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Author Topic: Bitcoin is creating money out of thin air  (Read 1386 times)
TooDumbForBitcoin
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February 28, 2018, 02:42:53 PM
 #221

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

 Grin It is like Jamie Dimon's (JP Morgan CEO) statement about "bitcoin is a fraud" for which he after apologized. Just wait some time..



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DBronze98
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February 28, 2018, 02:45:11 PM
 #222

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.   Angry
Big investors do not dare invest in things that are too risky like the crypto, and they start to scoff at things they do not. So do not worry too much about this, it's like a circular investment, the failed investors will profit the winners.

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February 28, 2018, 02:48:06 PM
 #223

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

You can't make money out of thin air. You technically lose the bitcoin you sell for money. You sell your bitcoins to something that is as temporary as money. It's not about getting where the money is but the fact that you traded pure potential for money.

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March 01, 2018, 06:41:45 AM
 #224

   If you look at the people are busy with different work in the bitcoine ecosystem, count how much they spend on it time and resources,
how much energy is spent, how large is the already large infrastructure around this whole community.
   Is this money from the air?
PilosopongTacio
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March 01, 2018, 07:01:39 AM
 #225

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

I think he got it all wrong. Bitcoin value is increasing fast due to the cause of supply and demand. While bitcoin is increasing drastically in demand and people are now learning about it everyday, investments grow too he just misunderstood bitcoin thats why it seems like a scam for him.

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First77 (OP)
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March 01, 2018, 07:05:10 AM
 #226

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.   Angry
Big investors do not dare invest in things that are too risky like the crypto, and they start to scoff at things they do not. So do not worry too much about this, it's like a circular investment, the failed investors will profit the winners.

Super-HYIP
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March 01, 2018, 07:14:07 AM
 #227

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

Wrong!
How can make money from air? Grin
Bitcoin is powerful blockchain system.. and very huge bussines machine using new technolodgy.
It's not scam this is really, dude
jona
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March 01, 2018, 07:45:52 AM
 #228

The big scammers are the government they scam the poor to their pocket,the rich also scam the poor to their own pocket.For bitcoin it is no scam. 
Dmitry.Vastov
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March 02, 2018, 02:56:57 PM
 #229

Ex-RBI chairman said "Bitcoin is creating money out of thin air". It is biggest scam of all.   Angry
Bitcoin is not the scam, it's just the rubbish rumor because BTC is the boon for the humanity and BTC could never be the scam because investing into BTC has provided employment and so huge profit to millions of people so BTC could never be the scam, moreover BTC is an asset which can be saved for the future generation and a resource and obviously the day will come when BTC would be able to replace paper currency and would be used by everyone.
niteroy
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March 03, 2018, 02:57:48 PM
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 #230

What he said is applicable to everything that has value. So in that sense he is wrong. Anything is valued on what people are willing to pay them.If a Superman comics can cost up to $2,000,000 then why not bitcoin.
25,000,000 people worldwide accept Bitcoin. how does Bitcoin become money Huh??

USA and Saudi Arabia signed $350,000,000,000 deal for 10 years in US Dollars. That's money.
If you look at the essence of Bitcoin, you can understand that Bitcoin does not create money, Bitcoin is money, digital money based on mathematical code. Once people paid with silver and gold coins, but they were replaced by paper banknotes, later bank cards appeared, but all these types of money had a centralized system of issuing and controlling the amount of money being issued. That's why Bitcoin came to replace the old money, which is based on the revolutionary blockchain technology and the emission is strictly subject to the mathematical code laid down in Bitcoin, so it can not be compared with the traditional dollar, euro, pound, etc.
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March 04, 2018, 03:44:22 PM
 #231

US dollar, Euro, UK pound, Chinese Yuan, Yen, Indian Rupee and others are digital currency when you pay at shops, bills, online shopping by credit cards or debit cards.

Who says Bitcoin is the only digital currency ??
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March 04, 2018, 04:09:54 PM
Last edit: March 04, 2018, 04:23:12 PM by First77
 #232

US dollar, Euro, UK pound, Chinese Yuan, Yen, Indian Rupee and others are digital currency when you pay at shops, bills, online shopping by credit cards or debit cards. Who says Bitcoin is the only digital currency ??

There is all kinds of "Water Filters store" (commercial systems also with 10,000 gallons/day pure water capacity) on my Twitter page. See it (below) to know how international payments and buying is done with digital currency.
sergeykravcov177
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March 04, 2018, 04:18:15 PM
 #233

Bitcoin yes it turns out creates money from the air because in the first place it is a digital currency and secondly it is money that is taken from long or fast waiting and raising prices for bitcoins.
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March 15, 2018, 09:02:13 PM
 #234

The absence of a central node of the administration of the administration means that they are not legally and regionally banned from Bitcoin's Internet money when transferring within the Bitcoin system is not subject to jurisdiction.
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March 15, 2018, 11:17:41 PM
 #235

Bitcoin is digital currency but that doesn't mean it's not real.
Bitcoin is a currency that we cannot hold but its very valuable.High technology has come up with this new creation of currency that has already high value at the coin market capitalization.It is known as the strongest digital currency of all time because it is the pioneer coin that makes other coins exist. The concept of being decentralized has attracted more investors that made it so popular but as governments cannot take part of its growing community some treat bitcoin as a threat to the economy.It is real that were already seeing bitcoiners have change their life and became wealthy through their efforts and patience because early adoptors of bitcoin that hodl has earned high profit when the demands goes high.

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March 15, 2018, 11:19:59 PM
 #236

Lol, he says that bitcoin is creating money out of thin air, and yet fiat currency is made out of paper, and digital fiat made of binary code. In reality, currencies are given their value based on their utility, if people believe bitcoin has utility value, then its worth will increase. This principle worked for gold, grain, silk and cotton, and will continue to work for bitcoin and similar currencies.
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March 15, 2018, 11:33:52 PM
 #237

The dollar also made out of thin air. The Fed always print money as they like and they never audited. There is not a clear report about the amount of the circulation of dollars in the market and that triggered the economic crisis continued. On the other hand, bitcoin have a limited supply that nobody could control and bitcoin have transparency in transactions

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March 16, 2018, 12:43:01 AM
 #238

The dollar also made out of thin air. The Fed always print money as they like and they never audited. There is not a clear report about the amount of the circulation of dollars in the market and that triggered the economic crisis continued. On the other hand, bitcoin have a limited supply that nobody could control and bitcoin have transparency in transactions

Bitcoin can create money through investment and giving extra job to people. It is safe to invest bitcoin as long you keep with you your password. Its value is not stable but it increases which is a good point of view why its good to invest bitcoin.

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First77 (OP)
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March 29, 2018, 07:11:37 PM
 #239

Bank-wire transfers are the oldest form of digital money/payments. Bitcoin no longer is a revolution which was "big talks" all over.

Bitcoin is failing in all the uses it was talked about (no tax etc../revolution). Now Bitcoin is just a speculative/super-hyip asset and it is no comparison to gold, silver, land, real estates etc..
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March 29, 2018, 07:14:06 PM
 #240

The Federal Reserve is creating money out of thin air.  Bitcoin is rising in value because people see the use for it and the problems it is solving when compared to our Fiat currency.
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