Shropshire Slasher User ID: 4586351 United States 07/18/2014 09:56 AM Report Abusive Post Report Copyright Violation | BITCOIN and why it is a scam Just hear me out.
Why, if I found a source of wealth, would I tell ANYBODY about it?
If I found a shipwreck of gold, I wouldn't tell a soul.
So now THINK....
I start up this trading currency for video games that takes a long time to EARN credits in the game so I offer an option to BUY faster credits.
So, beyond that.
If I was trying to capitalize on others ignorance and greed to get rich by doing nothing by using Bitcoin, I would have to create a lot of HYPE.
I HYPE people to buy in, that sends the price up. More people see the price go up and they jump onboard. This process continues for a while and the people that got in and dumped before people were truly educated made out.
Its nothing but a ponzi/pyramid scheme. It will end with education. Or if the power goes out. At least you could use cash in a power outage.
Bitcoin is like a semi-anonymous PayPal You buy Bitcoins to be "anonymous". You purchase ONLINE with "anonymous" currency Bitcoin locked in escrow until you receive your item. Bitcoin released to seller if all is fine. Seller either cashes out or buys more goods to resell.
The price can totally be manipulated. If you want to buy an ounce of weed, you aren't going to OVERPAY with $600 Bitcoins. It remains linear. If not, why not go buy that weed on the street? |
Anonymous Coward User ID: 58837555 United States 08/01/2014 01:15 PM Report Abusive Post Report Copyright Violation | Re: BITCOIN and why it is a scam Correction: it's use will be widely accepted BECAUSE of education and even more so as technology progress. Adapt or get left behind. |