Are Cryptocurrencies like BitCoin A Scam?

are cryptocurrencies like bitcoin a scam

Are cryptocurrencies like BitCoin a scam? Before I go anywhere in this article there are some things I wish to mention straight up front. First I am not a financial advisor so I am not offering you investment advice! Secondly I am not an expert in cryptocurrencies – I am a digital marketing specialist and website designer among many other things. Now it’s because of the knowledge I have on programming and website design that allows me to say I have a genuine fear of what cryptocurrencies might bring!

As a website designer and programmer I understand how to setup, install and configure a pretty good website. I have developed a knowledge in HTML, CSS, PHP & MYSQL. My knowledge in these languages is not complete but I do have a good understanding of the basics and little more in each. It’s with this knowledge I could use the source code for BitCoin and create website and launch a new cryptocurrency complete with it’s own wallet. So it’s with this understanding many others are now doing just that – in fact you hear of a new launch daily now!

What Are Cryptocurrencies?
Are Cryptocurrencies A Scam?

Are cryptocurrencies like BitCoin a scam? To really understand this question you must first understand what a cryptocurrency actually is. A cryptocurrency is a payment system designed for the exchange of goods or services using cryptography to secure the transaction. This is a peer to peer network where “coins” are mined and rewarded for providing the processing of each additional unit and asset transaction. Transactions are entered into the public ledger as a means to track the sale of all assets and verify the transactions.

What do Paypal and Bitcoin Have In Common?

So really if anything cryptocurrencies are a payment processing solution like PayPal with one key difference – PayPal has assets in the form of real estate for it’s offices and so forth.

Read what Wikipedia says about cryptocurrencies. 

Cryptocurrencies Are Trending Right Now 

But Are They A Scam?

Are cryptocurrencies like BitCoin a scam? This is the question that many people either are asking themselves or should be! Right now cryptocurrencies like BitCoin are one of the biggest trending things due to how much money people are making with them.

BitCoin itself is one of the hottest topics on Earth and the trend is likely to continue according some big names. Many people are investing their life savings into BitCoin and other cryptocurrencies without really knowing what it actually is – this is crazy!

Are Cryptocurrencies Like BitCoin A Scam? – Maybe According To Warren Buffet - Are cryptocurrencies like BitCoin a scam? It’s a really sincere question because the way I see it – there is no real intrinsic value to them. From my understanding any number of cryptocurrencies could be a scam.

Bitcoin

As you can read on that article I’m not the only person who has this opinion on cryptocurrencies! I’m not saying they are a scam but unless they are tied to or used in the transaction of something that does have a real world value and it is backed up on that intrinsic value they are just code!

Are cryptocurrencies like bitcoin a scam

Anyone Can Set Up A Cryptocurrency. As really anyone with a little understanding of programming can set one up!

Imagine this scenario: A less than reputable or decent individual spends a few dollars on hosting and domain registration for a website. Brands the BitCoin source code and makes usable then promotes their new cryptocurrency launch. They market their new “currency” keeping a large stockpile and lots of people buy it.

People buying the new cryptocurrency drive the price up on each “coin” then when it’s got enough, the company dumps their stockpile withdrawing their value out. What happens to the price of a coin? Where does that money go? I’ll let you draw your own conclusions here!


Are Cryptocurrencies Like BitCoin A Scam?
Ask Who Started It!

Are cryptocurrencies like bitcoin a scam

No one really knows the person who started BitCoin. But if you Google who started bitcoin you find out it was this person named Satoshi Nakamoto.

Below is an excerpt from Wikipedia:

In November 2009 a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the bitcoin software as open source code and released it in January 2009

Furthermore Satoshi Nakamoto retained around half a million bitcoins for himself and has since disappeared never to be heard from again!

Why Karatbars & Cryptocurrency?

