Cryptocurrency may be a scam after all

YujinTan · Jul 1, 2019

I don't feel so. In fact to me In this world we all living in an illusion , also a SCAM in making, is how Gov, authority " make it look legal that all "

just like How bank works , Bank don't even have money of their own , they are using client money reinvest , than return you a bit interest . ONE thing why so cal not scam
they will not take your money inside the bank don't return you.

next , IMF , etc look at them , just print money and print if things go wrong ,

Everything in this world , all the big players are behind " controlling " that all.

IN fact , Gov also into crytocurrency investment if you don't know. Beside usual stocks , forex , etc investment.

If you go in depth , every thing in this world sound like a " scam " from property etc

look at property , people buy than sell high . Every one doing this , and in future How the future gen can afford own a house of their own?

here come Gov . They can " control it " also can push it depend how situation go . Same for all stuffs

Pigsy · Jul 1, 2019

Almighty Pull said:
Lol, the dollar has the backing of federal reserves, all the assets of the government (which infact is elected by people) and global trades carried out in USD.
Also, the relative value of USD and all other currencies is decided by World Bank using the PPP for a basket of goods and also the health of the nation's economy, whereas the BTC is just plain and simple, expectations.

I am not saying it will always be this way but as of the current scenario, the price of BTC/Crypto is mostly derived from speculators / traders.

Of course the dollar has the backing of the Federal Reserve System... They print it! You say it as though it's something to be proud of. I'd be very worried if the person printing the money didn't have faith in it.

And last time I checked the US is in major debt. Yes some debt can be good, but having such high debt to GDP ratio is not a good sign.

Everything is expectations and belief. I don't see any difference to someone believing in the US government's ability to maintain financial stability, or someone believing in Bitcoin. They're just different forms of belief. In fact, at least Bitcoin is backed by hard math and cryptography. You can't fake it and transactions can never go missing. How many billions upon billions go missing every year due to government negligence?

mhtro · Jul 1, 2019

YujinTan said:
I don't feel so. In fact to me In this world we all living in an illusion , also a SCAM in making, is how Gov, authority " make it look legal that all "

just like How bank works , Bank don't even have money of their own , they are using client money reinvest , than return you a bit interest . ONE thing why so cal not scam
they will not take your money inside the bank don't return you.

next , IMF , etc look at them , just print money and print if things go wrong ,

Everything in this world , all the big players are behind " controlling " that all.

IN fact , Gov also into crytocurrency investment if you don't know. Beside usual stocks , forex , etc investment.

If you go in depth , every thing in this world sound like a " scam " from property etc

look at property , people buy than sell high . Every one doing this , and in future How the future gen can afford own a house of their own?

here come Gov . They can " control it " also can push it depend how situation go . Same for all stuffs

I lost brain cells reading this.
Property is the best investment you can make, who owns property the taxing etc is made in the idea of socialism and a better tommorow for everyone, even if you don't like it it's what kept you alive from insane people cutting your dick and eating your guts out (prison system).

Gold etc might be good but someone will figure how to mine comets and either drive the ores value to the ground or do what the diamond industry does.

So yeah property is very profitable and sustainable, even if we set foot on Mars and we have colonies there will always be demand for property on earth

bartosimpsonio · Jul 1, 2019

In this thread I've been called Sherlock and dumbo.

I guess the subject does hit a nerve.

YujinTan · Jul 1, 2019

mhtro said:
I lost brain cells reading this.
Property is the best investment you can make, who owns property the taxing etc is made in the idea of socialism and a better tommorow for everyone, even if you don't like it it's what kept you alive from insane people cutting your dick and eating your guts out (prison system).

Gold etc might be good but someone will figure how to mine comets and either drive the ores value to the ground or do what the diamond industry does.

So yeah property is very profitable and sustainable, even if we set foot on Mars and we have colonies there will always be demand for property on earth

property you have to depend how the market go.

Is not Always on high side. Gov does will come to control. You also can't blame them. They want to make sure property price is afforable to everyone
I prefer to PUBLIC housing.

for private properties they don't care much , If you are rich can pay the levy increase by the Gov than go for it . To the rich folks they mostly invest
in private properties.

In fact why every countries property price suddenly go so high partly due to foreigners .
For an example rich china folks.

I get to know some folks in Aust already complain the locals can't afford to bid the land build house partly because of those rich foreigners
can afford to bid higher than them.

