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Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Fivestar4everMVP on December 31, 2023, 05:12:42 PM

Title: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Fivestar4everMVP on December 31, 2023, 05:12:42 PM
Hi altcoinstalkers.

So, I was browsing through Twitter(now X) yesterday while I was chillaxing, I came across this image below, which reminded me of friend..
(https://talkimg.com/images/2023/12/31/IeNpI.jpeg)

This made me remember a friend of mine from way back 2014, this was before I discovered bitcoin in 2016, we were both working a 6am to 7pm job in a polyethylene company, getting peanuts (around $40) as monthly salary, it was really a hard live we lived back then, but in 2016, I came across someone who introduced bitcoin to me through means I can not go into at the moment, so this story dont become too long for you my reader  :).

I did my research on bitcoin and after the who thing, I become very anxious to buy bitcoin but don't know how, since the process of converting fiat into crypto was very limited at the time, i told my guy about my latest discovery, but he turned it down saying that bitcoin could be another scam, I tried convincing him but he paid no attention to me.

Long story short, we later separated that same year, I relocated to another state where I got a new job, and was now doing crypto by the side, one year later, I made enough money to start up my own business, plus get into other investments.
Me and my friend stopped talking since I become more busy and don't remember to call him any more, and he hardly called me.

Just some weeks ago, he called me to find out if I was still doing crypto   :), I said yes of course, and now he want me to teach him all about bitcoin and how to invest in it.  :), and funny enough, he is still working in that same company where I  left him, while I have become a manager of myself and my own business.

Look how people miss opportunities due to ignorance, let's discuss guys, have any of you gone through a similar experience, please share.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: SamReomo on December 31, 2023, 06:13:29 PM
Your story is a very inspiring one my friend, I believe anyone who considered Bitcoin a fraud back then regrets now for their skepticism. Many people who invested in Bitcoin during 2014 to 2016 have earned enough profits from that investment.

I know some weak-hand people weren't good at speculating Bitcoin's worth back then but now most of them regret for their own stupidity and they think that why we haven't bought Bitcoin when it's price was still under $1000.

After many years your friend has also learned his lesson and now it your turn to teach him how to invest in Bitcoin. Although, he's late as compare to 2016 but he isn't late yet at the same time. Bitcoin's value can increase without any doubt in future and if your friend starts investing in it from this year he may have good returns in long-term.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Muneeb22 on December 31, 2023, 06:36:09 PM
This is true that those peoples which says that Bitcoin is fraud and now they have good amount of BTC because they know that the BTC will change their life in a shot time like the other peoples which can change their life through this great market. Not just the BTC is the best coin almost all the best coins are best.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Hatchy on December 31, 2023, 06:49:41 PM
It's surprising that the government, which opposes Bitcoin, actually holds a significant amount of it in various wallets. They use Bitcoin's decentralized system to their advantage, even though they claim to be against the technology. I usually don't pay much attention to social media stars who talk bad against Bitcoin, because it's hard not to be interested in such a fascinating technology. they might be discouraging potential investors while secretly being involved in what they criticize and that's just not right.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Asiska02 on December 31, 2023, 07:28:21 PM
Just some weeks ago, he called me to find out if I was still doing crypto   :), I said yes of course, and now he want me to teach him all about bitcoin and how to invest in it.  :), and funny enough, he is still working in that same company where I  left him, while I have become a manager of myself and my own business.

Look how people miss opportunities due to ignorance, let's discuss guys, have any of you gone through a similar experience, please share.

I have a similar story line like that of your friend but I will say I was lucky to have embraced bitcoin earlier and not too long after I was first introduced into it. My friend was already into crypto since 2018, we didn’t bother to ask him what he was doing but we just know he is into online stuff. Some of my friends even thought he was doing something illegal at that time. In late 2021 when I got an opportunity to be more closer to him that was when I understood what he was doing and asked him to introduce me to it and that was how I came to know about bitcoin till date.

