Author Topic: Bitcoin: Scam or Currency?  (Read 2081 times)

Offline pipthom

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Bitcoin: Scam or Currency?
« on: March 27, 2013, 03:47:42 PM »
On the one hand you have legal tender which is established, recognized and sanctioned that you can really spend for real world items. You are taking that money and exchanging it for Bitcoin which has extremely limited uses cases, limited spend venues, questionable exchange rates, limited denominations coupled with low supply, no governmental backing, not being recognized by governments and other authorities and the high probability that it will be used for less than legitimate purposes, and this is presently what Bitcoin is.  Looking at all of this coupled with giving some random entity real money in exchange for ‘Bitcoin’ can be easily seen as a highly speculative scam.  It has a high probability to be or become a scam and, at the same time, make someone (or a few someones) very rich with real legal tender in the process… possibly your supplied legal tender funding violence or other unsavory uses.

On the other hand, you have a possible new digital currency that could succeed if it gains enough traction in various marketplaces.  However, the risk vs reward for Bitcoin is clearly too high for real currency use.  So, that leaves speculation and collectability almost the entire reason to buy into the idea of Bitcoin, if that’s a reason at all.

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« Last Edit: January 01, 1970, 01:00:00 AM by Guest »

Offline droper

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Re: Bitcoin: Scam or Currency?
« Reply #1 on: May 18, 2013, 12:12:04 PM »
Quote from: "pipthom"
On the one hand you have legal tender which is established, recognized and sanctioned that you can really spend for real world items. You are taking that money and exchanging it for Bitcoin which has extremely limited uses cases, limited spend venues, questionable exchange rates, limited denominations coupled with low supply, no governmental backing, not being recognized by governments and other authorities and the high probability that it will be used for less than legitimate purposes, and this is presently what Bitcoin is.  Looking at all of this coupled with giving some random entity real money in exchange for ‘Bitcoin’ can be easily seen as a highly speculative scam.  It has a high probability to be or become a scam and, at the same time, make someone (or a few someones) very rich with real legal tender in the process… possibly your supplied legal tender funding violence or other unsavory uses.

On the other hand, you have a possible new digital currency that could succeed if it gains enough traction in various marketplaces.  However, the risk vs reward for Bitcoin is clearly too high for real currency use.  So, that leaves speculation and collectability almost the entire reason to buy into the idea of Bitcoin, if that’s a reason at all.

Read More Here
Hi pipthom,
I don't have any, but I remember reading this the other day,most people love swiftcoin,  Thanks. :)
« Last Edit: January 01, 1970, 01:00:00 AM by Guest »
Pour des sensations plus fortes, je suggère AUD et/ou NZD avec en face: USD, JPY, EUR, how to start forex trading.

Offline demo

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Re: Bitcoin: Scam or Currency?
« Reply #2 on: May 28, 2013, 10:13:32 PM »
Hey guys,
 
i'm interested by Bitcoin.
 
Thanks
J\'ai fait la demande Titirus, cela doit être dans les tuyaux, et pas dans les tiroirs je l\'espère.

Offline mguzman0921

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Re: Bitcoin: Scam or Currency?
« Reply #3 on: September 18, 2013, 09:50:36 PM »
Bitcoin is a currency, it´s not bad. This coin works good, but I prefer Swiftcoin.

Offline rossy

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Re: Bitcoin: Scam or Currency?
« Reply #4 on: September 20, 2013, 05:21:55 AM »
No me fue mal con esta moneda electrónica, tiene cosas para mejorar pero funciona bien.

Offline mguzman0921

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Re: Bitcoin: Scam or Currency?
« Reply #5 on: September 20, 2013, 09:40:28 PM »
I don't think Bitcoin is the worst, it works ok but I feel like Swiftcoin is more stable and better.