Stingray1970
Member
 Offline
Activity: 126
Merit: 10
|
 |
January 31, 2018, 09:30:50 PM |
|
Actually, money is not being created out of thin air. The money has to come from someone's pockets and usually comes from a lot of speculators who have just discovered this business and are willing to take great risks in order to get easy profits. And a lot of them, in fact, end up losing it to fill the pockets of the smartest.
That's GIANT PONZI SCHEME or FRAUD SCHEME Isn't that the case with fiat as well ? If not, why ? |
|
|
|
|
|
|
|
|
|
|
|
|
|
No Gods or Kings. Only Bitcoin
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
iwishicouldfly
Newbie
Offline
Activity: 51
Merit: 0
|
|
January 31, 2018, 09:52:13 PM |
|
Actually, money is not being created out of thin air. The money has to come from someone's pockets and usually comes from a lot of speculators who have just discovered this business and are willing to take great risks in order to get easy profits. And a lot of them, in fact, end up losing it to fill the pockets of the smartest.
That's GIANT PONZI SCHEME or FRAUD SCHEME Isn't that the case with fiat as well ? If not, why ? Not saying bitcoin is a ponzi scheme but it has all the characteristics. FIAT is backed by governments, crypto is unregulated. it is extremely hard for it to lose 50% of it's value in days. Bitcoin could be $1000 in months for all we know, unlikely but definitely possible. Don't know anyone hyping up the USD saying "put all your cash into the dollar! MASSIVE GAINS!". That to me screams, ponzi. FIAT is a terrible store of wealth too though due to inflation but there's much better investments to be had than crypto. |
|
|
|
|
imapessimist
Jr. Member
Offline
Activity: 266
Merit: 1
|
|
January 31, 2018, 09:55:48 PM |
|
A friend of mine said it is a Ponzi scheme. I am beginning to think so too with all this talk that people must put lots of money in and never take there money out even when the price goes down. So what happens to that money. Somebody else will take it out.
|
|
|
|
|
First77 (OP)
Member
Offline
Activity: 266
Merit: 32
|
|
February 01, 2018, 02:11:23 PM |
|
A friend of mine said it is a Ponzi scheme. I am beginning to think so too with all this talk that people must put lots of money in and never take there money out even when the price goes down. So what happens to that money. Somebody else will take it out.
How did Bitcoin get $350,000,000,000 ?? |
|
|
|
|
petrov trevor
Newbie
Offline
Activity: 64
Merit: 0
|
|
February 01, 2018, 02:13:39 PM |
|
Bitcoin does not create money, only central banks create it
|
|
|
|
|
|
BlackRacerX
|
|
February 01, 2018, 02:18:04 PM |
|
LOL. Obviously, whoever that guy is, doesn't know a thing or two about bitcoins. Bitcoins technically has value and therefore can be trade to money. Someone or something has to benefit from these bitcoins and I don't think you can't get money out of thin air. Buying software is almost the same as buying and selling bitcoins.
|
|
|
|
|
legenduim
|
|
February 01, 2018, 05:30:04 PM |
|
Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.  those who call bitcoin are scams because they do not understand with bitcoin. at this time already many people who believe with bitcoin because they have earned money from bitcoin. people who are new to bitcoin and have not earned money from bitcoin then they have a sense of doubt with bitcoin so they say bitcoin is a scam. Certainly, they do not understand Bitcoin. By the way, why do not they call fiat money scam? Today many countries have too much paper money, and in reality it does not cost anything. Many people take credits to buy almost everything. Isn’t it the greatest scam? |
|
|
|
|
pvk444
Member
Offline
Activity: 252
Merit: 47
|
|
February 01, 2018, 06:02:37 PM |
|
Bitcoin does not create money, only central banks create it
Not quite. Money is everything that people accept as payment. Bitcoin IS money. It does not "create" it. |
|
|
|
|
lesya-ya
Member
Offline
Activity: 99
Merit: 10
|
|
February 01, 2018, 06:13:14 PM |
|
Bitcoin eventually gained popularity, people began to pay real money to buy bitcoy so they could conduct business with these sellers on the Internet. Bitcoin creates money from the air or not, it solves each individually.  |
|
|
|
|
First77 (OP)
Member
Offline
Activity: 266
Merit: 32
|
|
February 01, 2018, 06:23:12 PM |
|
LOL. Obviously, whoever that guy is, doesn't know a thing or two about bitcoins. Bitcoins technically has value and therefore can be trade to money. Someone or something has to benefit from these bitcoins and I don't think you can't get money out of thin air. Buying software is almost the same as buying and selling bitcoins.
