The truth about bitcoin

[dohh]

To judge if bitcoin is worth to invest in, you may consider this universal monetary rule:

There is NO good, easy, risk free money, that is available for everyone.

If the money good and risk free, it is called a heritage and it is not available for everyone.
If the money is good and available for everyone, its is called an entrepreneurship and its not risk free nor usually easy.
If the money is risk free and available for anyone, it is called a salary, but that is usually not very good.

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam. Doesnt matter if You are being scammed with money, electricity or just waste of time. It also doesnt matter if there are several people who get scammed big time at once or millions, that are scammed bit by bit, it is still a scam. Any deal, where people are attracted with false promises and where the nature of their investment is kept hidden by purpose, is a scam. Bitcoin is not what promised and that fact is being disguised now.

[Beroximos]

I agree. It no free, not easy.
Invest in BTC is very risky, and everyone should know all risks wich BTC is connected with.
Everyone assumes his responsibility for a similar investment.
But I hope people are not so stupid that donť know about it.

[brickafterbrickwalldpt]

It's not only about Bitcoin but also about many different assets. People tend to buy Bitcoin even though they don't understand cryptocurrenncies or they don't even bother to read about them. People panic right now because its price is constantly decreasing without any particular reason. Don't focus on the price, focus on the technology.

[dohh]

I agree. It no free, not easy.
Invest in BTC is very risky, and everyone should know all risks wich BTC is connected with.
Everyone assumes his responsibility for a similar investment.
But I hope people are not so stupid that donť know about it.

Im happy You agree. And especially I like Your idea, that everyone should be aware of all risks.

This is one risk, that enthusiasts dont like to discuss a lot: Bitcoin with decept propability, can be a monetary scheme, because service, that it is claimed to carry, may be worthless or very unreasonably priced. If this risk comes to reality, everybody, who actually paid real money for it, will lose everything.

Why I say so? because it requires only a mediocre sense of maths, one to understand, that mining of one coin is ridiculously expensive. Doesnt matter, that this money is scammed on the bill of electricity and not in dollars. Its still the same - there is no point to mine bitcoins. And if there is no point of doing so, it means product is empty... it only baseson (false) hopes and promises.

[TheQuin]

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam.
~
Bitcoin is not what promised and that fact is being disguised now.

Bitcoin never promised anything. What is the source of this false assertion? You seem to have made a straw man to attack.

[sunita01]

Bitcoin is a digital currency. It is also true that bitcoin works as a real money. The biggest truth is that bitcoin can make anyone rich. Bitcoin is constantly making progress.

[Pixyoxx]

To judge if bitcoin is worth to invest in, you may consider this universal monetary rule:

There is NO good, easy, risk free money, that is available for everyone.

If the money good and risk free, it is called a heritage and it is not available for everyone.
If the money is good and available for everyone, its is called an entrepreneurship and its not risk free nor usually easy.
If the money is risk free and available for anyone, it is called a salary, but that is usually not very good.

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam. Doesnt matter if You are being scammed with money, electricity or just waste of time. It also doesnt matter if there are several people who get scammed big time at once or millions, that are scammed bit by bit, it is still a scam. Any deal, where people are attracted with false promises and where the nature of their investment is kept hidden by purpose, is a scam. Bitcoin is not what promised and that fact is being disguised now.

All the propositions relating to salary, enterpreneurship etc didnt really go well with me, but the the fact tha btc aswell isnt in any terms easy, good and readily available is a well thought point.
Earning btc is a hastle, buying it is another big deal. And the stability and trustablity of bitcoins are quite shaky at any point of time. While people have turned millionaires with it, some also brough lots of misfortune when ut went down or rather crashed. So btc is not something that can be termed easy and good money. Its very very risky.

[dohh]

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam.
~
Bitcoin is not what promised and that fact is being disguised now.

Bitcoin never promised anything. What is the source of this false assertion?

Thats not a correct statement. Bitcoin promised, there will be no more than 21 million coins. I suppose You do understand the meaning of this?

They also have made many promises on their product´s characteristics.

