Bitcoin Forum

Beware of these Five Bitcoin Scams

As consumers' adoption of bitcoin continues to increase and a number of major retailers have decided to accept the virtual currency, alarming cases of fraud with bitcoins continue to emerge. Because bitcoin transactions are irreversible and not overseen by a central authority or bank, bitcoins are a popular vehicle for fraud and theft.

http://www.investopedia.com/articles/forex/042315/beware-these-five-bitcoin-scams.asp

there is also to be added, altcoin scam, where malicious dev, instamine(premine/hidden premine ecc...) the crap out of it, and then dump on the first pump at exchange, or they inserts in the code, a virus/rootkit, to steal your wallet stored in you local pc

Nice article but it has very limited detail it is very less but somehow effective there should be some more detail on method to avoid these kind of scam if you the admin of the site then please add it also

ya well said and u r absolutely right !!:)

As a general rule if it sounds to good to be true, chances are it is.  A lot of scams deal with greed.  Looking for someone who's trying to make a quick buck.

If you use your common sense and don't just jump into deals with no research it can save you from alot of the scams.

thanks  :) for the information brother,it will help us to think before trying any of these foolish things..
anyways do you have any idea who is the admin of coinsdouble.com they have taken a lot of my bitcoins,they paid me when i invested dust and when i invested 0.7 btcs to get 1.4btcs they scam me...now still it has been over a month they havent paid me..

They are gone into deep darkness now better you forget those coins now. you did a major mistake by investing into there program i also lost my 27 XPY nearly 0.27 BTC int there program after getting a spam email into my account.
you cant do anything with them now i also tried to find out there details but got nothing from it.

there isnt any way to recover them?? :-\

That comes under the first category of "Bitcoin Ponzi Schemes and High-Yield Investment Programs" itself.
They however forgot to mention the normal scams while trading if done without an escrow.
This point should be mentioned regardless of other ways, as most of the people are scammed on trades which happen without an escrow.

i don't think there is any way to recover your coins if you somehow succeeds in finding the name,address and other details of the owner then after you cant claim your money back due to there terms and conditions but you can use this thread's guide to get away from these kind of scams in near future as we know that the 2015 is the year of scams and ponzi .

I only ever see 4 of 5 those type of scams. Ponzi is the most often scam happen in bitcoin world. And sadly there are still a lot people try to join that crap :(
Wallet scam, i never see that before. Anyone can give me an example from wallet scam?
And if you are admin if that site, please give example for every type of scam, so the readers can do some research.

Although altcoin not part of bitcoin, but there are so many scam there. Consider to add it to your article so the reader be aware with that.

well no they are not exactly ponzi, they are thieves directly, there is no ponzi in instamining

well if you detect a ponzi in like 100 hours return double you should not invest do you or even a 1 month double besides that tere are even ptc sites that use btc and do not pay im testing them i can not post (i ve been pormoting wrong things and got banned for a while) but yes its scam too and even not too honerable or honest bussiness its comming around this coin like every fiat.

Clickbait title but good article. I was looking for the part where it says 'Scammers hate him!' but there was not one:-)

yes unconsciously in altcoin so many scams. moreover coin ICO, when my initial invest some bitcoin and they fled, or other

ponzi is sure a scam, but many people still involve in ponzi. Just look at investor games section  ::)
yeah ICO / IPO or anything related to invest before release altcoin is high possibility of SCAM
stay away from it

That's a nice article, indeed.

But basically, there are two simple rules:

1) If it's too good to be true, then it's 99.9999% scam

2) Ponzi schemes are ALWAYS a scam.

If you keep these two things in mind, then you are not likely to get scammed easily.

yeah, true. there should be a little more details but better than nothing.

also a good advice: search on this forum before you use a service!

Thank you for the advice. I'll follow your advice  :)

locopao its right and even if its genericly just fine to be true like the ptc site you need like 3 monhts to test them all in btc to see if they pay like 4 dollars or soo i mean its a bit crazy the ptc i got but the sites may pay soo im doing a bit this sites and for you i do think you should not gamlbe double in short notice or invest in shares for now try to acomultate by work and then do a bit of investments like no more that 25% of the gathered btcs its a like 10% budget con just for now we dont use the all money like btc just some.

Faucets and ptc sites are a different category. Not scam, but in my opinion a major waste of time. Gambling sites are just gambling. Owner is always the winner. You might win some but eventually you are gonna lose big time.

the list could be more longer, one of the most stupid is  Bitcoin Ponzi Schemes, i dont understand how people could be hooked on such scheme..