Crypto Is a Scam

[BitGoba]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

Crypto founders take advantage of beginners who do not fully understand what Bitcoin really is or how it works. They use that lack of knowledge to create their own shitcoins and promote them as “better Bitcoin,” “faster Bitcoin,” “more private Bitcoin,“Bitcoin that transfers fiat coins”” or “Bitcoin with smart contracts.”

The scam is usually very simple. Crypto founders create a new token, keep a huge part of the supply for themselves, their company, or their foundation, and then sell the story to beginners who do not yet understand what Bitcoin really is or why it matters.

Some of the biggest scams in crypto . XRP created the full 100 billion XRP supply from the beginning, with 80 billion XRP given to the company behind it. Ethereum also started with a large premine, where roughly 72 million ETH was distributed at genesis, including more than 60 million ETH sold through the ICO and around 12 million ETH allocated to the foundation and early contributors.

Bitcoin is not crypto. Crypto is an industry built around tokens, founders, marketing, and insider allocations. Bitcoin is a decentralized form of money with fixed supply, proof-of-work, and no central authority. Calling Bitcoin “crypto” only helps shitcoin promoters confuse beginners and make their projects look more legitimate than they really are.

[Outhue]

Bitcoin is cryptocurrency.



Everything else is Alternative cryptocurrency.
People have fallen so deeply in love with Bitcoin that they want to make it sound differently, if they have the power to separate Bitcoin from been cryptocurrency they will.

I don't blame them for that but the facts still stands that bitcoin is a cryptocurrency, that's why every other Blockchain projects starts wil ALT in their recognition, as ALTcoins, meaning Alternative coins.

[BitGoba]

Bitcoin is cryptocurrency.



Everything else is Alternative cryptocurrency.
People have fallen so deeply in love with Bitcoin that they want to make it sound differently, if they have the power to separate Bitcoin from been cryptocurrency they will.

I don't blame them for that but the facts still stands that bitcoin is a cryptocurrency, that's why every other Blockchain projects starts wil ALT in their recognition, as ALTcoins, meaning Alternative coins.

Bitcoin is not currency. Bitcoin is money. Currency and money are not the same thing.

Bitcoin has nothing to do with crypto and crypto industry  Crypto is mostly a complete scam.

[Hypnotizer]

Understanding this difference is very very crucial for every beginner and I think they don’t really fully distinguish between them before venturing into this space. But sometimes these beginners usually come into crypto with the vision to make very quick money and profits and since Altcoins promise that then they just choose to invest in them especially in all those’d memecoins and tokens..

Bitcoin is so far the best form of a decentralized system and I understand your concern about how calling Bitcoin a cryptocurrency do helps all these shitcoins under the same umbrella being also called crypto but bitcoin is still a cryptocurrency.

In most places I see bitcoin being placed differently aside other Altcoins….like when some government legalize this space they say “ Ghana has legalize Bitcoin and crypto” so the difference is kinda already established.

[Joy_learns_crypto]

In summary you are differentiating Bitcoin from altcoins. Altcoins are other coins in cryptocurrency aside bitcoin but they are all cryptocurrency bitcoin and altcoins alike they are all cryptocurrency.

[Charles-Tim]

Bitcoin is not crypto.

I understand your point, and you are right, that cryptocurrencies are full of scam, but this is more complicated than what I can call a scam. I prefer to use the word gambling so that people will know how risky cryptocurrencies are. But there are times I also call it scam, especially when I see another fake project or pump and dump project, and this is very common.

[SilverCryptoBullet]

Bitcoin is not crypto. Crypto is an industry built around tokens, founders, marketing, and insider allocations. Bitcoin is a decentralized form of money with fixed supply, proof-of-work, and no central authority. Calling Bitcoin “crypto” only helps shitcoin promoters confuse beginners and make their projects look more legitimate than they really are.

Bitcoin is Bitcoin sure, but it is not wrong if you consider Bitcoin as a cryptocurrency, that's just right.

There are many cryptocurrencies and Bitcoin is one of them, that's right, so even you don't like it, you can not prohibit anyone calling Bitcoin as a cryptocurrency. You can have your favorite choice to call Bitcoin is just Bitcoin, and ignore the term cryptocurrency used by the others. However the others can consider and call Bitcoin as a cryptocurrency, and they don't do anything wrong at all.

Scammers are scammers and they can use the term cryptocurrency, even a "Bitcoin killer" buzzword to make their scams, but it is not reason why we should prohibit calling like "Bitcoin is a cryptocurrency."

[Odohu]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

Your statement is partly correct considering that Bitcoin have become the only asset that have not been completely under the control of anyone... full decentralization. As much as that is correct, I will not agree that all cryptocurrencies are scams because a lot of them solve huge problems and provided great utility and were not built outrightly with the intention to scam. There are still cryptocurrencies that are worthy of investing in so the job is to ensure we do due diligence before putting money into any project. We should not be carried away by hypes like is common in memecoins, instead the utility and feasibility should be the motivation.

