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shevamann
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Posted On: 2017-11-27 07:55:02
Viewed: 4675
What is Bitcoin exactly? A SCAM or a great investment?

What is Bitcon exactly?
Is it an investment or a currency play?
How much can I earn by investing/buying Bitcoins? Or is a Bubble and a SCAM that should be avoided? Seems like a great investment since it is up like 10000% or something like that.
What you all think?

Answers & Comments: 100
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7 months 5 days ago

It's not a SCAM but remember that governments will not sit and watch the control of the money supply float away. Everyone who is currently working on a new crypto project should foresee and develop protection against government attacks!
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7 months 5 days ago
Wrong Buddy. WRONG.
To call BitCoin or any of the so called CryptoCurrencies SCAM is an insult to the Word SCAM. Because as others have Noted, it takes only few Hours to create your own CryptoCurrency, which is the definition of why CryptoCurrencies such as BitCoin are utterly worthless as a general currency. BitCoin at 5 Cents would be an outrageous SCAM, at $6000 well! So only reason BitCoin went up is because CNBC and other ultra FAKE News sites, aks Trump Media, hyped this CRAP.
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8 months 6 days ago

Bitcoin is online money most of the real bank dont consider it as a money so it depend on you want a earn it or not
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8 months 6 days ago
What the F***K does that mean!
Ah another guy from India posting an answer that really does not say much but the most obvious. What the HEK is wrong with you guys from India for you seem to have no real Back Bone about anything as as your answers are always the most timid of answers as it can be.
Which timidity in your DNA is of course evident by India never winning, heck even entering, any Sporting events from World Cup to Olympic etc.. Grow Back Bone People from India :(
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7 months 6 days ago
FalconWay, take it Easy man :)
But you are right. People from India just seem to lack real Back bone. And really a best example of this fact is that India does horribly in every Major sporting event, having never even qualified to be in the World Cup or in the Olympic Indian athletes are a Joke at the best!
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7 months 6 days ago
Yes totally agree man. Indians are the FAKE People :)
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8 months 1 week ago

BitCoin and CryptoCurrencies in general are a case of a bad joke gone really bad 😡
After all Currency is something that only can be created by a Nation, because its value depends on other Nations, aka their Central Banks, accepting and giving value to said currency.
Whereas BitCoin and CryptoCurrencies are created by a software which software any dick and harry can run. So to say BitCoin and CryptoCurrencies are worthless as a currency, is to insult the word worthless. 🤓
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8 months 3 weeks ago

To say that BitCoin or any of the so called CryptoCurrencies are SCAM is to give a very very bad meaning to the Word SCAM. After all, it takes only an Hour if not few Minutes to create your own CryptoCurrency, which is the definition of why CryptoCurrencies such as BitCoin are utterly worthless as a general currency. Now a company can create its own currency for buying its goods and services, which thy have been doing for many years already, just calling it different names such as Points Credit, etc., such as United Airline giving you frequent flyer mileage Points, for doing X & Y, which you can then use to get discounted seats or upgrades.
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8 months 3 weeks ago
Hardy har har, that is so True, that is: "to call CryptoCurrencies such as BitCoin SCAM is to give a very very bad meaning to Word SCAM"

So the question is how did worthless BitCoin ever get the value that it did? Answer is that certain Wall Street Media outlets, such as CNBC hyped this joke into $10,000 US Dollars. But why did they do this?
That answer takes too long to explain.
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8 months 2 weeks ago
If you want to loose 99% of your Money, then BitCoin is for you :)
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8 months 1 week ago
I like that too: "To say that BitCoin or any of the so called CryptoCurrencies are SCAM is to give a very very bad meaning to the Word SCAM".
Well said :)
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9 months 5 days ago

Il BitCoinè un sistema per mangiar soldi, con l'idea di un guadagno. Una esperienza diretta, ho fatto un deposito di 50€ e ne sono passati solo 22, gli altri, mi è stato detto, che sono tutte spese. Per me questo si chiama usura, per tanto illegale, mi meraviglio che una cosa del genere possa stare in piedi e continuare ad esserci. Forse la tutela del cittadino mondiale dovrebbe valutare meglio questa moneta, mettere un calmiere, e delle regole molti rigide.
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1 year 3 days ago

Bitcoin is a commodity that can be used to be transfered to another as some valuable.

Bitcoin already have a marketcap.

Bitcoin is limited (deflacionary).

Bitcoin is being used.

Bitcoin have more than 10 years of history.
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1 year 3 days ago
BitCoin is a Currency created by an Anonymous person maybe called Satoshi something. As such it has ZERO value.

Traditional currencies have value because the FULL FAITH of US Government, European Union, UK, China, etc with all their Armies, Navies, Bridges, Dams, Taxing abilities, etc. are behind these "Traditional currencies".

