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Author Topic: Let's Say Bitcoin is scam  (Read 1783 times)
Polo7
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November 03, 2020, 12:55:32 PM
 #1

Let's just it is scam
How Long from Today we have left until Bitcoin will be done?
Let's say its scam we know today so how long we have time until it collpse?
Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!
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favebook
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November 03, 2020, 01:07:30 PM
 #2

Let's say it's not, because IT IS NOT.

Even if it was (IT IS NOT), you cannot decide or predict "when will it be done" nor "when will it collapse".

There is no worsT* case scenario. The only WORSE scenario is that people start overselling it and there is not enough demand for it which will just bring prices down. That can happen in extreme case if something much much better becomes widely popular.

Not sure how this "topic" is good for this forum.

EDIT:
Oh nvm, scratch this, I just checked your trust. There is no way I can explain it to ponzi promoter why is Bitcoin not a scam.
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November 03, 2020, 02:19:55 PM
 #3

There were many topics created about Bitcoin being a ponzi, being a scam, fraud and such.
People will always have something to say about anything which they don't understand. So if you know people who are considering this technology as one, then leave them be. We just cannot force everyone orto please them to appreciate the way we see Bitcoin and other cryptos because they won't get it. It is ofcourse, not. Those who are talking negatively have their own reasons and more likely one of those reasons are related to expectations which are not met. The idea of Bitcoin as an investment is easy profit in which we know that it is not. It would be okay to share your knowledge but forcing them will be nonsense if in the first place interest is already lacking.
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November 03, 2020, 02:23:44 PM
Merited by vapourminer (1)
 #4

If Bitcoin was a scam it would've imploded years ago already. But obviously, it isn't. Hence why it's still standing strong after receiving 11 years of name-calling from ignorant so called "critics".

Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!
The only thing I'm preparing for is hyperbitcoinization.

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November 03, 2020, 02:27:39 PM
 #5

Hahahaha .....ok i am follow your game  Grin

Just say if bitcoin scam, i think we have time to pull back all of assets in 6 months (soonest).
You can track back in 2018-2019 to get more information.

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November 03, 2020, 02:37:29 PM
 #6

Even in the worst case scenario, I don't think it will fall to the point of disappearing easily, as there will be a large group of fans who believe in bitcoin
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November 03, 2020, 02:47:24 PM
 #7

I can't understand why anyone would think that bitcoin is scam or ponzi. There are many other similar topic about it on this forum and any are all well answered by top member of the forum. There is no reason to think that Bitcoin is scam. If it was scam this could be exposed years ago bitcoin is also open source and anyone can see the the codes, so there is no chance of any backdoor on it. People talking about this case in social media just trying to bring FUD and make people to sell bitcoins so they can buy bitcoin for cheaper price themselves(smart people).  

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November 03, 2020, 02:52:25 PM
 #8

If Bitcoin was a scam then it has eventually turned legit with people already trusting it. Gold is nothing but a stone which is actually very abundant underneath the earth. The same goes for silver, pearls, diamonds, etc. They're nothing special really. They're stones and minerals. Maybe many of them are not that abundant but they're just stones and metals. In other words, nothing really special. But they eventually gained value because they're scarce and people became interested with them.

If Bitcoin were a scam, that definition has already ended before. Value is nothing but a mere agreement among people. If people suddenly agreed that a piece of paper or leaf is precious, it becomes so.

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November 03, 2020, 02:52:43 PM
 #9

Whether or not something is scam depends on it's usefulness and how much people have confidence on it.
Bitcoin at current time is a universally accepted value which have often been prioritized than the national currencies issued by some nations. People in nations with high inflation currency and low confidence has been choosing bitcoin for safeguarding the value of their money. For the Bitcoin is more legit than their fiat.

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November 03, 2020, 03:02:14 PM
 #10

Let's just it is scam
How Long from Today we have left until Bitcoin will be done?
Let's say its scam we know today so how long we have time until it collpse?
Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!
Sorry but never that will cross my mind about Bitcoin being scam,So i won't even support every single thoughts about this.
Bitcoin has been around for more than 10 years and talking about this as scam will bring bad image and obsession to those Anti bitcoin to have their chances bringing this down.
Even in the worst case scenario, I don't think it will fall to the point of disappearing easily, as there will be a large group of fans who believe in bitcoin
Disappearing will never come to reality and also not in a single thought.

Maybe Rise and Fall will happen from time to time but always there a recovery in each fall.

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November 03, 2020, 03:09:34 PM
 #11

I would ride this line of thinking that you have with bitcoin. If it really is a ponzi, then one sign of its impending collapse would be the disappearance or the massive sell-offs of the mining machines that people are using to create new bitcoins. Those ASIC miners have little versatility within them that repurposing them for other coins is not really viable. Next, you would see exchanges closing off and huge amounts of bitcoins being transferred or offloaded somewhere. Most of these exchanges would file for bankruptcy to get something off of their exit plan.

The market would be the last to know if this 'scam' is going to end. It will be started by institutions who built tens of millions of dollars worth of infrastructure around it, then the exchanges, then you, if all of it is already collapsing on its own since the giant pillars are already out in this game.

