Bitcoin a big scam says Donald Trump

[Augusta]

The former president of the United States of America, Donald Trump is on it again. This time he believed that bitcoin is a total scam. He made the statement in relation to the recent happening, where it is said that bitcoin price is competing seriously with the fiat currency of the US dollar. This really looks like the former president has no faith in bitcoin. Maybe he isn’t convinced that bitcoin can be used to boost the economy of any reasonable country.

Well, with the decline in the price of Bitcoin, people are of the view that his stance might help to contribute to the declining price in the cyptocurrency world especially as it concerns bitcoin. Some countries are also now banning the use of cryptocurrency and Bitcoin in their countries.

What do you think about this, are you in support of Donald trump stance that bitcoin is a scam and can never compete with the fiat currency?

 

[Sotherefore]

Well most of these people do not understand how digital currency work and in this case this is what we should be expecting from this set of people,cryptocurrency can actually help to boost the economy of a country and can also help to bring down the economy of a country, they're just afraid that cryptocurrency could be a threat to the economy.

 

[sincerem]

BTC or any other crypto isn't a scam investment. Everyone has their own opinion, i respect everyone's opinion when it comes to Cryptocurrency. I've been around the crypto space for a while now, and I've experience lots of up and down since joining the investment scheme for more than a year ago. Crypto should be considered long time investment, and we shouldn't put our treasury asset into it, hoping to get rich quick. That's when it comes to people's mind its scam when they lose whopping.

 

[Wisdom01]

Bitcoin is never a scam , because people could buy and sell their bitcoin with ease, i still don't know the reasons for his hatred on bitcoin as time moves on ,abd during his administration i think he showed less interest in the existence of crypto currency ,and was taking a motive to ban it

 

[Deleted member 28127]

Doland Trump is not familiar with bitcoin and crypto so that is why he is accusing bitcoin of big scammer so Doland Trump as any gouvernment state that wants to impose tax in his resident show that US residents are not paying tax by placing their saving in bitcoin as a result a simple accusation is easy that bitcoin is scam to let people scarred and cashout bitcoin to fiat currency and then pay tax to US authorities this is an outdated game.

 

[sincerem]

Bitcoin is never a scam , because people could buy and sell their bitcoin with ease, i still don't know the reasons for his hatred on bitcoin as time moves on ,abd during his administration i think he showed less interest in the existence of crypto currency ,and was taking a motive to ban it

Since its a scam project why did lots of people get onboard around BTC or any other crypto investment?? During his administration BTC or other crypto coins rose to prominence, U.S and rest of the world embrace the project as a means of livelihood and up to now, some politicians aren't in full support of crypto transition, but i believe that crypto will live up to its expectations.

 

[Alexandoy]

I respect the statement of Donald Trump. Like Elon Musk the former US president is also a billionaire. Musk and Trump are on the same level. If people believe in Musk then are also people who believe in Trump. I don't buy the idea that crypto will compete with real currency. Those crypto fans are forgetting that crypto is a commodity and not a currency.

 

[sincerem]

I respect the statement of Donald Trump. Like Elon Musk the former US president is also a billionaire. Musk and Trump are on the same level. If people believe in Musk then are also people who believe in Trump. I don't buy the idea that crypto will compete with real currency. Those crypto fans are forgetting that crypto is a commodity and not a currency.

Crypto is an encrypted digital currency, also an asset in our modern day world. Any one holding crypto is holding an asset which is very worthwhile and highly profitable. If Elon musk didn't know about all this things, did you think he would be investing such amount using his Tesla motors company asset?? The answer is No. He saw something profitable in the future that's why he invested to be part of it.

 

[Wisdom01]

I respect the statement of Donald Trump. Like Elon Musk the former US president is also a billionaire. Musk and Trump are on the same level. If people believe in Musk then are also people who believe in Trump. I don't buy the idea that crypto will compete with real currency. Those crypto fans are forgetting that crypto is a commodity and not a currency.

Although it depends ,because some already believe that crypto currency could also be used as currency in exchange of goods and services and not only a commodity ,I think elon musk is taking crypto currency as just fun and not really serious compared to Donald trump who is actually shunning the use of crypto currency to a very large extent ,that is what I noticed and the difference among the two perspective on crypto currency as a whole

 

[Mika]

It does not matter whether Trump has faith in bitcoin or not, who listens to Trump any ways. IN fact it even does not matter whether Obama or Bush believes in bitcon or not. What ultimately matters is what Joe Biden says. Because he has the power to turn the tables. His one decision can crash the bitcoin market.

 

[Sotherefore]

I don't know why these people keep on attacking cryptocurrency as if it is their own enemy, cryptocurrency can never be a scam because it is just a market that exist by the law of supply and demand,in this case how is it a scam I would like him to explain it to the understanding of everyone.

 

[Good-Guy]

Bitcoin is not at all a scam and Donald Trump is simply wrong. Bitcoin can never be a scam because it is a decentralized digital asset that is not at all controlled by anyone. I am really not sure why many people still believe that Bitcoin is some sort of controversial asset that has been made to scam people. Some people have even claimed that Bitcoin is a ponzi scheme; however, the truth is that bitcoin is not at all a ponzi scheme.