Notices
Results 1 to 5 of 5

Thread: are cryptocurrencies a scam?

  1. #1 are cryptocurrencies a scam? 
    Forum Sophomore
    Join Date
    Dec 2011
    Posts
    103
    My friend is into them. He says he's making allot of money. He says I should get into it. I'm scared.


    Reply With Quote  
     

  2.  
     

  3. #2  
    exchemist
    Join Date
    May 2013
    Location
    London
    Posts
    2,873
    Quote Originally Posted by filix View Post
    My friend is into them. He says he's making allot of money. He says I should get into it. I'm scared.
    What do you think Warren Buffett would advise you to do?


    Reply With Quote  
     

  4. #3  
    Brassica oleracea Strange's Avatar
    Join Date
    Oct 2011
    Location
    喫茶店
    Posts
    16,646
    Not a scam but a very high risk investment. Very possibly a bubble that is near the peak.
    Without wishing to overstate my case, everything in the observable universe definitely has its origins in Northamptonshire -- Alan Moore
    Reply With Quote  
     

  5. #4  
    Forum Professor
    Join Date
    Apr 2009
    Posts
    1,135
    Typically a money is just a successor of the barter scheme which facilitated exchange of some real goods or services on other goods or services. In this regard a cryptocurrencies similar to bitcoin awoke suspicion because if we assume they will be recognized as a real value, then why people who produce some real good or services (like cars or potatoes) suppose to exchange these real goods for bitcoins which aren't backed by any real goods or services (can be generated out of "thin air")? Traditionally it would be viewed as a typical "Ponzi scheme"...
    Antislavery
    Reply With Quote  
     

  6. #5  
    Malignant Pimple shlunka's Avatar
    Join Date
    Jan 2013
    Location
    Dogbox in front of Dywyddyr's house.
    Posts
    1,785
    If you don't have a large amount of disposable income (as in, if your investment would be a sizeable chunk of your personal finances) then I would strongly recommend against investing into cryptocurrencies. It's a volatile investment with high yields and high risks and the best case you come out richer and the worst case involves you defenestrating yourself.
    "MODERATOR NOTE : We don't entertain trolls here, not even in the trash can. Banned." -Markus Hanke
    Reply With Quote  
     

Similar Threads

  1. Ionized Water Systems - SCAM ?
    By vja4Him in forum Chemistry
    Replies: 17
    Last Post: February 16th, 2013, 07:42 PM
  2. What is the carbon tax?? just a scam??
    By Lewis Pratt in forum Politics
    Replies: 32
    Last Post: July 11th, 2011, 10:52 PM
  3. global warming- a scam!
    By Lewis Pratt in forum Pseudoscience
    Replies: 25
    Last Post: July 9th, 2011, 07:19 PM
  4. Another pseudo-science cold fusion scam?
    By worldsayshi in forum Physics
    Replies: 13
    Last Post: February 11th, 2011, 02:07 PM
  5. Anyone else get one of these?? (email scam)
    By thequ1ck in forum General Discussion
    Replies: 8
    Last Post: February 4th, 2007, 04:30 AM
Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •