Something that constantly pops up from newbies - is bitcoin itself a scam somehow?
My very sarcastic answer - of course it is.
Here's the plan:
First, enable people to buy and sell BTC at prices determined by the market on exchange sites
Second, enable people to exchange BTC for goods and services
Third, enable some merchants to cash out their BTC back for fiat again while enjoying the lack of chargebacks and other advantages
Fifth, profit (and loss for all those silly people who purchased or provided goods and services in the free market)
Question here is what the "
Newbies making the scam claim have a vague sense that someone is profiting and one day will reveal it was all a scam, something along the lines of this:
1 - Satoshi premines a pile of BTC and keeps hold of it
2 - BTC grows in value as people find it useful
3 - Satoshi goes "ya ha! now I can reveal my evil scam by getting rich off my innovation"
4 - Satoshi puts BTC on the exchange markets and sells it to willing buyers, thus profiting more - either dumping all at once and crashing the value or selling off a bit at a time
5 - In order to maximise profits, Satoshi chooses to sell off a bit at a time, again to willing buyers at market rates
If Satoshi is a scammer, so is anyone who ever got rich off a new and useful invention.
So is the "they" if not Satoshi?
Bitcoin exchanges and services to move funds into them (*cough*)?
What's the scam there exactly? "We'll provide a service to hook up buyers and sellers and will profit from this nicely" doesn't strike me as very deceptive.
"A ha! Now we've encouraged you to come into the bitcoin scam by investing into bitcoin and paying them to us so we carry the risk of bitcoin itself being insecure or suffering a price crash, behold our evil scheme"
"Now we have you, our scam has worked and we have provided you with goods and services while you gave us worthless bitcoins, err......"
Miner1: "All we have to do is invest in hardware and electricity costs and wait and soon the newbies will buy from us and we'll be rich! mwahahahaha"
Miner2: "Yeah, we could be rich or we could lose loads if this thing doesn't work out"
Miner1: "Shit, you're right - quickly, encourage a useful market for buying goods and services in bitcoin so that it has actual value for users"
Anyone who thinks bitcoin is a scam, here's a real scam:
Please send 1BTC to 14tu6Uvj6LAaK1cngz8BpRtzjCy6cm9n9g
If you send to this address and post the transaction ID here together with your own address and ask for it back, I promise I will not pay it back
(for those in on the scam - the scam is that I will in fact send it back if asked to, how very evil of me)