I use to wish I had known about it earlier and witnessed the 2020 halving event when it was the biggest talk in town at that time. But nevertheless, I have learned a lot and still proud of myself that I joined in 2021 and love how far I have come today. Some opportunities comes but once but some come again and when they do, don’t hesitate to not take part in it.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: sampoerna on December 31, 2023, 11:41:28 PM
It's really funny if something like this exists. or they do it for several reasons, namely so that prices drop and they want to buy it at a cheap price. because if those words come from big influencers, certain people will be able to influence prices.

But what is certain is that we must stay with our patience. because however, we shouldn't panic quickly and stay invested in Bitcoin so we can hold it. and it would be better if we avoid creating any FUD or being influenced by Fud.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: xSkylarx on January 01, 2024, 05:30:21 AM
I did have a lot of workmates before that kept telling me that Bitcoin is a scam and that the only way to earn it is by networking, like inviting someone to invest, but when the ATH happened during the pandemic, they started asking how to earn or buy it. It is just funny and sometimes fulfilling that a person who used to criticize you about Bitcoin will be asking for help on how to obtain it, and guess what? I just say that it is a scam don't invest haha and I will say just kidding, search it on Google.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Jamal Aezaz on January 01, 2024, 07:34:28 AM
Your Storry is very funny yet very inspiring too. it teaches us one important lesson that we should not be ignorant and don't miss any opportunity that come in our way because they might change our future forever.
I know a lot of examples like these. but I am glad that I am not part of them. I also found out about Bitcoin back in January 2016. and I adopted it the very first day.. and my life changed forever too. just like yours and then I taught so many of my family members and friends as of now..
The funny thing about that kind of ignorance is a lot of big companies and persons called bitcoin fraud and then get into bitcoin  after some time. lol
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: kulkhan on January 01, 2024, 05:19:25 PM
Some people always negative and i also think when Bitcoin price will go avabe $100k then they will tell Bitcoin Fraud. But talent people always positive and they take opportunity.

I think you are most talented person so when Bitcoin price was under $1000 you bought Bitcoin and you huge profited. Some positive people will involve now and wait for bull session. And after-all they will be profited there has no doubt.

Because Bitcoin is best coin it has beed proved. I also bought Bitcoin when it’s price was $3200. I think Bitcoin will established more and more. I wish for this fantastic coin.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: SmartGold01 on January 01, 2024, 05:47:35 PM
I can't basically said is from me but it was someone who introduce me happened to call someone who is close to him to start investing into currency but at then he thought crypto is scam and never pay heed to it, as time goes he started seeing how everyone is talking about bitcoin and all forms of currencies. What he did was to call someone very close to his brother to start teaching him and he said why not call your brother he is my boss and why don't you want to learn from the right source instead of learning from him it was then he said he was ashamed of calling him to learn since he made little case with him at then.

Naturally we don't know where opportunity will open door for someone because we might feel so satisfying with the little place we are managing currently but doesn't know that there are lots of opportunities out there that can even give us 100x than the current place we are managing and milking from it. The point is that we should always try to give chance to other aspect of things in life because we never can tell the best place that could put food in our table today and tomorrow.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Freemind on January 01, 2024, 06:21:34 PM
There are many people who have said that Bitcoin (and cryptocurrencies in general) is a fraud, very few have said it out of conviction and many have said it out of manipulation. In the case of the manipulators, some of them well-known public figures with important positions in banking and large companies have done so with the intention of manipulating the markets for their own benefit. That's why I don't like what Musk is doing (although it's not what we're talking about here) with Doge, he knows he can manipulate the market.

