Quote from: Shadow383 on August 23, 2012, 05:41:24 PM

Quote from: terabit on August 20, 2012, 06:41:41 PM

everywhere I look I see scam sites, untrustworthy people, hackers and pyramid schemes running riot,

isn't this whole bitcoin thing just a trap? I don't really see why you'd want to be part of it...

Bitcoin itself isn't a trap, what it is is unregulated - it lends itself to illegal activity, and as a result there's proportionally more shady activity than in other currencies.
Still, buyer beware. If you're financially savvy you have nothing to worry about.

Quote from: Bugpowder on August 23, 2012, 12:45:42 PM

It is fascinating and unbelievable to me how gullible many users are. I thought people with bitcoins must more technically savvy and that would make them financially savvy, but it turns out those two things are totally decorrelated.

This.
There's a lot of incredibly gullible people on here dropping staggering amounts of money on people they don't know for projects they don't understand.

The words "due diligence" seem to be meaningless to some members...

Before anyone puts money in one of these schemes they should first do some fiat trading of front month options on a stock going into an earnings call. Then they will learn how much it sucks to lose money on an investment you don't really understand.