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/biz/ - Business & Finance

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24131264 No.24131264 [Reply] [Original]

sorry, I know this board probably gets 1 million threads a day on this topic but I need a quick answer.
IS BITCOIN A SCAM. ARE THE PEOPLE WHO PROMOTE BITCOIN SCAMMERS WHO JUST WANT TO BENEFIT OFF NOOBS FLOODING THE MARKET.

>> No.24131355
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24131355

>>24131264
Yes, Bitcoin is the biggest ponzi in history

>> No.24131392

Hi OP, if you want to take the time to really understand it, I suggest listening to Raoul Pal or Michael Saylor - they are the most articulate and break it down very well relating to the current state of the world. One of them is a famous hedge fund manager and the other is a rocket scientist billionaire entrepreneur. For a more technical overview check out Andreas Antonopoulos.

>> No.24131399
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24131399

>>24131264

absolutely a scam

>> No.24131418

>>24131264
all crypto is a scam, don't ever buy any. in fact you should just leave this board altogether it's a huge waste of time

>> No.24131444

>>24131264
GO BACK TO R . EDDIT YOU NIGGER FAGGOT

>> No.24131448

>>24131264
Yes is a scam, stay away from it.

>> No.24131473

>>24131264
no its not a scam sir please buy bitcoin it make you rich trust me isnt scam its legit

>> No.24131486

>>24131264
Token not needed

>> No.24131507

>>24131264
yes there's absolutely no use case for it you might as well just get rid of it all send it to me i'll take it off ur hands

>> No.24131529
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24131529

>>24131264
You have to go back. Go back to sleep and let the autists make their money in peace. You can buy in when we're at 250k.

>> No.24131533

>>24131264
please buy eth sirs

>> No.24131539

>>24131264
BTC is now a corporate pump and dump by Pooptooth Saylor

>> No.24131548

>>24131264
100% scam, we bought back when it was $300 and have been dropping bags on you newfags ever since

>> No.24131567

Sounds like magic monopoly money to me

>> No.24131612

>>24131392
dont listen to them, theyre just scammers shilling their bags, especially michael saylor

>> No.24131629

>>24131392
I listened to the two and they had an interesting chat.. Are these guys legit? Im worried because my father has invested a decent bit into crypto.. he watches a youtuber called ivanontech.

>> No.24131646

>>24131529
never happening retard, better luck to you in your next life Ranjeesh
>>24131612
100% this

>> No.24131659

>>24131264
YES
dont bother with it

>> No.24131665

Thanks guys. Is there any other scams I should look out for besides btc?

>> No.24131677

>>24131629
I recommend reading Attack of the 50 Foot Blockchain by David Gerard if you want some honest material on crypto.

>> No.24131703
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24131703

>>24131629
>ivanontech

>> No.24131737

>>24131629
>ivanontech
Good god, your dad watches him? How old are you? Be honest, 4?

>> No.24131749

I can see the majority of these replies are against it.. my dad has a decent bit invested. he says that it will shoot up eventually. should i try warn him, i'm not articulate in this area so what should i say?

>> No.24131782

>>24131737
19 lol. whats wrong with ivan?

>> No.24131803

>>24131392
Saylor is a newfag. if you want to understand, look for andreas antonopolous.

>> No.24131855
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24131855

>>24131264
Bitcoin is the most based creation ever that said do not buy and go back

>> No.24131944

>>24131264

Its a scam all crypto is a scam. Leave this board or you fall for the scams and be poor forever

>> No.24131972

>>24131749
dude you're on a crypto board asking if crypto/ BTC is a scam
most people here are invested

>> No.24131990

>>24131782
His target audience is very young and hopeful trader types. I can't tell if you're larping but Bitcoin isn't something that you can process in a few hours on 4chan, and 4chan isn't the place to ask this type of incredibly basic question without people getting a few laughs at your expense. Again, if you're really interested in it keep researching it on your own.

>Is it a scam
I'm not even sure how someone can question this viewpoint if they've done at least a modicum of research on it. And you'd have to define what you mean by a "scam". Again, DYOR.

