People call bitcoin a fraud or ponzi scheme

[Aldrinx00]

Because they know anything about Bitcoin and they maybe had a bad experience that instead of having profit they lose more of their investment. Most of us know that Bitcoin is not for people who don't have patience learning and understanding what's it's use case, instead new people just want to invest and gain profit but ended up losing because of greed.

[dohh]

Sutters, You can not know for sure, what was the motivation behind creating BTC.

No, but have you read the whitepaper and satoshi's postings on here? The model is spelled out in detail right there. It's obviously up to you whether you believe it or not, but I think if it was satoshi's idea to create a scam or ponzi from the get-go then he would have cashed out his coins by now and be enjoying his life as a billionaire on a beach somewhere whilst he shops for Lamborghinis. What else would he be waiting for? To become a trillionaire? I doubt it.

Not exactly. Satoshi could, in theory, have mortgaged his Bitcoins and might have taken cash for it. In such a case those bitcoins would have never made it into the open market and would still be held with the private or institutionalized lender that would have given out cash for those coins.

This could have been done without even moving the coins outside of their original wallets, just sell the private key, hard drive etc etc IMHO It'd would be quite disastrous if all those original coins are actually held by someone who's not the real Satoshi. Such an individual would be more interested in cashing out their coins at a future high point of the market - something which the real Satoshi may not choose to do so. Idealistically.

Yep, You can not tell anymore, who of the early whales and how many coins really have.

[vagsun]

People who call, bitcoin as fraud or ponzi scheme, are totally dumb. They don't know the blockchain technology. They have no idea that how powerful is the blockchain technology. Its not at all a fraud, its just a new way to invest and multiply your capital amount. You can invest as much as you can, and invest without any hesitation because its not at all a fraud, its totally decentralised.

[jjacob]

Sutters, You can not know for sure, what was the motivation behind creating BTC.

No, but have you read the whitepaper and satoshi's postings on here? The model is spelled out in detail right there. It's obviously up to you whether you believe it or not, but I think if it was satoshi's idea to create a scam or ponzi from the get-go then he would have cashed out his coins by now and be enjoying his life as a billionaire on a beach somewhere whilst he shops for Lamborghinis. What else would he be waiting for? To become a trillionaire? I doubt it.

Not exactly. Satoshi could, in theory, have mortgaged his Bitcoins and might have taken cash for it. In such a case those bitcoins would have never made it into the open market and would still be held with the private or institutionalized lender that would have given out cash for those coins.

This could have been done without even moving the coins outside of their original wallets, just sell the private key, hard drive etc etc IMHO It'd would be quite disastrous if all those original coins are actually held by someone who's not the real Satoshi. Such an individual would be more interested in cashing out their coins at a future high point of the market - something which the real Satoshi may not choose to do so. Idealistically.

That is not going to happen. No financial institution is going to accept a mortgage over private keys. Not even for Satoshi. If two people (the borrower and the financial institution) have the private keys, any one of them can move or access the coins.

[deppil]

These people calling bitcoin a fraud or a Ponzi Scheme are losers. Too lazy to do some research but thinks they know everything. Can’t wait to see the look on their faces when bitcoin becomes mainstream.  

Yeah the time will slap their faces. when what they think about bitcoin is different from the reality that exists in the future.
we don't need to be busy to debate with them. the future of bitcoin itself will answer they questions

[BertoloyBTC]

People who are not and no proper infornations about cryptoxurrency and bitcoin will call bitcoin a fraud or like ponzi scheme, but they are mistaken because bitcoin now is popular because of its useful technology in the digital world , and cyptos serve as currency and thse same time investments.

[Lankabc]

People used to say bitcoin is a scam too. but It never became a scam.This is a technology. people who don't know anything about digital society and the new technology,  they can say anything which match with their knowledge. I am pity for them. 

[Abigail Asi]

Yes. I have heard this several times. People call bitcoin a scam and fraud but the exciting thing is that bitcoin has never become a fraud or ponzi scheme. Those who call bitcoin names don't know anything about it and are not ready to learn anything about it.

