Bitcoin Has Never Been A Scam.

[Venik]

Well if you ask anyone who says bitcoin is a scam, how bitcoin works, they have absolutely no response because they have absolutely no clue how it actually works.  I remember when people use to say this to me all the time back in the 2015/16/17 days.  My first question to them would always be "Okay, do you know what the blockchain is, or can you explain how it works"..never once was any single one of these persons able to do so.  So, there's really just a lot of noise out there.

Not really. I have met some people who say Bitcoin is a scam and they do know how it works. They know even more than the average BTT user. They know the hashing work in building blocks, the know the nature of the code, stuff like that, but they started out calling BTC a scam because they thought the founder was maybe honeypotting for the CIA or similar

Lol, that's interesting, I've never faced people like that. But what difference does it even make who Satoshi is? BTC works without him, it's and open book.

[rodskee]

The transparency of Bitcoin transactions, due to the blockchain, ensures that all movements of the currency are unique and verifiable, reducing the risk of fraud in systems. Regulatory bodies and financial institutions are increasingly encouraging and merging Bitcoin into their systems, indicating how reliable  and potential for legitimate use in the business .

Bitcoin is reliable for easy transaction, it is a system way of saving, it is transparent in trading.
Due to its unique financial stability companies are happy to use it in the legitimate ecosystem due to its legal rights in the country.

Only people with little to no knowledge about it will think Bitcoin is fraud and scam. Bitcoin is just a tool that scammers use to trick innocent people. It is a tool we can utilize to make gains. Financial institutions, billionaires and professional investors even trusted Bitcoin as one of their asset. If Bitcoin is a scam then why it is one of the most valuable asset to date?

actually those people that tries to call bitcoin is scam are either that they are those who lose in investment
because of their own stupidity or others that trying to put the price down for their benefits having cheaper investments.
this have happened many times before that even whales are trying to make people worry and sell so the value will drop
and they can purchase in very cheap capital.

actually this is what it says completely .

Bitcoin is a digital currency that operates on a decentralized network of computers. It is not a scam in itself, but it is often used by scammers and cybercriminals to lure people into fraudulent schemes and attacks. Bitcoin and cryptocurrency-related scams and cyberattacks have increased significantly in the past year1. Scammers may offer to help you invest in cryptocurrency, guarantee high returns, or impersonate legitimate companies21. If you send them money or crypto, you will likely lose it and not get it back2.

https://www.bing.com/search?q=bitcoin+is+scam&cvid=248d6ffa5caf4bb5836be02001150708&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIGCAEQABhAMgYIAhAAGEAyBggDEAAYQDIGCAQQABhAMgYIBRAAGEAyBggGEAAYQDIGCAcQABhAMgYICBAAGEDSAQgyOTU5ajBqMagCALACAA&FORM=ANAB01&PC=U531

if we are aware of what we are entering then we knew this is not a scam.
 

[Samlucky O]

The transparency of Bitcoin transactions, due to the blockchain, ensures that all movements of the currency are unique and verifiable, reducing the risk of fraud in systems. Regulatory bodies and financial institutions are increasingly encouraging and merging Bitcoin into their systems, indicating how reliable  and potential for legitimate use in the business .

It's only a transparent financial institutions or regulatory system that can see the  potential and  legitimacy of bitcoin and use it for their business. Those currupt financial institutions find it difficult to use because it's difficult for them to do any illegal activity because everything is transparent in the blockchain. In other words most of those financial institutions that use bitcoin, are transparent and don't want to involve a third party in there activities because whatever they do is right in the blockchain with the transaction ID. So you would never come to them to lay complain hence the transaction has been confirmed and landed in the right wallet and also has been confirmed by the nodes in the blockchain.

Due to its unique financial stability companies are happy to use it in the legitimate ecosystem due to its legal rights in the country.

Bitcoin is not legal in every country. There are some reasons why company like to use bitcoin as a means of transaction, but I doubt that it is due to its legal acceptance. What about place that are not legally accepted?
The reasons I see companies may like the use of bitcoin is that:
1. it is fast easy and reliable
2. It is transparent in blockchain
3. It can be sent to anybody anywhere across the world without looking for bank account.
4 large funds questionable by bank for the reason of withdrawal  can be sent at ease with bitcoin without the interference of bank.
5 companies find bitcoin interesting because of it volatility. When clients send money to the company wallet,  it may increase and also decrease in value, but more advantageous when they receive btc  to their wallet if bitcoin is low and there fund increases when bitcoin is high.

