Is Bitcoin a scam

[348Judah]

Only those that have no idea about bitcoin will be thinking about all manners of things concerning bitcoin because they have failed to learn or developed interest in learning on new things, in digital currency and cryptocurrency to be precise, bitcoin has been the only most recognized digital and acceptable currency of making payments, this means that people value less the use of altcoins because they don't want to risk anything that has to do with them, instead chose bitcoin which everyone has the reliability of it use and consistency.

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[Nrcewker]

FIAT are controlled by the government and the banks. If you keep your money in the form of FIAT, then you are not completely owning it. The government or banks can anytime freeze your money by stating any laws and you are bound to follow that. Whereas in Bitcoins, thanks to its decentralised nature, you will only have the full access to your hard earned money. So if you really think Bitcoins are scam, then you need to do proper research.

[AmaGold70]

Is Bitcoin a scam

It's  so funny  that at this stage and century , some people still believe that Bitcoin  is a scam after it has proven itself  over and over  which has led to it's massive adoption.

If anyone still thinks Bitcoin  is a scam then he or she is a slave to fiat system and believe  it or not Fiat is brain rot.
There are so many things these peoples  must understand  to know why they are really  a slave to the fiat system.

Decentralized  nature
This is the major difference between  fiat and the bitcoin,  there's  no influence or control from authority  like government , no manipulation in transactions  or values everything done in bitcoin is transparency  as full  nodes could be run by anyone,anywhere anytime without hidderance  and this a way for showing every transaction on blockchain making double-spend bitcoins impossible.

In fiat everyone is subjected to the power of governmentand its agencies,  the supply ,circulation are always influenced by their Monetary  policies.

Supply
Bitcoin  has a specific fixed supply of 21M coin which will ensure protection against  every  from of devaluation , beside there's  a smaller  unit that can be used in btc(sats) incase of any form of scarcity and scarcity brings  about increase in price , bitcoin price is also determined by the demand and supply in the market.

On the other hand, fiat currencies can be printed at will by the government  and the supply will still be determined  by that single entity  which is still the government.

You know what the biggest  scam is :



Bitcoin  was and will never be a scam

**CoinL

Sure Bitcoin isn't a scam but would you still say the same thing of you loose 95% of your investments if Bitcoin falls down in it's price? Bitcoin as a gamble, you either loose or you fail. You win if you apply the right strategy, you loose if you get too greedy for quick wealth. I have seen someone that constantly say that Bitcoin is a scam because he lost 95% of his investments. He was greedy and he lost.

[Ayers]

Until now, there are still some of my friends who still don't believe in bitcoin, they call it gambling, ponzi... they still believe that one day it will collapse. But I think it's because they missed it, and I'm getting better off than them because of bitcoin, and they're just jealous of me so they continue to have those negative thoughts. But no matter what they or anyone else says about bitcoin, I don't care because I'm busy enjoying the wonderful benefits that bitcoin brings  . In my opinion, we should stop worrying about those meaningless things, they only waste our time.

No matter what intentions they have for us when trying to fight against bitcoin, I am sure of one thing, they will never help us when we are in trouble, but bitcoin will definitely be an opportunity for us to overcome difficulties. So I don't want to waste my time with those people.

[headingnorth]

Bitcoin spot ETF is now traded on the New York Stock Exchange and NASDAQ just like Amazon, Google and Apple stock are traded.

If bitcoin was a scam there is no way the government and SEC would allow it to trade on the biggest stock exchanges in the world alongside the most legit companies in the world.  
Point out this fact to anyone who tells you bitcoin is a scam and it should shut them up real quick.

[btc78]

Honestly I do not understand those who think that bitcoin is a scam. Do they think that our money just grows out of thin air? No it does not and there is a perfectly clear explanation as to how it grows. They just do not want to listen and honestly if they do not want to hear it then it’s better to just not talk to them at all.

There is no point in talking to someone with closed minds. If they are ready to understand everything then we can explain but otherwise it’s moot and useless.

[Lucius]

If you buy bitcoin right now at $66.7k and then you see it going down to $15k, how would you feel? For sure you will feel scammed because your investment loses 75% of its value. Bitcoin is not a scam, but is a high-risk investment and just like it can go up to the moon, it can crash hard, and not everyone can take that risk. So, bitcoin is not for all.
And even if Bitcoin is not a scam by itself, there are a lot of scams involving Bitcoin, and that only brings bad reputation to the coin.