All public figures who claim that Bitcoin is a fraud soon lose their mask, and that is what scares them the most, that it is publicly known that they are hypocrites and liars.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: 0t3p0t on January 01, 2024, 06:50:25 PM
Ignorance is really what most people miss opportunities, why? It is because they have the feeling of doubt and fear of failing. Some high profile individuals called Bitcoin a fraud because they are planning something that will benefit them in a specific time or even in the long run. Your story actually happened to me once way back 2017 but since they find it hard to embrace Bitcoin due to technicalities they end up the other way like having a day job and others work abroad.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: electronicash on January 01, 2024, 07:27:48 PM

there maybe people who called BTC fraud and up to this day, they will not acknowledge they were wrong. Peter Shciff still calls it fraud but his son is buying BTC which is very public.

Larry Fink CEO of BlackRock once called BTC “index of money laundering." but look at him now he is filling Spot ETF.

can't consider Warren Buffet but he once called BTC a rat poison but now he has investment in banks who are allowing BTC and crypto deposits. and Justin Sun gave him BTC.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: MrSpasybo on January 01, 2024, 08:18:51 PM
BTC and the crypto market will make human greed reach infinity.

I don't have many friends who have been interested in BTC for many years, but I know a lot of people in this market. At first, they did not believe and laughed at BTC, then they FOMO and praised BTC as a tool to achieve financial freedom. When BTC entered the crypto winter, they were disappointed and cursed BTC for wasting their time and money.

Right now, when the BTC Halving is approaching, they are still mocking investors in this market, but I know they will return to the market soon, maybe late 2024 and early 2025. After all, BTC is still here, the crypto market is still here, only their money is used to buy experience :)
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: taufik123 on January 01, 2024, 10:21:11 PM
When I first got into bitcoin in 2016, the perception of bitcoin as a digital currency that was useless, had no benefits and was always underestimated, was always a strong topic of conversation.

Many people don't want to come in even though the price is very cheap.
but when you see the price of bitcoin continues to rise and rise, even reaching ATH continuously.

People started to get interested, Those in the past, who scolded bitcoin and called it a scam, secretly held onto bitcoin for the long term.
it's like licking their own spit.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: trendcoin on January 01, 2024, 10:59:24 PM
People who are not open to innovation have missed a lot in Bitcoin and in this market. I don't consider myself very lucky or good enough, but I definitely wouldn't be where I am today if I wasn't open to innovation.

Also, I think sometimes the ignorance and cowardice of others gives us an advantage because as time goes on and other people become more financially literate, mass adoption will increase and the advantages we have today will diminish because of tougher competition. I think we should enjoy these days.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Thyplaymaker on January 01, 2024, 11:58:25 PM
Alot of people have that same mindset. I told a friend back then about cryptocurrencies he was like no that he don't trust it because of the losses and the risks in it. So I was like there's no good business without any risk or any thing that brings profit can also brings losses (when manage poorly).

That all he need to do is to make proper research to reduce the risk attached to it. But still wasn't convinced so I continue my journey in this crypto space gathering good knowledge about it. So I did some part times jobs and I took the risk by investing the cash I got from it.

When I did,  it was around a year ago so Bitcoin experience a dip and my cash also went dip with it. So it was kinda sad and all that. So I decided to leave the funds. But that didn't stopped me from investing, so my friend was like I told you that you will up losing your funds but you  didn't listen. But now Bitcoin as beat that price range I brought it and now I'm  in good profits  ;D. That same friend came  running back begging to help him in cryptocurrencies investment.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Dr.Bitcoin_Strange on January 02, 2024, 12:39:44 AM
I did my research on bitcoin and after the who thing, I become very anxious to buy bitcoin but don't know how, since the process of converting fiat into crypto was very limited at the time, i told my guy about my latest discovery, but he turned it down saying that bitcoin could be another scam, I tried convincing him but he paid no attention to me.

Long story short, we later separated that same year, I relocated to another state where I got a new job, and was now doing crypto by the side, one year later, I made enough money to start up my own business, plus get into other investments.
Me and my friend stopped talking since I become more busy and don't remember to call him any more, and he hardly called me.

