[2017-12-14]Bitcoin is a ''speculative mania'' and attractive to criminals

[SlipMart]

                                               
Bitcoin can be seen as both a digital currency for transacting, and a commodity akin to digital gold. Many investors have been buying bitcoin in the hope of quick profits as its price sky-rockets, and to gain exposure to 'initial coin offerings' and other cryto-assets linked to it. Bitcoin futures contracts launched this week in the US.

In a rare speech on banking technology on Wednesday According to afr.com, Dr Lowe the reserve Bank governor said bitcoin was a "speculative mania" that was unlikely to become...

Read More: https://bitzamp.com/bitcoin-is-a-speculative-mania/

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[Kemarit]

Its this another attack on Bitcoin? LOL. Not again. I would have to agree with the speculative mania, but this is not stopping bitcoin from investing or getting into the ecosystem. On the contrary, this is the main driven factor why people in the first place are buying bitcoin. And to those who are thought that bitcoin are a get rich scheme, its not and they already learn that the hard way. How many times do you heard the "weak hands are shaken", those people are the first one to panic and sell during a crash, some didn't come back because it didn't work the "get rich scheme", while others learn a valuable lesson and stay in the market. And attractive to criminals? FIAT has attracted criminals more than ever. So please, stop the argument that bitcoin is being used by criminals only.

[Taki]

Its this another attack on Bitcoin? LOL. Not again. I would have to agree with the speculative mania, but this is not stopping bitcoin from investing or getting into the ecosystem. On the contrary, this is the main driven factor why people in the first place are buying bitcoin. And to those who are thought that bitcoin are a get rich scheme, its not and they already learn that the hard way. How many times do you heard the "weak hands are shaken", those people are the first one to panic and sell during a crash, some didn't come back because it didn't work the "get rich scheme", while others learn a valuable lesson and stay in the market. And attractive to criminals? FIAT has attracted criminals more than ever. So please, stop the argument that bitcoin is being used by criminals only.

Speculative mania is the right word for what is going on now. Even people who bought bitcoin per 6000$ got three times profit in a very short time and that is just amazing!
Attractiveness to criminals sounds really ridiculous in the case of bitcoin, well, maybe few years ago it had place to be, cause of people were not enough educated about crypto currencies and thought that bitcoin transactions can not be followed. Now like everybody know that and the one criminal case that I hear about bitcoin is founds stealing from wallets, but to me it is most people's fault with using public wi-fi or following different doubtful links. 

[Guardian.P]

It's very stupid to blame bitcoin. If there are criminals, it means that we need to look for the cause of their appearance and eliminate it. The attackers use public transport, ordinary money, and many other services. This does not mean that they should be banned

[1Referee]

Bitcoin thrives on speculation, that's true. Bitcoin attracts criminals, that's true. But hey, that goes up for any asset in the world. Fiat currencies are the root of all evil if we start looking at them in how they serve as tool for criminals. The same basically goes up for Gold and other assets, but these don't get the honor of being mentioned - it's always Bitcoin being the bad boy. Should we also mention that in the last years the number of circulating counterfeit money has reached record highs, and is only growing further? Should we also look at how wars and terrorism get financed with the US Dollar? Or should we for once just quit blaming the assets that are subject to malicious abuse? I go for the latter.

[steadyrice]

These criticisms (if you could call them that) have become very predictable and boring nowadays. It's either a "mania", a "bubble", a "craze", with a lot of references being made to the "tulip mania", not forgetting to mention that bitcoin "has no real value". It's nothing new, really.

[senin]

Representatives of various banks will always criticize bitkoyn and generally crypto currency, since the crypto currency destroys their scheme of profit and is incomprehensible to them. Their favorite theme in this case is to show the possible connection of the crypto currency with crime. However, criminals have always used advanced technology to commit a crime. The law enforcement agencies should solve this problem and develop countermeasures and this problem should concern them.