The shady aspects of bitcoin and its deception

The shady aspects of bitcoin and its deception I've been pondering this a lot lately. Bitcoin gets used for scams, money laundering, and it's really hard to trace, which makes it a go-to for criminals. So the real question is: was it originally made for this purpose? The people who started this whole thing don’t really talk about it. Everyone’s all about how it’s the future currency that no one controls, but that’s just not true since it’s basically tied to the dollar, making it like a sidekick to fiat money. The US has the highest amount of bitcoin. Just a coincidence? The folks sitting on the biggest piles of bitcoin aren’t exactly doing everything by the book. I know tons of people who’ve tried to spend their bitcoins and ended up getting scammed. Good luck complaining to some ghost! It feels like a monster has been created, and I doubt anyone can really keep it in check (or maybe they don’t want to). The so-called “creator” is still in hiding, which is kinda sketchy... And let’s not even get started on the huge rigs mining crypto and the environmental mess they create. Sure, there are some decent people in the crypto space who own a few bitcoins, but honestly, they’re the minority. They believe in something that might be beyond their understanding. In truth, bitcoin is just another part of capitalism. It’s not decentralized; it’s just a way for the wealthy to accumulate even more wealth, and they often don’t get it through legal means. Maybe it had a different vision at first, but over the years, it’s become just like everything else, without any real control or security.

You must be fun at parties

Incorrect. What part of Bitcoin being an open and Publicly accessible ledger do you not understand? Every single transaction made is VERY traceable. Just do a search for ' chain analysis'. As to who owns the BTC addresses involved - not so easy but law enforcement eventually always does identify them. Your PROOF of that blatant lie? The 'I know hundreds of thousands of people who have tried to buy something with bitcoins and have not received anything (scam)' is also pure bull (mainly you knowing those people). Does it happen - yes. That applies to folks paying in fiat as well. FYI - most of the scams are through ads on social media and are almost never through well known, reputable, vendors. Where do you think the phrases "Buyer beware" and "Do Your Own Research" came from? Over the years I've bought many many things from computers, miners, TV's etc with BTC with value totaling over 10's of thousand of dollars with ZERO problems - just use reputable vendors. The rest of the OP's accusations are just more fevered ramblings of someone who does not have the slightest idea of what Bitcoin is, how it is accumulated, or how it works.

It's worth mentioning that the frequency of the above things happening through the use of Bitcoin [or even other cryptocurrencies] is nothing compared to traditional methods and there are already multiple research studies about it! Would you mind explaining to us how you came to that conclusion? If you're referring to the amount the US government has, they've actually seized most of those Bitcoins [don't overthink it]. Now you're generalizing Bitcoiners and that's wrong! Why are you considering that to be a bad thing?

Dafuq are you even talking about? Pricez go up, we gettin reech. Ain’t that hard to komprehende das? Viele menschen got scammed indeed aber many people made lots of trades zu successfully. Many people get scammed whether they use FIAT oder kredit karte. It doesn’t mean credit cards are a scam. I mean credit cards are ripping people off with their fees indeed but that’s an indirect skam. P.S. Entschuldigungen sie mein französisch Tschüss

Many technologies are misused, but that doesn’t mean they were inherently created for those purposes. The vast majority of Bitcoin transactions are legitimate, and its blockchain can actually provide more transparency than traditional financial systems when properly analyzed. The early adopters of Bitcoin have certainly gained significant wealth, but that’s also true in many new technologies. The hope is that, over time, Bitcoin and other cryptocurrencies will become more accessible to everyday people, but it will take further development and education to get there.

Come on.  We are not in the 2013 era of the Internet.  The United States has a LOT of Rich people.  So it is clearly only a coincidence in the theory you propose. All the assumptions you wrote sound kind of childish and not thought through.  It looks like you do not really understand Bitcoin.  I have incredible doubts that Satoshi or anybody who knew about Bitcoin back then would have thought it becomes such a gigantic unbeatable monster.  Extremely few investors from the initial years of Bitcoin still hold any Bitcoin to date.  And I bet most of them who still own any are people who will some day luckily find their Wallets after over a decade of losing them.  The rest are people who sold because who in the World would still hold on to their Bitcoin after so long and SO MUCH Profit? You have probably been fed too much of the negative articles about Bitcoin.  Mining does not do as much environmental damage as they made you believe, Bitcoin can be traced pretty easily actually, the people who bought Bitcoin but received nothing simply bought the wrong way and fell in the hands of a Scammer et cetera. I get that you have your own perspective.  And that is good.  BUT.  If I were you, I would not be so strict on my own perspective had I not known how Bitcoin really works and why it became such a popular and heavily Trusted Asset.

I realise it's frustrating for everyone, but bitcoin hasn't defeated the financial system, on the contrary the financial system is eating bitcoin I've started researching this topic as well https://bitcointalk.org/index.php?topic=5487893.msg64763539#msg64763539 Centuries of experience say that if all people are given money, only a small part of them will keep it and become rich, and the rest will be poor.

Since you accept the opinions of others as you say, let me tell you that if you do not understand anything about Bitcoin, you should not generalize that to the rest of the people who use Bitcoin and understand it well, you came too late so you may not have understood Bitcoin, so you cannot judge something you do not understand. Most of the points that came in your theory are either superficial or based on false information and can be easily refuted, so you should accept the opinions of others and review your information about Bitcoin, because Bitcoin is the future and all those who doubted it in the past are now regretting it.

That is what everyone said after Bitcoin achieved its biggest ATH in 2017. What you have wrote is what the controlled media said and that did not stop the community from growing. I feel a lot of your statement are suggesting that you believe in conspiracy theories. Which is okay for me and most of the active forum members as we have seen those come and go. It doesn't matter anymore, we as a Bitcoin community have now grown-up and know the potential of Bitcoin is the current geopolitical situation and its importance for some countries who are against the dollar.

What truth are you talking about, the only truth here is that you either do not understand a single thing about BTC or you are just trolling for 'fun'. Thieves have been stealing fiat without being caught for as long as it has been printed, but no, fiat is fine and BTC is the problem. Take note that BTC has a public blockchain, so it isn't so easy to use it for crime as you say.

Replacing the word "Bitcoin" with "dollar" means perfectly the same thing. Is the dollar a lie?

It all depends on an individual's belief in the system, it depends on your perspective how you understand money and economics. Bitcoin and the dollar are different, Bitcoin has its own ecosystem and mechanics too. I don’t think Bitcoin is replacing the word dollar and if some people think it’s a lie, it’s not the dollar’s fault either. For now we see that both coexist in the mainstream. If Bitcoin ever replaces the dollar only time and future developments will determine that as progress will dictate Bitcoin’s path.

Yes. Bitcoin and Fiat are entirely separate things.  The United States can decide to print a few more Trillions worth of Dollars, all on their own.  Bitcoins do not come out of thin air, there is science behind it and it is even DEflationary. The Dollar is a HUGE lie.  And a Scam.  And used in so much Money Laundering and other Criminal activity it should be banned.  Think only about how much Money has been Laundered and stolen only by Politicians.  It is crazy.