I agree here, Bitcoin is not for everyone just like trading on Forex or stock exchanges is not for everyone - people lose money constantly on various investments, but we will hardly hear that they will accuse a well-known (influential) company of being a scam because their shares lost overnight 20% or more in value. As in real life, people fiercely attack those who cannot or do not want to defend themselves, and given that Bitcoin is decentralized, it is very easy to say that it is a scam and that it consumes electricity like some country, and that we will remain in the dark because of Bitcoin mining.

Of course, scammers use Bitcoin to the limit, but you should never blame the tool, but the person who uses that tool. Besides, for a scam to succeed, there is always a need for a naive victim, and the fact is that we have millions of people who behave just like that thanks to governments that do not provide for their education.

[kryptqnick]

Sometimes people believe that Bitcoin is a scam simply out of ignorance, because of confusing it with something else or listening to some misinformation. That can hypothetically be fixed pretty easily by sharing knowledge. But I also think that sometimes people are mistaken like that because they lack skills of analytic thinking. They hear something about crypto scams and associate cryptos with Bitcoin, reaching a conclusion that Bitcoin is a scam. Or they hear about scams, in which victims lost their BTC, so they associate those scams with a conclusion that Bitcoin is a scam. This is just lack of proper analysis or how stealing Bitcoin is different from Bitcoin itself, how cryptos don't equal Bitcoin, etc.

As for the op's words about decentralization and a fixed supply of Bitcoin, I agree with that, although I wouldn't go as far as to say that the traditional fiat and taxing systems are the real scam.

[michellee]

Just let it go if there are still people who think Bitcoin is a scam. They are the ones who don't want to try to learn what Bitcoin is. They will remain like that even if someone tries to convince them that Bitcoin is not a scam.

Those who have benefited from Bitcoin will change their opinions about Bitcoin. They will try to open their minds to Bitcoin and learn more about it. These people can see things from a different perspective, especially when they can make profits from Bitcoin.

So don't be surprised if we still see people saying that Bitcoin is a scam. We don't need to respond to what they say and just smile. These people can't and won't try to learn what Bitcoin is really about. We should focus on accumulating Bitcoins rather than arguing with them.

[Farhan99]

I think People's opinions about Bitcoin being a scam don't affect its reliability. Bitcoin has already proven its worth as a decentralized currency. Bitcoin is not solely for profit but its main purpose was designed to revolutionize payment systems. Investment in Bitcoin or any currency its carries risk. That is why understanding the bitcoin volatility is very important for investors to success. acknowledge the risks involved in Bitcoin investment is very crucial for investors as price fluctuations in the last few weeks Bitcoin price broke All time 73,000$  high and then goes down to 60,000$ votality of Bitcoin can lead to significant losses for investors. I also think those people who understand Bitcoin as a scam aren't aware potential of Bitcoin or someone miss guide them.

[reagansimms]

Is Bitcoin a scam

It's  so funny  that at this stage and century , some people still believe that Bitcoin  is a scam after it has proven itself  over and over  which has led to it's massive adoption.

If anyone still thinks Bitcoin  is a scam then he or she is a slave to fiat system and believe  it or not Fiat is brain rot.
There are so many things these peoples  must understand  to know why they are really  a slave to the fiat system.

It is very difficult to convince flies that flowers are much more beautiful than rubbish. It's useless to advise stupid people who have been enslaved by the fiat system, they still won't believe Bitcoin is much more profitable than Fiat. Educating the advantages of Bitcoin to people like this will get a negative reaction, they will be offended by the thought that we have tried to lead them down the path to a scam. But if they are wiser in receiving advice and are able to digest every advice that comes to them, they will look for justification and will reflect because they realize that the advice is useful for them.

Selfish people like this will continue to be trapped in a system that ensnares them, Bitcoin is freedom, everyone who has Bitcoin is free to do whatever they want with the assets they own. People like this should lower their ego a little by reading the history of bitcoin including the time Laszlo Hanyecz confirmed that he had successfully traded 10,000 bitcoins for two pizza https://bitcointalk.org/index.php?topic=137.msg1195#msg1195.

If you convert 10,000 bitcoins into US dollars according to the current Bitcoin market value, 10,000 bitcoins are currently at $670,580,000 (please correct if the conversion value is wrong), if Laszlo Hanyecz saved 10,000 to date, he would have managed to earn money amounting to $670,580,000, just imagine how many pizzas could be bought at the current price Bitcoin is trading at. The unprecedented increase in prices has encouraged many investors to save their money in Bitcoin, so it is very difficult for common sense to accept that anyone still says Bitcoin is a scam.

