Bitcoin is creating money out of thin air

[Bitcoincole]

I don't think it is from thin air  since it already exist for almost a decade now. Moreover, its value was then very small and now very expensive compared to fiat because many investors believe in it and until now cryptocurrency is widely known even to third world countries. It is not scam though there are peole who took advantage to its decentralization and they are the scammers and not bitcoin itself.

[befriendmywater]

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

I do not think Ex-RBI's words are true. Maybe he is creating a FUD to panic and sell off everything related to bitcoin.
I have witnessed so many cases and bitcoin is still strong at the moment. That's bullshit news and hope you do not believe it. Trust the future of bitcoin and its scale, you will get more profit.

[zhundy]

As you said the price of bitcoin is very expensive due to huge demand for it,and the demand is created by huge whales.But bitcoin was not a scam it has the value and it is not constant because of the limited quantity.A small change in the demand of bitcoin will change the price also.
But people are saying bitcoin as bubble for over a decade now but still bitcoin holding its position in crypto currency market.I too have faith in that bitcoin will be the future currency and the price of bitcoin is still in the early stages the price will increase in the coming days.

[Menawi12]

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

Bitcoin creating from proof of works. Miners get their bitcoin as reward from their works on blockchain. Actually dollars made from thin air and they just printed money without proper audits

[Jorge158]

That's a false statement since people have to convert their fiat into Bitcoin and gain profits depending on the market price. Bitcoin is just like all investments which can generate you much profit depending on the demand of the market.

[leavolnhals]

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

Maybe bitcoin is cheating the traders like us. We can not know behind the bitcoin there are those who are holding it and operating it. All information is strictly confidential and only insiders know the truth. But anyway it's giving us a lot of profit, trust it at the present time and make money from it.

[jikurpa]

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

sorry if this is a fraud why many bitcoin investors are successful by benefiting from the investment, if it is bitcoin it is a fraud why there are still many investors who invest in it a little my thinking

[Ucihashin]

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.

[ondabeat]

bitcoin our country is a fraud and more about investing with more losses, that's why some people talk about it like that, i think also if you experience crypto in a bad way like your trade is wrong i'm sure you will say it is not good, or you just read about crypto in statements or bad news.

[Janation]

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

sorry if this is a fraud why many bitcoin investors are successful by benefiting from the investment, if it is bitcoin it is a fraud why there are still many investors who invest in it a little my thinking

Bitcoin is not a fraud, but if it is then why a lot of governments of every country supports Bitcoin? Bitcoin may have a surprising price every now and then but we all know that Bitcoin's price is dependent on the demand and supply. With a lot of whales, a lot of supporters and users of Bitcoin, it is far from being a fraud, it is just becoming more of an asset.

[daxiake]

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

then he's referring to banknotes as well. creating money out of a blank sheet.

banknotes are just printed on paper and is backed by the word of the government. the government says that banknotes/fiat are valuable and the people believe it. when the government devalues money, or declares that a certain banknote series will no longer be accepted as payment, people will believe it. if you keep a large amount of that banknote series that was devalued by the government, that would mean you're instantly broke!

Very right. I would rather say that Central Banks and big financial institutes PULL MONEY FROM THIN LAYER. No paper currency has ever retained its value over time. Central banks prints more and more currency notes to reduce their debt, while increasing inflation. BTC is a new financial system that will bring transparency and is the main reason why more and more people are attracted towards it.

[jhonvir666]

nope !! it is not so much that bitcoin creates hard-earned air money and explains how to make a bitcoiner succesful. for my opinion bitcoin is a digital currency of all countries admired by the members here because the bitcoin is many of the people who have been successful in living are also a cryptocurrency for investment and more. about bitcoin money we must first work harder and well done so that we can get the bitcoin payroll kit and there we can see the money that we make a sum of money not just the wind. because of our effort and patience we get our desired patches of bitcoin.

[brylle34]

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

its either of this three, he does not now bitcoin that's why he is saying this kind of things, or he know bitcoin but he had lose his profit thats why he saying negative things about bitcoin, or this he knows bitcoin and he is causing fear, uncertainty and doubt, usually evoked intentionally in order to put a competitor at a disadvantage (FUD), to buy cheap because he miss to buy recently while the value is on dip, to bad for him , bitcoin will now get back to its current heights.

[BitcoinPanther]

To say that Bitcoin makes money out of thin air simply indicates that the person has no acquaintance whatsoever with the favored cryptocurrency of our time.

Remember that behind every bitcoin is an algorithm executed by machines (tangible, physical, uses electricity, has a value, and definitely not made out of thin air), making this digital currency something of value already to start with.

We purchase software and mobile apps every now and then, these are digital in nature, yet we never think of it as something made out of thin air, do we?

[bce]

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

if this is a fraud why many investors are continuing to invest and earn their investment profits and that is not a lie and it has been proven

[saiful1234]

Bitcoin creating from proof of works.The price of bitcoin is very expensive due to huge demand for it. It is far from being a fraud. It is just becoming more of an asdet.

[sureshotcoin]

yes bitcoin is making money from networks decentralised through mining if u take it as money it is money if u take it as currency it is currency it is how we treat

[simongoat]

Its strange that someone from the world of banking accusations about money being created out of thin air. Does he not know how FIAT currency and fractional reserve banking work? The banks have been creating money out of thin air for years in such a crazy and stupid system. The only reason why everyone doesn't know it exists is because no one could ever think our so called advanced financial system could run in such a corrupt and biased way. But it does.

[Jocuserious]

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

Bitcoin is a degital currency,not real money like that.monay can make people also them.bitcoin to doller then sell claim and got money.its price creating reason demand to it fair.it will go to back current higher price.

[eifer0910]

If they did it in a wrong manner or they did it in scamming other people then this is true but for me proven and tested that bitcoin is not scammed and I earn money in a good way and not by hurting other people.