The only problem people don like using bitcoin for transactions is due to the transaction fee that is high.

[HajiBagi]

Indeed, we know the benefits of Bitcoin and how it can be used in mainstream to reduce corruption by making the transaction public about spending of government as it will give a clear-cut details of how the funds are utilizes but governments will never let this happen as they are corrupt and I am not sure if you are talking about one particular country because I don't see any signs of legalising it as they are hell bent on opposing it.

Those who believe in Bitcoin are the ones who will believe it, bitcoin can never be a scam unless you don’t understand, the reason why some people can never trust Bitcoin is that they don’t know anything about it and they don’t want to believe in it, anything that involves in the scam will never progress and see the way bitcoin grows and keep growing to the extent that the population of people who invest in it is getting higher every day, there are some countries who the reason why they don’t want to accept bitcoin easily and there are also some countries who don’t have any reason why they do not want to believe in it.

Some country's governments are corrupt and they will keep on pretending like they are about to do something good but not knowing that they are about to make things worse, I didn’t say that it is bad for a country to not accept Bitcoin but it is not a good thing to stop people who have interest in it because if you look at some countries the government is even planning to ban anything that concerns cryptocurrency and that will affect people who are investing in bitcoin and other coins.

[Dzwaafu11]

People misunderstood the technology, and they feel Bitcoin is a scam. Which if they get to understand it, they would find out that it is the people who uses Bitcoin to scam others of their hard-earned money. Since a verified wallet can have accept huge sum of money in Bitcoin online fraudsters are using it as a means to embezzle and scam huge sum of money.

I think so many people are using Bitcoin for the wrong reason. Most are using it as a safety net to fight inflation and store value. While some are thinking investing in it would make them rich overnight. The reason for the existence of Bitcoin is written in the whitepaper it shouldn't be modified when it's not updated on the official website.

Yeah. There are some people who use bitcoin as a means to receive money they get from fraud, which is what makes many people think bitcoin is a scam. I have seen many youths who are not bitcoin investors; they are not doing anything related to bitcoin, but they claim to be bitcoin investors and collect money from people telling them they will invest for them, which is too bad and seriously tarnishes the bitcoin image.

 But I later realise that they scam people who do not know anything about bitcoin investment, and they are not ready to learn about it because those guys have already convinced them and they have trusted them. And I believe this is also affecting the adoption of crypto currencies because some people have already ruined the real process of how they work.

[God bless u]

Those who believes in such way are either lacking knowledge of this industry or just trolling. This impression is due to people who invested with high hopes simply because there are actual people who won big amount. Without any investment plan, they will engage and embrace the risk from market price volatility. Once they suffered from big loss, they will panic and sell everything in beliefs of cutting the loss. However, what's best is to just continue. This happens simply because some investors are only after smooth winning outcomes and without also considering the rough journey. Bitcoin has never been a scam. It is a highly profitable asset IF you'd know how things really work in this blockchain.

Tip of advice; it would save your time and effort if you will have your readings first before making any unsolicited comments to something you don't know that much about.

Yeah you're right but there is nothing in this world that will give you money without any skills or efforts. Same is the case with BTC, it will give you profits but only if you have certain skills and you know the right way and the right time to invest.

This officially comes from certain skillset that you acquire from learing crypto.

[coolcoinz]

Not really. I have met some people who say Bitcoin is a scam and they do know how it works. They know even more than the average BTT user. They know the hashing work in building blocks, the know the nature of the code, stuff like that, but they started out calling BTC a scam because they thought the founder was maybe honeypotting for the CIA or similar

How is he honeypotting for CIA if bitcoin is anonymous?

Let's say I bought bitcoin from a defunct exchange and then sold id P2P. What information about myself will the CIA have? I'm not even a US citizen, I don't really care if they know that I'm in the EU and gave this or that amount in my wallet. There are thousands of other people here who own as much as me or more. Even if I eventually use that money to buy myself a yacht, or a private jet, what will that information be worth to the CIA?

If accusations like that is all these people have to throw at bitcoin, we have nothing to worry about.

[GbitG]

Well if you ask anyone who says bitcoin is a scam, how bitcoin works, they have absolutely no response because they have absolutely no clue how it actually works.  I remember when people use to say this to me all the time back in the 2015/16/17 days.  My first question to them would always be "Okay, do you know what the blockchain is, or can you explain how it works"..never once was any single one of these persons able to do so.  So, there's really just a lot of noise out there.

