Why is Bitcoin a scam (Why Bitcoin is not a scam)

Why is Bitcoin a scam? Is Bitcoin a scam? Why do people think it’s an investment scam? Why do people believe it’s a fraudulent trading tool? Because in many people’s eyes, this cryptocurrency is actually a Ponzi scheme. But many people don’t know what a scam is. So what has caused its price to skyrocket? In fact, there are several factors that have led to its explosive rise: firstly, the number of speculators continues to increase, and secondly, investors’ greed continues to rise.

When you want to purchase a new digital wallet, you need to ensure the security of your funds. This means that you may need to pay a higher price and take on more risks for new assets; if we want to use another digital wallet or alternative product, we must undergo KYC (Know Your Customer) checks to identify which accounts belong to this new address. And all this is due to the lack of sufficient security measures to prevent such hacker attacks.

However, this is not the case – despite claims from some people that they have never owned any digital tokens. But in reality, this is not the case. “It’s a scam,” one commenter said, “I hope someone can find a way to prove that I am satisfied with this project.” Why is Bitcoin not a scam? Let’s take a look at the history of Bitcoin:

1. On May 19, 2009, the Bitcoin Genesis Block was mined and generated the first reward (BTC), with 10 BTC awarded per new block. 2. On March 9, 2013, a new blockchain protocol called “Ethereum” was created on the Ethereum network. 3. “Bitcoin” is known as “Bitcoin.” Bitcoin was originally developed as a decentralized application by Satoshi Nakamoto and consists of a basket of digital currencies. 4. After its initial release in early 2016, a new chain will be launched every year. 6. The initial supply reached one million coins in the first quarter of 2018. 7. The total supply in 2020 decreased by about 50% and has grown to 10 million coins as of the end of 2021. 8. As time goes on and matures, this proportion will decrease to 1% in ten years. In November, miners started selling their computing power and mining Bitcoin. From November 12th to 13th, an average of 2,100 new users were added daily, with about 10% of them receiving income. Is Bitcoin a scam? According to a recent report released by American financial analyst Willy Woo, in the past few years, more and more institutions are adopting Bitcoin. He wrote: “Our research shows that only a small percentage of companies plan to accept Bitcoin since 2008. That’s why I think Bitcoin is a very unusual investment. As we saw for most of 2017, like most banks, Bitcoin could also become a medium for criminal activity… While Bitcoin can be used to evade law enforcement and other regulatory issues, it is also a scam.” “If you can know this, those companies engaged in illegal activities and trying to steal money, they will eventually become stronger!” Woo added.

Why Bitcoin is not a scam

Editor’s note: This article is from O daily Planet Daily, authorized by the Daily Star.

Do people think Bitcoin is a scam? The answer is yes. In fact, many people see it as a Ponzi scheme or a fraudulent investment, but it is not. They view cryptocurrencies as an asset class rather than a means of payment, or they are a store of value – these statements may echo the concepts we previously knew about commodities like gold and silver. (Note: Since May, Grayscale Fund has increased its holdings of over 5,000 BTC).

So the question is, in the past few months, has people’s view of Bitcoin as a store of value changed? First, when people consider the digital economy, will it be accepted by the public like anything else? What does the second point mean? The third point explains why cryptocurrencies are not used for transactions? Let’s take a look at it from two perspectives. The first part is purchasing Bitcoin because it is the only currency form that can be used for transactions. The second part is allowing users to directly cash out from their bank accounts through exchanges that offer fiat entry, eliminating reliance on traditional financial systems and safely entering this new market through wallet transfers. The fourth point is that due to the volatile and unpredictable nature of Bitcoin prices, investors generally do not choose to hold this type of digital asset. The fifth point indicates that although most market participants expect to make greater profits from cryptocurrencies, the situation may change over time. Finally, based on the rise in Bitcoin prices, Bitcoin is undergoing another bull market cycle, but there have not yet been more such projects. If there are other projects in the future that have similar opportunities to launch their own cryptocurrency products, this should be closely monitored to ensure that you are on the right track and maintain a cautious attitude.