Cryptocurrency may be a scam after all

[bartosimpsonio]

This has been one of the fundamental issues with Cryptocurrency from day one; anyone can create a cryptocurrency. Half of the cryptocurrencies are just using someone else's code base and is almost exactly the same as another coin. Bitcoin and Litecoin for example, all they changed was the block time. People also create forks and create a new coin that follows another direction but the truth is, they are all the same. People are just creating Bitcoin forks and then calling it Bitcoin X and just uses it to earn money but they make it sound like they are trying to change the world (errmm, no). Any developer can change a few lines of the existing Bitcoin code and then create their own coin, its as easy as that.

Ultimately, I think Cryptocurrency will fail in the end, maybe a few good cryptocurrencies will survive but I believe 95% of them will just go to zero.

I think Tether needs to be cleared up.

I agree with crypto anarchists that the state should not get involved with crypto, but Tether is not crypto, it's dollars. And there's enormous suspicion about these dollars. I think if dollars are involved then the authorities should get involved too.

 

[loseblue]

Tether is a cryptocurrency that is supposed to be backed by dollars, 1 tether for 1 dollar, but what BitFinex is doing is printing as much as they want without any repercussions, not giving af, its the wild west, until we see legislation

 

[Deleted member 689749]

The last two bull runs were completely artificial. I think the Bitcoin price has reached a top and from here is all downside.

 

[loseblue]

Ok.. well.. I dont know where you get your information but since its a marketing forum

,
there was clearly hype december 2017 at the height of the bull run, artificial hype(?) I dont know.
As for me, I dont want to be a slave to rich bankers, the "federal" reserve actually has shareholders
Losing buy power because they wont stop printing more and more and more, while bitcoin is going up and not controlled by anyone, sounds pretty good to me

 

[X****s]

There are a few pros and cons with BitCoin. However over all it has a few outstanding flaws that prevent me from supporting it.

It's premined. The Nakamoto coins are basically a premine. Can't trust anything premined. And considering we don't even know who owns those coins that makes it even worse.

Pro, bitcoin is similar to gold in that it is limited in supply, but even better because the actual amount is visible and known for all of us to see. Con, similar to gold, if people choose to horde it, it becomes nearly unobtainable to the average person and further more late joiners are punished for simply being late. I have friends that bought bitcoin at $50 a coin, by some kind of sheer luck, that have no gained more wealth that their parents that spent the years since actually work. My point is it is unfair to have to "buy in" at a later date.

Bitcoin and many of the cyrptos come close to a good framework to replace fiat. Fiat having the problem that it is controlled by some that can print out infinite amounts as they please. However it seems all crypto (or 99%) fall victim to their own sense of greed and desire to gain more fiat.

Also I like to call Bitcoin the worlds greatest ponzi scheme as a bit of a troll.

 

[loseblue]

What are you even talking about? Horde it? When?
There are millions of dollars worth of bitcoin trading everyday across hundreds of exchanges

So its unfair.. then I think its unfair that I cant buy Apple stock or Microsoft stock for 5 cents a share. So unfair...

Its not only that they can infinitely print, they can close your accounts, they can bail themselves out when they gamble and lose, and no one will even complain

Its about freedom, not being controlled by greed

 

[royserpa]

If you've read my posts here you probably know I always rebuked threads claiming crypto was a scam.

Like I mentioned a couple days ago, I've been reading a few Twitter feeds and I'm beginning to convince myself crypto could turn out to be one of the greatest scams ever.

You people aware that almost all bitcoin traded every day isn't using dollars? You guys know that almost every exchange is creating their own version of "dollars"?

The stuff we see "x dollars" aren't dollars at all. I initially thought this was crazy, but it's true. It's made-up dollars. Unbelievable.

Well, "regular" us dollars are made from thin air as well, so... hahaha

 

[bartosimpsonio]

Well, "regular" us dollars are made from thin air as well, so... hahaha

Difference is : if you try to destroy the dollar, you know who's gonna back it up. If you try to destroy cryptos, there's nobody.

 

[redjebo]

Well, "regular" us dollars are made from thin air as well, so... hahaha

Haha, idiot, hahaha.

 

[redjebo]

There seem to be like 95%+ idiots to 5 or so % regular thinking people.
And then 1% or so of those 5 % that are more adequate people some percent of whom make the ruling elite. And then some people have the audacity to question the governments and elites. No, you are dead wrong. You are the idiots. The ruling elite is quite smart and good people after all. You just need some life experience to realize that.

 

[awesomewebsites]

The last two bull runs were completely artificial. I think the Bitcoin price has reached a top and from here is all downside.

Do not think for one year or so only. Think of it is a long term investment and you can reduce chance of a loss.

 

[Dseo]

I think that suddenly it would be collapsed as a pyramid

 

[PinMan]

Lol obvious trolling

 

[Mr. Grinder]

another controversial thread comes up again, in my internet marketing life, last 5 years i used to earned 300$ to 500$ a month, after starting my life with crypto, i own my iphone xs max , macbook, sports bike , all things i ever dream and life is so so good , this is not a "PM me and i sell my method for $50" type of comment , but for me ? crypto is my second god who gives me everything.

keep to create this kind of thread, we want some competition clear

 

[PinMan]

another controversial thread comes up again, in my internet marketing life, last 5 years i used to earned 300$ to 500$ a month, after starting my life with crypto, i own my iphone xs max , macbook, sports bike , all things i ever dream and life is so so good , this is not a "PM me and i sell my method for $50" type of comment , but for me ? crypto is my second god who gives me everything.

keep to create this kind of thread, we want some competition clear

Yo, is anyone here mining Pi

I have 200 Pi right now, u can mine it off ur phone free

 

[Mr. Grinder]

Yo, is anyone here mining Pi

I have 200 Pi right now, u can mine it off ur phone free

i dont believe this mining shit, buy low , sell high, believe in this

 

[Rotem]

It's a decentralized digital currency, that offers insanely fast and cheap ways of sending any amount of said currency around the world in seconds to anyone, regardless of their nationality, race or religion. What's the scam exactly?[/QUOTE]


I wish it was fast brother.

 

[Machinecode]

Something worth over 10k but worthless is always a strange concept lol. I guess we will see many large players moving in to BTC and how this effects adoption and pricing in the mid term. All i will say though is BTC IS 10 years old now and calling it a scam is nothing new, yet here we are and still going.

 

[Fahimstark]

Awesome update dear

 

[pr0ject1]

If you've read my posts here you probably know I always rebuked threads claiming crypto was a scam.

Like I mentioned a couple days ago, I've been reading a few Twitter feeds and I'm beginning to convince myself crypto could turn out to be one of the greatest scams ever.

You people aware that almost all bitcoin traded every day isn't using dollars? You guys know that almost every exchange is creating their own version of "dollars"?

The stuff we see "x dollars" aren't dollars at all. I initially thought this was crazy, but it's true. It's made-up dollars. Unbelievable.

Wait since we are on the topic of biggest scams in history do you mean that giving value to a piece of paper that I can easily wipe my robot ass with is also not the biggest scam in history?