In the last year or 2 there has been an onslaught of new cryptocurrencies based on Bitcoin. These cryptocurrencies while they have their merits are doing damage to the world's economy. The problem is that digital currencies like Bitcoin are taking normal money out of the economy. Many smart people are looking for other places to invest. Precious metals and real estate will be reasonably safer investments than stocks and cryptocurrencies. I am not a financial advisor and it should be said. A friend who works in the financial services sector explained his concern over over Bitcoin and the likes, instead he said gold is a safer choice. Looking at the Karatbars K-Exchange gives us the best of both worlds!

What Is The Karatbars Affiliate Program?

Aside from buying gold from KaratBars, you can become an Karatbars affiliates members like myself (free to sign up).

As an affiliate for KaratBars, you can sell bars from your virtual shop front. 

Aside from selling gold bars KaratBars affiliates can introduce other affiliates and earn a small percentage of their sales. 

Affiliates can reinvest their earnings by purchasing gold bars from their commissions. The KaratBars affiliate program is an entrepreneurs dream, if your an affiliate marketer you’ll thank me for introducing you to the KaratBars affiliate program!

As a Karatbars affiliates program member not only can you buy and invest in gold but you can refer others. By referring other affiliates (as many as you like) your earning capacity is greatly increased. KaratBars affiliates are provided with plenty of material to both help you sell gold and refer other affiliates. From nice glossy pictures to videos like the one you watched above KaratBars affiliates program has got you covered! If you join the KaratBars affiliate program through this link, you will join my team and I will help you grow your team to success! If you would like my help and you have joined my KaratBars team of affiliates, then contact me here and let me know so I can help you out.

Buying gold has nearly always been a safer and more stable choice to invest in. Gold is a much slower moving investment normally but this is likely to change soon. I believe that gold is likely to soar in the next 5 – 10 years. So this isn’t a get rich over night article but rather a prediction for the future. There has been many trends over the years and cryptocurrencies are no different. Right now there are new digital currencies like Bitcoin popping up everywhere! Because just about anyone can create their own cryptocurrency there is likely to be a massive bubble going to pop – like the dot com crash! Don’t get me wrong I’m not saying they will all fail but most will and those have put all their eggs in the one basket will lose big time!

Gold on the other hand already has intrinsic value so it’s worth buying, getting the cryptocurrency is just a bonus!

Conclusion

Bitcoin is payment processing solution that has no intrinsic value except the bubble that’s currently being created by people buying and holding onto their BitCoins. Anyone can start a cryptocurrency so you never know who could be behind the launch of any new cryptocurrency. And finally no one really knows the person (Satoshi Nakamoto) who disappeared not long after BitCoin launched.

The code that Satoshi Nakamoto wrote is still available to download and set up a new cryptocurrency with. I could provide a link to the source code here but in an effort to slow the spread of cryptocurrency scams I won’t be doing that.

If you want to risk your money with BitCoin and other cryptocurrencies then do so at your own peril! If your into cryptocurrencies I’d love to hear your feedback and thoughts so leave me a comment! 

I’ve already stated why buying gold for 2017 is important, but like many people I didn’t know why buying gold is important in 2017 unless it’s from a jewelers store. I certainly don’t know much about trading stocks or investing in them and I doubt that many really do. I don’t think I could trust a stock broker either but I can trust myself. So I for one wouldn’t have had any idea on how to get started in buying and trading of gold let alone investing in it.

That’s where a reputable company like KaratBars comes into the picture! KaratBars provides you with everything you need to know when it comes to trading in gold. KaratBars makes it easy and fun to get started and their gold bars look amazing! The general advice is to buy your KaratBar as often as you can afford and either store them yourself or with the company. Over the coming years as your collection of gold bars has grown so has the value of each bar. At any point you have the option of selling your gold for market value.

Beware and do your research before buying gold from just anyone! If your like me then your wary when it comes to buying anything from nearly anyone. I’ve learned to do my own due diligence by doing a Google search and KaratBars was no different. What I found out is KaratBars has an outstanding reputation and is a one of kind! There may be other gold trading systems out there but KaratBars is unique and stands above them all. So if your interested in buying and trading gold then KaratBars comes highly recommended! Go and buy gold from KaratBars Now!

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