Economist slams bitcoin as ‘mother of all scams’

Discussion in 'Digital Currencies' started by ozcopper, Oct 16, 2018.

  1. dozerz

    dozerz Well-Known Member Silver Stacker

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    mmm....shiney! likes this.
  2. willrocks

    willrocks Well-Known Member Silver Stacker

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    Why is "cash" so much better than crypto? If history tells us one thing, it's that a centrally controlled money supply doesn't work.
     
  3. dozerz

    dozerz Well-Known Member Silver Stacker

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    i might start comparing bitcoin to a potato, cant hold it in my hand, no value as i can make chips out of potatoes, zero starch content in bitcoin, bitcoin doesnt even look like a big ole bag of potatoes. i concur bitcoin has no value over a potato.
     
    sellmeyourbullion likes this.
  4. dozerz

    dozerz Well-Known Member Silver Stacker

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    but its unlimited, we can simply print more when we need it and dilute the value, genius.
     
  5. Ag

    Ag Well-Known Member Silver Stacker

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    Shiney - iCenter (https://icenter.co/) was a ponzi scam claiming to 'bot trade' cryptos offering insane returns (i.e 3-5% per day return). The site was running from beginning of the year but went down few weeks ago and remains with the 'under maintenance' splash screen. I don't think any investor will be seeing their dollars or cryptos anytime soon. Its not a stab at the crypto's as numerous scams target different groups everyday. I think crypto's were picked in this case as many investors had little knowledge on them and only saw the yield. Pretty easy to pay 3-5% per day return on small investors and have them leave glowing testimonials. It just sucked the bigger boys in with deeper pockets then poof! gone...

    Ok dividends with more tokens wasn't what I was thinking either? Not sure if I class that a dividend but each to their own. Cash dividend does show a better business model than 'printing' another token

    Dozer - I politely disagree that the number of forum members here pre December 2017 talking/investing in cryptos reflects a wider crypto audience. Most (if not all) members here are looking/learning about alternative investments beyond dollar's. Your average investor wouldn't know the difference between a coin or a round. No stab at missing the top as agree few can pick a top/bottom of any market with any accuracy. If they do its more likely shear luck or pure @rse. My point was I'm sure investors 'would be disappointed to have not sold out and brought the dip since'

    SlyGuy has made many valid points about the difference which I personally agree. The argument comparing to a potato is obviously silly. The discussion is comparing two alternative investment classes

    Just check coin market cap (https://coinmarketcap.com/) for the biggest moving Alt coin in last 7 days. TRONCLASSIC has returned 7042%! WFT! (https://coinmarketcap.com/currencies/tronclassic/) Surely you must see where the post title comes as 'mother of all scams' ?

    Bitcoin took the shine and investment dollars off the metals. Now history is repeating with Bitcoin loosing its shine to Alt coins
     
    Last edited: Oct 25, 2018
    mmm....shiney! likes this.
  6. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Ag, these dividends as tokens are quite easy to convert into cash if desired, although if you’re already converting cash into crypto then the dividends as tokens are a bonus. But I take your point.

    On the topic of SlyGuy, I haven’t seen a valid comment from him regarding crypto yet. Lots of unjustified opinion but nothing valid.
     
  7. JOHNLGALT

    JOHNLGALT Well-Known Member

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    Just for all of you [email protected]$, latest from Egon von Greyerz:
    January 12 (King World News) – Egon von Greyerz: “This week I will discuss Fed bubbles and a potential imminent major market event, including an extremely important chart. But first, the week has been overshadowed by Iraq and Iran, which again has reminded us of terrorism in various forms.

    Terrorism is not just an act of violence. Cyber attacks can have devastating effects like paralyzing air traffic or making all of your digital assets disappear.

    LINK BELOW.
    You can thank me later for the WARNING. _JOHNLGALT.
    https://kingworldnews.com/one-of-egon-von-greyerz-most-important-articles-ever/
     
  8. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    Egon gobbles donkeys
     
    Last edited: Jan 21, 2020
  9. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    If you ever needed any more proof that Schiff is a deadset muppet....see below.

    Peter Schiff Loses Access to Bitcoin Wallet, Then Admits He Forgot Password – Noted crypto skeptic Peter Schiff tweeted that he has lost access to his Bitcoin wallet and that his password is no longer valid- declaring Bitcoin the ‘worst investment he ever made.’ Before realizing that he was entering the wrong password.

     

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