The Wolf of Wall Street says Bitcoin is a scam

Nobert said:
I read it once. Wanted to reply, then stopped.
Then read it again, to be sure that i got it correct.

This is a narrow minded point of view, that comes from one of these 3 :
  1. limit of knowledge
  2. limit of understanding
  3. or ignorance.
Nova days , one doesn't need an army, to pump it up ;
there are multiple ways, to do the same.
And there are interest groups, to do so.



So it's either a bubble or a scam, is that what are you saying ?
A bubble - can't be a scam at the same time
and a scam - can't be a bubble ?


Disclaimer :
i say that it is a scam, and people can call it a bubble, euphoria, new money, whatever, for me it's a fundamental garbage only used by criminals. Wonder if those universities in Cyprus, still accepts it as the payments, thus i will send them one of those, and since the crap ,,will go to one million'', my grand-grand-grand-grand-grand (20x more) children, will have free education.
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With that logic everything can turn out to be a scam. Goldman Sachs being the biggest scammers on the planet starting with Abbey Cohen.

And no i am not saying it cant be a scam and a bubble at the same time. I am saying this is may be a bubble and it is NOT a scam.

There are groups on both sides of the coin here. You choose which one to listen to. Both sides make a point. A scam to me is knowingly telling people a lie. Like he and his soldiers did for many years. Telling people earnings where going to quadruple next quarter when the company didn't even have revenues. Or what Maddoff did, taking money from one to give to the other under the pretense that it was invested. peace.

I'll take option number 3. Super ignorant :D Which option are you?
 
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ElCubano said:
it is NOT a scam.
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So it started as an idea, turned into a scam and became a bubble ?
Or fundamentally it is a very legit product, that is not a scam at all, just in a bubble right now, like some RE market ?
 
Nobert said:
So it started as an idea, turned into a scam and became a bubble ?
Or fundamentally it is a very legit product, that is not a scam at all, just in a bubble right now, like some RE market ?
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Again you tell us what makes it a scam. I already replied above.
 
ElCubano said:
Again you tell us what makes it a scam. I already replied above.
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Man you're escaping your own words, by replying with questions.

Not only that, you edited message above (#21), after i answered.

What makes a scam ?

Fundamental garbage used by cartels and manipulators - is that a scam or not ?
 
Nobert said:
Man you're escaping your own words, by replying with questions.

Not only that, you edited message above (#21), after i answered.

What makes a scam ?

Fundamental garbage used by cartels and manipulators - is that a scam or not ?
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No, I replied what a scam is to me and I am asking you what a scam is to you. That's all. That's what the edit button is for, to add or delete some stuff. Anyways I don't think its a scam and you do, that's what makes the world a beautiful place. Take care Norbert.
 
Pekelo said:
Take your pick:

1. Original issuers, miners.
2. Anybody above you in the pyramid.
3. Anyone who still pushing the original claims that have been proved to be lies.
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if i buy today and sell at a higher price to you tomorrow how does that make me a scammer? cmon guys talk sense here.
 
ElCubano said:
if i buy today and sell at a higher price to you tomorrow how does that make me a scammer? cmon guys talk sense here.
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I was just about to answer your scammer question, so here it goes.

Cryptos are scams in a way that they are grossly misrepresented. The original claims about bitcoin turned out to be about 80% not true. Google them, I am too lazy.

Bitcoin is like a stock in a company, where the fundamentals are not kosher, the books are cooked, the management is incompetent and there is huge competition. Can you make money trading such a stock? Sure.

I always say, go ahead, trade bitcoin. No problem as long as you are aware of the risks. And don't be a cultist and push the original claims (fast, cheap, anonymous, deflationary, limitless, etc.) because that makes YOU a scammer too. And acknowledge the fact that there are better and technologically MORE advanced cryptos. So if you are in it for the technology, you should have switched already.

But if you are still clinging to BTC because you are invested in it, that just makes you a scammer. I am sorry.
 
Pekelo said:
I was just about to answer your scammer question, so here it goes.

Cryptos are scams in a way that they are grossly misrepresented. The original claims about bitcoin turned out to be about 80% not true. Google them, I am too lazy.

Bitcoin is like a stock in a company, where the fundamentals are not kosher, the books are cooked, the management is incompetent and there is huge competition. Can you make money trading such a stock? Sure.

I always say, go ahead, trade bitcoin. No problem as long as you are aware of the risks. And don't be a cultist and push the original claims (fast, cheap, anonymous,etc.) because that makes YOU a scammer too.
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I've never owned. Looked at it when it was $150 but it was a pain in the ass to buy. That's a great answer, thanks for taking time to elaborate.
 
The idea is not a scam, the implemention is. I said it here many times, if everyone had to deposit real cash to buy it, it would be a real asset. But when I have to deposit cash, but BitFinex just creates tethers out of thin air and uses them to buy it as well, it is scam.
 
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