[SVTCobra03]

Bitcoin is a scam and a Ponzi scheme.

[ToastedHead]

“But it’s trading higher than gold!”

[Errant]

The Biggest Scam In The History Of Mankind

[grania]

Every time it comes up, I ask if someone can explain it to me. I'm pretty good at understanding Math and Economics. None of their explanations make any sense. It's something mined with an internent program with an algorithm and put in a cyber account. Huh? At least with the tulip thing there were tulips.

[dangerdoc]

Not a scam and not a Ponzi scheme, just not designed to be an investment.

When it was conceived, it was meant to be an easy way to pay a nickle for something on the internet. It was a long time ago and they were looking to the future, they knew the internet was going to be huge but they couldn’t figure out how content authors were going to get paid. The idea was that they would develop a micro currency. It was easy to send your credit card number for a $100 purchase but how would you send a nickle to somebody to read an article.

The was before internet based advertising took off.

It was designed to be a digital coin purse for small purchases not to be a retirement plan or a hedge against inflation. If people are getting scammed, they are scamming themselves looking for a quick buck.