Cryptocurrencies like Bitcoin have absolutely NO such FULL FAITH of a Nation behind it. Again it is just a code by some anonymous guy!
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1 year 1 week ago

I will try to answer the question the best I can, but please excuse me for my English (not native).

Bitcoin concrete applications are not still well established. It is very little used as a payment method.

It's current usage is way more a dormant / speculation one (people tends to buy it and hold it until it goes high and send sell it).

That's not what medias say about it, according to them it is a revolution in the payment industry but it is currently a false assertion.

Visa, MC and AMEX are far more used for payments and there is no evidence that Bitcoin will become a major alternative payment method.

However the blockchain which the Bitcoin is based on could be an interesting way to solve a well known banking "issue" of replication mistakes which happen between banking networks' servers. The blockchain could also be useful in notary fields.

It is not a scam but looks like investing in the Bitcoin is more a speculation on a bubble than a wise investment.
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1 year 1 week ago
Most of what you have said id True. Except that BitCoin is far Worse than a SCAM. BitCoin gives SCAM a very bad name. To be more exact BitCoin at 2 Cents to US Dollar would have been an amazing SCAM. What it is then at current $8000 to US$, defies any words. BitCoin demonstrates the power of the Big Wall Street Media, aka FAKE News, such as CNBC, to brain wash the masses like Sheep to follow anything, no matter how bogus such as BitCoin or CryptoCurrencies have value!
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1 year 1 week ago
I agree with you ;) I was just not sure about the sens of the word scam in the mouth of the OP.
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1 year 1 week ago

My Hat off to Anoox answers and of course Anoox members for exposing what a total SCAM, well beyond SCAM, Bitcoin was when CNBC, Fox, ABC and other Wall Street based media sources, aka FAKE News, where hyping this BitCoin as the next great "American Dream" money making scheme. My hat off to you all :)
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1 year 1 month ago

It is described as digital money, which maintained by software rather than being backed by a Major Central Bank. And it's speculative with wild price swings.
I'll never buy it cuz I can't afford the risks.
Here an article that described Bitcoin as a bubble: http://www.gojoyer.com/news/show-39.html
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1 year 4 weeks ago
BitCoin only has value because various elements of the right-wing Media, aka Ultra FAKE News, such as CNBC, Fox Business, etc. pushed and hyped this nothing on the People. Otherwise, BitCoin and other so called "digital money" are absolutely worthless unless and until major Central Banks recognize them as "Currency" or "Money", which they will NOT, because for a "Currency" to actually be "Money", actually have value as such a Nation with its Banking system needs to so designate it.
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1 year 1 month ago

People are calling BitCoin all sorts of nasty names, like "worse than a scam." If it were truly worse than a scam, why would anybody participate in it? Just because some idiots on the news talk about it? I don't think so.

BitCoin is given as a reward for using the power of your computer to solve increasingly complex algorithms; this procedure is called "mining." There is only a certain amount of BitCoin available, so it's a scarce resource, hence the perception that is has value. Here's an unbiased resource for how it operates: https://en.wikipedia.org/wiki/Bitcoin

Basically, it's meant as a decentralized currency for people who don't trust big banks or national governments.

That said, I don't plan to "mine" or purchase any BitCoin, and you probably shouldn't either. It's speculative and prone to wild fluctuations at any point, for any reason. Mr. Money Mustache makes a good case for why you should ignore it: http://www.mrmoneymustache.com/2018/01/02/why-bitcoin-is-stupid
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1 year 1 month ago
I should update with this, which is itself linked at the mrmoneymustache post: https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/

Preston Byrne argues, like many people here, that it is a pyramid-style scheme. Note that some pyramid schemes are legal (e.g. Avon, Amway, Mary Kay), but regardless of their legality, it's not a good idea to participate in them.
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1 year 1 month ago
Also, this blog post does a good job of explaining cryptocurrencies in general: https://blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80
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1 year 1 month ago
"If it were truly worse than a scam, why would anybody participate in it"
Because People do fall for SCAMs. That is the freaking definition of SCAM!
And who is perpetuating this Mega SCAM? CNBC and other organs of Wall Street right-wing lying machine, aka FAKE News.

A great demo of this fact was this morning, when I had the unfortunate of watching CNBC for 10 Mins, in it they had a segment about Bitcoin:
1st they alluded to this Guy in Malibu that is selling his $45-Mill mansion and accepting
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1 year 1 month ago
Bitcoin for part of the payment. But wait a minute, she could not show us the beach because she was their at night time! Then she goes on to say that this ONE guy who is accepting Bitcoin for his Malibu mansion, which means 99.9999999% of people in Malibu are not, this one guy "Wei Chei" super Rich guy, he actually going to accept Bitcoin for part of the price of the House, but she does not know what percentage of the price he will accept in Bitcoin, etc. non-sense.

