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Question - Topics: Economy, Stocks & Bonds, Scams & Frauds
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shevamann
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Posted On: 2017-11-27 07:55:02
Viewed: 1300
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: 39
kronos_cfect
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2 years 10 months 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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2 years 10 months 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.
Europal
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2 years 10 months 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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2 years 10 months ago
Very well said. Probably the best summary explanation of why Bitcoin is really a Joke at best.
Reporter
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2 years 10 months ago
Yes, you are right on the money with your expose.

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doobiedoright
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2 years 10 months 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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