[Ptb73]

One day people will realize what a trap they are in. Bitcoin is a solution to the problem, not a scam.

[LoyceMobile]

If you think about it: fiat money has more characteristics of a scam.

[dzungmobile]

I agree here, Bitcoin is not for everyone just like trading on Forex or stock exchanges is not for everyone - people lose money constantly on various investments, but we will hardly hear that they will accuse a well-known (influential) company of being a scam because their shares lost overnight 20% or more in value. As in real life, people fiercely attack those who cannot or do not want to defend themselves, and given that Bitcoin is decentralized, it is very easy to say that it is a scam and that it consumes electricity like some country, and that we will remain in the dark because of Bitcoin mining.

Because they did not do their homework, research before investing.
They are sensitive and vulnerable to Bitcoin FUD and if media says something bad with Bitcoin, they will blame their losses to Bitcoin as a fraud.

If they realize their responsibility with their own capital and investment or  trading, they will not blame any loss on Bitcoin. It is quite strong evidence that with time, since 2009, Bitcoin price goes up.

https://charts.bitbo.io/yearly-candles/

If we look at yearly min price, the trend is upward and very bullish.

Fact sheet for bitcoin price (daily low, high, close price over years)

Yearly low price of bitcoin:

Code:

     +---------------------------------+
     | year     min_l   percent_change |
     |---------------------------------|
  1. | 2013     65.53                . |
  2. | 2014     289.3           341.48 |
  3. | 2015    171.51           -40.72 |
  4. | 2016    354.91           106.93 |
  5. | 2017    755.76           112.94 |
     |---------------------------------|
  6. | 2018    3191.3           322.26 |
  7. | 2019   3391.02             6.26 |
  8. | 2020   4106.98            21.11 |
     +---------------------------------+

Of course, scammers use Bitcoin to the limit, but you should never blame the tool, but the person who uses that tool. Besides, for a scam to succeed, there is always a need for a naive victim, and the fact is that we have millions of people who behave just like that thanks to governments that do not provide for their education.

Bitcoin was not created for scammers but scammers can use Bitcoin as one of their tools to scam people. Like a saying, a criminal use a knife to kill people but a knife or company produces the knife is not the cause.

[harapan]

It's  so funny  that at this stage and century , some people still believe that Bitcoin  is a scam after it has proven itself  over and over  which has led to it's massive adoption.

It is now no longer just funny but now it is just a pitiable situation because anyone having that kind of believe is clearly outdated with information and is clearly showing an actual absence in the ability to  check and verify whatever they know from the internet.

Do not stress yourself about this sort of individuals because if you have tried talking to them and they shown signs of belligerence you better let them be and focus on your own investment which is more important.

Personally,I think bitcoin remains a scam to whoever see's or thinks bitcoin is a scam.Even in this 21st century if the average adult in the society doesn't know about bitcoin's existence as a digital currency and equally thinks bitcoin is a scam,that person should indulge in a self improvement session;like sit down and have a serious conversation with yourself because its actually simple and easy to embrace the life changing opportunities like bitcoin that exists significantly.

Even scammers refer to bitcoin as a scam,if they don't agree with bitcoin system or they don't like bitcoin that's their headache.Why now recruiting a wide range of people within their reach to ascertain the same mentality they have against bitcoin.
Bitcoin is not for the weak and precarious individuals!!

[khiholangkang]

If you don't understand why JP Morgan Chase Bank CEO Jamie Dimon calls bitcoin a scam relentlessly, or why Warren Buffet calls bitcoin absolutely worthless..then make sure you find out why.  These two men are are wildly successful, but shrude cut throat businessmen and while everyone with a brain knows Jamie Dimon is human scum who'd steal a dollar from a starving puppy in line for a bone, many think old sweet man Warren is too.  Look deeper.  These two call bitcoin a scam for a reason, and it's because it isn't one.