Just some weeks ago, he called me to find out if I was still doing crypto   :), I said yes of course, and now he want me to teach him all about bitcoin and how to invest in it.  :), and funny enough, he is still working in that same company where I  left him, while I have become a manager of myself and my own business.

That's always how most of those kinds of stories end. There's a saying that knowledge and information are the keys to power. If you have very good and proper knowledge about something, such knowledge could open you up to other powerful opportunities, and perhaps someone with great ideas and knowledge about something is always valued.

Information and knowledge are power, and if you are not informed, you will continue to see things the wrong way until you actually get the right knowledge about something you had no knowledge about earlier.

I remember before I ventured into Bitcoin, I actually wondered if it was a scam too or not. I wondered about so many things regarding Bitcoin, and one of them is how to sell my Bitcoin. I was thinking that there was no real human being to buy Bitcoin, but later around 2019, I was properly educated about Bitcoin, and I am grateful that I am no longer skeptical about Bitcoin up until now.

Conclusively, most people who are skeptical about Bitcoin do so because of a lack of proper knowledge and also because of some kinds of misconceptions that they have had because of the experience their friends had or the stories they might have heard from other people.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: Fivestar4everMVP on January 02, 2024, 03:04:55 PM
I did my research on bitcoin and after the who thing, I become very anxious to buy bitcoin but don't know how, since the process of converting fiat into crypto was very limited at the time, i told my guy about my latest discovery, but he turned it down saying that bitcoin could be another scam, I tried convincing him but he paid no attention to me.

Long story short, we later separated that same year, I relocated to another state where I got a new job, and was now doing crypto by the side, one year later, I made enough money to start up my own business, plus get into other investments.
Me and my friend stopped talking since I become more busy and don't remember to call him any more, and he hardly called me.

Just some weeks ago, he called me to find out if I was still doing crypto   :), I said yes of course, and now he want me to teach him all about bitcoin and how to invest in it.  :), and funny enough, he is still working in that same company where I  left him, while I have become a manager of myself and my own business.

Conclusively, most people who are skeptical about Bitcoin do so because of a lack of proper knowledge and also because of some kinds of misconceptions that they have had because of the experience their friends had or the stories they might have heard from other people.
No arguments at all, you are completely right, but in all of our experiences, or experiences of our friends which we happen to know about, or experiences of other people we heard of, or read online, I think the very best way to not miss opportunities is for us to always keep an open mind about everything, not without being careful though.

Keeping an open mind about something simply means listening, and willing to learn, and try out new stuffs, even if it's with a very small amount of money one can easily afford to lose, this is way better than being over protective of one self which will in some instances lead to loss of good opportunities.

It's just like it's said in my place that "he who is not ready to lose anything, will not get anything", some people completely lose good opportunities due to their past experiences, they lock in their self in a shell, shutting themselves up from latest innovations which would have made them millions, simply because their first, or second, or maybe even third trial was a sham or scam they lost money on.
Title: Re: Who Called Bitcoin Fraud, But owns Bitcoin today?
Post by: defy on January 02, 2024, 07:09:12 PM
ah ha - good one OP

this is the man i think who first compared bitcoin to the tulip craze back in 2017 which happened in the Netherlands in the mid 1600's
these people dont deserve to have bitcoin, they will buy up great quantities of it and it will dissapear never to hit the markets for a very long time.

https://www.reuters.com/article/legal-us-usa-banks-conference-jpmorgan-idUSKCN1BN2PN/

so many great quotes which have at this stage come back to bite him

Quote
"The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart."

Quote
Dimon said that if any JPMorgan traders were trading the crypto-currency, "I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous."

Quote
Dimon said that one of his daughters had bought some bitcoin. "It went up and she thinks she's a genius now,"

Quote
"It is worse than tulips bulbs,"

Quote
Dimon predicted big losses for bitcoin buyers. "Don't ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up." he said.

Quote
"Honestly, I am just shocked that anyone can't see it for what it is."