“But Bitcoin has scammers!”

“Bitcoin has scammers; therefore, Bitcoin itself is a scam”.

This is a really bad argument.

Imagine if someone used this argument in any other context, such as the following example: “All private enterprise needs to go away because some people are scammers and don’t provide anything of value.” Or, imagine if I said, “There are gold scammers, therefore gold itself is a scam.” Plug in any asset and you get the same bogus reasoning! Garbage reasoning goes in, garbage comes out.

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