Poll of the Day > Is bitcoin a scam?

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wah_wah_wah
11/26/17 10:45:13 AM
#1:


Or cryptocurrencies in general


I have a couple friends that are into bitcoin and don't stop talking about how much money they're making. I'm thinking of starting a crypto called Tulipcoin because I think the whole thing is a bubble.
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Judgmenl
11/26/17 10:50:07 AM
#2:


No, but like all speculation markets you can't predict the coins success.

I could have gone in on Bitcoin back in 2010 but I choose not to. Biggest mistake I ever made. Same thing with Eth. Could have gone in on Eth last year but I choose not to.

But yea I made $12k on Stocks this year.
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wah_wah_wah
11/26/17 10:53:08 AM
#3:


Judgmenl posted...

I could have gone in on Bitcoin back in 2010 but I choose not to. Biggest mistake I ever made.

Why is it even a mistake? There are thousands of things any one person could invest in that end up making zero money, particularly on the Internet.
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SKARDAVNELNATE
11/26/17 11:54:02 AM
#4:


Pretty much it only has value because people assign value to it. The same could be said for cash. However, unlike cash, retailers are not required to accept cryptocurrencies as a form of payment. Therefore cryptocurrencies are more of a barter commodity than a true currency.
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Gamechamp3k
11/26/17 12:15:36 PM
#5:


Bitcoin itself isn't a scam, but its nature has seen many scummy people trying to take advantage of it.
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helIy
11/26/17 1:44:20 PM
#6:


yes, so if you have any i'll dispose of it for you
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TheCyborgNinja
11/26/17 1:45:34 PM
#7:


No, but theyre risky. You need to cash in and cash out without getting greedy. Mark Cuban hit the nail on the head with only invest what you can and treat it like youve already lost it.
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Unbridled9
11/26/17 1:53:52 PM
#8:


No. It's not a scam. But you should be aware that China has a massive hand on its value and can control it somewhat through their media. So how successful you'll be will likely depend on how China is feeling.
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old_school227
11/26/17 3:25:03 PM
#9:


I thought it was 7 years ago, the one time my intuition let me down.
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JOExHIGASHI
11/26/17 4:13:04 PM
#10:


Judgmenl posted...
No, but like all speculation markets you can't predict the coins success.

I could have gone in on Bitcoin back in 2010 but I choose not to. Biggest mistake I ever made. Same thing with Eth. Could have gone in on Eth last year but I choose not to.

But yea I made $12k on Stocks this year.


It wasn't a mistake because there was no way to predict how it would be doing today. It could have been banned in between now and 2010 or crashed and not recover. Since the only use of bit coin is you can buy illegal things like drugs, guns, slaves, etc.
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shadowsword87
11/26/17 4:20:03 PM
#11:


It feels weird that it's something my dad is talking about a thanksgiving...
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Cacciato
11/26/17 5:27:46 PM
#12:


JOExHIGASHI posted...
Judgmenl posted...
No, but like all speculation markets you can't predict the coins success.

I could have gone in on Bitcoin back in 2010 but I choose not to. Biggest mistake I ever made. Same thing with Eth. Could have gone in on Eth last year but I choose not to.

But yea I made $12k on Stocks this year.


It wasn't a mistake because there was no way to predict how it would be doing today. It could have been banned in between now and 2010 or crashed and not recover. Since the only use of bit coin is you can buy illegal things like drugs, guns, slaves, etc.

Theres plenty of legal things to buy with bitcoin
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wah_wah_wah
11/26/17 9:16:39 PM
#13:


I'm wondering if there's any way I have bitcoins without even knowing it. Wasn't utorrent mining for coins back then?
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Cacciato
11/26/17 9:18:03 PM
#14:


But in JOE's defense I bought $150 back in June to actually buy illegal things with and didnt ever spend it. I'm up to about $520 now so I'm just letting it ride at this point.
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Lokarin
11/26/17 9:18:11 PM
#15:


It's a legitimate as any fiat currency
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TheCyborgNinja
11/26/17 9:18:29 PM
#16:


Unbridled9 posted...
No. It's not a scam. But you should be aware that China has a massive hand on its value and can control it somewhat through their media. So how successful you'll be will likely depend on how China is feeling.

Well, Xi Jinping looks really nice, so I say we trust it then.
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Zeus
11/26/17 9:44:48 PM
#17:


No, not by any normal definition.

wah_wah_wah posted...
because I think the whole thing is a bubble.


Bubble =/= scam
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