just it has all the characteristics of a scam to this point in the game.
Please elaborate on this.
1) It's touted as "the new best thing" for making money. "This time it's different!"
2) Its creator is a virtual unknown with almost no reputation or credibility in finance and with an almost single-handed ability to get his money out before the scam collapses, although none of his followers will agree with this fact.
3) It relies up a very complicated, almost incomprehensible technology process which most people, even sophisticated financial specialists, don't understand. This complicated process is touted as a strength of the scam rather than as an obvious weakness and acts as a way to cover up the opaqueness of the scheme.
4) Anyone who questions bitcoins is ridiculed as being backwards, unintelligent, old fashioned or lacking understanding of technology. Even many users of bitcoins admit they don't fully understand how it works. (Allen Stanford of Stanford Financial continues to this day
to claim his financial empire collapsed only because regulators were too stupid to understand his new, brilliant investment technology and processes.)
5) The entire scam relies upon a "trust me" mentality where gullible people have to rely upon a very few persons who claim to understand the process.
6) The scheme attracts
gullible and somewhat paranoid people who are looking for a way to "beat the system" and who are easily impressed by complicated processes which they don't understand. (Example: Bernie Madoff's victims.)
Frankly, I don't understand how TD.com site owners continue to allow the pump-up tactics for bitcoin. They sure don't allow (and rightly so) speculative stocks from being touted on the Money Talk Board in order to avoid any appearance of endorsing any possible scams and thereby bringing liability upon themselves when the scam collapses.