[kram31]

Let them call Bitcoin in any names they want.
It is the time to accept critics as it is falling down.
but sooner or later we will just laugh at them and make them suffer on what they did and not investing any amount on this cryptocurrency.

[Ace Amias]

Yes you are right but its the mentality of people they think that's all gonna be over soon but the people also talk about the fiat money that it will be over soon is fiat money over not but the people who said all over the bitcoin journey is just now started and the road to success is always tempted and I am pretty sure that bitcoin will overcome to its place again.

[Shadesofglory]

Not everyone would come to terms with cryptocurrency as such, not really that fast and easy. The idea and motion that it is a ponzi scheme is scaring off some people from joining, especially those with reservations to Ponzi scheme and those defrauded by it. The price issue would equally contribute to it. It will be difficult and it will take a long while or time to change this mentality of Cryptocurrency from people.

[RomanPetrush]

Cryptocurrencies are the same currencies as fiat, the difference only in the technology how to count money. The blockchain is a new worldwide bank, we don't need any more local banks, regulated crypto will do everything.

[kendra1107]

This is because there are people who use Bitcoin for their fraudulent activities. This gives a negative impact on Bitcoin which gives it a bad image. Bitcoin per se is not a fraudulent system. The system is great. It's the people behind these activities who are the culprits.

[OrangeII]

This is because there are people who use Bitcoin for their fraudulent activities. This gives a negative impact on Bitcoin which gives it a bad image. Bitcoin per se is not a fraudulent system. The system is great. It's the people behind these activities who are the culprits.

I am not surprised by that. well, sometimes bitcoin does look like that, moreover it is supported by many scam sites. Well, people who only glimpsed bitcoin will, of course, think like that. I am sure, when they enter the crypto world, they will change their minds.

[BlockchainGod]

I think people who believe bitcoin fraud simply do not understand its essence. I think these people have not studied bitcoin and do not know how it works, they are just upset by the temporary drop in prices.

[rakokiller1]

I think its no fraud, but new possibility for people to make money and keep it safe

[gooddly]

This is because there are people who use Bitcoin for their fraudulent activities. This gives a negative impact on Bitcoin which gives it a bad image. Bitcoin per se is not a fraudulent system. The system is great. It's the people behind these activities who are the culprits.

Most likely, in these actions bitkoyn as such, and does not participate, just use its name to give solidity to these fraudulent actions. But it's impossible to explain this to all people ...

[legendster]

Not exactly. Satoshi could, in theory, have mortgaged his Bitcoins and might have taken cash for it. In such a case those bitcoins would have never made it into the open market and would still be held with the private or institutionalized lender that would have given out cash for those coins.

This could have been done without even moving the coins outside of their original wallets, just sell the private key, hard drive etc etc IMHO It'd would be quite disastrous if all those original coins are actually held by someone who's not the real Satoshi. Such an individual would be more interested in cashing out their coins at a future high point of the market - something which the real Satoshi may not choose to do so. Idealistically.

That is not going to happen. No financial institution is going to accept a mortgage over private keys. Not even for Satoshi. If two people (the borrower and the financial institution) have the private keys, any one of them can move or access the coins.

Are you serious? This is a billion dollar industry and its in a nascent stage. Comparable to the 1800's for the automobile industry.
Sure, not every institutionalized bank or lender would want to take the risk, but you only need one group to agree to do this and you're all set.

If you have connections and if those connections are risk takers then this is - literally a billion-dollar gamble that has a huge payoff.

[Piggymonster]

Those who brand bitcoin as a biggest scam or fraud will regret it later because bitcoin is real and the technology behind it is powerful. It is the money of the future.

[Getmon]

Why call something that is not owned by a few people or business or government institutions a fraud? Bitcoin is owned by no one else but by the people themselves. And is that a fraud? Perhaps fraud could aptly be used to describe the rising and falling values of domestic currencies when no one really understands why. Perhaps it is fraud when a piece of paper is valued $100 simply because those with a lot of them say so.