Bitcoin is creating money out of thin air

[mOgliE]

Well, what is your point? Do you agree with him?

If so, I strongly advise you to sell the bitcoin you have (if you have some) and leave the community.

If you don't, why do you spread things like this? I mean such a post without any argument or explanation... It is quite empty 

Bitcoin is not a scam. You can find frauds and scams involving bitcoin, of course, but it is not the whole story. Bitcoin is not just "air". Do you really need to print something or have it in your hand for this thing to have value? Of course, this cannot be the opinion of a bank, or its chairman...

[mafia22]

The stability of the system is based on the number of users who have an official client running. While their majority, Bitcoin does not threaten anything.

[vintages]

Lol...this made me laugh. His statement is more like he is pained and whining. I  the man is probably a banker or even from a government agency from a bitcoin banned state. This is usually there words. This people should understand that bitcoin is a work of technology that have come to stay. It creating money out of thin or it shouldn't be their major concern.

[First77]

Does anyone still remember 2008? Trillions of dollars lost because  of the mess they got us in with the housing market!!!!

and those stock markets crashes  and silver price crash   

[winyau8888]

Printing fiat money without assets is creating money out of thin air also. It is much worst thing ever. They just do not want people to get rich. They need to be the top the the chain. However, cryptocurrency changed everthing and they are afraid!

[scarjoe]

it is creating a money but it is not a scam.

[Shreek]

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. 

narrow thinking, and I think the statement is just to make everyone laugh and then leave without having a good impact for others.

[senin]

The expression that bitcoin creates money from the air does not correspond to reality. Bitcoin is only a digital medium of the money that was invested in it. When investing people give their real money and buy a certain bitcoin or several bitcoins for them. Therefore, the foregoing is clearly not true.

[xiaopang11]

Start I also have the same idea, I also believe that the currency is a scam, later when I gradually understand the COINS, I think that the currency is a digital currency can create value in the near future, I believe that the currency will replace the existing currency

[TheUltraElite]

OP needs to learn about mining and what is a POW proof of work scheme. Its how new bitcoins are mined. The mined bitcoins is the proof of the work done by the miners that is the hashing processes.

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.   Angry

He is an idiot if he said that. Or its a fake news.Or its paid news. Get used to it because fake news and FUD propaganda news is what is running the world at this time. You need keep your head straight and not get influenced by every other news article.

Also OP should link the article where it was found - otherwise this has no credibility.

[ngefek berat]

Bitcoin is a type of digital currency that can rely on someone to make a profit so the statement you mentioned above in my opinion is very unreasonable.
The reason,bitcoin in fact even improve one's economy and until now still continue to experience a very large enthusiasts.

[Walrus1]

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.   

shit the stock market created trillions out of thin air

[boboking]

Printing fiat money without assets is creating money out of thin air also. It is much worst thing ever. They just do not want people to get rich. They need to be the top the the chain. However, cryptocurrency changed everthing and they are afraid!

This is exactly what i am thinking of, they are just against Crypto that is it. They are the one that scams billions of people on a daily basis.

Sad to say but some people believes this type of propaganda.

[Mohamme]

What about gold? What is gold worth? Is gold also  creating money out of thin air? This man's comments are really interesting. Like a fool.

[iamryan]

No, Bitcoin is not generating money out of thin air, but generating money from a “proof of work” which is a mathematical algorithm.

[darrly]

Its not creating money out of thin air. People are investing and putting money to it that is how it makes money. Now it has gain popularity, more people investing to it means more money.

[jbkg111816]

Those who think bitcoin is a scammed are those who do not understand bitcoin very well because bitcoin is something created to let people enjoy financial freedom for themselves.

[ethereumhunter]

Its not creating money out of thin air. People are investing and putting money to it that is how it makes money. Now it has gain popularity, more people investing to it means more money.

I think bitcoin is double our money as a long-term investment and if we can buy bitcoin when the price is down, then imagine if the price is back increase and how much money we can make. and now, people investing their money in bitcoin because they want to make more money in the future and I am sure that they still do this even if the bitcoin price is too expensive for them. bitcoin is not creating money but bitcoin is helping us to make another money by investing.

[HG_Lincs]

wrong statement, I think he does not understand bitcoin well. maybe some senior can explain bitcoin to him.

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[UAE Seasider]

You have to laugh at these people, trying everything they can to put people off involvement with Bitcoin or other digital currencies. Fractional reserve lending is possibly the biggest financial  scam of all time and allows banks to lend out 9 times what they take in from deposits. They just type numbers into a computer to change your balance with a loan now that really is money out of thin air.