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November 03, 2020, 03:12:49 PM
 #12

Let's just it is scam
How Long from Today we have left until Bitcoin will be done?
Let's say its scam we know today so how long we have time until it collpse?
Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!
I can't imagine that it is a scam.

If it is, then you have to change some features of bitcoin that will make it a scam. Remove the miners, remove the transaction confirmation and it will only become a total transfer that requires nothing.

We've heard a lot of people telling that bitcoin is a scam. And even until now, there are still many of them that never stops telling that bitcoin is a scam and a useless asset. I think the question is for them, if you find any of them, start a discussion with your question.

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November 03, 2020, 03:26:47 PM
 #13

There were many topics created about Bitcoin being a ponzi, being a scam, fraud and such.
People will always have something to say about anything which they don't understand. So if you know people who are considering this technology as one, then leave them be. We just cannot force everyone orto please them to appreciate the way we see Bitcoin and other cryptos because they won't get it. It is ofcourse, not. Those who are talking negatively have their own reasons and more likely one of those reasons are related to expectations which are not met. The idea of Bitcoin as an investment is easy profit in which we know that it is not. It would be okay to share your knowledge but forcing them will be nonsense if in the first place interest is already lacking.

The only reason why bitcoin were frequently called as scam was due to uneducated people knowing no idea at all about bitcoin. There so much accusations about the legitimacy of bitcoin, does it really true or does it really profitable? Someone i know approach me and asked me about bitcoin, and i answer him as much as i know about bitcoin. There so much question from them but none of my words seem to prove to their questions. Well its okay i did already my part to share what i have know to them.

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ilovealtcoins
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November 03, 2020, 04:00:04 PM
 #14

If bitcoin is a scam then large businesses won't include Bitcoin in their portfolios this year and Paypal should ignore Bitcoin instead of including it in their payment systems.
Bitcoin was created during economic downturns and exists in the skepticism of both economists and technologists. Looking at Bitcoin's current value, I think that Bitcoin is not a scam because it is so valuable since it was born.

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BrewMaster
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November 03, 2020, 04:08:53 PM
 #15

since it seems like you care very much about hypothetical situations lets assume another thing, lets assume you are have sold the small amount of bitcoin you had and now for quite some time you have been very desperate to buy back but since price keeps going up now you can no longer afford to buy even half of what you sold.
how long would it take for you to panic buy in at a much higher price?

There is a FOMO brewing...
seoincorporation
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November 03, 2020, 04:31:26 PM
 #16

Everyone can say bitcoin is a scam, but as Linux Torvalds says "talk is cheap, show me the code"...

If you prove that bitcoin is a scam then it will instantly collapse, but since no one can prove it, then it will not happen. The code behind the coin is what proves it fairness. So, you can try if you want but is a game where you will lose.
Crptomagma
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November 03, 2020, 05:39:03 PM
 #17

Let's just it is scam

We can’t say it’s scam because Satoshi never address it as scam, so you don’t have the right to say it’s scam. Bitcoin is a cyber currency and can be used by scammers to commit havoc in the internet but doesn’t make it scam. There are millions of people worldwide that use bitcoin as their occupation, they trade with bitcoin and many other are fully into mining using the system to solve higher mathematics just to generate new bitcoin. Lots of energy is been put into during these exercise.

Bitcoin primarily is to be used for trading, investment, transactions etc and not to be used as a tool to scam. So with these understanding it’s wont be fair to say bitcoin is scam. Everyone needs to be properly educated about bitcoin.

Lanatsa
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November 03, 2020, 05:47:50 PM
 #18

Let's just it is scam
How Long from Today we have left until Bitcoin will be done?
Let's say its scam we know today so how long we have time until it collpse?
Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!

No one knows until it would happen but for sure it wont really be that lasting that long when it comes to crashing yet we know that characteristic of crypto
where it can crash in a shortest time as possible so its safe to presume that it would really happen on that way.

Well this is just a presumption but its hard to believe that Bitcoin would really go scam. On what reason? If this one will talk about some
network compromises or attacks then we might see this one but we know that wont happen with Btc.

Prepare for the worst? Ive been prepared already but bitcoin wont really be getting this big if people are
still hesitant.

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Harlot
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November 03, 2020, 06:05:37 PM
 #19

IMO by the definition of what a "scam" is Bitcoin will never fit it since it's not kind of a a deceptive scheme to fool a person for their money because it in itself has a value made purely by its supply and demand. If you are thinking it will all go down to 0 in some day I doubt it will ever happen as Bitcoin and the crypto industry is still growing and there is no signs that it is slowing down when the government is trying to adapt for it as it is in line with the digital age.
palle11
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November 03, 2020, 06:27:28 PM
 #20

Let's just it is scam
How Long from Today we have left until Bitcoin will be done?
Let's say its scam we know today so how long we have time until it collpse?
Just humble speculation Let's play out the worse case scenario hope for the best prepare for the worse!

Is always that you can make a choice must what you want to believe or take to heart. About bitcoin, not many will listen to any story that bitcoin can be scam or fraud because they all have heard that a long time and stood off without investing but now they are. For them, it is either you join or you stay outside. The worst case scenario is a fall in price called retracement and the good part is the bull that is riding at this time.

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