The Indian Finance Ministry on Thursday made bitcoin illegal and announced an upcoming ban. “The government does not consider cryptocurrencies as legal tender or coin and (will) take all measures to eliminate the use of crypto assets,” Finance Minister Arun Jaitley said. https://www.rt.com/business |
|
|
|
|
weblouartisan
Full Member
Offline
Activity: 448
Merit: 100
Lets Go Adab
|
|
February 01, 2018, 06:28:02 PM |
|
Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all. Bitcoin is creating money out of thing air because of the demand in the market and that makes the value of bitcoins grow even better. It is not a scam because people are working to earn it even those who are running a mining rig is paying for their electricity consumption in order to earn cryptocurrency. |
|
|
|
RomanPetrush
Full Member
Offline
Activity: 630
Merit: 123
Join @Bountycloud for the best bounties!
|
|
February 01, 2018, 06:32:08 PM |
|
Don't agree with that statement. Bitcoin has some features which will affect on our lifestyle. For example, you just could have encrypted money and you don't need to save them in the bank. You don't need a safe, all you need is to remember your passwords. It's difficult to remember but that's possible. Easy to save your pass keys in encrypted file and ect.
|
|
|
|
isomoyes
Newbie
Offline
Activity: 327
Merit: 0
|
|
February 01, 2018, 06:59:23 PM |
|
In that time it's goes wrong. But it's not impossible. Who knows what's happen in the future. Bitcoin really making money it's ok but not this far.
|
|
|
|
|
hubbida
Newbie
Offline
Activity: 11
Merit: 0
|
|
February 01, 2018, 07:14:21 PM |
|
Gridcoin is a great coin because you're contributing your processing power to science and then getting coins for it. All other coins or more like an exchange of paying for electricity and equipment for coins, which is still significant, but with Gridcoin you're actually making a positive impact on the world. That's very valuable in the long run and I think people will wake up to this very soon.
|
|
|
|
|
|
PatronRH
|
|
February 01, 2018, 08:26:53 PM |
|
Yeah maybe but that thin air has a high value. I know bitcoin is digital but it has value a lot of things that normally we don't really need has a really high price such as a t shirt signed by a celebrity. And we really focus on this that 100 dollar bill that you have doesnt actually cost a 100 dollars so why not bitcoin?
|
|
|
|
Dogeboi3210
Newbie
Offline
Activity: 41
Merit: 0
|
|
February 01, 2018, 08:31:35 PM |
|
He doesn't know what he is talking about.
Bitcoin is supported by the trust of holders, just like gold or fiat money. Gold and money would not worth anything if it was not given trust. Same thing with Bitcoin and other cryptocurrency.
|
|
|
|
|
seoincorporation
Legendary
Offline
Activity: 3136
Merit: 2908
Top Crypto Casino
|
|
February 01, 2018, 10:48:30 PM |
|
That's funny, and it is becoming a kind of tradition. Every year there are someone who gives the same senseless speech.
Well, to those ones to believe BTC is based on air, I will say: “Ok, so, what is your opinion about Contemporary Art market? Do you know they can sell you the authorization (only a paper where you are allowed to do something, usually sing out by the “artist”) to put some rubble in your dining room, for the reasonable price of $1,000.000 dollars?”
Contemporary art market is thin air, indeed, it has become the best way to clean dirty money, I’m afraid!!! But everybody looks to the other way, for this is “art”. Nevertheless, how they love to say senseless but beautiful phrases like the one you posted about BTC market!!! We should just laugh!!! ;P
|
|
|
|
|
Emitdama
|
|
February 02, 2018, 10:12:41 AM |
|
They key is to have enough converted to fiat, land, and gold before the music stops. What's funny are the people who complain about the music.
Of course many are getting rich, and they are not jealous. Many people are trying to think that it is not a good thing and it only brings misfortune. I do not think they will stop that, but I believe in Bitcoin because it helped me change my life. Bitcoins are amazing and people are changing their lives with this spectacular coin. Bitcoins help them to increase their financial states and these people are working hard to make this happen. But yes some people are jealous for others as they have nothing to be happy for themselves so they better ruin their life on delousing from some other successful person. They must not be doing this, it isn’t professional and ethical. |
|
|
|
|
|
Glydel1999
|
|
February 05, 2018, 06:01:13 PM |
|
Yes, every seconds that passed by the bitcoin creats money for you so all investment that you made in their company and management will be worthy and paid-off in future.
Bitcoin helps every individual in the whole world to earn income in easy way.
|
|
|
|
|
elizavetausova0112
Newbie
Offline
Activity: 84
Merit: 0
|
|
February 08, 2018, 11:55:32 AM |
|
Well, not out of thin air! Very many people work hard and a lot! work out a strategy advise! I do not think it's easy
|
|
|
|
|
|