Hmm To be honest this is the reason for their mistake that they didn't even study the best things like Bitcoin, Blockchain, etc., and they say that it is a scam, high volital, blah blah. I say that if they dig even a little bit deeper into the topic of what Bitcoin is, I can confidently say that they will become a fan of Bitcoin more than us. Because it's clear as day light that Bitcoin/Blockchain technology is a highly capable technology that no one has ever seen in the history of finance the same immutable, decentralized ecosystem as Bitcoin. So if these ignorant people even read out little bit about the Bitcion that what it is, how we can benefit from it, etc., then I hope that those people will also consider Bitcion as prominent instead of considering it a scam.

[Silberman]

Hmm To be honest this is the reason for their mistake that they didn't even study the best things like Bitcoin, Blockchain, etc., and they say that it is a scam, high volital, blah blah. I say that if they dig even a little bit deeper into the topic of what Bitcoin is, I can confidently say that they will become a fan of Bitcoin more than us. Because it's clear as day light that Bitcoin/Blockchain technology is a highly capable technology that no one has ever seen in the history of finance the same immutable, decentralized ecosystem as Bitcoin. So if these ignorant people even read out little bit about the Bitcion that what it is, how we can benefit from it, etc., then I hope that those people will also consider Bitcion as prominent instead of considering it a scam.

This is a view that is too optimistic, the opinion of those people is based on their feelings and what they have heard other people say, it has nothing to do with the facts and the robust technology behind bitcoin, so even if you were to take the time to explain to them why they are wrong, they will still not change their mind, and if you refused to do this and let them to their own devices, I can assure you they will never take the time to read anything about how bitcoin really works.

[boyptc]

Bitcoin is reliable for easy transaction

Many are going to disagree on this when the time for Bitcoin's price has increased way higher. And that is because the fee will no longer be cheap.

Even if it's going to be a few satoshis per transaction but that can be converted into $2 and more, ain't that cheap anymore.

It's easy but it's not going to be easy accepting the fact that the fees display an important part for every transaction to say that it's easy.

[slaman29]

Not really. I have met some people who say Bitcoin is a scam and they do know how it works. They know even more than the average BTT user. They know the hashing work in building blocks, the know the nature of the code, stuff like that, but they started out calling BTC a scam because they thought the founder was maybe honeypotting for the CIA or similar

Lol, that's interesting, I've never faced people like that. But what difference does it even make who Satoshi is? BTC works without him, it's and open book.

The idea here was that if CIA makes a honeypot of Bitcoin, then everyone who uses it marks them for the CIA, or they are looking for someone and hopes that they use BTC. I personally think it's dumb but then again Bitcoin was the reason they took down Silk Road and all those mixers. IF they used something else other than BTC they wouldn't get caught

How is he honeypotting for CIA if bitcoin is anonymous?

Bitcoin is not anonymous... Ask Silk Road people?

[amihada]

here we have to distinguish which one is a fraud, if someone uses bitcoin incorrectly as a tool to deceive others, it doesn't mean that bitcoin is a fraud, but the user is the one who uses bitcoin incorrectly, even people like that, all items that are sold can be used as a tool to cheat, so don't carelessly making assumptions.

[eightdots]

Those who believes in such way are either lacking knowledge of this industry or just trolling. This impression is due to people who invested with high hopes simply because there are actual people who won big amount. Without any investment plan, they will engage and embrace the risk from market price volatility. Once they suffered from big loss, they will panic and sell everything in beliefs of cutting the loss. However, what's best is to just continue. This happens simply because some investors are only after smooth winning outcomes and without also considering the rough journey. Bitcoin has never been a scam. It is a highly profitable asset IF you'd know how things really work in this blockchain.

Tip of advice; it would save your time and effort if you will have your readings first before making any unsolicited comments to something you don't know that much about.

There are a lot of people who talk a little bit aggressively or differently about the sector. In fact, the biggest reason why bad things are said about this sector is that people who talk about it have a good chance of reaching large audiences. For some people, it doesn't matter if what they say is right or wrong, the important thing is to get attention. That's why we shouldn't pay too much attention to the negative things being said about Bitcoin and the industry. There are a lot of people who say the wrong things to get some attention.

