FTC thinks it's a scam Common sense and: The FTC has shut down a Missouri-based company accused of scamming customers in its attempts to sell Bitcoin-mining computers and cards. It must be trivial to check whether data satisfies said requirements. The current volatility shows there is no backing of any value. Well unless Bitcoin became approved by your country's government then its a scam. Note that the Index contains the aggregate of Bitcoin and Bitcoin Cash (other forks of the Bitcoin network are not included). This will lead to a mass of people quitting jobs, leading to a massive shut down of society. Since many people dislike the goverment, banks/bankers, bitcoin promises privacy, no fees to banks, no printing money by government all sounds great. So bitcoin is only a speculative item untill people realize there is no value and start dumping it before others. Yes it is scam The scam behind bitcoins are the trading platforms who will certainly betray you (see MtGox).
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Report Post the latest nonsense, defended by the parochially "knowledgeable". In September 2017, Venezuela went awol and started trading oil and gas in Chinese Yuan instead of the US Dollar. Bitcoin is already being exposed. Currently there is holes in the timing of bitcoin transactions and how the blocks get solved. Digital currencies are, Bitcoin supporters say, the wave of the future. Personally a big waste of time, from what I can gather. Meanwhile, crypto is only as strong as its weakest point.
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