Is Bitcoin a scam

[GeorgeJohn]

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.

The people that will be making such a reference that bitcoin is a scam is people who does not value bitcoin and who is against bitcoin existence so from my understanding many people has worked with Bitcoin like holding bitcoin for period of time, investing in Bitcoin for long season many people has done that and they can testify of the goodness of Bitcoin... so people who is condemning Bitcoin saying that bitcoin is a scam it is left for them so there are people who is against Bitcoin and they are not ready to test the abilities of Bitcoin investment.

I remember first hearing about bitcoin back in 2011 or 2012 because I used to follow financial news. And most of the time they were calling bitcoin a scam because how it lost 90% of its value and to never invest in it.

Then someone I know mentioned bitcoin and I told him it’s a scam and I am not interested. This was maybe in late 2012 and I regret reading that original article. Because if I invested in 2012 I would of been very wealthy today, that is if I didn’t sell everything in 2013 when it pumped again.

that is another reason why we not need to believe anything that will see online because some bloggers I have a fake information so what they need is for you to click on their side and read and for them to make money from viewing their article, assuming you will invested when you know Bitcoin you will become a billionaire in Bitcoin, so you have also noticed bitcoin is all about and they know quite well that bitcoin is a sincere digital currency, if you want to compare and also condemn the attitude of Bitcoin since it existence by now nobody would have embraced Bitcoin because it is a scam, but bitcoin has proved them wrong the many people today is into bitcoin investment due to is the showing a good evidence and there's so many other people have tried to understand the systems of Bitcoin knowing that the price is not constant and it is based on the price increasing and decreasing what makes some people to think that the Bitcoin is a scam whereas bitcoin is on it own to help easy transaction of currencies across other nations.

Those people who thinks and said that Bitcoin is a scam must be living in a cave. If not, well, they are only trying to spread a FUD there and will take advantage of the situation by buying when the price dips a lot. Lastly, they can be the government or banks who thinks that Bitcoin is a big threat to their businesses.

There are still people who are aware of bitcoin and believes that it is legit. They can even use it but it's just that fiat is more legal on their country and let's admit it, it is much easier to use than Bitcoin. Another thing on why people won't use their Bitcoin daily like a fiat currency, is they think it's too valuable due to its properties (e.g. it has a very limited supply).

you will not actually blend some people who is into a bitcoin investment newly because I can see that what makes some people to think that bitcoin is a scam is when they have not understand the regulations of Bitcoin and when they invest in Bitcoin when the price is high they may think that that is the way the price may be going high and if the price happen to depreciate or reduce in the market they will conclude that Bitcoin is a scam based on they have not make a profit during the investment... so when looking at it will notice that no one who has invested in Bitcoin and make a profit in Bitcoin will you say that Bitcoin is a scam based on they have already benefited from it.

Whoever posted this quote bitcoin scam doesn't know what bitcoin is.

This is not necessarily true, there are also many people who are very knowledgeable about bitcoin but for some reason they don't like bitcoin and don't want people to like bitcoin so they spread lies about bitcoin. If we can learn bitcoin easily then so can others, don't look down on them just because they say wrong things about bitcoin. We need to find out what their real purpose is.

Just like many famous people in the past said bitcoin is a scam, bitcoin is only used for money laundering but so what, now they are one of the investors holding the majority of bitcoin. If I remember correctly, the CEOs of Blackrock and Microstrategy were also people who spoke ill of bitcoin in the past, and currently they are the ones who own the most bitcoin.

many people knows about Bitcoin but the thing is that some of them who are saying that bitcoin is a scam have not invested in Bitcoin before why they are condemning Bitcoin may be based on people have scammed them with their payment of Bitcoin and they may think that as they paid their scammers with Bitcoin that means bitcoin is a scam, so this is the Aspect people contradict bitcoin technology with a scam because you investing in Bitcoin or you purchasing the Bitcoin and left it in your wallet and the Bitcoin vanish from your wallet it is when you say a bitcoin is a scam but you purchase a bitcoin bitcoin is still there and continue to be there in your wallet, the only thing that will happen to it is that when the price decreases it will affect your Bitcoin in your wallet and investing to make a profit you'll be a targeting when the price is on dip and purchase and sell when the price is high..... in summary why some people are refuting the fact that bitcoin is a scam is because people's come them with Bitcoin and they make their payment of scam with bitcoin that is why the always emphasize that bitcoin is a scam while bitcoin is not a scam from my perspective.

[great12345]

Bitcoin is not a scam, it depend on the business involved, beside bitcoin is a legit business that connect world together as one price in the ecosystem.