And then she is filmed
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1 year 1 month ago
being in a Bitcoin "mining operation"! And what is the Bitcoin mine, it is a server room in Washington State where this dude is getting rich Mining Bitcoin!

MINE is where you move Billions of Tons of earth to Mine a valuable Metal ore, not a freaking server farm which any dude can set up in days.

Then it gets better, or WORSE: CNBC reporter then tells these servers that are mining Bitcoin are "Special servers", "That cannot be purchased anywhere" WHAT. WHY! Are these Magic servers?

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1 year 1 month ago
Well then she tells us these magic servers that are "Mining Bitcoin", can only be obtained from one supplier in China. WHAT! WHY!

And the SCAM and lies goes on and on, by CNBC about this Bitcoin, just as they lie about issue after issue, from State of Healthcare in USA being a catastrophe for 100-Million Americans because it is not operated on Socialized basis like rest of the developed World, to War after War reasoning USA is engaged in, to now this nothing Bitcoin being hyped as being Mined
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1 year 1 month ago
by Magic Chinese servers to pay for (some) of the price a $45-Million mansion in Malibu, etc. crap and lies.

Now if you find all of the above issues too complicated to grasp, here are KEY reasons why Bitcoin is beyond SCAM:

1- Anyone, you and me, can run a few lines of "Block Chain" code to create "Crypto Currency", name it Bitcoin or ZitCoin or TitCoin

2- Couple of servers running DOES NOT mine anything

3- For a currency to have value Central banks need to accept it. NONE accepts Bitcoin
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1 year 1 month ago
Floog, WT has done a great Job of destroying some of your Key points, well the key talking points about BitCoin, but here is another!
That is you said and BitCoin pushers actually say:
"...for people who don't trust big banks or national governments."

So you dont trust the Governments of USA, Europe, etc. but you are going to trust an Anonymous, repeat an Anonymous, person with pseudo name of Satoshi who is the Guy, not country, but the guy, behind BitCoin!
You know how crazy that sounds!
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1 year 1 month ago
I'll reiterate--"That said, I don't plan to 'mine' or purchase any BitCoin, and you probably shouldn't either. It's speculative and prone to wild fluctuations at any point, for any reason."

It's not, repeat NOT, an investment! It's speculative.

The point of Bitcoin and other cryptocurrency is not that you're trusting the person with this "Satoshi Nakamura" pen name; you're trusting the cryptographic system that he designed. I'm not a computer scientist and cannot fully evaluate the system.
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1 year 1 month ago
Cryptocurrencies like Bitcoin only have value if people agree that they have value. Traditional currencies work in much the same way (https://en.wikipedia.org/wiki/Fiat_money), except that they have gov backing. Trust can be easily taken away; we'll have to see what happens in the future with Bitcoin & other cryptocurrencies.

As for whether WT has 'destroyed' my 'key points,' the readers may decide. People are welcome to read the links I posted and make up their own minds on the topic.
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1 year 1 month ago
My conclusion is that it is not a scam, but that doesn't make it an investment, either.

Deal with cryptocurrency at your own risk, and never put more money into it than you can afford to lose. Something (e.g. cryptocurrency ban) could easily happen tomorrow that would scuttle the value of Bitcoin to near-zero. Traditional currencies like the dollar, yen, rand, etc. are far less volatile.

If you put money into a cryptocurrency, treat it like going to a casino.
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1 year 1 month ago
It is just total non-sense to say:
"you're trusting the cryptographic system that he designed"

What the hek does that mean! Why would that make for a currency!
Again Bitcoin only exists because CNBC and other organs of Wall Street based Media, as their game of screwing with mind of American People have been hyping this junk. As per the example of the 2 reports by CNBC reporters just this freaking morning.

And then you, as well as the BS Machine on CNBC have say this gem:

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1 year 1 month ago
"Cryptocurrencies like Bitcoin only have value if people agree that they have value. Traditional currencies work in much the same way"

Traditional currencies have value because the FULL FAITH of US Government, European Union, UK, China, etc with all their Armies, Navies, Bridges, Dams, Taxing abilities, etc. are behind these "Traditional currencies".

Cryptocurrencies like Bitcoin have absolutely NO such FULL FAITH of a Nation behind it. Again it is just a code by some anonymous guy!


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1 year 2 weeks ago
So a gov promises that money is worth something, therefore it is?! Do you believe every promise made by every politician? If you don't trust their promises for anything else, why trust their promise that currency is worth something? Govs are, after all, run by politicians...

