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Is cryptocurrency (bitcoin, ethereum, ripple) etc a scam?
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No, I don't think it's a scam. I know many people invest and gains much from bitcoin earning as long as they have knowledge about bitcoin mining. I found and used a calculator on the web comparing different cloud mining sites and it was helpful. If you want to invest in bitcoin mining without the hassle of managing your own hardware, you can try this alternative. Hope it helps.
Certainly food for thought! Hoping to provide some more food...
I'm not sure I agree that the big players (we could call 'institutional money') like JP Morgan have 'got in' yet, because the infrastructure for such enormous buys of cryptocurrencies is pretty shaky right now. JP wouldn't go to an exchange that you or I may use... they'd need a bigger operation to buy from. Hence, they're buying up exchanges (e.g. Circle) and creating their own over-the-counter (OTC) platforms.
Also, regarding private blockchains. You're right... private blockchains are going to represent a lot of the use-case of blockchain tech by big business. However, there will still be a need for a private blockchain to talk to other chains - whether that be to communicate with other private entities or with the public (service/product users). This is what's called 'interoperability', and is a big market in itself, which projects like Cardano are looking to work on.
I'm not sure I agree that the big players (we could call 'institutional money') like JP Morgan have 'got in' yet, because the infrastructure for such enormous buys of cryptocurrencies is pretty shaky right now. JP wouldn't go to an exchange that you or I may use... they'd need a bigger operation to buy from. Hence, they're buying up exchanges (e.g. Circle) and creating their own over-the-counter (OTC) platforms.
Also, regarding private blockchains. You're right... private blockchains are going to represent a lot of the use-case of blockchain tech by big business. However, there will still be a need for a private blockchain to talk to other chains - whether that be to communicate with other private entities or with the public (service/product users). This is what's called 'interoperability', and is a big market in itself, which projects like Cardano are looking to work on.
I wouldn't invest in any of the Cryptocurrency.
Scam? No. Of course not, it’s just a form of currency, I’m not sure you fully understand it.
Similarly like tye US dollar is not a ’scam’ or investing in a company is not a ’scam’
But it’s just very very risky atm as it’s so new and hasn’t stabilised. It could rise tenfold or go right back down to the ground, nobody knows. 50k at this point is not something I would invest on crypto, it could make him a linnionaire yes but he could also lose it all...
I hope he really understands the risk (and can afford to lose that 50k!) before plunging in. If so, it’s his choice.
Similarly like tye US dollar is not a ’scam’ or investing in a company is not a ’scam’
But it’s just very very risky atm as it’s so new and hasn’t stabilised. It could rise tenfold or go right back down to the ground, nobody knows. 50k at this point is not something I would invest on crypto, it could make him a linnionaire yes but he could also lose it all...
I hope he really understands the risk (and can afford to lose that 50k!) before plunging in. If so, it’s his choice.
Cryptocurrencies, in general, are no scam. The reason is simple: nobody can cheat math. Governments are able to print new money, and that can be considered cheating by simple common sense. Additionally, for each transaction, they take some money back in taxes and fees, so it’s double cheating. To back this system up, and governments need police and military, which also cost a lot, and guess who pays for that, too.
It means that we finally have a possibility to exchange value without depending on any government or bank. This is a big deal. It means people get the power back, and this is exactly why the governments are trying their best to stop the cryptocurrencies. But they cannot win against math.
For example, in this crypto blog the author explains why it works in that way.
It means that we finally have a possibility to exchange value without depending on any government or bank. This is a big deal. It means people get the power back, and this is exactly why the governments are trying their best to stop the cryptocurrencies. But they cannot win against math.
For example, in this crypto blog the author explains why it works in that way.
(edited 6 years ago)
Today many people have realized that crypto can be a profitable business. I read about Best sites to buy Bitcoin recently, according to experts of ICO Pulse the best sites for buying bitcoins for the purpose of storage or payment are online exchangers. I'm going to use some of them to buy crypto. It seems to be a good investment for the future.
(edited 5 years ago)
A good way to buy, as for me
Original post by EternalLight
My sisters husband wants to invest £50,000 into cryptocurrencies but is this stuff actually legit? It's just digital money I don't understand why people buy it.
He briefly explained the process but this is what criminals use to buy dodgy stuff right? I've been looking at it a little bit and the return on investment is unbelievable. Ethereum has had investment from JP Morgan, Microsoft and others and rose 4000% in value in 6 months.