[Blitzboy]

Whoever posted this quote bitcoin scam doesn't know what bitcoin is.

This is not necessarily true, there are also many people who are very knowledgeable about bitcoin but for some reason they don't like bitcoin and don't want people to like bitcoin so they spread lies about bitcoin. If we can learn bitcoin easily then so can others, don't look down on them just because they say wrong things about bitcoin. We need to find out what their real purpose is.

Just like many famous people in the past said bitcoin is a scam, bitcoin is only used for money laundering but so what, now they are one of the investors holding the majority of bitcoin. If I remember correctly, the CEOs of Blackrock and Microstrategy were also people who spoke ill of bitcoin in the past, and currently they are the ones who own the most bitcoin.

many people knows about Bitcoin but the thing is that some of them who are saying that bitcoin is a scam have not invested in Bitcoin before why they are condemning Bitcoin may be based on people have scammed them with their payment of Bitcoin and they may think that as they paid their scammers with Bitcoin that means bitcoin is a scam, so this is the Aspect people contradict bitcoin technology with a scam because you investing in Bitcoin or you purchasing the Bitcoin and left it in your wallet and the Bitcoin vanish from your wallet it is when you say a bitcoin is a scam but you purchase a bitcoin bitcoin is still there and continue to be there in your wallet, the only thing that will happen to it is that when the price decreases it will affect your Bitcoin in your wallet and investing to make a profit you'll be a targeting when the price is on dip and purchase and sell when the price is high..... in summary why some people are refuting the fact that bitcoin is a scam is because people's come them with Bitcoin and they make their payment of scam with bitcoin that is why the always emphasize that bitcoin is a scam while bitcoin is not a scam from my perspective.

Not Bitcoin, but how certain people utilize it. Like any great creation, it can be abused, but that doesnt make it bad. Bitcoin is a revolution in money thinking.

Skepticism is healthy. However, those who disregard Bitcoin are missing the point. Blockchain is one of the safest, most open technologies. Blaming Bitcoin for frauds is like blaming the internet for one lousy site. Bad actors, not tools, are the issue.

The smart money is learning. Learning about money and Bitcoin. Giving yourself digital power is the goal, not getting rich quick. Smart investors realize the risks. They know when to act and see Bitcoin's long term. Clearly, a sensible, informed investment is vital.

[strictly0nGod]

Of course Bitcoin possess the scam attribute. In the land of the living it is right to suit yourself however you understand the life. One saying Bitcoin is a scam is right cos of the nature of the market. Everyone cannot say good about Bitcoin, most people have experience the worse aspect of Bitcoin in various dimensions. But one thing I'm so sure is guaranteed in Bitcoin market is "profit" and "loss".

[Youngkhngdiddy]

Of course Bitcoin possess the scam attribute. In the land of the living it is right to suit yourself however you understand the life. One saying Bitcoin is a scam is right cos of the nature of the market. Everyone cannot say good about Bitcoin, most people have experience the worse aspect of Bitcoin in various dimensions. But one thing I'm so sure is guaranteed in Bitcoin market is "profit" and "loss".

No, Bitcoin isn't a scam, it's just a currency. It works pretty well for what it was designed to do. However I am not saying you can't lose money on it. If you don't believe in the technology then definitely don't invest more than you can afford. Bitcoin is not really about money or investment. The coins have value and people do invest in them. If you understood Bitcoin, you would not ask that question. Bitcoin is nothing more than a very secure digital currency. A cryptography based currency that is in my opinion less of a scam than any fiat currency that preceded it. People who says bitcoin is scam is because they lack the knowledge, When they can’t keep up with the fluctuating rates of bitcoin, they think that they are facing losses as bitcoin is a scam.
  However, ask yourself questions about the current monetary and financial system which is one of total opacity and which allows corrupt individuals to embezzle hundreds of billions of dollars every year. Is this unfair system for the people a scam? It's up to you to do your research and find the answer you consider to be right. I already have my own ideas on the matter. Additionally, not all places accept bitcoin as a means of payment, so one should be careful and investigate the place where the bitcoin will be used.

[Sexylizzy2813]

Of course Bitcoin possess the scam attribute. In the land of the living it is right to suit yourself however you understand the life. One saying Bitcoin is a scam is right cos of the nature of the market. Everyone cannot say good about Bitcoin, most people have experience the worse aspect of Bitcoin in various dimensions. But one thing I'm so sure is guaranteed in Bitcoin market is "profit" and "loss".

