The Bitcoin Thread

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manicminer said:
Not sure I agree with all of that. I mean, cash doesn't earn interest either... but banks pay you interest for saving your cash with them.
Not sure what you're suggesting there... there will be plenty of legit services offering interest in future IMO... and there are legit services offering interest today.
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But that's not buying Bitcoin
 
Pakka said:
But that's not buying Bitcoin
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But the warning signs don't really seem to be about buying bitcoin either, do they? Maybe just clarify what the warning signs are for.
 
Pakka said:
But that's not buying Bitcoin
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I'm not following... the interest bit you're talking about specifically refers to exchanges offering you interest? Are there any exchanges offering interest?
 
saor said:
But the warning signs don't really seem to be about buying bitcoin either, do they?
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We'll, it's not aimed at someone like us. It's more for people who heard the buzzword 'Bitcoin' and don't know where to start.
 
@Pakka I get what youre trying to do and say, and think its a great public service, but I feel the target audience will have no idea what all those things mean. Not sure how you would effectively achieve this.
 
Pakka said:
We'll, it's not aimed at someone like us. It's more for people who heard the buzzword 'Bitcoin' and don't know where to start.
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I just think the warning signs section is quite arbitrary. Warning signs against what?
 
For the guy on the street trying out Bitcoin for the first time, I think that checklist from Pakka is a great start.
 
manicminer said:
I'm not following... the interest bit you're talking about specifically refers to exchanges offering you interest? Are there any exchanges offering interest?
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Hes talking about the scammers like bitconnect ponzi and whatnot, the 'send me your btc and you'll earn 500% interest a week'. BTC does not earn interest, anyone saying you can earn interest is bull****ting

But yes, maybe it needs to be a little more informative in that section, other than that, great stuff
 
saor said:
I just think the warning signs section is quite arbitrary. Warning signs against what?
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Thanks for the critique, I'll update it to clearly distinguish between Bitcoin related 'services' and the process of actually buying Bitcoin. Reason for having that in there, is that a lot of people aren't familiar with BTC and easily get involved in these (sometimes) scams that either sell hashing power, or do trading with their money, or do pyramid referrals, etc.
 
Temujin said:
Hes talking about the scammers like bitconnect ponzi and whatnot, the 'send me your btc and you'll earn 500% interest a week'. BTC does not earn interest, anyone saying you can earn interest is bull****ting

But yes, maybe it needs to be a little more informative in that section, other than that, great stuff
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Bitfinex, Poloniex all offer lending facilities to earn interest on your BTC. Totally legit.
The trouble with BCC is that it's built purely on referrals - and OP can't rule those out since he provides a referral link himself :p
 
manicminer said:
Bitfinex, Poloniex all offer lending facilities to earn interest on your BTC. Totally legit.
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I did not know this, thanks.

manicminer said:
The trouble with BCC is that it's built purely on referrals - and OP can't rule those out since he provides a referral link himself
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Not in the infographic - only on the website, and it's completely optional and says so upfront. The difference is, with the ponzies you have to sell something. I'm not trying to do that at all.
 
manicminer said:
Bitfinex, Poloniex all offer lending facilities to earn interest on your BTC. Totally legit.
The trouble with BCC is that it's built purely on referrals - and OP can't rule those out since he provides a referral link himself :p
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Yeah, but I'm talking random people on forums and socialmedia saying 'send me your btc and get huge interest' are scammers. YOu using a legitimate exchange like poloniex is not a scam. As said, maybe it needs a little more infomation there.

But anyway, send me your btc, big money in return, promise:D
 
Pakka said:
I did not know this, thanks.

Not in the infographic - only on the website, and it's completely optional and says so upfront. The difference is, with the ponzies you have to sell something. I'm not trying to do that at all.
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Not really - I signed up and mined BCC without spending a cent. On the finance and earning interest side there's also companies like this:
https://www.bitbond.com/

You can certainly earn interest on BTC. What I would suggest to watch out for are 'exclusive referrals clubs' - sites you can't join without a referral. Those tend to be dodgy - creating the impression you've stumbled on the next best thing while the rest of the world can't get it - anything that creates FOMO. Great infographic otherwise.

And nothing wrong with referrals - just check my sig :D

The real risk right now is it's very difficult to know who is legit and who will just disappear overnight - it's unregulated. Even long standing sites like Bitfinex and Poloniex have had their fair share of controversy... I'd even suggest making sure people hold their own wallet keys.
 
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manicminer said:
Not really - I signed up and mined BCC without spending a cent. On the finance and earning interest side there's also companies like this:
https://www.bitbond.com/

You can certainly earn interest on BTC. What I would suggest to watch out for are 'exclusive referrals clubs' - sites you can't join without a referral. Those tend to be dodgy - creating the impression you've stumbled on the next best thing while the rest of the world can't get it - anything that creates FOMO. Great infographic otherwise.

And nothing wrong with referrals - just check my sig :D
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That's the wording I'm looking for, thanks!
 
Pakka said:
That's the wording I'm looking for, thanks!
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Cool - definitely a red flag. Saw one of those in town just the other day - big sticker on a car with referral for a site that doesn't allow direct sign-up. Very dodgy. Maybe just say 'avoid pyramid schemes'
 
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