Bitcoin has never been a scam. For those who know Bitcoin and follow its development, Bitcoin has always been an opportunity.

[Yamifoud]

Bitcoin is reliable but people who don't know will continue to castigate the name of bitcoin, the only that makes bitcoin to look as even is a scam is due to government and the level of attack they are attacking bitcoin, so I know very well that the procrastination of government towards Bitcoin is what makes people to have doubts of bitcoin, so without that I don't think that people may loss interest, upon government kind of bad character to bitcoin still bitcoin is still flourishing in the market, for me, I know very well that we need to understand that government is against bitcoin and that is why it look as if bitcoin is a scam.

Nothing has made Bitcoin a scam but just scammers and it ruins its reputation due to scam involvement using the name Bitcoin. This actually confuses the community because of the widespread scam issues but for us who know the situation and already have knowledge about Bitcoin, we can say it is not true. 

Proper education is needed to correct all misconceptions about Bitcoin and the only solution to clear such issues. But until there are scammers, scams continue, and also because greedy people are easy to fool by sweet promises made by scammers.

Whether we like it or not, Bitcoin remains vulnerable to this scam issue as we can't stop scammers.

[Peanutswar]

Bitcoin has a lot of benefits if you will use this properly that's why Satoshi nakamoto created the Bitcoin to become decentralized and more convenient to the users. One of the factor why Bitcoin have a bad imagine is because of the media like form of movies they are using the Bitcoin most likely in a illegal activities, also the people who tried to scam other people who are totally new into the crypto spaces actually not just the Bitcoin but other coins too they are using the anonymity of the crypto to pretend helping others but have a bad intention. Also the government actually somehow against on the Bitcoin because it's decentralized but sooner or later they are now widely adopting this feature. Only the user gives a bad imagine on Bitcoin.

[Olubetty08]

Bitcoin is reliable but people who don't know will continue to castigate the name of bitcoin, the only that makes bitcoin to look as even is a scam is due to government and the level of attack they are attacking bitcoin, so I know very well that the procrastination of government towards Bitcoin is what makes people to have doubts of bitcoin, so without that I don't think that people may loss interest, upon government kind of bad character to bitcoin still bitcoin is still flourishing in the market, for me, I know very well that we need to understand that government is against bitcoin and that is why it look as if bitcoin is a scam.

Nothing has made Bitcoin a scam but just scammers and it ruins its reputation due to scam involvement using the name Bitcoin. This actually confuses the community because of the widespread scam issues but for us who know the situation and already have knowledge about Bitcoin, we can say it is not true. 

Proper education is needed to correct all misconceptions about Bitcoin and the only solution to clear such issues. But until there are scammers, scams continue, and also because greedy people are easy to fool by sweet promises made by scammers.

Whether we like it or not, Bitcoin remains vulnerable to this scam issue as we can't stop scammers.

Yes, I agreed with you, I have been victim of cryptocurrency before even when I have a little knowledge about it, some countries put restrictions on Bitcoin not because they don't believe in the productive aspect of it but to protect their people from been a victim of scam, we still have a lot of people falling to the hands of this people everyday, even some so called professionals, I wonder how this scammers do upgrade their operation every minutes.The challenge here is that we can't trust any platform on cryptocurrency, but Bitcoin remain legit

[avp2306]

Bitcoin has a lot of benefits if you will use this properly that's why Satoshi nakamoto created the Bitcoin to become decentralized and more convenient to the users. One of the factor why Bitcoin have a bad imagine is because of the media like form of movies they are using the Bitcoin most likely in a illegal activities, also the people who tried to scam other people who are totally new into the crypto spaces actually not just the Bitcoin but other coins too they are using the anonymity of the crypto to pretend helping others but have a bad intention. Also the government actually somehow against on the Bitcoin because it's decentralized but sooner or later they are now widely adopting this feature. Only the user gives a bad imagine on Bitcoin.

For sure there would be a lot to get from this but a lots of people choose to think about bitcoin as other means for them. Since majority of new people joining in the scene think about that bitcoin is good for investment that's why a lot of those newbies fall from scam and they blame bitcoin as scam or just a tool that used by scammers. This is how they tainted bitcoin so bad and if they could just able to do a research regarding on those scams and possible how to use their bitcoins then possibly they can avoid to get compromised and also they know the multiple used  of bitcoin for their daily life which they can take advantage with.