HoNeYBiRD · Jul 1, 2019

sky007 · Jul 1, 2019

mhtro said:
I lost brain cells reading this.
Property is the best investment you can make, who owns property the taxing etc is made in the idea of socialism and a better tommorow for everyone, even if you don't like it it's what kept you alive from insane people cutting your dick and eating your guts out (prison system).

Problem is, in United States you not own Any property... State own your property, that's is why you are paying taxes... If you have a DEED, you can look it up what that you are listed as a "TENANT"...

Add more to it... In US we do not have Money on the public side... You cannot really buy anything,

You cannot pay debt with the debt (FRN is a debt Note)... And all properties and Mortgages are lien
to Federal Reserve...

You can say it's all bs of course, before you start digging and research for yourself, or keep sleeping

and continue working for free... GOLD on the other hand is barely profitable to mine today, how much

you think it will cost to mine GOLD on "alleged" asteroid...? And again what do you know about NASA and

Space??? Most of it is made up bullshit and fakery... That's what I mean, just start digging...

mhtro · Jul 1, 2019

sky007 said:
Problem is, in United States you not own Any property... State own your property, that's is why you are paying taxes... If you have a DEED, you can look it up what that you are listed as a "TENANT"...

Add more to it... In US we do not have Money on the public side... You cannot really buy anything,

You cannot pay debt with the debt (FRN is a debt Note)... And all properties and Mortgages are lien
to Federal Reserve...

You can say it's all bs of course, before you start digging and research for yourself, or keep sleeping

and continue working for free... GOLD on the other hand is barely profitable to mine today, how much

you think it will cost to mine GOLD on "alleged" asteroid...? And again what do you know about NASA and

Space??? Most of it is made up bullshit and fakery... That's what I mean, just start digging...

Not a US citizen so I don't have a good grasp on how the system works there.
How much I know about Nasa and Space; wait are you one of those guys that believe the earth is flat.
There is around $700 quintillion **according to NASA** on the asteroid belt, say we just mine passing asteroids that are close to earth etc, it will still be profitable.
Just the resources some asteroids can give us will help us take a giant leap forward as a civilization.
"or keep sleeping

and continue working for free...", so what you are not sleeping? Get out of here wannabe globalist, because you know how exploited and corrupted a system is it doesn't make you a omnipotent or omniscient being.

Money Religion · Jul 1, 2019

As somebody who's investing in new projects, trading on a daily bases, HODL'ing and after all - making money that can be easily cashed out whenever you want to, I just want to say the following: there are tons of theories about everything, but you shouldn't believe none of them since it's literally just a "theory". I've friends and simply known individuals that are living their dream thanks to knowledge and patience when we are talking about cryptocurrencies. No matter what you believe or not, just like people above me have mentioned - as long as you can make money off it - we are good. Kind of don't get the point of this topic, honestly. One politician once told me: "If you don't know what you are talking about, just remain silent. It's better to stay shut than look stupid."

sky007 · Jul 1, 2019

mhtro said:
Not a US citizen so I don't have a good grasp on how the system works there.
How much I know about Nasa and Space; wait are you one of those guys that believe the earth is flat.
There is around $700 quintillion **according to NASA** on the asteroid belt, say we just mine passing asteroids that are close to earth etc, it will still be profitable.
.

NASA is about the same as Federal Reserve. It's a tax on stupidity..
Flat earth no flat earth.. I don't know... I'm no Space traveler.. All I know is NASA lying 90% of the time and
they have all the reasons to do so, it's all about $$$...
How much $$$ has been wasted since 1950's? Anyways, yes it makes no
difference to be in the system, but at least it's good to know, what those lying bastards are up to...
Bro, we don't know yet What the f*ck is going on here on EARTH, what NASA? What SPACE...??
It's all f*cking bs cartoon factory...
80% of the ocean still not explored and not researched...

Pigsy · Jul 1, 2019

mhtro said:
There is around $700 quintillion **according to NASA** on the asteroid belt, say we just mine passing asteroids that are close to earth etc, it will still be profitable.
Just the resources some asteroids can give us will help us take a giant leap forward as a civilization.

You do realize this isn't how it works at all right? Supply and demand. If tomorrow we started mining an asteroid with thousands of tons of gold, all that would happen is the price of gold would absolutely plummet and become just another metal. Yes it would still have value and application, but there would so much of it on the market that the supply and demand would be completely out of sync. Hello $10/ounce gold.

