Submit “Funny Money: Why Bitcoin Is a Scam Why Bitcoin Is a Scam You probably heard of the digital cash after it was rocked by sudden changes in value. - All purchases have an expiration date , depending on how many 2uhash acquired. Bitcoin also doesn t magically help money launderers and drug dealers either. If it sounds too good to be true, it probably is. Bitcoin has no value outside of the real money people have paid. Then a little boy runs up, squeezes through the crowd and says Hey. Meaning that to verify 1 bitcoin, it has a long history of transactions to validate it s existence. Cost to mine greater than rewards In order to generate any kind of respectable potential outcome, you have to make a large up front cost in hardware investment, something on the order of $2000 - $4000 in ASIC mining hardware 5000 bits bitcoins. Take your profits before they evaporate before your virtual eyes. Currently there is holes in the timing of bitcoin transactions and how the blocks get solved. I suspect the technology was invented by a certain governement that want a faster way to process certain transactions that currently takes several days to process.
This happens in everyday life everywhere and should be null. A monetary miracle of 21st century and frantic journalistic quest for recovering the true identity of a mastermind behind it 5000 bits bitcoins. Just for people who say you can t shut off bitcoin. Because then it s nothing but a lesser form of the supporting currency. - All withdrawals are processed at 11: 30hr time Peru. What about earning interest on my Bitcoin balance. If you save paper money, one day people do not trust paper money anymore. Previous buyers who sold for a profit win. Worth $7,000 - $10,000 heading for $200,000. Put simply, I don`t care if it is money, it wont be accepted here. If you are looking for a good explanation in detail of the problems with Bitcoin look up Peter Schiff on youtube.
Also,because of the limited number of transactions daily (relative to other exchanges), the currency valuation will always be extremely volatile, which is what you re already seeing with Bitcoin. The money value most related to something that has a physical value you now can say me that also standard money have no physical value. But if I catch it just right, and get out JUST IN TIME, then I will benefit while the last ones in lose their money.Civic.. You can choose not to buy in to it but that s different from a scam. Avoid this base of the pyramid scam and think about the destination I am hypothesizing. Reminds me of brokers who insist their clients buy a stock as they (brokers) bought it at a bargain-basement-rate and are now waiting for the suckers to bit it up. The US prints dollars without gold backing. Do not invest in or buy into a so-called currency that makes nothing, harvests zero resources, offers no services/labor, has zero assets recognizable outside of bitcoin, and even the founder of the idea (scam) is an unknown. .BitShares.Zcash. ChainLink.