Look no further than Zimbabwe in 2007: https://www.forbes.com/sites/stevehanke/2017/10/28/zimbabwe-hyperinflates-again-entering-the-record-books-for-a-second-time-in-less-than-a-decade/
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1 year 2 weeks ago
If you're not sure what I mean by "trust the cryptographic system that Nakamura designed," you should read the links I posted above. They do a good job of explaining how the system.

Some people have more faith in mathematics/computer logic than in the decisions of politicians and economists working for a government. The fact that those people agree that cryptocurrencies are worth something are what gives it its value, just like cigarettes are valuable as 'currency' in a prison.
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1 year 2 weeks ago
You all need to watch a documentary on Bitcoin call "Banking On Bitcoin!"

It tells the incredible journey of how the coin came to be, obtained great wealth quickly...then almost got the boot cause of silkroad...
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1 year 2 weeks ago
Bitcoin and the crypto exchanges are no different than the stock exchanges of fiat.
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1 year 1 week ago
PeteFaquino, no that is 99% false. That is whereas Stock market is reflecting the value that a Company can create, from Airplanes they make, to Food they sell, etc. BitCoin reflects NO value at all. BitCoin and all these Crypto Currencies are worthless ZERO real value entities since for a Currency to have value a Government needs to back it, or since anyone can run the Block Chain code to crate their own Crypto Currency. So as others have stated only reason BitCoin got its value is due to CNBC
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1 year 1 week ago
and other right-wing Media outlets due to their nefarious reasons pumping this.
Now this is not saying that the current stock market is properly valued, it is not. It has been going Up and Up and Up for no good reason but so because the Wall Street cabal behind Trump is pumping it up so that Trump can say look:
'"MAGA" because stock market is up. When the fact is USA is one of the most miserable nations among all OECD Nations, as you can see from state of Healthcare in USA, mass shootings, etc
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1 year 1 month ago

till u r earning its investment, if u lost then its scam... simple.. this is the theory of every winner and looser...

rest u can read this ...

*** SPAM FILTERED ***
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1 year 1 month ago
WRONG & WRONG.
A SCAM is a SCAM whether you are winning or loosing. But again BitCoin is even worse than a SCAM. BitCoin only has so called Value until another bigger fool will pay you more for it, Otherwise it has ZERO real value, since no Central Bank or National Government is backing it with ZERO value or faith. So what BitCoin demonstrates is the power of the right-wing Media, aka Fake News, to hype and push any idea no matter how worthless whether it being BitCoin or Iraq War, etc. because BitCoin has been pushed and hyped by CNBC and other such right-wing Media outlets, without whose coverage BitCoin would have been at its real value which is Zero.
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1 year 1 month ago

To call BitCoin a SCAM is to give the word SCAM a very bad name. What BitCoin shows is the power of Wall Street based Media, in particular CNBC to push any garbage, and 10s of Millions like sheep will fall for it. Because if it was not for CNBC hyping and pushing this nothing, then no one would have heard of it. Just like CNBC in 2009 via rant by Santelli, hold your breath, gave birth to the TEA Party. Mother Fakers have no shame :(
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1 year 1 month ago
Very well said. Here is another way of saying the same:
BitCoin is the FAKE Currency, pushed and hyped by the FAKE Media. Which Fake Media also pushed and hyped the Fake President Trump, so Fake that he looks at the Camera and by some Osmosis says: "Repeal and Replace ACA (ObamaCare) with TrumpCare, because then we are going to have the BEST Healthcare in the World", even though TrumpCare will add 10s of Millions of Americans not having Healthcare on top of 10s of Millions who already do not.
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1 year 1 month ago
WOW! Sad but True :(
How strange things have become in USA the home of Fake News, Fake President, Fake reason for Wars, Fake etc. !!!
okorieemmanuel
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1 year 1 month ago
Bitcoin is simply an electronic currency. You can get free bitcoin using this link. ****
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1 year 1 month ago
Bitcoin is Not a currency at all. A currency has these Key features which BitCoin does not have at all:

1- It needs to be backed by a Major Central Bank - NONE backs Bitcoin
2- Banks need to accept it as a Currency - NONE accepts Bitcoin
3- It needs to be available as Cash or Coin which you can hand over to merchants - this is 99.9999% a NONE too

Moreover, anyone can run the simple (block chain) code behind BitCoin and crate BooCoin, JimCoin, DickCoin, JaneCoine, etc.
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RealTime
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1 year 1 month ago