So when you hear or read these "700 quintillion" numbers, they're just sensationalist headlines to grab people's attention. In reality it would be nothing even close to that

bartosimpsonio · Jul 1, 2019

How about this, they just generated 100 million dollars out of thin air: https://twitter.com/whale_alert/status/1145740151542431744

JB2302 · Jul 1, 2019

Dollar is also and made up money!!
It is just a piece of paper or data stored in the computer.

Nothing backs it up, till 90s it was gold that back it up.
But not now.

it has value because we all believe on it.

tb303 · Jul 1, 2019

bartosimpsonio said:
In this thread I've been called Sherlock and dumbo.

I guess the subject does hit a nerve.

Can I add "Troll" to that list?

I find it hard to believe that youve only just learned of tether, bitfinexed etc.

Almighty Pull · Jul 2, 2019

Brickbat1 said:
All paper money, including the dollar, are scams...but while the scam is still running, make some of it for yourself...

Oh don't get me started... the Federal Reserve.. whats that? The biggest scam ever sold to the USA. An institution started by private concerns to manage the economic affairs of a whole country. Smell the coffee. Why did the dollar go off the gold standard? Simple. So the US can print money whenever it wants. Thats the basic reason for dollar based inflation worldwide. Its a whole treatise, the scam of it all... the borrowed German Gold to the Federal Reserve that never got returned..The trickery of pricing Oil in dollars, or is it the aftermath of the second world war..

Bottomline, don't worry about Bitcoin being a scam, all financial engineering of humans are scams if you look closely enough. Just play your part in the scam and make a bit of it all for yourself and your loved ones...

Pigsy said:
Of course the dollar has the backing of the Federal Reserve System... They print it! You say it as though it's something to be proud of. I'd be very worried if the person printing the money didn't have faith in it.

And last time I checked the US is in major debt. Yes some debt can be good, but having such high debt to GDP ratio is not a good sign.

Everything is expectations and belief. I don't see any difference to someone believing in the US government's ability to maintain financial stability, or someone believing in Bitcoin. They're just different forms of belief. In fact, at least Bitcoin is backed by hard math and cryptography. You can't fake it and transactions can never go missing. How many billions upon billions go missing every year due to government negligence?

Okay, that's fine that USD has perceived value as do all other currencies in the world but that doesn't makes BTC any better.
At the very least, I can LEGALLY convert USD to other currencies and Good & Services whenever & wherever I want, unlike BTC, transactions in which are banned for more than 30% [China & India] of the global population and the count still increasing day by day.

Plus USD and most other currencies are STABLE unlike BTC/Crypto which can gain or loose even 20% of its value in a couple days!

I favor BTC as a global currency due to all the inherent issues that exists with paper currencies like governments manipulation and debts and printing money and corruption and other stuff but currently BTC/Crypto is nothing more than a Gambler's Paradise and not something that I'd invest in for my child's education

jupiter4 · Jul 2, 2019

NicheLeads said:
You're thinking about the "what-ifs" not really likely. I mean take PayPal for example. It's not a bank. What did you think PayPal funds are? They are a made up currency.

Amen, Amen, and Amen.

Aptably · Jul 2, 2019

The Cryptoes popping up everyday are scams. Those established Cryptoes aren't scam. I lost $3600 in a fake Crypto. I had earned that money in that coin but they never saw daylight.

Jmarv000 · Jul 2, 2019

bartosimpsonio said:
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.

Isn't the money that we are holding now made up by the Government? Ever since USD remove the backing of Gold, it is just legal tender piece of paper where the government promises value based upon free market principles. The government can print any amount of money they want using the backing of so call GDP, almost similar to crypto except that crypto is based upon the backing of the public trust?

UnlimitedSense · Jul 2, 2019

$9k again. Scamming more users again and again. Sad life for those hoarding up in their wallet.

litornah · Jul 2, 2019

bartosimpsonio said:
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.

Listen dude, Bitcoin doesn’t need to be “using dollars” Dollars need to be using Bitcoin! Bitcoin is an ASSET! The dollar is not an asset. Gold is an ASSET. Oil is an asset. The dollar used to be backed by gold before it became a scam.

Cryptocurrency may be a scam after all

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