Author Topic: Bitcoin: Scam or Currency?  (Read 4774 times)

pipthom

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Bitcoin: Scam or Currency?
« on: April 18, 2013, 06:07:27 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 »

mayrick

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Re: Bitcoin: Scam or Currency?
« Reply #1 on: April 26, 2013, 07:03:22 PM »
Its true.  Ive read arguments on both sides and the writer of this post makes the most sense to me
« Last Edit: January 01, 1970, 01:00:00 AM by Guest »

queshadesta

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Re: Bitcoin: Scam or Currency?
« Reply #2 on: May 04, 2013, 08:22:22 PM »
I was patient at the beginning and we had promised two days ago that he would set up a page yesterday to remove our bitcoins, something that has not been done! :D
« Last Edit: January 01, 1970, 01:00:00 AM by Guest »

andyreynolds

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Re: Bitcoin: Scam or Currency?
« Reply #3 on: August 29, 2013, 04:07:48 PM »
Must be patient, perhaps there are things to correct, swiftcoin and bitcoin point to be strong currencies in the future

andyreynolds

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Re: Bitcoin: Scam or Currency?
« Reply #4 on: September 03, 2013, 05:06:45 PM »
There are people afraid about e-currency or digital currency, i think they are not agree with technology enhances

andyreynolds

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Re: Bitcoin: Scam or Currency?
« Reply #5 on: September 04, 2013, 09:21:04 PM »
all the people think if appears something that works really good is scam... bitcoin and swiftcoin are platforms developed to avoid cheat or ilegal transactions

andyreynolds

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Re: Bitcoin: Scam or Currency?
« Reply #6 on: September 05, 2013, 05:53:51 PM »
Bitcoin is an ecurrency total recommended and offers a lot of benefits for us, but i prefer swiftcoin, because is a version enhanced of the other pltform

andyreynolds

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Re: Bitcoin: Scam or Currency?
« Reply #7 on: September 10, 2013, 01:09:12 AM »
bitcoin was created to give stability in emergency economies, and allow to the user of this ecurrency make transactions like send money in an easy way

mayrick

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Re: Bitcoin: Scam or Currency?
« Reply #8 on: September 18, 2013, 11:23:10 PM »
Bitcoin is a currency, it works very well. I prefer Swiftcoin but I don´t think bitcoin looks like a scam.

mayrick

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Re: Bitcoin: Scam or Currency?
« Reply #9 on: September 28, 2013, 02:58:20 AM »
Is not a scam, maybe some people want to talk bad about it or they just don’t know how to use it and report it as a “bad experience”. But the rest of the people use it and like it, so I don’t see a problem with that.