If I'm not mistaken JP Morgan invested in a bank that owns MSTR shares and we know that MSTR is closely related to BItcoin, also with Warrem Buffet who invested in an entity that took part in the development of cryptocurrencies, this is natural to question why they are so, I think they actually have thoughts about bitcoin just not as brave as Larry Fink.
As a successful person in the world of investment I quite doubt that they do not jump on bitcoin, the logic is when bitcoin makes a lot of money and faster than a company stock, so my other thought is that they also buy bitcoin with other hands or anonymously because of a high sense of ego before saying that bitcoin is a SCAM for them. IMO

[DubemIfedigbo001]

Let them think what they want to; if they think Bitcoin is a scam, it doesn't make any difference for Bitcoin. Bitcoin has already proven what's in it; those who want to call it a it a Bitcoin scam don't really know how a decentralised currency works. Bitcoin wasn't created to make us rich; it was a p2p decentralised cryptocurrency to make a solution for a borderless payment system without a third party. How would Bitcoin be scammed when it wasn't controlled by anyone? Due to a lack of proper knowledge, a few people think Bitcoin is a is a scam. We aren't concerned about it.

Well spoken bro, bitcoin has passed the stage of trying to impress or convince someone of its numerous importance or authenticity. Whoever is still in doubt should visit the history books, attest to its longevity, the hurdles it has surmounted and try relating to any scam projects that remains this consistent. Bitcoin is king and  cannot be rebate or measured with any of its competitors presently, maybe something promising might come up in the future, who knows?, but it will surely have a mountain to climb competing with bitcoin.

We're in a continious advancement stage whereby the  goal is to gear towards as much ma adoption as possible and in passing ways to the people and so far there are promising developments such as the bitcoin ETFs where people buy shares from portfolios of bitcoin as stocks. Or are they trying to convince me that the government of El Salvador its scamming his people?, of course not. He took a decision that will remain profitable and present him as a hero in the nearest future

Bitcoin is well above the marks and traces of being a scam project. So while they still call it a scam, lets make the best out of it with regular involvements and continue holdings. The billionaire journey is continuous for all the faithful.

[Bitco55]

You see, not everyone would accept something new. A lot of people are bent on remaining with the old and never changing or accepting change. So, not everyone would accept Bitcoin. A lot of people, even though they know the fiat currency has the probability of failing, would still put their trust in it because the fiat currency has failed and picked itself from the ground many times. So, I can't really blame anyone

And another reason would be the risk that is attached to Bitcoin. People would call what is a scam, a scam. There's a high probability that their experience with Bitcoin was a terrible loss or maybe they've heard of stories from and about someone who invested their savings in Bitcoin and lost it all. You don't actually expect such a person to believe in Bitcoin anymore. Of course, they already know it as scam, and as such it shall be addressed.

The best thing is to leave people with their different opinions and perspectives. Do you, and follow what you want to.

[Lucius]

If you think about it: fiat money has more characteristics of a scam.

There is no doubt about that - but fiat is a scam sponsored by nation states, and few people in real life will dare to say that publicly because those same states have mechanisms to make life miserable for anyone who dares to question such things. If we take a closer look at what is actually the real agenda behind the repetition of the expression "Bitcoin is a scam", then it is quite clearly visible that "they" are saying this for only one reason, and that is the fear of losing influence over people, which is mostly carried out precisely through fiat currencies.

This is why some countries like Turkey or Thailand (maybe others) do not ban Bitcoin as an investment, but they strictly forbid using it as a currency. Of course, I didn't mention China, which banned it almost completely, or India, which does everything to discourage its citizens from using it.

[Muchiratsky]

You see, not everyone would accept something new. A lot of people are bent on remaining with the old and never changing or accepting change. So, not everyone would accept Bitcoin. A lot of people, even though they know the fiat currency has the probability of failing, would still put their trust in it because the fiat currency has failed and picked itself from the ground many times. So, I can't really blame anyone

And another reason would be the risk that is attached to Bitcoin. People would call what is a scam, a scam. There's a high probability that their experience with Bitcoin was a terrible loss or maybe they've heard of stories from and about someone who invested their savings in Bitcoin and lost it all. You don't actually expect such a person to believe in Bitcoin anymore. Of course, they already know it as scam, and as such it shall be addressed.

The best thing is to leave people with their different opinions and perspectives. Do you, and follow what you want to.

Well people lose money in any kind of investment. And if they lose money, they tag it as a scam. In many cases, it only becomes a scam because people don't know how to handle or run their investments. Bitcoin, Etherium, Ripple, and other older coins are already established cryptocurrencies and they have people who made money and are making money out of them. So even though there are those seeing BTC as a scam, it's obvious that it isn't anymore at this point. It's just a little too expensive now for those who are just planning to buy BTC if you're not aiming for a long hold.