No, it's not a scam. The Tulip Bubble of the Dutch Golden Age wasn't a scam, either. A scam is something engineered to extract money from people. The creator of Bitcoin is unknown but it was the province of tech nerds and idealists in the beginning. Bitcoin is a movement behind which is the belief that an alternative is needed for the current mainstream financial system. There have been numerous speculative bubbles in Bitcoin.
Most mainstream people don't get Bitcoin. All they see is some sort of Internet funny money whose price is subject to crazy volatility. Even smart people often fail to recognize what Bitcoin was built for and what the technology makes possible. The way I see it is that the centralized way governments and financial institutions operate makes the vulnerable to a great deal of corruption and misuse of power. I'm not saying that the blockchain is immune to that. But what I'm saying is that clever application of blockchain technology can greatly reduce the possibility of fraud and corruption. Humans are weak, easily corruptible and vulnerable to coercion. With the relentless onmarch of digitalization and robotization in areas critical for public safety, single points of failure pose risks that cannot be tolerated. Decentralized consensus mechanisms underpinning Bitcoin will be critically important in mitigating the risks.
No bigger a scam than the fiat system or all the schemes government, the military-industrial complex, and big pharma pull off...
Some people do think that Bitcon is "The Next Bubble". This means that Bitcoin can explode at any time. However, I am very confident that Bitcoin as the pioneer of blockchain technology crypto currency will not be that easy to collapse. Why? Because this is transparent, there are no lies behind the transaction.
However, it cannot be denied that the price fluctuations that occur are very unreasonable. Maybe this is a SCAM, but I'm sure it's not.
Because Bitcoin is like a fiat currency.
Sometimes what above goes down and what below will goes up.
This just a scenario of the Wheel Theory. As Long crypto users use bitcoin in many transactions and as investment of investor getting bigger then it will stay having a value. The Value Of Bitcoins is depending on the outcome of the Investment and Crypto users transactions. Blockchain does not control the price but the User itself.
Once the Demand of BItcoin goes high and Its supply is getting low. then it will result of increasing the bitcoin Value. I Believe that bitcoin is not a scam because once it reach it's peak of downfall then it start to go up again.
What makes bitcoin a scam? People are fond of bad mouthing things that they don't understand. Bitcoin birthed a new technology and it's making a rave everywhere. In few years time, block chain technology brought about by bitcoin will be applied in almost all sectors of the global economy. Does that look like a scam?
Not everything spoken by learned personalities should be taken seriously because such learned men may be ignorant in other sectors or areas of life that are different from their field. Bitcoin brought about a new revolution that most institutions don't want to thrive because they know that it would expose most of their dubious processes and they think the only way to stop such revolution is by bad mouthing bitcoin. Their plans will not work.
No. There has been and there will be much worse scams.
By the way, the developers of the main cryptocurrency have never promised to make everyone millionaire. It was speculators who started the ball, followed by uninformed people who arrived too late hoping to make a fortune.
There were scams with lots of new currencies and a host of ridiculous "ICOs". But Bitcoin is a technological, financial and social experience. Bitcoin does exactly what it needs to do.
The scam, it comes from the brother-in-law who suggested to the whole family to "invest" in there in December 2017 ...
Bitcoin is a truth: it's all public and open source, so anyone who wants and skills can study and verify how it works (and this is absolutely one of the most obvious truths).
The error of those who call it scam is not having understood that there is no scammer! Without a scammer it can not be called "scam" ... Bitcoin belongs to everyone, everyone can have it, everyone can undermine them (at least in theory), everyone can acquire them: where would the scam be?
Consequently, it is always good to avoid negotiating cryptocurrencies outside the most important exchange (exchange) platforms (eToro, Coinbase, Bittrex, Avatrade, etc.).