipedia.org/wiki/Ponzi_scheme )

[UsernameBitcoin]

That is correct people need to wake up otherwise they are going to miss out on something great and they will hold this regret forever that will be extremely hard to shake because they can not help but think where they went wrong and why they did not listen to what the smart, yet few, people were saying about BTC. This is a revolution in money and you better start to learn why.

[batang_bitcoin]

Insane Fees , weeks to receive a transactions.

Core version of Bitcoin is Broken!

Only idiots can't realize that.

and their are a lot of damn idiots in these forums.

And why you are here in forum? If you are complaining about the high fees of transactions then you better go to alt coins. That's why alt coins are created to have alternative way of sending money to others. And that's the way that can answer your problem. And before you say that there are a lot of good people here in forum, try to distinguish first what is their and there.

[junoreactor]

freightjoe has a point, many blind believers in these forums. That being said, if Bitcoin was a ponzi scheme, it would be over by now IMO.
Currency, no. Here I agree with you.
Bitcoin will be a great asset though for people wishing to remain anonymous (I don't mean for crimes) for example to place bets on sports, or play poker.
I worked before in the betting industry, and I can tell, more and more people will be using Bitcoin, local governments want to control everything, Bitcoin will be useful to keep this "freedom".

But I have to agree big time about the transaction fees and slow confirmations. IMO it won't become a real currency, but if it has a future, will be usable for big purchase such as houses, cars, maybe flight tickets one day.