Bitcoin is destined to be a long-term scam

Bitcoin is more popular than ever, and companies such as AT & T, Microsoft, Visa and PayPal receive encrypted currency payments. Even small businesses have already joined this trend: According to a survey of HSB, a third of the US medium-sized company is now accepting Bitcoin and CO. as payment methods. If you are in speculative encrypted currency, this is of course a good news. But for humans, this is just proved that there is a fool in a minute.


Bitcoin from the beginning is a scam. Of course, this idea is very attractive: Bit coin as a detrimentary digital currency, you can conduct transactions directly through the block chain security, rather than relying on the proven statutory currency and bank as an intermediary . The value of Bitcoin is created by encryption and seems to be independent of political and government. But in the final analysis, Bitcoin is also on agreement and trust.

What is the problem with Bitcoin and the company? Robert McCauley, a senior researcher, a Global Development Policy Center, Boston University, in the most recent article entitled “Why Bimencurcoin than Matoff” Say: “It will be compared to the Pang’s scam.” Compared to the notorious Bernhevus scam, Bitcoin will not be used to accumulate wealth, but as a kind Permanent zero interest bonds. In other words, no one guarantees that your bitcoin will be rewarded. Their value is completely disposed of free trade. This will lead to a question: What happens when no one is willing to purchase Bitcoin with any price? The answer is: Bitcoin may become worthless overnight.

According to Robert McChole, bitcoin is tantamount to “low-cost shares and high shipments fraud.” Elevated selling refers to a strategy used by financial frauds, they buy or have more or less shares, and enhance them with fictional stories and then convert them. The development of the course is usually an astronomical figure before a crash at a moment. Who still sits on the stock, who will pay a single.

Just like this scam, bitcoin use the greed of investors. Then the so-called FOMO (scared) – extremely afraid to miss millions of dollars. After all, this trend is spread by friends, acquaintances or influential people. Bitcoin’s value is based entirely on hypere and hopes. If both are lost, the encryption of the currency is not worth it.

Network crime driver encrypts currency

The price of Bitcoin and other encrypted currencies has fallen many times, and the last time is in January 2022. When writing this article, the bitcoin price begins to rise again, but how long will this last? Will it reach the history of November 2021? No one knows them to answer these questions. The only thing that can be determined – just like any fraud – can also make money with Bitcoin. Therefore, you can still benefit if you are available in 2017 or before. Otherwise, the opportunity to occur in this situation is quite embarrassing.

There is never this plan: Bitcoin’s mysterious inventor Zhong Cong wants to create a medium for daily trading and establish a traditional bank infrastructure after 2007 and 2008 financial collapse (PDF). This plan is not successful: Today you can pay here with Bitcoin there, but basically it is first a kind of adventure opportunity investment game.

In addition, Bitcoin is also a first-class consummer. Encrypted monetary mining electricity consumes approximately 91 Tawa time each year. This is more than the consumption of Argentina with 45 million residents. The demand for energy is increasing every day. This part is because you can successfully exploit the concept of Bitcoin at home. However, this is not realistic for many years: the powerful GPU is no longer enough to excavate the Bitcoin workload certificate. This requires a computer with a dedicated integrated circuit (ASIC). Such system cost is high and run all day.

In this case, a recently published research is very inspirated, which indicates that only 0.1% of the bitcoin miner combines half of the total mining capacity. These are really making money, because they start from the beginning. If this is not the case, you may be able to lose your funds at some time, which may not be a popular point of view – but it may make people think and eventually save huge economic losses.