Bitcoin is creating money out of thin air

[First77]

Reserve bank of India (RBI) has ordered Indian banks to stop supporting bitcoin transactions.

[Spaffin]

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

Bitcoin itself does not create money, so this statement is not true. Bitcoin is just a form, a shell. To make it gain value, it needs to be pumped up with money. We buy bitcoin and thereby increase its cost. You can also ask another question: if we bought bitcoin for 20,000 dollars, then its course dropped significantly, where did the air go?

[First77]

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.

You are using that money to buy Bitcoins

[satecream]

that was funny statement for all i see, i think he don't research properly about bitcoin and i think he not read after all, bitcoin not made any money it supply are enough and not create any new btc again, and price are rising high because of the supply are low and many people are using it, that man is just a shame

[Kopceak_MD]

As from the air? He creates out of electricity. That is, we buy electricity for $ 6000. Strange we are people) 

[brickafterbrickwalldpt]

I strongly disagree with this statement. Isn't printing fiat creating money from the air? They have no value at all, they are claimed to have value because central bank supports certain fiat. I don't think that there is any currency that is backed by real gold. Even the USA decided to get rid of gold parity few decades ago. They are simply taking advantage of people who don't know how money and Bitcoin work. They can easily persuade anyone that Bitcoin is just a few numbers on a couple computers. We could say the same about banking these days if we had to describe it like that.

[dancingnancy]

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

Ignorant. If he's not even sure about how blockchin works in general what's the point of creating statements. Surely he's knowledgeable about how money works he might just not agree with the fact that people will reduce their interests towatds banks and laymen will start trading on crypto.

[martirosyan666]

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

[lisasteca]

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

I will never understand these bullshitter assertions. They criticize the btc as scam but do not see that even the fiat currencies are now only pieces of colored paper often without a real wealth behind.

[First77]

I will never understand these bullshitter assertions. They criticize the btc as scam but do not see that even the fiat currencies are now only pieces of colored paper often without a real wealth behind.

Federal reserve USA will be the next to stop banks from working in anyway with Bitcoin when Donald Trump has personally taken up drug cartel issues from Mexico

[AnnaGeraMsk]

an interesting fact who can answer who thinks that bitcoin is money from the air, When the company goes with the product on the exchange its capitalization is 100 bucks and then it went to the stock exchange and the price rose to 500 bucks, an increase of 5 times, like the company it went up by 400 bucks?)) Why do you think that the company selling the product does not make air from the demand

[KevinHD]

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

Well definitely, Bitcoin had been generalized to be a scam. But that's where most were wrong. Bitcoin is just a currency implied on our modern technology. Its just like the normal fiats. It grew its price base on the exchange on market, and therefore not a scam at all. It's just being used as a front.

[kache2018]

I do not understand why people say such a thing. Instead of making ridicule of what bitcoin does to people, why don't you shut your mouth and do your thing. You are not even helping. Just keep quiet and leave everything to bitcoin. This is not a scam.

[MEMEX]

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

Currency is a means of payment or a medium of exchange which is mutually agreed upon by the community, although made of wood or stone. So as long as the community thinks bitcoin is valuable then bitcoin is valuable. Even regardless of the technology behind it though.

[First77]

I do not understand why people say such a thing. Instead of making ridicule of what bitcoin does to people, why don't you shut your mouth and do your thing. You are not even helping. Just keep quiet and leave everything to bitcoin. This is not a scam.

Reserve bank of India (RBI) has ordered Indian banks to stop supporting bitcoin transactions. In a way, Bitcoin got banned in India.

[Iam_phaith]

Bitmart a global digital asset trading platform is giving 20 Free BMX = Register + 2FA and 10 Free BMX = Invite 1 friend + 2FA
https://www.bitmart.com/?r=9iFw85

After registering on the official website, binding your account to a mobile phone number, and setting up Google Authenticator, you will earn 20 BMX.
Each friend you invite must also set up multi-factor authentication, after which you will earn 10 BMX.
All coins will be sent to your account in 7 to 10 days.
The maximum referral bonus each user can receive is 3,000 BMX (300 friends).

[beami]

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

A very wrong statement. Bitcoin never creates money from thin air. I'm sure the person who says this is actually not very well informed about Bitcoin and jumps to conclusions only from personal opinions. Please understand first about Bitcoin, do not spread the news that is not true like this.

[First77]

A very wrong statement. Bitcoin never creates money from thin air. I'm sure the person who says this is actually not very well informed about Bitcoin and jumps to conclusions only from personal opinions. Please understand first about Bitcoin, do not spread the news that is not true like this.

$0.10 to $10,000 in 9 years is money from thin air.

[ClaraLuV]

For early investors it was like making money out of thin air but now its not that easy as they say because in the early stages it did not have that much value compared to the current rate it was nothing anyone could buy them but those who want to get into the bitcoin network the value of bitcoins have come upto $ 8768 USD which not a small amount for a normal person to get that amount.  The users need to work hard in order to achieve a certain proportionate amount of satoshi's and one satoshi is the smallest unit of bitcoins.

[Veterock]

I agree that this is a huge soap bubble, but the worse it is if it is a great opportunity to earn?)