Thank GOD I read on Anoox what a worthless nothing BitCoin is last year and avoided putting money into this scam unlike CNBC that was pushing this junk last year. You all saved me close to $50,000 which I was going to put into this toilet called BitCoin that did not. So anyone that has any doubt as to the power of Anoox in getting the truth out based on the Crowd, should have that doubt put to rest by this further example.
Kudos to Anoox community :) Kudos.
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1 year 1 month ago
1st, it is total insult to word SCAM to call it BitCoin a SCAM, it is really something far far worse. 2nd, my Hat off too to Anoox being the one of the 1st places that one could clearly see the facts as to what a super nothing BC is and to stay away from it. Really shows that Crowd Wisdom if allowed to channel, can deliver.
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1 year 1 month ago

So BitCoin has fallen like 50% over last few days.
My hat off to Anoox for exposing what a total fraud and SCAM BitCoin was and is.
Really this is the one place one can count on to get the best answers and the Truth at all time.
I mean while CNBC was hyping and pushing BC based on its price going up and how X had got rich off it, you people here pointed out the fact that there is no underlying value to BC at all!
Good job to you all. Anoox really shows the power of the Crowd Wisdom! Question is then what price will BC go to? And is there any digital currency that can be of value?
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1 year 1 month ago
Really my Hat off too to Anoox and Anoox community for exposing yet another SCAM, this time the ultra SCAM that was and is BitCoin. Anoox is showing the power of "we the People", aka Crowd Wisdom, like no where else. I tell you People who were smart enough and fortunate enough to be getting their intel from Anoox have saved Billions on this BitCoin Super Bull Sh*t.
RealTime
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1 year 1 month ago
Y2G & LR, you can add me to the list of the People that thanks to Anoox Answers did not buy into the BC mania that was being pushed by CNBC and rest of the Wall Street charlatans and saved my hard earned money thank you.
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1 year 2 months ago

Bitcoin at even 1 Cents is too much value. Since anyone can run a few lines of Codes to create another so called Crypto Currency such as BitCoin and call it JerryCoin, PutinCoin, LarryCoin, IdiotCoin, etc.

So to say that Bitcoin is a SCAM is indeed giving SCAM a very bad name, that is how much of SCAM BitCoin is. Or any of these so called digital coins in someones basement by running few lines of code.
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1 year 1 month ago
Bitcoin at even 1 Cents is too much value. WOW! Really!
This means it is going to drop $12500 in value? How long will this take?
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1 year 1 month ago
How long, is a moot question, since the powers that were pumping this worthless junk can pump it again via CNBC and Fox. But the fact remains that BC is no currency, as it has been called on CNBC and other Fake News services as being (digital) currency since for something to be a currency it needs to meet these criteria:

1- At least 1 Central Bank and all resulting Banks of that Country need to be accepting it. ZERO Central Bank accepts BC.
2- There needs to be a hard version of that so
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1 year 1 month ago
called currency. So that you can trade it as Cash. There is NO such form of BC. On that note, think that whenever Fake News such as CNBC, Fox, etc. showcased articles on BC they used an image of a BC Coin which DOES NOT EXIST! And in fact they made the non existing BC coins look like 1 Euro Coins and not 1 US Dollar coins. Such as in this total FAKE lie of an Article on CNBC:

https://www.cnbc.com/2017/12/18/central-banks-will-hold-bitcoin-and-ether-in-2018-blockchain-ceo.html
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1 year 2 months ago

Bitcoin is the ultimate demonstration of how some People follow the sheep, to slaughter.
And how the Big Media can hype anything they want to any ridiculous levels.
For BitCoin has as much real value as ZitCoin. Which is NONE. ZitCoin being the block chain based Coin that my 5 Years old put together in our basement. At least with my 5 Years, we know what his name is, with BitCoin we do not even know that since BitCoin was was created by the fictional Satoshi Son. Or some ridiculous made up name like that.
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1 year 2 months ago
And just think today, BitCoin went up $8000 to $19000
Man have these People no shame!
Feast your eyes on the SCAM of the Century:

https://www.cnbc.com/2017/12/06/bitcoin-tops-13000-surging-1000-in-less-than-24-hours.html
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1 year 2 months ago

As the bitcoin rate in booming you could make good money if you already had bitcoins and now sell it.

These days people still says bitcoin is going 10k+.. not sure about it.
RealTime
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1 year 2 months ago
But WHY?
Based on what fundamental facts is BitCoin even worth $1 set aside $9000?????
A currency such as USD, Euro, etc. has the FULL faith and credit of their respective Governments behind them. What does BitCoin have behind it? NOTHING. So it is the Ultimate SCAM.
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1 year 2 months ago
Yes, I believe too.