That's what many who think Bitcoin is a scam thinks, they only feel Bitcoin is all about making profit and they fail to understand that it is either you gain or you lose. "Some" of those who experience the positive side of Bitcoin will tell the novice the sweet part of Bitcoin investment and leave out the ugly side of it and I believe that in as much as it works for you it can't work for the next person the same way it went with you.
And I agree with you that not everyone can say good about Bitcoin especially those who fail in investing in Bitcoin and they are the type that send negative information or news about Bitcoin being a scam.

[Taskford]

The people who says that bitcoin is a scam you the people that does not know the fundamental of Bitcoin beside the government has been criticizing a bitcoin right from time but yet bitcoin is still in existence so people who does not know the welfare of Bitcoin is people that condemn Bitcoin so from my view of understanding Bitcoin it is quite right that bitcoin is something that has to do with technology and it might happen tomorrow what will supercedes bitcoin will come out, so therefore bitcoin is a technology that has no effect on government and its not a scam.

The general practice is that when they consider bitcoin as a pump and dump it will be considered a fraud, there is no real asset value based only on the speculation of certain people, yes that is the thinking of those who do not believe bitcoin let them be silent because after bitcoin continues to rise then it will silence the conversation.

There are still many people who view bitcoin negatively this is still very reasonable because it is not in line with the government that can control it, they prefer a definite investment even though I myself consider bitcoin to be definite and a good investment instrument than other assets or other property.

Only newbies are the ones who would really be calling Bitcoin as a scam and not into those who are already been here on this market for a while now or a couple of years already.It would really be just that normal that they would really be having that kind of impressions on the time that they've seen their portfolio become negative and not on the time that it is really that increasing or profiting. Due to lack of knowledge on how this market behaves then you would really be having that kind of approach and impressions that you are too positive but it turns out to be that negative and this is something on which you would really be having those kind of impressions and approach on how things do looks like. Bitcoin is a scam? Sooner or later you would be able to laugh into yourself on how foolish you are on believing such joke.Although it would really be better that you should be expecting not something with it. Invest on what you can afford to lose as always so that you wont really be stressing up yourself on the time that the price would really be dropping. How much more if the market would really be experiencing such drop then it would really be normal that you would really be ending up on those mixed emotions.

Maybe newbies are the one calling bitcoin as scam especially if their expectation towards earning easy richest will not meet. We see a lot of this and this people crying because they lose their money from their wrong decision to trade bitcoin at wrong time. If newbies could just do a good research on what they want to know about bitcoin for sure those expressions saying bitcoin will not came in their mouths. But they would correct their approach and say that bitcoin is good investment especially they could able to see the result of the efforts they exert for researching.

Of course Bitcoin possess the scam attribute. In the land of the living it is right to suit yourself however you understand the life. One saying Bitcoin is a scam is right cos of the nature of the market. Everyone cannot say good about Bitcoin, most people have experience the worse aspect of Bitcoin in various dimensions. But one thing I'm so sure is guaranteed in Bitcoin market is "profit" and "loss".

Scam attributes of what? Scammers just use that as currency and bitcoin name has been dragged then include it as part of scam. That's why research is important so people will not create a wrong impression on bitcoin since if you just think about bitcoin is all about profit and loss then maybe you cannot see its real potential or usage.

[Fiasem20]

People would always want to think whatever,they own their thoughts.The fact that their thoughts doesn't change the value of Bitcoin then Bitcoin still remains a store of value regardless their thoughts.Those people who think Bitcoin is a scam are those who have no knowledge about bitcoin, that's why it's good to know about something before concluding wrong speech.Bitcoin is one of the realest and legit decentralized digital currency that eliminates third parties in a transaction.Bitcoin enthusiast have been exploring and using Bitcoin regardless of people's opinions around us.No matter what people say Bitcoin is a scam it doesn't change my mindset because I've gone too far to believe shit.

[Oasisman]

Of course Bitcoin possess the scam attribute.

I am also curious on what do you mean by scam attributes that bitcoin has possessed?  I mean how can bitcoin possessed such bad element or attribute when there is no one controlling it, unlike all the alts created in the market they are all run by a people/company.
If anyone you know got scammed using bitcoin, well, it's not actually bitcoin itself scammed those people, It was only used as a tool to scam people just like how they got their bank account balance, fiat currency, e-wallet balance, and any other form currency was being scammed by criminal minded individuals.
As far as I know there are no elements or attributes about bitcoin to be considered as a scam.

[Plan well]

Well let them think whatever
It is what it is
Bitcoin can never be a scam, tell them to make good research about Bitcoin

[ancafe]

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 and depending only on fiat currencies 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.