It just seems too good to be true. Then I read about ripple and apparently 150 banks around the world are adopting it including RBS, Bank of Amercia and Bank of Abu Dhabi.
Is this just one giant scam or does cryptocurrency actually hold real world intrinsic value, like gold?
He briefly explained the process but this is what criminals use to buy dodgy stuff right? I've been looking at it a little bit and the return on investment is unbelievable. Ethereum has had investment from JP Morgan, Microsoft and others and rose 4000% in value in 6 months.
It just seems too good to be true. Then I read about ripple and apparently 150 banks around the world are adopting it including RBS, Bank of Amercia and Bank of Abu Dhabi.
Is this just one giant scam or does cryptocurrency actually hold real world intrinsic value, like gold?
https://www.bbc.co.uk/iplayer/episode/b09s3wbt/panorama-who-wants-to-be-a-bitcoin-millionaire watching this may help
It seems to me that this will not help much
Original post by EternalLight
My sisters husband wants to invest £50,000 into cryptocurrencies but is this stuff actually legit? It's just digital money I don't understand why people buy it.
He briefly explained the process but this is what criminals use to buy dodgy stuff right? I've been looking at it a little bit and the return on investment is unbelievable. Ethereum has had investment from JP Morgan, Microsoft and others and rose 4000% in value in 6 months.
It just seems too good to be true. Then I read about ripple and apparently 150 banks around the world are adopting it including RBS, Bank of Amercia and Bank of Abu Dhabi.
Is this just one giant scam or does cryptocurrency actually hold real world intrinsic value, like gold?
He briefly explained the process but this is what criminals use to buy dodgy stuff right? I've been looking at it a little bit and the return on investment is unbelievable. Ethereum has had investment from JP Morgan, Microsoft and others and rose 4000% in value in 6 months.
It just seems too good to be true. Then I read about ripple and apparently 150 banks around the world are adopting it including RBS, Bank of Amercia and Bank of Abu Dhabi.
Is this just one giant scam or does cryptocurrency actually hold real world intrinsic value, like gold?
So how much did your sisters husband make in the end?
Original post by Lord_Mediocre
Simple answer is no!
Almost all currencies today are fiat currencies and rely on the users beleiving them to "currency".
Alternative currencies follow the same logic.
Almost all currencies today are fiat currencies and rely on the users beleiving them to "currency".
Alternative currencies follow the same logic.
Does that mean, if someone reaps a good investment, others must lose?
Many people work from Monday to Sunday only for them to find themselves broke every month,Why work like an elephant and eat like an ant? Think about it, you are no different from those with millions of cash in there bank account. The only difference is that they invested, Saving money in the bank does not make you rich but investing that money makes you super rich.With a minimum investment of $400 earn up to $7500 and above in just a week.To be successfully it takes time but to be financially stable and secured it by choice not by chance. invest today in bitcoin for your future. You can reach Chuck through : Wyvernchuck at g-mail or text +1667-308-3018
Cryptocurrency is one of a lot of applications existed. Their are some application blockchain can help such as Supply Chain, Review platform, Education, Healthcare...
I am not a legal consultant but I have experienced it very closely after all I am a crypto trader. The word name "Scam" just happen with your wallet by online hackers or cheaters and it just happens with a new investor. I would just urge you to change your wallet address immediately and May help with a good crypto resource, though I often use crypto links platform, you get all the cryptocurrency information in presence of good experience experts. If you need further information you can feel free to ask me here.
Original post by MasterReal
Cryptocurrency is one of a lot of applications existed. Their are some application blockchain can help such as Supply Chain, Review platform, Education, Healthcare...
As all events in the cryptocurrency market show, one can say that they still have a good future. But I would not be engaged in active trade now, but use the extra money for play pragmatic games online on mr bet nz
(edited 4 years ago)
Hi! Cryptocurrency itself cannot be a scam, because it's a very powerful tool nowadays that solve many hard tasks. Trading platforms can be scam and in order to stay safe when you investing in cryptocurrency, you should choose carefully with whom to trade. We have many trading platforms nowadays, and I had experience with many different ones, but Hedgespots remains my favorite. The platform is 100% solid and the staff at hedgespots works continuously to improve it. It’s excellent under many aspects, it lacks on others, but I'd recommend hedgespots.
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