[fargoway]

To judge if bitcoin is worth to invest in, you may consider this universal monetary rule:

There is NO good, easy, risk free money, that is available for everyone.

If the money good and risk free, it is called a heritage and it is not available for everyone.
If the money is good and available for everyone, its is called an entrepreneurship and its not risk free nor usually easy.
If the money is risk free and available for anyone, it is called a salary, but that is usually not very good.

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam. Doesnt matter if You are being scammed with money, electricity or just waste of time. It also doesnt matter if there are several people who get scammed big time at once or millions, that are scammed bit by bit, it is still a scam. Any deal, where people are attracted with false promises and where the nature of their investment is kept hidden by purpose, is a scam. Bitcoin is not what promised and that fact is being disguised now.

If the money good, easy, risk free that available for everyone - it doesn't have any value at all.

[TheQuin]

Thats not a correct statement. Bitcoin promised, there will be no more than 21 million coins. I suppose You do understand the meaning of this?

They also have made many promises on their product´s characteristics.

Who are 'they'? Bitcoin is not a group of people. Bitcoin cannot have made promises. I doubt you understand the meaning of this.

[Filthy1]

All investments are risky you can lose all your superannuation you have accumulated from work Bitcoin is no different but you make a choice DO NOT INVEST WHAT YOU CANT AFFORD TOO LOSE take a $1 and build an empire

[dohh]

It's not only about Bitcoin but also about many different assets. People tend to buy Bitcoin even though they don't understand cryptocurrenncies or they don't even bother to read about them. People panic right now because its price is constantly decreasing without any particular reason. Don't focus on the price, focus on the technology.

While I agree very much, that those rules apply on many assets, people have right to panic, if they have paid real money for nothing. Once again: technology may even be right (Im not saying it is, but leaving possibility open), but it still may be unreasonable use of it. As I wrote in last post: calculate what is the real cost of producing one coin? Multiply electricity and hardware costs of all miners (those who succeed and those who not) and divide it with actual number of coins released... You understand pretty well, its so ridiculous price for blockchain, that it just CAN NOT work in context of currency.

[rizki90]

it is true any form of investment has risks. for bitcoin is an investment that has the greatest risk, but it will also be very profitable. behind all existing investments, for digital currency especially bitcoin is a good investment in the future because it is very promising.

[Virtual miner]

To judge if bitcoin is worth to invest in, you may consider this universal monetary rule:

There is NO good, easy, risk free money, that is available for everyone.

If the money good and risk free, it is called a heritage and it is not available for everyone.
If the money is good and available for everyone, its is called an entrepreneurship and its not risk free nor usually easy.
If the money is risk free and available for anyone, it is called a salary, but that is usually not very good.

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam. Doesnt matter if You are being scammed with money, electricity or just waste of time. It also doesnt matter if there are several people who get scammed big time at once or millions, that are scammed bit by bit, it is still a scam. Any deal, where people are attracted with false promises and where the nature of their investment is kept hidden by purpose, is a scam. Bitcoin is not what promised and that fact is being disguised now.

Yes that is a great thought. Money is not easily minted. It takes a lot of hard work to earn money and to keep it invested in lucrative options. And bitcoin is a risky investment but it fetches us lucrative returns. It has let many a people to lead an extravagant life. Also there are so many people on this forum who are routinely employed elsewhere and also doing bounties on this forum. They put a lot of hard work along with smart work and ultimately are able to get themselves a good standard of living. The market is risky because of its volatility, that shakes the confidence of so many people in the market. But they need to realise that this is the harsh reality of life in the end!

P.S.: A ship is always safe at shore but that is not what it's built for!  

[dohh]

All the propositions relating to salary, enterpreneurship etc didnt really go well with me, but the the fact tha btc aswell isnt in any terms easy, good and readily available is a well thought point.
Earning btc is a hastle, buying it is another big deal. And the stability and trustablity of bitcoins are quite shaky at any point of time. While people have turned millionaires with it, some also brough lots of misfortune when ut went down or rather crashed. So btc is not something that can be termed easy and good money. Its very very risky.