>> No.24132028

>>24131972
>dude you're on a crypto board asking if crypto/ BTC is a scam
I don't browse this board. I heard that bitcoin is a ponzi and it has me really worried for my father. what should i say?

>> No.24132071

Should I sell using paypal or some other method?

>> No.24132096

>>24131972
there are maybe 100 regular users and we all stay contained in /smg/ and /pmg/. Then there's 10 or 15 pajeet scammers who autistically spam this board with shitcoin threads in hopes of tricking naïve youngsters like OP to put their Christmas money into some shitcoins.

>> No.24132104

>>24131990
Unfortunately my illiteracy in this topic isnt a larp. im genuinely worried for my dad. he has a decent bit of cash in it and he thinks it will shoot up in the coming years. is it clearly a scam? i will do my own research but i just needed /biz/ approval

>> No.24132116

>>24132028
Tell him to sell it all.

>> No.24132118

It is a giant scam but it is OUR giant scam

>> No.24132145

Fuck.you figured it out. Pack it up boys.

>> No.24132159

>>24132028
You seem to lack an ability to make judgements based on criteria of your own accord. That's much more of a concerning issue than your father.

>> No.24132173

>>24132116
how do i convince him? any material that i should read/ watch that i could show to him? I cant just tell him to sell when he is clearly more invested in this area than me. im rly worried anon.

>> No.24132172

>>24132104
You should sit down with your dad and explain to him calmly that he will lose all his money. It is essentially your future money he is gambling.

>> No.24132179

Anyone else think OP is a massive fagget, i thought this was a joke? His serious.. OP fuck off

>> No.24132193

>>24132104
>is it clearly a scam?
absolutely. but don't take our word for it. like the other guy said DYOR.

>> No.24132213

>>24132179
boomers potentially getting scammed out of their life savings is not a joke anon. this isn't funny.

>> No.24132227

>>24132213
I thought this was over in 2018, it's fucking sad desu

>> No.24132237

>>24132159
im 19. i browse 4chan for shits and giggles and here i am asking financial advice from a bunch of randoms on accord of my dad. i just wanna get some idea of this sit. what would you say to your dad in this situation?

>> No.24132255

>>24132173
Yo, Michael Saylor has a pooptooth. Don’t listen to that scammer

>> No.24132341

>>24132237
why do you want to give advice to your dad about something you know nothing about?

There are smart people who think Bitcoin is worthless and there are smart people who think it will be worth $200k within a few years. There's no 100% clear answer as to what Bitcoin is worth and that's why it's so volatile.

>> No.24132385

Doesn't matter what people say. If you don't do your own research, you'll never know.

>> No.24132416

>>24132237
> i am asking financial advice from a bunch of randoms

Also, your question is too broad. Come back when you have a specific question or concern. Or, use a different word than scam. Is it a Ponzi? A quick perusal into the definition of what a Ponzi should resolve that question within a few minutes.

>> No.24132464

/biz/ is going to get this kid beat up by his dad

>> No.24132491

>>24131264
Lol

>> No.24132516

>>24132416
yea im sorry for taking up a space on the catalog with this shit tier thread. i know you guys probs get these threads a lot. i just heard someone use the words "btc is a scam" and it instantly had me worried knowing how much my dad is invested. i will bring up some of the points made here to him and ill let him decide from there on.

>> No.24132545

>>24132237
The only people more retarded than you are the people on this board, don’t come here for advice, your dad knows more than you do, stop being a fag

>> No.24132549

>>24131264
BTC is not a scam.
But it's a centralized shitcoin ruled by the chinese communist party.

>> No.24132619

>>24132545
>your dad knows more than you
he does man, im just worried is all. im obv not going to explain to him that btc is a ponzi with little to no knowledge on the matter. its just that its a lot of money man, and im only starting college. my dad has worked hard all his life to get where he is and i dont want him to get fucked over by some snake oil. just figured these autists might have an idea.

>> No.24132668

>>24132619
Everyone in this thread saying it's a scam is fucking with you, but that doesn't mean it's a good investment.

>> No.24132675

>>24132619
>my dad has worked hard all his life to get where he is
Your a good person anon.
It is not a scam, at least that's where my money literally is. No one knows where the price is going. Do a little research. Google "stock to flow Bitcoin".

