Quote from: coinlary on March 24, 2024, 09:49:56 PM

Is Bitcoin a scam

It's so funny that at this stage and century , some people still believe that Bitcoin is a scam after it has proven itself over and over which has led to it's massive adoption.

If anyone still thinks Bitcoin is a scam and depending only on fiat currencies then he or she is a slave to fiat system and believe it or not Fiat is brain rot.
There are so many things these peoples must understand to know why they are really a slave to the fiat system.

Decentralized nature
This is the major difference between fiat and the bitcoin, there's no influence or control from authority like government , no manipulation in transactions or values everything done in bitcoin is transparency as full nodes could be run by anyone,anywhere anytime without hidderance and this a way for showing every transaction on blockchain making double-spend bitcoins impossible.

In fiat everyone is subjected to the power of governmentand its agencies, the supply ,circulation are always influenced by their Monetary policies.

Supply
Bitcoin has a specific fixed supply of 21M coin which will ensure protection against every from of devaluation , beside there's a smaller unit that can be used in btc(sats) incase of any form of scarcity and scarcity brings about increase in price , bitcoin price is also determined by the demand and supply in the market.

On the other hand, fiat currencies can be printed at will by the government and the supply will still be determined by that single entity which is still the government.

I still have friends who think that crypto is a big pyramid scheme. To be honest, at the beginning I tried to convince them otherwise, but I've given up trying now. No matter how many times you give them the example of the fiat currency, which is simply printed every day and has not been backed by gold reserves for a very long time, many people still feel more comfortable when they believe that this piece of paper is much more reliable than a normal digital currency. It's 2024, and some people feel like they were born yesterday.

Ram44

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