[Promocodeudo]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

Your points are clear and I agree with you since you're painting on beginners alone which ordinarily we know that some of them may not know how to different shits which are pump and dump garbages from Bitcoin, argument will come up here in respect to this because people will argue that both Bitcoin and altcoins or whatever shits fall in the category of cryptocurrency perhaps many do not know that Bitcoin is a digital asset of it's own with uniques features that should not categorized with those hyped shits, there are many things that differentiate Bitcoin from cryptos, Bitcoin is futuristic, reliable, trusted, of course decentralized which is a street man identity for Bitcoin, it has stand a test of time from the the day it was created till now, it remains the most valued digital asset that have ever existed.

[Die_empty]

Bitcoin is not currency. Bitcoin is money. Currency and money are not the same thing.

Bitcoin has nothing to do with crypto and crypto industry  Crypto is mostly a complete scam.

Your observations are true because many people have been scammed into believing that they are buying Bitcoin while it is shitcoins. This is why it is important to always distinguish between Bitcoin and altcoins. However, Bitcoin is part of the classification of money called cryptocurrency. Bitcoin is the main crypto, which is why other coins are called altcoins. Newbies should know that Bitcoin doesn't have duplicates, so anyone who is presenting anything similar to it is a scammer.

[ultrloa]

Bitcoin is not crypto.

I understand your point, and you are right, that cryptocurrencies are full of scam, but this is more complicated than what I can call a scam. I prefer to use the word gambling so that people will know how risky cryptocurrencies are. But there are times I also call it scam, especially when I see another fake project or pump and dump project, and this is very common.

That's why its good to separate how people call it then call it up as Bitcoin and not crypto.

There are lots of scam on cryptocurrency scene which ride up and use Bitcoin as their front. So to easily identify the real Bitcoin and to stay away being associated this coin with scams better normalize to call it on its name.

Bitcoin became more popular and lots of scammer will try to deceive newbies then say something that there coin will be the next Bitcoin.

[Y3shot]

Bitcoin is not crypto.

I understand your point, and you are right, that cryptocurrencies are full of scam, but this is more complicated than what I can call a scam. I prefer to use the word gambling so that people will know how risky cryptocurrencies are. But there are times I also call it scam, especially when I see another fake project or pump and dump project, and this is very common.

Both gambling and scams can be found in cryptocurrency, and it is possible for one to end up buying any of them. It is unfortunate that most beginners in the outside world don’t even know the difference between Bitcoin and cryptocurrency.

It is only forums like Bitcointalk that help people understand the true meaning of what Bitcoin and cryptocurrency are. However, beginners who want to dive deeper to gain more knowledge will definitely know there is a difference between Bitcoin and other coins and will see good reasons why Bitcoin deserves more attention for investment.

[Razmirraz]

The use of the term “crypto” often equates Bitcoin with thousands of other shitcoins. Equating Bitcoin with other coins under the term "crypto" can mislead beginners into thinking that buying high-risk speculative tokens is as safe as buying Bitcoin. On the one hand, Bitcoin technically uses cryptography, but on the other hand, philosophically, the majority of Bitcoin users agree that Bitcoin is digital money (a commodity). While "crypto" refers more to the application industry or speculative coins/tokens. Beginners should understand this distinction to help them separate assets focused on long-term sustainability (Bitcoin) from projects focused on short-term gains (crypto).

[EluguHcman]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

You are somehow causing misinformation here, who had been feeding us this ideal that Bitcoin is not crypto it at all you mean crypto currency.

IMO Bitcoin is still crypto currency but when you consider the digital currencies in a large space, there are other crypto currencies which are notable as the alternative crypto currencies after which Bitcoin as the first crypto currency is being acknowledged.

We also have those crypto currencies tagged as alt coins because Bitcoin has been ahead of proving the potentials as a reliable asset to store values and hedges inflations and it is the most dominance of the DeFi while most investors considers other crypto currencies as alternative to their portfolios.
I am also opened to further discussions just in case I am wrong.

[Miles2006]

Op is right, there’s a slight difference because crypto is mainly use for altcoins while bitcoin stands alone though for educational purpose it’s best to know bitcoin can also be refer as cryptocurrency yet bitcoin surpasses every other cryptocurrency. It’s advisable to always use bitcoin as bitcoin in any discussion while cryptocurrency should be referred as other alternative crypto in order not to mislead people, this is simple because many newbies intend to make different kinds of mistakes and this is also a common mistake and honestly crypto is picture as a scam due to how the creators want quick profit without thinking of the masses, it’s either they create a hype to lure  new investors afterwards scamming take place which shows the project is built on lies.

[AprilioMP]

Bitcoin is cryptocurrency.



Everything else is Alternative cryptocurrency.
People have fallen so deeply in love with Bitcoin that they want to make it sound differently, if they have the power to separate Bitcoin from been cryptocurrency they will.

I don't blame them for that but the facts still stands that bitcoin is a cryptocurrency, that's why every other Blockchain projects starts wil ALT in their recognition, as ALTcoins, meaning Alternative coins.

