2013-11-21: Louis Basenese, The Bitcoin Scam Enters Hyperdrive Mode

[bitfromit]

http://www.wallstreetdaily.com/2013/11/20/asset-bubbles-bitcoin-london-real-estate/

no need to waste energy commenting on this

[LiteCoinGuy]

its good to hear different opinions ;-)

[PenAndPaper]

Wow! That title is really aggressive. The text is ridiculous though and full of arguments like "bitcoinz sux because exchanges have already been hacked "

[LiteCoinGuy]

Wow! That title is really aggressive. The text is ridiculous though and full of arguments like "bitcoinz sux because exchanges have already been hacked "

yeah thats true. dollar sucks also because banks get robbed )

but he is right a little bit: the bitcoin world has to get more professional, maybe with insurance over your funds. this will come i guess.

[PenAndPaper]

Wow! That title is really aggressive. The text is ridiculous though and full of arguments like "bitcoinz sux because exchanges have already been hacked "

yeah thats true. dollar sucks also because banks get robbed )

but he is right a little bit: the bitcoin world has to get more professional, maybe with insurance over your funds. this will come i guess.

There are many businesses that are professional enough already given that they started with minimal funds.
Scammers on the other hand are going to scam you anyway. If you know what i mean 

[oakpacific]

You should skip when you see an article from a newspaper name itself as "Wall Street Daily".

[LiteCoinGuy]

Wow! That title is really aggressive. The text is ridiculous though and full of arguments like "bitcoinz sux because exchanges have already been hacked "

yeah thats true. dollar sucks also because banks get robbed )

but he is right a little bit: the bitcoin world has to get more professional, maybe with insurance over your funds. this will come i guess.

There are many businesses that are professional enough already given that they started with minimal funds.
Scammers on the other hand are going to scam you anyway. If you know what i mean  

yes of course. i appreciate that hard work! but if you look in the future, maybe 3-5 years ahead, the busniness today will look like little puppies *wufff*  ;-)

[PenAndPaper]

yes of course. i appreciate that hard work! but if you look in the future, maybe 3-5 years ahead, the busniness today will look like little puppies *wufff*  ;-)

I 'm not so sure about that. The entry barrier will be much higher for businesses to start in 3-5 years even if they are backed by big investors.
Those that are already here have quite of an advantage.

[marcus_of_augustus]

yes of course. i appreciate that hard work! but if you look in the future, maybe 3-5 years ahead, the busniness today will look like little puppies *wufff*  ;-)

I 'm not so sure about that. The entry barrier will be much higher for businesses to start in 3-5 years even if they are backed by big investors.
Those that are already here have quite of an advantage.

Except that most of them are dishonourable sharks or outright scammers (not to say the current banking system is any better) it appears to be a widespread malady of our time in regards to financial actors ... and that indeed was instrumental in the spawn of bitcoin.

[PenAndPaper]

yes of course. i appreciate that hard work! but if you look in the future, maybe 3-5 years ahead, the busniness today will look like little puppies *wufff*  ;-)

I 'm not so sure about that. The entry barrier will be much higher for businesses to start in 3-5 years even if they are backed by big investors.
Those that are already here have quite of an advantage.

Except that most of them are dishonourable sharks or outright scammers (not to say the current banking system is any better) it appears to be a widespread malady of our time in regards to financial actors ... and that indeed was instrumental in the spawn of bitcoin.

Those scammers are burned already or they are going to get burned. Businesses that will be around in 3-5 years from now are going to be huge.

[dave111223]

Consider: Behavioral science tells us that bankers and politicians are lying to us 93% of the time. And that Wall Street is 13 times more likely to tell a lie than the truth.

http://www.wallstreetdaily.com/about-wall-street-daily/

I really need to go to Staples and pickup a Behavioral science calculator.

[tl121]

He's back with another terrible article.

http://www.wallstreetdaily.com/2014/02/27/bitcoin-2/

[Lethn]

Holy shit, these people really are delusional, I think almost all journalists who act like this towards Bitcoin should immediately regarded as pro-banking trolls because every time I try to actually analyse their mindless rants they make less and less sense, particularly with this tulip bullshit because they completely disregard the fact that you can't make more than 21 million Bitcoins and it's a deflationary currency, then there's the way they regard it as a 'scam' while of course completely neglecting to explain why it is and forgetting to mention the fact that the source code can be looked up by absolutely anyone.

*sigh*....

[Ytterbium]

Holy shit, these people really are delusional, I think almost all journalists who act like this towards Bitcoin should immediately regarded as pro-banking trolls because every time I try to actually analyse their mindless rants they make less and less sense, particularly with this tulip bullshit because they completely disregard the fact that you can't make more than 21 million Bitcoins and it's a deflationary currency, then there's the way they regard it as a 'scam' while of course completely neglecting to explain why it is and forgetting to mention the fact that the source code can be looked up by absolutely anyone.

*sigh*....

Look at what he says:

As a result, ex-Federal Reserve Bank examiner, Mark T. Williams, says that the “high-profile collapse could trigger a Lehman Brothers-type chain reaction throughout the Bitcoin market.”

Talk about not understanding bitcoin.  There isn't any debt in on the blockchain. There are no derivatives. No one with a bitcoin wallet of their own has anything to worry about what happened to MtGox.