I personally do not want to work in bitcoin but as we can see how bitcoin is growing. Possible, this is only a trick to us trust in the digital transaction. As we already know the government is planning to make it so easy for people.
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1 year 2 months ago
Webfuel, what are you talking about? As Realtime has well demonstrated, and this question goes to anyone who is Bullish on Bitcoin or touts BC as an investment or a buy: "Based on what fundamental facts is BitCoin even worth $1 set aside $9000?????"

In that question, and your lack, or anyones lack, to be able to answer that question coherently, we have all the proof that we need that BitCoin is just a Hype driven by Big Media and has no real value otherwise.
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1 year 2 months ago
EP, it is very telling as to what a SCAM this BitCoin is, that when you ask the BitCoin Bulls, supporters, etc. as to:

"Based on what fundamental facts is BitCoin even worth $1 set aside $9000?????"

Their only answer is, look the price of BitCoin has been going up, so it must be of great value. Which is the ultimate proof of what Mania driven bubble this is. But in fact this is far beyond a bubble, i mean you can have Bubble in Stock X, but Stock X has an underlying value, CB has NO real value
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1 year 2 months ago
Sarah, very well said. This is essentially the point that anyone who looks at reality has been making about BitCoin. That unlike the currency of a Country that is backed by all the Natural & Human & Military resources of that Country, BitCoin has ZERO such underlying intrinsic value.
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1 year 2 months ago

What is BitCoin: Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Right in that fact you have all proof you need as to what a joke BitCoin is, after all it is created by an anonymous person, repeat an anonymous person.

Now what is a Currency such as US Dollar, Euro, British Pound Sterling, etc.? For example US Dollar is: The Currency of the United States of America and its insular territories per the United States Constitution and backed by the full faith and might of the US Government.

So the value of a Currency is based by the faith, put simply the economic power of the Nation behind it.
As such BitCoin has NO value. ZIP nothing.
To say that BitCoin is a SCAM is giving SCAM a very bad name.
RealTime
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1 year 2 months ago
Gurd, i like it. You have really pointed out lucidly why BitCoin is beyond a SCAM.
Really BitCoin at 1 Cents to USD or Euro will be 1 Cents too much.
I just correct you on 1 thing: To say that BitCoin is a SCAM is giving SCAM a very very very bad name.

And BRAVO to Anoox again as being the place that "We the People" can get the best answers out, can get the Truth out. Because few other places have so well established the fact that bitCoin is worthless.
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1 year 1 month ago
Yes bitcoin is worthless that is why i just gave my wife $1000 of our bitcoin earnings to her prepaid bitcoin visa card so she can go shopping.
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1 year 1 month ago
Well except that your Wife will not be able to buy Squat with the Bitcoins you gave her. So the fact that BitCoin is a worthless nothing since it is a non-currency created by an anonymous person, remains True. The fact that you made some money on BitCoin because some other brain dead person paid more for it, does not change the fact that BitCoin is a worthless nothing. It is like saying that you have earnings from playing the BlackJack, that does not make BlackJack a real source of "earnings".
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1 year 1 month ago
There is a lot of fear, misinformation and salt in the air. That's ok I'm sure the people who didn't believe electricity was real did fine too.
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1 year 2 months ago

Bitcoin is the hottest topic right now and there is a lot of info and opinions floating around. You can't call it an investment. At best it would be a speculation. The price fluctuation is huge and the risks are high. The problem with Bitcoin is the unknowns. Will the government regulate it, what happens if you get hacked, what happens if the hacker takes all your Bitcoins? Will IRS come knocking if you purchase something with Bitcoin? If you have some extra cash, maybe you can buy a few and hope the value goes up.
RealTime
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1 year 2 months ago
Reporter, that is some of the most sound thinking I have read about BitCoin.
Good Job man. Specially the bit you say:
"You can't call it an investment. At best it would be a speculation. "
It is a speculation on steriods the like of which not seen. I hate to see how much so many are going to loose on this. It is going to be ugly.
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1 year 2 months ago
RT, glad you enjoyed it. But it is rather obvious that Bitcoin is at the best an extreme speculation. After all, it is a form of currency but NO central Bank in the World accepts it!
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1 year 2 weeks ago
"Speculation on steroids"--that's a pretty good summary!
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1 year 2 weeks ago
BitCoin at 1 Cents is an extreme "Speculation on steroids", since anyone can run the BlockChain Code and create their own so called "Crypto Currency". And then all you have to do is to get CNBC and other elements of right-wing Media to Hype your newly created XCoin. Which means these so called "Crypto Currency" are indeed at above 1 Cent to US Dollar a total SCAM, or even worse.
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1 year 2 months ago