Maybe for now government is against on its existence because they want to endorse something that they think more beneficial as they can control people's activity. But if they don't have a choose and bitcoin growth will be unstoppable for sure these officials thinking negative about it might don't have a choice but to adopt.

[AYOBA]

The transparency of Bitcoin transactions, due to the blockchain, ensures that all movements of the currency are unique and verifiable, reducing the risk of fraud in systems. Regulatory bodies and financial institutions are increasingly encouraging and merging Bitcoin into their systems, indicating how reliable  and potential for legitimate use in the business .

Bitcoin has been exited since while and no of the people's have before that there been scam from the Bitcoin, everybody where reliable in Bitcoin because it has popular and that's why is always encouraged people's all the time. The Bitcoin is a legitimate online business which everyone benefits from it that means if you the financial and can able to afford the risks that involve you main earned a lot of from Bitcoin without scammed.

Bitcoin is reliable for easy transaction, it is a system way of saving, it is transparent in trading.
Due to its unique financial stability companies are happy to use it in the legitimate ecosystem due to its legal rights in the country.

A Bitcoin is a reliable since we can make an transaction without spending much of time and also way of saving some of the assets for a long periods time which if a person a patient it can have some of the gain on saving. Because is not like the bank that if we save of inside bank will been deducted some bank maintenance and so ever, the Bitcoin is not like that is very save in terms of transactions and trading.

[Assface16678]

Bitcoin is reliable but people who don't know will continue to castigate the name of bitcoin, the only that makes bitcoin to look as even is a scam is due to government and the level of attack they are attacking bitcoin, so I know very well that the procrastination of government towards Bitcoin is what makes people to have doubts of bitcoin, so without that I don't think that people may loss interest, upon government kind of bad character to bitcoin still bitcoin is still flourishing in the market, for me, I know very well that we need to understand that government is against bitcoin and that is why it look as if bitcoin is a scam.

Nothing has made Bitcoin a scam but just scammers and it ruins its reputation due to scam involvement using the name Bitcoin. This actually confuses the community because of the widespread scam issues but for us who know the situation and already have knowledge about Bitcoin, we can say it is not true. 

Proper education is needed to correct all misconceptions about Bitcoin and the only solution to clear such issues. But until there are scammers, scams continue, and also because greedy people are easy to fool by sweet promises made by scammers.

Whether we like it or not, Bitcoin remains vulnerable to this scam issue as we can't stop scammers.

Yes, I agreed with you, I have been victim of cryptocurrency before even when I have a little knowledge about it, some countries put restrictions on Bitcoin not because they don't believe in the productive aspect of it but to protect their people from been a victim of scam, we still have a lot of people falling to the hands of this people everyday, even some so called professionals, I wonder how this scammers do upgrade their operation every minutes.The challenge here is that we can't trust any platform on cryptocurrency, but Bitcoin remain legit

Well, I assume you are referring to altcoins, meme coins, or shit coins. Well,  those currencies or coins tend to become scams, or most of them are scams, but not all of them because there are still coins that are legit and can be profitable; you just have to find out which is which. Altcoins may be the second to bitcoin but when it comes to meme coin and shit coins, this coins are the most dangerous and suspicios currency you could invest into, meme coins are tend to be hype and after its ATH it will down significantly or rug pulled because investors will pull out all their assets, in short it has a short life span and tend to rug pulled, shit coins mean while are coins that has created out of no where, without a proper white paper or project but it is promoted, those currency are the coins that you should avoid because it has the higher chances that is is created by a scam.

[bettercrypto]

The transparency of Bitcoin transactions, due to the blockchain, ensures that all movements of the currency are unique and verifiable, reducing the risk of fraud in systems. Regulatory bodies and financial institutions are increasingly encouraging and merging Bitcoin into their systems, indicating how reliable  and potential for legitimate use in the business .

Bitcoin is reliable for easy transaction, it is a system way of saving, it is transparent in trading.
Due to its unique financial stability companies are happy to use it in the legitimate ecosystem due to its legal rights in the country.

What you mentioned is correct, and that is the reason why there have also been various blockchain networks that have appeared in the field of cryptocurrency. That's because most of the copycats saw that she was beautiful and had the potential to not only become a trend in the future but also benefit from the majority of community investors who would have an interest in it.

It's been almost a decade, and even now we can still see the record history in the blockchain network of bitcoin and even in other blockchain networks in cryptocurrency as well.