>> No.24132696

>>24132213
Step dad called me earlier this morning asking for an etf that holds a mix of crypto. He honestly believes in it. This really was the top.

>> No.24132717

>>24132675
>>24132668
thanks anons

>> No.24132723

>>24132619
Crypto is a high risk volatile investment, it’s not smart to put all of your money into it, it’s also worth putting some money into, Ive made a lot from it
If you take anything away from it it’s to not invest more than you’re willing to lose

>> No.24132740

It wasn't designed as a scam, but it is 100% speculation based and massively overinflated

>> No.24132800

>$10? scam!
>$100? ponzi!
>$1000? scam!
>$10000? ponzi!
You are here
>$100000? scam!
>...

>> No.24132825

You won't know until you think about it for years and then you'll buy.

>> No.24132827

>>24131264
Yes it’s a scam, their blocks are puny and it’s not even written by the real Satoshi who is Craig Wright. How will you ever be able to pay for a coffee without big blocks? Useless.

>> No.24132871

>>24131665
gold

>> No.24132885

>>24131486
> token not needed
There isn’t even a token, as such.

>> No.24132902

>>24131264
>is bitcoin a scam
no
>are the people who promote it scammers
lol no bitcoin's market cap at the time of this post is 345 billion US dollars and the general public (retail) don't have enough buying power to move that kind of market in any meaningful way.
That being said, if you're a noob and you're thinking about buying in that means someone else is thinking about selling.

>> No.24132973

>>24132028
Why don’t you trust your father’s judgment? Does he have a history of catastrophic decisions?

>> No.24133008

>PayPal approved payment method is a scam

And this is how I know we will go to 100k. Because there are still hoardes of idiots who will buy only "get it" last second and buy the very top.

>> No.24133027

>>24132516
For my entertainment, what are these “points” you think you have extracted from this thread? I haven’t seen a single one.

>> No.24133050

>>24133008
You're probably dumber than any of them even though you'll stumble your way into owning a few btc.
>my trusted corporate overlords at paypal told me it's not a scam so it's guaranteed!

>> No.24133053

>>24131264
yea lol its a pyramid scheme dont buy bitcoin.

buy gold instead it's totally not a ponzi and it's 100% way better than scamcoin!

>> No.24133073 [DELETED] 

>>24133008

ltc is also paypal approved. and so is bch. i am repeatedly told those coins are scams.

>> No.24133104

>>24133073
They are not scams, they are just ill advised. BSV is a scam. BTC is the most honest project in computer science history.

>> No.24133127

>>24133104
Since the post I replied to was deleted, I said ltc and bch aren’t actual scams.

>> No.24133214

>>24131629
kek

>> No.24133279

>>24131264
Hi newfren. Yes it's a scam. The only way to make money is to walk up to the factory owner, look him in the eye and give him a firm handshake and say "Mr. Shekelbergsteinowitz, I'm the man for the job"

>> No.24133299

>>24132675
>Google "stock to flow Bitcoin"
Bitcoin didn't used to be a scam but at some point around 2016 it became clear there were problems that needed to be fixed for bitcoin to ever function legitimately. At this point the Jews whipped everyone into a frenzy and made sure bitcoin would stay broken. Now you have scammers inventing stupid shit like "stock to flow" as a kind of faux technical jargon to make what is essentially a ponzi sound legitimate.

>> No.24133356

>>24133299
Ugh god, we are so early somehow 11 years in. I can't imagine being in this space since the beginning, can you imagine them reading things like this? How much longer is this level of naivety viable?

>> No.24133390

>>24131264
Right now it's a scam, buy when I it's 200k

>> No.24133444

>>24133356
>Ugh god, we are so early somehow 11 years in
No. I hold more bitcoin than you ever will even though I sold most of it since it's a piece of shit. You're late.

>I can't imagine being in this space since the beginning, can you imagine them reading things like this?
That's obvious since you seem to have no idea how stupid you sound to non newfags.

>> No.24133540

>>24133444
Not everyone that holds Bitcoin is intelligent or can comprehend the significance of it. Based on the history of its price, many were simply in the right place at the right time.

