Is Bitcoin a bubble? Fraud? Ponzi?
Channel: CryptoCentral Net
Date: 2018-01-03

Even renown individuals have came up to call bitcoin a fraud. I personally think that the people who think in such a way see bitcoin and cryptocurrency from a very old world lens. They look at it based on past experiences without taking into consideration how social dynamics work and the power of collective consciousness.

How does money get its value? It's fungible, it's scare, it requires work to acquire, and everyone agrees to adopt it and recognises its value. Traditionally we depend on people in power to tell us what money is and how to value it. Traditionally we have people in power tell us how to think and what's best for us. 

With bitcoin, suddenly that control is no longer in the hands of those in power. Bitcoin is about the power of crowd consensus.

Is there any wonder then why the people who are calling bitcoin and cryptocurrency all sort of names are old people who made their wealth in traditional ways and people who are high up on the social ladder?

The are too high up in the ivory tower to want to acknowledge their their safe haven is about to get disrupted. They have a choice: Continue to hope that Bitcoin is a fraud, and only time will tell; or adopt and use their old world wealth to make them even wealthier by embracing blockchain.  

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As we wrap up the 2017 with Bitcoin busting the 10k mark and the masses getting FOMO'd about cryptocurrency, it's even more important now that people can get their questions answered simply and accurately without all the mambo jumbo. 

That's what we do here. We take care of the crypto community.

We'll be covering these 5 Commonly Asked Questions in this series:
1. What's with the hype around Bitcoin and Cryptocurrency?
2. Is Bitcoin a bubble? A fraud? A ponzi?
3. Where do I start to get into crypto?
4. Which cryptocurrency should I invest in?
5. Should I get a mining rig?

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