There is a huge difference, if people get rich by investing into new concept, that becomes enonourmosly successful (goole etc) or they just get rich because, they joined into fraudulent concept in early phase (most monetary schemes). If You talk about risk in that context, then yes, I agree... its very hard to guess, when You can "invest" if You want to make money out of scheme.

[FlightyPouch]

Bitcoin is a digital currency. It is also true that bitcoin works as a real money. The biggest truth is that bitcoin can make anyone rich. Bitcoin is constantly making progress.

This is the reasons of these post. Bitcoin cannot ensure it's investors or users that it can give them a good profit, there is no easy ways nor risk free money as the OP says and Bitcoin is not an exception. Bitcoin is a volatile digital currency so the price is unpredictable and that is a feature of Bitcoin, it's risk is a give away even before you invest on it.

[dohh]

Thats not a correct statement. Bitcoin promised, there will be no more than 21 million coins. I suppose You do understand the meaning of this?

They also have made many promises on their product´s characteristics.

Who are 'they'? Bitcoin is not a group of people. Bitcoin cannot have made promises. I doubt you understand the meaning of this.

Sorry, can not answer You at the same rate. As a newbie, my post rate is limited.
"They" are those who decided, there can be 21 million coins. have You asked Youself, why so? Whats the logical/mathematical reason behind it?

[stompix]

Thats not a correct statement. Bitcoin promised, there will be no more than 21 million coins. I suppose You do understand the meaning of this?

They also have made many promises on their product´s characteristics.

Care to link us to the post/article where this Bitcoin guy promised there will be no more than 21 million coins?
Also can you please show us some proofs that there are more than 21 million bitcoins?  
What more promises has this Bitcoin made?

New account and you're already in a single day at 17 FUD posts. Nice...NOT!

All investments are risky you can lose all your superannuation you have accumulated from work Bitcoin is no different but you make a choice DO NOT INVEST WHAT YOU CANT AFFORD TOO LOSE take a $1 and build an empire

it is true any form of investment has risks. for bitcoin is an investment that has the greatest risk, but it will also be very profitable. behind all existing investments, for digital currency especially bitcoin is a good investment in the future because it is very promising.

How about you stop looking at Bitcoin as an "investment" for a second?

[micher143]

It's not only about Bitcoin but also about many different assets. People tend to buy Bitcoin even though they don't understand cryptocurrenncies or they don't even bother to read about them. People panic right now because its price is constantly decreasing without any particular reason. Don't focus on the price, focus on the technology.

The true essense of bitcoin and it's system are not particularly in the terms of money, the real purpose of it is to have a much easiest, fastest and convenient ways of doing or making different transactions that can help to the people. Thus, to make bitcoin much useful and helpful to people it system can also use for investment where in people can earn a huge of money from it in just for a short period of time.

[dohh]

Thats not a correct statement. Bitcoin promised, there will be no more than 21 million coins. I suppose You do understand the meaning of this?

They also have made many promises on their product´s characteristics.

Care to link us to the post/article where this Bitcoin guy promised there will be no more than 21 million coins?
Also can you please show us some proofs that there are more than 21 million bitcoins?  
What more promises has this Bitcoin made?

New account and you're already in a single day at 17 FUD posts. Nice...NOT!

All investments are risky you can lose all your superannuation you have accumulated from work Bitcoin is no different but you make a choice DO NOT INVEST WHAT YOU CANT AFFORD TOO LOSE take a $1 and build an empire

it is true any form of investment has risks. for bitcoin is an investment that has the greatest risk, but it will also be very profitable. behind all existing investments, for digital currency especially bitcoin is a good investment in the future because it is very promising.

How about you stop looking at Bitcoin as an "investment" for a second?

Im not gonna stop for long on my 17 posts, lets just say, Im ill at home and this topic is interesting for me?

21 million coins, sorry for my bad English, I did not argue it. Im not going to prove, there can be more than 21 million coins. I asked: WHY IT IS SO?

But what I did like a lot, was Your last suggestion. OK, I stop looking at bitcoin as an investment. I want to buy something decentralized. Where I get coin for that? Whats the price of coin? Will I get 5000 eur worth car for 1 Bitcoin?