>> No.24133543

>>24133356
Roger Ver was here the entire time. Some people are just midwits, lots of people in this industry that pretend they know what they're talking about because they made a little money but have never touched code in their life or anything else really. They hold talk at conferences year after year but still don't have the slightest idea how anything works or how to dress in the morning.

>> No.24133558

>>24132237
I imagine your face to be a target for bullies you come off like a fag too. Maybe make decisions for yourself? Unless this is just some gr8 b8 m8

>> No.24133562

>>24133050
Imagine being this big of a salty nocoiner cuck and not rubbing 2 brain cells together for 1 second to see how this is going to put upward pressure on demand. Why don't you stop protecting and buy BTC instead anon?

>> No.24133658

>>24133562
>pressure on demand
Did I say anything about buying pressure?
>PayPal approved payment method is a scam
As if it's hilarious to even suggest that Paypal would support a scam. BTC is great but OP is a smart kid and you're dumb faggot.

>> No.24133723

>>24131629
10/10 larp

>> No.24133774

>>24133562
What is it about the modern world that makes the dumbest, most illiterate retards think anyone wants to hear their inane shit? Aren't you at all embarrassed by your stupidity and incompetence?

>> No.24133818

>>24131264
can i buy shit at the store or amazon with bitcoin?
Will i ever be able to?
if not then yes its a scam

>> No.24133881

>>24133818
Good point, now I understand why Gold is a scam too.

>> No.24134267

>>24133818
>Will i ever be able to?

YES@!@!@!@!@!@!@!

>> No.24134287

>>24133818
Yes you can

>> No.24134366

>>24133818
Lots of places accept bitcoin anon

>> No.24134422 [DELETED] 

>>24134366
>>24134287
*maybe, but

YES!@!@!@!@!@!@!@!

>> No.24134497

Bitcoin was originally intended to be digital money, but since it can't scale to the number of transactions/second necessary to function as such, the narrative has changed. There are now two arguments as to why Bitcoin should be worth anything:
1. It costs money to "mine," therefore it has to be worth at least as much as the mining cost or else no one will mine it. This is called a sunk cost fallacy.
2. It is "scarce." Because everything rare will always go up in value. I've got at least $500K in Beanie Babies on my shelf right now going by this logic.

Bottom line, that's it. Any other arguments you see about fundamental value for Bitcoin can be applied to its competitors at least as much, and usually more. So is it a scam? Pretty much, yeah.

>> No.24134566

>>24131399
>kakegurui
Absolutely atrocious taste

>> No.24134585

>>24133562
You can buy it on PayPal, but you can't export it to your own cold wallet. Why even bother? It's not used as digital cash and the block size won't be raised enough to make it worthwhile to use as digital cash. >>24133540
Yeah if you were lucky enough to buy $100 of BTC in 2011, you literally had to do nothing and became a multi-millionaire waiting 6-9 years to do so. The speculation of BTC is a scam. Printing USDT to prop it up is a scam. Flooding the market with 10,000 useless tokens is a scam. Centralized exchanges going offline and holding your keys is a scam.

>> No.24134651

>>24134497
I just want somewhere to park my money and lend it out with a little interest. When I was growing up I was told I could always get 10% returns so that's what I planned my goals around. Now I can only get that through crypto. The most secure, liquid and public facing crypto is BTC.

>> No.24134703

>>24131264
Bitcoin is for retards at this point. You can break it down into retards, psychopathic retards, and people who cannot sell until it's green, but overall, just retards.

>> No.24135625

>>24133540
Cope. You neglected the biggest trend of our day for a full decade. You're not the intelligent one. We watched people like Saifedean and Tone Vays emerge in 2016/17 and were amused by how stupid they they are. It's shocking how big they've become and an indictment on the quality of todays noobs. Sure, some dumb people got involved early by chance but you haven't seen dumb until you look at the people joining crypto recently.

>Not everyone that holds Bitcoin is intelligent or can comprehend the significance of it.
The difference between then and now is then the price was low so it was worth the risk. You guys now act like it's a certainty btc succeeds and it will cause world peace or something.