You will be cheated just because you don't know any basics when involved in investing and the fraud occurs because you don't understand what you are doing. Fraud involves individuals and it occurs because of your own mistakes in not being able to assess the level of truth that is produced. Bitcoin does not have the ability to deceive if it is not driven by people, that means fraud does not involve Bitcoin implicitly, but rather people who try to use Bitcoin to deceive you, me and other people.

You and anyone else must learn how to recognize the concept of fraud that people carry out and their habits are influenced by the desire to gain big profits in the wrong way. Never fall for the promises of big returns that people offer because you can try investing or trading on your own.

[gunungkembar]

Of course Bitcoin possess the scam attribute.

I am also curious on what do you mean by scam attributes that bitcoin has possessed?  I mean how can bitcoin possessed such bad element or attribute when there is no one controlling it, unlike all the alts created in the market they are all run by a people/company.
If anyone you know got scammed using bitcoin, well, it's not actually bitcoin itself scammed those people, It was only used as a tool to scam people just like how they got their bank account balance, fiat currency, e-wallet balance, and any other form currency was being scammed by criminal minded individuals.
As far as I know there are no elements or attributes about bitcoin to be considered as a scam.

The circulation of bitcoin cannot be controlled by anything, but we should never forget that the price of bitcoin on the market can be controlled by people who have a lot of money. Now more and more whales are trying to come in and move market prices according to their wishes. Meanwhile, for scams, we have to provide clear evidence of what the OP means. That way we can conclude how OP says Bitcoin is a scam. If it's just paying taxes then I see only paying transaction fees to make bitcoin transfers, Nothing else.

[avp2306]

Well let them think whatever
It is what it is
Bitcoin can never be a scam, tell them to make good research about Bitcoin

For sure they know that since for so many years bitcoin exist it proves for so many times that what those negative people think especially for bitcoin haters is not true. But they continue to ignore the greatness made by bitcoin since they have their own personal agenda since maybe they are promoting something and they need to disturb some good happening to bitcoin so they can gather attention then maybe promote what they think best or beneficial for those people. So instead of giving them an advice which for sure they would never follow maybe better ignore this type of persons and just focus on those people trying to explore some opportunities they can get from bitcoin since they are more worth to spend our time to discuss anything about bitcoin.

[kro55]

Well let them think whatever
It is what it is
Bitcoin can never be a scam, tell them to make good research about Bitcoin

For sure they know that since for so many years bitcoin exist it proves for so many times that what those negative people think especially for bitcoin haters is not true. But they continue to ignore the greatness made by bitcoin since they have their own personal agenda since maybe they are promoting something and they need to disturb some good happening to bitcoin so they can gather attention then maybe promote what they think best or beneficial for those people. So instead of giving them an advice which for sure they would never follow maybe better ignore this type of persons and just focus on those people trying to explore some opportunities they can get from bitcoin since they are more worth to spend our time to discuss anything about bitcoin.

I wonder why many of us try to convince or spend so much time arguing with those who call bitcoin a scam. How does that benefit us?

Personally, I would ignore or even delete them from my friends list if they were so stubborn about bitcoin being a scam. Trying to argue with them is just a waste of our time, even if we convince them, we won't get any benefit from it. So I will choose to ignore them and focus on my investment. Besides, I thought, if only I could change my life thanks to bitcoin, that would be the most convincing explanation for them. And if they are still stubborn when they see my results, it proves that they are just jealous of me and do not have good intentions towards me.

[Su-asa]

People would always want to think whatever,they own their thoughts.The fact that their thoughts doesn't change the value of Bitcoin then Bitcoin still remains a store of value regardless their thoughts.Those people who think Bitcoin is a scam are those who have no knowledge about bitcoin, that's why it's good to know about something before concluding wrong speech.Bitcoin is one of the realest and legit decentralized digital currency that eliminates third parties in a transaction.Bitcoin enthusiast have been exploring and using Bitcoin regardless of people's opinions around us.No matter what people say Bitcoin is a scam it doesn't change my mindset because I've gone too far to believe shit.

To cut long story short, bitcoin is not a scam and it will never be because no one controls it, anything anyone can control is what we can call a scam, but as is uncontrollable it's not a scam. Everyone can say what they like because there is freedom of speech but one still have to be mindful of what he's saying so he don't get into trouble. Paying tax to the governments is what is scam but slot of people don't say it because they are scammed of the government. The government is scared of Bitcoin that's why they don't want people to use it, and what surprise me most is that the government knows about more than we do but they are still scared because of they allows it many people will pay use the banks anymore.