*** SPAM FILTERED ***
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1 year 2 months ago

Bitcoin is a worldwide cryptocurrency and digital payment system or digital cash. It is the first decentralized digital currency, as the system works without a central administrator. It is a peer-to-peer transaction that eliminate the middle man.
It is an electronic currency and there is a limited number of bitcoins that gets minned by special computer software. The larger the demand, the more the price goes up.
Since Dec 2016 the price jumped from around $800 per bitcoin to $9,750 as of today or 1,218% (approximatly 20% per month). It is expected to keep rising further as more and more people are buying bitoins. There are many investment companies out there but one company is paying 1.5% daily for 15 days starting at $35. The more you invest the more interest you get on your investment. The link is below for reference. I have personally invested over $1,000 and I reinvest my profit whenever my account reaches $35.
****
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1 year 2 months ago
BitCoin seems like the ultimate SCAM. It makes the Tulip Mania look like a Chump change. After all how can you call Bitcoin a "currency", when:

1- NO Central Bank accepts it as worth a Penny

2- 99.99% of Merchants in the World, online or offline, do not accept BitCoin

RealTime
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1 year 2 months ago
Rpt has it right on the Money. How can you call Bitcoin a "currency" given the fact that just about no one except Bitcoin owners will accept it!
I mean look at the top 100 Sites in the World, NONE of them accepts it.
Look at even this non-profit Anoox search engine, which is way in front of all People empowering stuff, it does not accept it.
etc.
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1 year 2 months ago
With respect to your opinions but you need to update your information about the blockchain technology and its adaptaion.

Scam requires hidden information, but bitcoin is open sourced.

As for Tulip Mania, If an asset is held only to trade it away later, and it fails to become money, the bubble pops and it becomes worthless. Search for "who accepts bitcoins as payments": Microsoft, Dell, Wikipedia, subway, overstock, Expedia, etc...
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1 year 2 months ago
Banks and governments are fighting Bitcoin and they are not winning so they have to go with the flow. Six new banks: Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG, and State Street, join UBS, BNY Mellon, and several others to create new Cryptocurrency!

Over and above, on 4th of April Japan started accepting Bitcoin as legal payment method and as of 27th of Nov the largest underground shopping mall in South Korea, Goto Mall will have 620 stores to accept bitcoin.
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1 year 2 months ago
On 1st of Oct 2017, the local government of Dubai became the first government to launch its own state cryptocurrency. The official launch of a state-sponsored cryptocurrency or digital token is called emCash, it will be available to citizens of the U.A.E. to pay for governmental and nongovernmental services alike.
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1 year 2 months ago
Where in GODs name do "Microsoft, Dell, Wikipedia, subway, overstock, Expedia" accept BitCoin as Payments! They do not. And that is again the KILLER fact about BitCoin, that NO bank accepts it as a payment nor do 99.99% of merchants. So why certain segments of Media such as that Wall Street piece of Sh*t CNBC and Putins Rt.com are pumping this BitCoin is really amazing.
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1 year 2 months ago
Companies' announcement about accepting bitcoins:
https://support.microsoft.com/en-us/help/13942/microsoft-account-add-money-with-bitcoin
https://blog.dell.com/en-us/we-re-now-accepting-bitcoin-on-dell-com
https://blog.wikimedia.org/2014/07/30/wikimedia-foundation-now-accepts-bitcoin
https://www.coindesk.com/tag/subway
https://www.overstock.com/bitcoin
https://www.expedia.com/Checkout/BitcoinTermsAndConditions
neez1967
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1 year 2 months ago
Banks Accepting bitcoins:
https://www.cryptocoinsnews.com/400-european-banks-accept-bitcoin-purchase-agreement
https://www.247exchange.com/news/view?id=21

I hope you can find these information useful.
RealTime
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1 year 2 months ago
Neez, yes of course there are a few sites that accept Bitcoin, but again that is 0.01% of the Sites, which makes Bitcoin pretty useless but a highly speculative trading tool. With the last Men standing, getting totally burned. For example, there are NO Airlines that accept Bitcoin, NO major Hotel chains that accept Bitcoin, etc. And those Banks you listed accepting BitCoin, there are NO Banks.
That is they are not part of the Federal Banks so your deposits there are worthless.
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1 year 2 months ago
And you know that link about Dell accepting BitCoin you listed. Have you gone to that page? it says:

"[UPDATE] Due to low demand, Bitcoin is no longer available as a form of payment. Our apologies for any inconvenience this may cause. You can still complete your purchase through a number of alternative payment options such as PayPal, all major Credit Cards, and Dell Financial Services."
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1 year 2 months ago
RT, I think you have nailed it as to what a Ponzi scheme this BitCoin is, by pointing out the fact that Dell which is one of few legit places to have accepted BitCoin, has stopped accepting it. Lets not even mention that Dell buried this news that they were accepting BC so deep under the radar that not many even knew about it.
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1 year 2 months ago
Go to and see all these companies that accepts Bitcoins. https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins

While you're picking on small issue to create an excuse to convince yourself and others not to get into Bitcoins and other cryptocurrencies rather than trying to go with the flow, the price of bitcoin jumped form $9,750 to near $11,400.
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1 year 2 months ago
Here is another list for a few Airlines and ticketing agent that accepts bitcoins just to name a few.
https://www.cryptocoinsnews.com/att-american-airlines-accept-bitcoin-voucher
http://www.businessinsider.com/bitcoin-price-8-surprising-places-where-you-can-use-2017-10/#egifter-6
https://news.bitcoin.com/star-jets-international-now-accepts-bitcoin-payments
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1 year 2 months ago
If Dell stopped accepting bitcoins then i missed it, but you missed so many other companies without researching. However, it is obvious that showing facts is not acceptable to you, then.

Whatever it was that got you were you are today is ont sufficient to keep you there and if you keep doing tomorrow what you've been doing today and expect a change, then this is the definition of insanity.

It is a thousand times better to try and fail rather than trying with the fear of failure.
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1 year 2 months ago
Quoted

Attention bitcoin bears: You'll be able to bet against the digital currency in one month

"I think sometime in the second week in December you'll see our [bitcoin futures] contract out for listing," Terry Duffy, chairman and CEO of CME, says Monday on CNBC's "Power Lunch."

"Today you cannot short bitcoin," Duffy says. "So there's only one way it can go. You either buy it or sell it to somebody else. So you create a two-sided market, I think it's always much more efficient
neez1967
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1 year 2 months ago
It is a thousand times better to try and fail rather than "NOT" trying with the fear of failure.
GurdMuller
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1 year 2 months ago
Neez, stop drinking the CoolAid. bitcoin is as Worth while as if YOU or ME or another Bozo prints an Online Currency tomorrow and calls it ZitCoin.

Now there are fundamental reasons why BitCoin, or ZitCoin, or KitCoin, etc. are totally worthless, which are that NO Nation is backing them up, which is the only way that a currency has any Value.

But also as RealTime told you, you can have further proof of this fact by the fact that 99.999% of merchants and 100% of real banks dont accept it.
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WillianChagas
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3 years 11 months ago

As transações são verificadas, e o gasto duplo é prevenido, por meio de um uso inteligente da criptografia de chave pública. Tal mecanismo exige que a cada usuário sejam atribuídas duas "chaves", uma privada, que é mantida em segredo, como uma senha, e outra pública, que pode ser compartilhada com todos. Quando a Maria decide transferir bitcoins ao João, ela cria uma mensagem, chamada de "transação", que contém a chave pública do João, assinando com sua chave privada. Olhando a chave pública da Maria, qualquer um pode verificar que a transação foi de fato assinada com sua chave privada, sendo, assim, uma troca autêntica, e que João é o novo proprietário dos fundos. A transação – e
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4 years 6 days ago

There is a good Article about why Bitcoin should be avoided here:

http://www.slate.com/articles/news_and_politics/view_from_chicago/2013/04/
bitcoin_is_a_ponzi_scheme_the_internet_currency_will_collapse.html
RealTime
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4 years 6 days ago

Europal, has done a great job of explaining why only complete idiots, Criminals or People who dont know nothing will convert their Money into Bitcoin. I will just add that at the best Bitcoin is a Ponzi scheme, for a Currency that is not accepted by any Government is as valuable as a Money that you print yourself and get a few of your friends to say it is valuable. So a Coin (Money), or Metal (Gold) has value only if the Governments of the World say it has values, otherwise it is a worth less junk at best.
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4 years 1 week ago

Bitcoin is an attempt at a Digital Currency, one that would allow you to buy & sell online anonymously. However, it fails at that objective on multiple grounds. 1st of which for a Digital Currency to have value it needs to be accepted by the Merchants online. However 99.99% of the Merchants do not accept Bitcoin, thus rendering it a useless currency and worst a waste of your Money should you convert it into Bitcoin since Bitcoin has another serious flaw and that is that its value wildly gyrates Up & Down, without any Government oversight of such gyrations. And that is its 3rd fatal flaw, and that is NO Government or equivalent of a Federal Bank accept Bitcoin in exchange for any real (Government issued and Backed) Money.
RealTime
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4 years 6 days ago
Very well said. Probably the best summary explanation of why Bitcoin is really a Joke at best.
Reporter
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4 years 6 days ago
Yes, you are right on the money with your expose.
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doobiedoright
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4 years 1 week ago

It is a currency play created out of thin air.Probably to late to make much from it as it is expensive to "mine".
I would direct you in another direction to acquire wealth. Message or E-Mail me and I will show you how!



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