>> No.24135758

>>24134566

Some things are more important than taste

>> No.24135909

>>24135625
The risk was much higher at lower prices, low volume meant a big sell dumped the market much harder, the tech was untested and the goals were unclear.
I was speculating before. I now want to keep a large portion of my money in BTC because it's the best place to keep it. The speculation about the future is over, it's confirmed as correct. This year crypto made orderbooks obsolete and anyone can get decent yields market making. That's not a small step forward it's a complete restructuring of how markets will work from now. The more bankers and governments fight the more they dig their own graves. At this point it's like horses vs cars. The guys insisting on sticking with horses simply lose.

>> No.24136062

>>24135909
>The guys insisting on sticking with horses simply lose.

It depends on how they can rig it. I thought the same about the music industry but they managed to put it in a jar again.

>> No.24136175
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24136175

>>24131355
Checked and no. That title goes to Social Security.

>> No.24136221

>>24131264
find the average look of the average bitcoin user and you got your answer

>> No.24136343

>>24131264
as Far as I understand it it could actualyl revolutionize our entire economy and monetary system. Imagine it as if every product, service, company, project etc can have its own coin, and the more trust people put into it, the more they gain from it, aswell the project/company/product whatever, thus it is more worth producing it while also gaining the capability to increase its production. It'd be a more organic and direct form of Economy. And this shit can be extended to even govt institutions etc... So yea the Paradigmchange might be Cryptocurrencies. It'd literally change the way of most of peoples lifes. I see crypto as an opportunity as back then the internet was in the early days.

>> No.24137098

>>24135909
>The speculation about the future is over, it's confirmed as correct.
This is what I mean. Bitcoin today is a ponzi based on utter delusion.

>> No.24137481

>>24131264
Yes. Only buy xrp

>> No.24137741

>>24137098
You would have a point in 2017 but I don't need you anymore. I don't even need the price to go up, that's just a bonus.

>> No.24138613
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24138613

>>24131264

A scam? No. It's just incredibly overbought due to current market failure to accurately price in downside risk of government intervention.

Said intervention will come in the form of coins getting trapped in custodial wallet ecosystems, merchants being forbidden from accepting it, or CBDCs being deployed which will quickly displace it (one way or another). Or all of the above and more.

Buying privacy cryptos can give exposure to general crypto market upside while mitigating a lot of the Bitcoin-specific potential downside.

>> No.24139212
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24139212

>>24131264
>Is Bitcoin a scam?

If you are to lazy to read or to watch some YouTube videos, then yes it is a scam. We don't want normies like you in our space. Unless you want te get fucked over. In that case buy BSV

>> No.24140211

>>24131264
>IS BITCOIN A SCAM
fiat is the scam m8

>> No.24140258

>>24131264
Yes
Don't buy this crap, also it's completely overprice
18 THOUSANDS WTF???
Anyway, you should get into NANO, great coin waaaaaaaaaay cheaper so this means you'll get higher gains
Don't hesitate if you have any question, we're trying to be a welcoming community :-)

>> No.24140591

no it isn't a scam.
only buy now if you've got a steel balls to hold otherwise just buy when it dips to 9k anon

>> No.24140708

>>24132104
My recommendation is tell your dad that it's scam downright and if he comes at you with "proof of work" or "blockchain" or "21 million" just say "IT'S JUST A BUNCH OF 1 AND 0S YOU ARE WASTING ALL OUR MONEY" and cry

>> No.24140801

>>24133050
I just think it's interesting how people trust PayPal with millions of dollar in cash but the moment PayPal says you can buy Bitcoin there everyone says you're getting scammed out of Bitcoin and they can just keep them.

Goes to show you how valuable people hold Bitcoin really

>> No.24141219

>>24132172
>>24132193
>>24140708
kek, why are you guys lying to the poor lad

>> No.24141272

>>24141219
If we didn't choose the chaos path everytime we were presented with the option, we wouldn't be here

>> No.24141279

>>24141219
xd my poor REDDIT LAD XDDDDDD

>> No.24141283
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24141283

>>24140258
>We're trying to be a welcoming community :-)