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Author Topic: The truth about bitcoin  (Read 3787 times)
InboundMercury
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August 06, 2018, 08:57:50 AM
 #221

One thing i understand that a large number of people don't know about crypto just they know that it is very easy to make money from here and the main problem creates from here.
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rickyNmorty
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August 06, 2018, 09:00:42 AM
 #222

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.

Right. But the thi the is, they do not know about bitcoin. And that is one of the truth. Many people uses bitcoin just to earn profit not because 'bitcoin is the future' we all know that. Another thing is that, bitcoin will become the future of all of s as abouve stated we shoul focus on the technology and that is whats going on today. Continuous improvement in technology together with cryptocurrency.
dohh
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August 06, 2018, 09:27:53 AM
 #223

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.

Right. But the thi the is, they do not know about bitcoin. And that is one of the truth. Many people uses bitcoin just to earn profit not because 'bitcoin is the future' we all know that. Another thing is that, bitcoin will become the future of all of s as abouve stated we shoul focus on the technology and that is whats going on today. Continuous improvement in technology together with cryptocurrency.

You are wrong. "Continuous improvement" is just bla-bla-blah, to give BTC a bit more time to live. Thats very similar to many othes schemes. You will be introduced with Schnorr signatures, MAST, Lightning network, etc...

Except, none of these wont work. BTC will keep its price more or less as long as there is a hope for a miracle technology, that comes and solves scalability issue. Lets leave everything else aside for now, including question, whether BTC is needed as product at all, and focus on solving scalability issue only. IT WONT HAPPEN. And as it wont happen, that means, there is no viable product behind name of BTC, therefore is as good as pyramid.
cdcjk
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August 06, 2018, 09:28:01 AM
 #224

And I cannot be disagreed with you, it is very simple and obvious, and yet many of people are just not understanding that. In my opinion people will always be like this believing in fast and easy richness.
spaopera
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August 06, 2018, 09:32:51 AM
 #225

The bottom line is that with a risk comes a great reward and only the few willing to risk will eventually rule the game.
KofiAdepa
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August 06, 2018, 09:36:52 AM
 #226

That is just that, you have to strive hard to get it. Its not something easy  Smiley

●  ●  ●    Auditchain    ●  ●  ●
◄►  REAL-TIME ASSURANCE. ONE BLOCK AT A TIME  ◄►
zahrah74
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August 06, 2018, 09:55:30 AM
 #227



Bitcoin is a digital currency and also functions as a real currency and the existence of bitcoin makes people rich and Bitcoin progresses.
richkid3001
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August 06, 2018, 09:59:24 AM
 #228

Everyone is bullish of a stock they hold because if the price goes up they make money. Right now everyone holds BTC 
dohh
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August 06, 2018, 10:31:47 AM
 #229

The bottom line is that with a risk comes a great reward and only the few willing to risk will eventually rule the game.

This is perfect sample of "risk assessement", that leads to unavoidable bankrupcy at some day.

Not the biggest risk takers are rewarded the most! Far from that! Mainly early whales and some very good speculants earn well with BTC. Regular buyer plays with luck with poor odds. As people who have stock background, have an advantage, when speculating if BTC goes up or down, they are ready to play along that game.

If BTC core technology and especially its scalability ever went under SERIOUS investogation, it would become all clear, that this is a financial scheme, not more. Those who have early supply of many BTC, run huge profits now, those who mine and those who buy now at market price, they just gamble, not more. 
ndhdiwo234
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August 06, 2018, 10:39:03 AM
 #230

Are you talking about the nature of Bitcoin or the value Bitcoin brings? If you say Bitcoin is a scam, then it is hard, it is just a tool to serve the fraud of its users.
ddd4367a
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August 06, 2018, 10:39:53 AM
 #231

The risk of losing money when investing in Bitcoin is present, but in fact, you have invested in it will have to accept some risk if you want to enter the global financial market.
Bdstar
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August 06, 2018, 10:45:38 AM
 #232

Bitcoin is not like magic which leads to you finding out a rich status, It's a virtual currency. You may take this platform for trading and investment so that It's a part of a currency as like we have in our country. Basically, Bitcoin is a currency, not anything more. So don't be fantasized about this platform.
Delinquency
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August 06, 2018, 10:53:51 AM
Last edit: August 08, 2018, 07:16:54 AM by Delinquency
 #233

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.




You're right but any logical man who invest bitcoin don't (or shouldn't) see bitcoin as risk free, easy, short road to fortune. People who think that way will lose most of their money. I am (and many people) aware of risks and possible bad circumstances. And we risk our money on purpose.
dohh
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August 06, 2018, 10:53:59 AM
 #234

Are you talking about the nature of Bitcoin or the value Bitcoin brings? If you say Bitcoin is a scam, then it is hard, it is just a tool to serve the fraud of its users.

Very good. This precisely is the whole point of my topic. I want people to come to that statement, as You wrote in last sentence.

I indeed think, that BTC is just a tool for scamming. As it became so ridiculosly popular, some late joiners (besides whales) can make good money in it too, by guessing, how BTC price will change. Eventually it becomes obvious, that BTC is not viable as product (currency) and it will lose most of its price, maybe all. It´s a scam, maybe not designed to be, but that wont matter in future.
maminelly
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August 06, 2018, 11:02:57 AM
 #235

money is good and available for everyone, its is called an entrepreneurship and its not risk free nor usually money is risk free and available for anyone, it is called a salary, but that is usually not very good...anyone can get their share of it, it is essentially a scam are being scammed with money, electricity or just waste of time 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.where people are attracted with false promises and where the nature of their investment is kept hidden by purpose...
warwar
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August 06, 2018, 11:04:46 AM
 #236

Bitcoin is not like magic which leads to you finding out a rich status, It's a virtual currency. You may take this platform for trading and investment so that It's a part of a currency as like we have in our country. Basically, Bitcoin is a currency, not anything more. So don't be fantasized about this platform.

Though if you are lucky then.it could lead you to be rich though this time as in right now I think it is just for side job so that you can earn some money to support your daily life. Also the truth of bitcoin is if you hold it goes to the moon though it is true but what is the essence of bitcoin if you just hold right ? Think of it
scrypt256
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August 06, 2018, 11:10:05 AM
 #237

Yes in bitcoin there is no easy,risk free money is available because before investment we need to understand what is the crypto market and how this work also we need to research about how we can make money because here need more analysis skills and technical knowledge how this market work and what is the right time of entry and exit in the market.
TetraSquad50
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August 06, 2018, 11:44:39 AM
 #238

Yes you are right sir, if we consider it a business then no business is risk free and if they don't want to take risk then i must say this track is not good for them.
yorannic
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August 06, 2018, 11:54:13 AM
 #239

Conspiracy theories you always have a place to be in the minds of people. Even if we do not know what bitcoin really is for, but with the same probability we will not know why he was conscious. Just as we learn why the Internet was created and why banks were created or for what purpose they came up with a religion. These answers will always be in the hands of a certain number of people (the creators of this or that product) and ordinary people, they will not tell them.
Maruf Nazir
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August 06, 2018, 12:27:05 PM
 #240

There is no fixed wage in bitcoin, here it is paid by paying attention to your work. The greater the amount of intelligence that will be used and the right way to invest money in the street will be much higher. Bitcoin survives on human deeds and on faith. The interest of people's work makes Bitcoin more advanced, and offers access to different places.
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