Bitcoin could be a scam ?

[crypto1998]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

[Lucius]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

After all those questions if this service is good/bad, now you ask if Bitcoin is a scam? Well you’ve been a forum member for almost a year and a half, haven’t you learned anything all that time?

Satoshi disappeared a long time ago, and if he wanted he could have his alleged stock of BTC dump back in 2017 when the price of BTC was close to $20000. Your idea of increasing the total amount of BTC doesn't make much sense, because it's not something one person can do - even if it's Satoshi Nakamoto himself.

[jackg]

Satoshi has about 5% of the total supply of bitcoin so he could dump that. But after that he'd have no control and the price of bitcoin would probably be low if he moved his funds and then it would recover l.

[Charles-Tim]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

Lucius has said all. Bitcoin is a decentralzied currency, it is open source, which means it is controlled by bitcoin community, if you have interest, you can also be part of the community. Satoshi Nakamoto created bitcoin in a way he himself will have no power on it, and he has shown a lot of integrity by making us think we are even the Satoshi Nakamoto. In fact, we are Satoshi Nakamoto.

[Jawhead999]

Bitcoin and Satoshi is not scam/scammer, but you're the real scammer since promoting ponzi scheme project https://loyce.club/archive/posts/5499/54996249.html

[emmaglory5]

Although some may argue that bitcoin itself is a scam, some of the top criminal bitcoin scams include malware, fake bitcoin exchanges and bitcoin ICO scams. Bitcoin - the possible Pandora's Box of the currency world - has never been short of controversy.

[JeromeTash]

If it was scam, do you think Bitcoin would have lasted 10 years?
Do you think Satoshi wouldn't have at least moved some of his ~980,000 bitcoins the last 10 years? Not even in late 2017 when bitcoin almost touched $20K, and he was ranked among the top 50 richest people in the world with Bitcoins worth  $19.4 billion?

[Bitum]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

The highest number of Bitcoin is limited to just under 21 million Bitcoin. The maximum amount is specified in the Bitcoin code. Changing them requires broad network consensus. Bitcoin is therefore a finite resource. And Satoshi no longer has any influence on the network.

[Peanutswar]

You have been here on the forum and now you are still asking about the bitcoin is just a scam?. Bitcoin is a decentralized coin if you are talking about scams I think those are the projects using the name of the bitcoin to scam other people by this the image of the bitcoin becomes more ridiculus because of that platform

Bitcoin and Satoshi is not scam/scammer, but you're the real scammer since promoting ponzi scheme project https://loyce.club/archive/posts/5499/54996249.html

And i think OP come up with this topic because the already platform he used before is a scam.

[pakhitheboss]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

After being in this forum for more than a year now, you suddenly now want to question the authenticity of Bitcoin and its creator.

What an amazing way to make everyone here realize What a fool you are?

If you still have doubts leave this forum and please stop spamming this board by creating shit topics.

[Finestream]

Hi guys
do u think bitcoin could be a scam ?

No, otherwise bitcoin has already dump a long time ago when big holders sold their holdings.
They are still holding it until now because they believe in bitcoin.

do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

I don't think it's possible, experts please correct me if I'm wrong.
This is my simple analysis, if he can increase the supply, then I don't think people with knowledge on blockchain and programming will risk their money on bitcoin.

[masulum]

 the definition of scam:

From Cambridge.org definition of SCAM is "an illegal plan for making money, especially one that involves tricking people"

From Dictionary.com definition of scam is a confidence game or other fraudulent scheme, especially for making a quick profit.

Now I want to ask you, did Bitcoin do that?

So far, why i never say if Bitcoin is a scam because Bitcoin never asking you a money, you will never find any investment promising in bitcoin white paper. But, the main idea of bitcoin is to become a P2P electronic cash. So if you mining it, you get a coin. This coin can be used as payment to people who accept it. Nowaday, community change bitcoin not just a P2P electronic cash but also as digital asset, this is happen because of community believe in Bitcoin. So, from this is very clear Bitcoin as investment not because satoshi want it, but community support. when people support something, that will have a value. Example gold, diamond or other this is just a ordinary stone if people not support it. your goods will just a goods if people not support it.

do you will asking "gold as a scam in the future"?

[sujonali1819]

I am agreed with jackg. Since satoshi has only 5% BTC of total supply, He can not dump it to 0. But if this will happen in th future people will lose their trust in BITCOIN/cryptocurrency. And the market will face a huge bearish day. Actually anything can happen in the future we can not guaranty.

BTW I think this topic is not perfect for this beginner and help section. Maybe in speculation is the better section.

[fortunecrypto]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

You mean after ten years you still that thinking or suspicion that Bitcoin and Satoshi Nakamoto scam people, how is he going to do that when his shares are not moving for over ten years now, and he is nowhere to be found and besides the code he created is open-sourced, any developers or coders can check it and so far there is no such thing like that if he is going to do that he could have done that long ago.

[MICROS0FT]

what if one day bitcoin crashes? the world will be in chaos lol

[reliable]

what if one day bitcoin crashes? the world will be in chaos lol

Well it could crash just like stock markets too do it. If all int world decides to sell then yes it can crash and become 0 in value because there are no buyers, or each government decides to ban it and not to use then it could become worthless else till the time there are buyers you will have the value of bitcoin. Only thing the price will be uncertain to what level it can rise and fall.

[Yamifoud]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

Maybe you are over speculating the market and for Bitcoin, and to the one who created this. It is multiple times we said that Bitcoin is not a scam nor the creator Satoshi wants to scam people (as what you've badly thought). Because if that so, why this forum is still alive for more than a decade and why we are still here, for a number of forum members?

It was very unfortunate that people used the name Bitcoin to scam people and that it makes ruin the market image and those who never know about crypto, about Bitcoin will surely think negative and scam thing. But they wrong, absolutely wrong.

[Rengga Jati]

Hi guys
do u think bitcoin could be a scam ? do you think bitcoin developer satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero?

Do you realize how many years Bitcoin has been created? How many years this coin has developed and also spread in the market? It is very funny to think about BTC scam. However, I really appreciate your thought or question.
But personally, I will answer " never". Although Satoshi creates more BTC (it will never happen), the price will not dump to zero. Who will make their creation going to have no value after years?

[Febo]

do u think bitcoin could be a scam ? do you think bitcoin developper satoshi can decide to scam peoples
and create more supply then sell everything and dump the price to zero ?

All the protocol code is open course, so anyone can read it. There could be a intentional hidden inflationary bug or unintentional inflationary bug. But those bugs have to be hidden well since no one noticed them for so long. Guy that will found it could decide to fix it or could decide to abuse it. More time that passes and more eyes checks code, lees chances are there for such bug to exist.

[mu_enrico]

Everything is transparent in the Bitcoin world, including which address stores how many coins. So the event of Satoshi (if he is still alive) suddenly creates more coins without following consensus rules is impossible.