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It’s also amusing to see this straw man argument and rebuttal get posted in almost every single discussion about cryptocurrencies.

chroem- 9y ago
For what it's worth, this is the first time I've seen it. Not sure it's fair to call it a strawman though.
- thanksgiving 9y ago
  Couldn't we say the same thing about gold? I'm sure if you look far enough, you'll find someone willing to "sell" you gold and hold the gold for you when they don't have the said gold. Or replace gold with US dollars or tulips or Amazon.com stock or whatever. How is this a Bitcoin issue?
  - blunte 9y ago
    This absolutely has been done with gold mining ventures, just as it was done with oil drilling ventures. That's why some regulation on solicitation of investments in crypto currency ventures would be beneficial. It is developing though.
- deleted 9y ago
  [deleted]
- thisisit 9y ago
  The "sour grapes" and "jealously" has been the go-to explanation, if it can even be call that on each of the cryptocurrency thread.
  - verylittlemeat 9y ago
    Bitcoin is just like any other investment I don't see how people can have "sour grapes" about it. So you knew about bitcoin or even had bitcoins when they were fractions of a cent? So what...most people would have sold when they reached $5 or $10 or $50 thinking they were at the peak.
blunte 9y ago
Look up OneCoin. That is just one of dozens of scams riding on Bitcoin coattails, attracting (greedy/foolish) people, and taking most for a bad ride. Most of these scams have been done in the height of the penny stocks days, and the SEC has (or had in the past) put a lot of effort into protecting less saavy investors. Lastly, I work for a client in this space. My client is doing a legit business, but we constantly deal with customers who have made and lost money in dozens of these ponzis over the last couple of years.
- baddox 9y ago
  Of course there are scams involving Bitcoin or other cryptocurrencies. How many scams involving US dollars do you suppose there are?

chroem- 9y ago

For what it's worth, this is the first time I've seen it. Not sure it's fair to call it a strawman though.

thanksgiving 9y ago
Couldn't we say the same thing about gold? I'm sure if you look far enough, you'll find someone willing to "sell" you gold and hold the gold for you when they don't have the said gold. Or replace gold with US dollars or tulips or Amazon.com stock or whatever. How is this a Bitcoin issue?
- blunte 9y ago
  This absolutely has been done with gold mining ventures, just as it was done with oil drilling ventures. That's why some regulation on solicitation of investments in crypto currency ventures would be beneficial. It is developing though.
deleted 9y ago
[deleted]
thisisit 9y ago
The "sour grapes" and "jealously" has been the go-to explanation, if it can even be call that on each of the cryptocurrency thread.
- verylittlemeat 9y ago
  Bitcoin is just like any other investment I don't see how people can have "sour grapes" about it. So you knew about bitcoin or even had bitcoins when they were fractions of a cent? So what...most people would have sold when they reached $5 or $10 or $50 thinking they were at the peak.

blunte 9y ago

Look up OneCoin. That is just one of dozens of scams riding on Bitcoin coattails, attracting (greedy/foolish) people, and taking most for a bad ride. Most of these scams have been done in the height of the penny stocks days, and the SEC has (or had in the past) put a lot of effort into protecting less saavy investors. Lastly, I work for a client in this space. My client is doing a legit business, but we constantly deal with customers who have made and lost money in dozens of these ponzis over the last couple of years.

baddox 9y ago
Of course there are scams involving Bitcoin or other cryptocurrencies. How many scams involving US dollars do you suppose there are?