[Adams0001]

There will be always two sides of a story, but fortunately for us, we are in the side of BTC and so we have proven it already that it is not a scam. And just let those individuals who think that it is scam. And don't make it hard for yourself, this kind of individuals have their mindset close, maybe they are old and traditional investors or really just anti-bitcoin for that matter. It's not our lost if they don't believed in it. The most important for us is that it give us so many advantage, like economic and financial freedom. And now that we are in a bull run, this kind of attacks are going to continue so better watch out for it.  

That is simply the truth; let people continue to say bitcoin scam we know it is genuine, let them continue to say negative things about it. I am confident that people who say bitcoin is a scam either lack knowledge about it or are simply uninterested in online investing, and they will try to discourage others from doing so. Anyone who says bitcoin is bad, I simply look at them and smile because those people will never try to learn because before you say something is bad, you must first conduct research on it before you can say it is a scam. If you ask them why bitcoin is a scam, they cannot provide rational explanations. they think all online is scam but i don't blame them they don't have achievement on bitcoin because not any investment or business favour everybody some you succeed some you fail. and my main point someone should not call anything scam if he don't have a confirmation or prove that he can give to people so that they will beleave what is saying.

[MiF]

We have different sight about bitcoin, and if there are people who think that bitcoin is scam then let them think it that way, because only people who are lack of understanding will believe that bitcoin is a scam, bitcoin is not scam but some people used bitcoin name to scam others, that is why sometimes people will think that bitcoin is also a scam but its not. They are wrong and if they only new what bitcoin is maybe they will not think that bitcoin is a scam.

[bSpend]

*Snip

Thank you for such a wonderful thread and information you shared, with all that Bitcoin have achieved since 2009 it came into existence, single handedly creating an entire new type of money system we all know as the cryptocurrency ecosystem today, I think it's absolutely foolishness for anyone to still consider bitcoin as a scam even at this stage.

But then on the other hand, I might not want to blame those who consider bitcoin as a scam, they possibly have never heard of bitcoin or know what it really all about, for this type of people, I think it's alright for them to call bitcoin a scam, but it will be foolishness and ignorance on them if they fail to really research what bitcoin is, or if after researching, they still see bitcoin as a scam, then it's completely their loss and I have no pity for such people.

[Lamkuthang]

Bitcoin is not a scam, it depend on the business involved, beside bitcoin is a legit business that connect world together as one price in the ecosystem.

Yes. friend. If it is a scam, BTC has not been heard from until now and the fact is that BTC is now the main concern of the world's economies and investors and just waiting for their action in giving a positive response to be able to be mass adopted in our daily lives in the future.

Maybe when many are still hesitant and this is not too interesting for those who are skeptics but I have a hunch and this makes me smile they will also go to BTC eventually too. Yes. Financial technology continues to move forward instead of backward.

[bitzizzix]

Well let them think whatever
It is what it is
Bitcoin can never be a scam, tell them to make good research about Bitcoin

For sure they know that since for so many years bitcoin exist it proves for so many times that what those negative people think especially for bitcoin haters is not true. But they continue to ignore the greatness made by bitcoin since they have their own personal agenda since maybe they are promoting something and they need to disturb some good happening to bitcoin so they can gather attention then maybe promote what they think best or beneficial for those people. So instead of giving them an advice which for sure they would never follow maybe better ignore this type of persons and just focus on those people trying to explore some opportunities they can get from bitcoin since they are more worth to spend our time to discuss anything about bitcoin.

I wonder why many of us try to convince or spend so much time arguing with those who call bitcoin a scam. How does that benefit us?

Personally, I would ignore or even delete them from my friends list if they were so stubborn about bitcoin being a scam. Trying to argue with them is just a waste of our time, even if we convince them, we won't get any benefit from it. So I will choose to ignore them and focus on my investment. Besides, I thought, if only I could change my life thanks to bitcoin, that would be the most convincing explanation for them. And if they are still stubborn when they see my results, it proves that they are just jealous of me and do not have good intentions towards me.

Ignoring it is the right and safe choice because there is no point in justifying that Bitcoin is not a scam to people who do not understand or have any knowledge about Bitcoin. And the most important thing is that we know that Bitcoin is not a fraud for us, because what we feel or experience is just the opposite. Bitcoin is heaven for us because Bitcoin can change our lives much better than before, especially in the field of finance and also freedom.
And besides, nothing is perfect, even though we think Bitcoin is perfect, there are definitely some people who hate it and even consider it a scam or other negative things. So just ignore them, and there will come a time when they will regret what they have done after people who use or own Bitcoin rise to high levels, they only started after the price of Bitcoin was very expensive and that must be painful.