Bitcoin is not currency. Bitcoin is money. Currency and money are not the same thing.

Bitcoin has nothing to do with crypto and crypto industry  Crypto is mostly a complete scam.

Bitcoin is a peer-to-peer electronic cash system that makes it easy for people to conduct transactions worldwide without involving a third party.
When people use Bitcoin in a payment transaction, Bitcoin is money, but not the physical kind known as fiat currency.

Bitcoin is Bitcoin, abbreviated as BTC. Aside from BTC, everything else is cryptocurrency.
People are already familiar with the term “Bitcoin” meaning cryptocurrency.
This could get lengthy, but there’s no need to delve too deeply into money, currency, and cryptocurrency.

It’s important for beginners to understand Bitcoin and cryptocurrency to avoid mistakes, so that when they want to buy for investment purposes or for payment transactions, they don’t make wrong.

[Juicyhome]

Bitcoin is not currency. Bitcoin is money. Currency and money are not the same thing.

Bitcoin has nothing to do with crypto and crypto industry  Crypto is mostly a complete scam.

Op be calming down, don't confuse beginners there's no difference between money and currency, it's same meaning with different spelling, be it fiat or crypto is all accepted currency, Bitcoin is crypto because it's a digital currency, any digital currency is crypto and Bitcoin fall under crypto. Money is currency and currency is money. Let's be guided.

Bitcoin is the first cryptocurrency ever made on earth, every other crypto aside Bitcoin are altcoins, is good you know this so tomorrow children won't laugh at you. All currency can be use to scam people all over the world, before crypto there was scam, using Fiat to scam people, crypto didn't introduce scam, don't make it look like crypto is the reason why we have many scammers. You're dis marketing crypto world.

[Hewlet]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

As much as I find it reasonable to create the right difference between crypto and bitcoin so as to paint the right narrative around it, putting out an headline that suggest that crypto is a scam still doesn't give the right idea of what crypto actually is about and it's not even through that crypto is actually a scam.

Bitcoin being the first digital currency that came about before any other thing under the category of crypto came into existence is on a world of it own but at the same time, you can't completely define it and isolate the word cryptocurrency from it. In it ideal form, we're supposed to have bitcoin and alternative to bitcoin but we have bitcoin and alternative to crypto so it still makes it look like bitcoin is still crypto in disguise. You can educate newbies on the silient difference between both but you can't completely tell that crypto is a scam and not accept the fact that you're also calling bitcoin a scam in some way.

[BitMaxz]

Bitcoin is not currency. Bitcoin is money. Currency and money are not the same thing.

Bitcoin has nothing to do with crypto and crypto industry  Crypto is mostly a complete scam.

Bitcoin is not a currency, you are correct; however, it is a cryptocurrency. Currency and cryptocurrency are entirely different.

I think you should learn more about bitcoin.

I believe your entire point is altcoins. Bitcoin will never become an altcoin.
Most altcoins are scams, but not all.

ETH has an unlimited supply compared to Bitcoin. XRP has a limited supply of 100 billion, while BTC has a supply of 21 million.
So Bitcoin has a huge advantage because its price is determined by demand and supply, and with each block halving, only Bitcoin can fly to the Moon.

[Dex_master25]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

Crypto founders take advantage of beginners who do not fully understand what Bitcoin really is or how it works. They use that lack of knowledge to create their own shitcoins and promote them as “better Bitcoin,” “faster Bitcoin,” “more private Bitcoin,“Bitcoin that transfers fiat coins”” or “Bitcoin with smart contracts.”

The scam is usually very simple. Crypto founders create a new token, keep a huge part of the supply for themselves, their company, or their foundation, and then sell the story to beginners who do not yet understand what Bitcoin really is or why it matters.

Some of the biggest scams in crypto . XRP created the full 100 billion XRP supply from the beginning, with 80 billion XRP given to the company behind it. Ethereum also started with a large premine, where roughly 72 million ETH was distributed at genesis, including more than 60 million ETH sold through the ICO and around 12 million ETH allocated to the foundation and early contributors.

Bitcoin is not crypto. Crypto is an industry built around tokens, founders, marketing, and insider allocations. Bitcoin is a decentralized form of money with fixed supply, proof-of-work, and no central authority. Calling Bitcoin “crypto” only helps shitcoin promoters confuse beginners and make their projects look more legitimate than they really are.

I quite understand the difference you are trying to make and for a newbie, it serves me well mostly knowing that Bitcoin is a kind of cryptocurrency in the crypto currency industry of which there are different types including software tokens, shitcoins, altcoins, and other kinds of experimental coins designed to capture and rip off unknowing customers that think that since Bitcoin is a very good coin and top performer in the crypto currency industry, then all others are, without knowing fully well, that Bitcoin is decentralized, has only a specific amount of cap it gets to, it is global and can't really be claimed or manipulated by any government as others may be and just as fiat currency is controlled by the government.