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Title: What's the biggest scam that's ever been in Bitcoin? Post by: pilscoop on October 04, 2015, 03:23:03 PM Any information about this?
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: n2004al on October 04, 2015, 03:28:10 PM For sure the scam of Mt Gox. According to Wikipedia: https://en.wikipedia.org/wiki/Mt._Gox (https://en.wikipedia.org/wiki/Mt._Gox)
"On 24 February 2014, Mt. Gox suspended all trading, and hours later its website went offline, returning a blank page. An alleged leaked internal crisis management document claimed that the company was insolvent, after losing 744,408 bitcoins in a theft which went undetected for years." Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Amph on October 04, 2015, 03:30:59 PM that amount was probably part of the reason why the price tanked afterward, mtgox was also a heavy centralized exchange, too many coins there, there should be more decentralized exchange, everything around bitcoin should be decentralized to avoid this troubles
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: kolloh on October 04, 2015, 03:32:06 PM Yep, Mt Gox for sure
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: franky1 on October 04, 2015, 03:33:52 PM MTGox
Trendon shavers Bitcoinica the thing about all scams is that people keep putting all their funds into uninsured third parties hands, people they have never met but weirdly trust with thousands of dollars of value. if you want to avoid a scam never put all your eggs into one basket. and if you cannot find enough info about who is 'managing' your deposits, to be able to slap them with a wet fish and a court order.. then dont put any in. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: shorena on October 04, 2015, 03:35:37 PM Any information about this? Yep, a dedicated thread to collect them all -> https://bitcointalk.org/index.php?topic=576337.0 Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: sempak on October 04, 2015, 03:55:49 PM MT. GOX is the most major events and ltcgearstore. although we hired LTC however associated with bitcoin. very big lie because I invested heavily here. indeed that day is a day that is not profitable
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: leex1528 on October 04, 2015, 03:59:46 PM I don't even think this is a question, Mt Gox without a doubt. How many coins were lost in that whole fiasco? Over 700,000 I believe? There hasn't been anything close to that since then.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Hazir on October 04, 2015, 04:01:02 PM that amount was probably part of the reason why the price tanked afterward, mtgox was also a heavy centralized exchange, too many coins there, there should be more decentralized exchange, everything around bitcoin should be decentralized to avoid this troubles Centralization is not the flaw and decentralization is not the answer. If system if corrupted it doesn't matter. If management of MtGox was good it could still be the biggest, active and prominent exchange to this day. All we need is right people on the right place, not idiots, scammers and thieves running things. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: LFC_Bitcoin on October 04, 2015, 04:08:06 PM For sure the scam of Mt Gox. According to Wikipedia: https://en.wikipedia.org/wiki/Mt._Gox (https://en.wikipedia.org/wiki/Mt._Gox) "On 24 February 2014, Mt. Gox suspended all trading, and hours later its website went offline, returning a blank page. An alleged leaked internal crisis management document claimed that the company was insolvent, after losing 744,408 bitcoins in a theft which went undetected for years." Agree with this, Mark Karpeles what an awful man, so many people lost so much money. Such a bad mark in bitcoijs history. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Mickeyb on October 04, 2015, 04:43:27 PM There was pretty much exactly the same thread about 2 weeks ago, but let's answer it all over again.
Mt. Gox without a doubt! The scam that has left a large dent in our reputation and the scam that will hunt us for many more years I am afraid. They even want to record a movie about Mt. Gox scam, I hope they don't though. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: LFC_Bitcoin on October 04, 2015, 04:47:39 PM There was pretty much exactly the same thread about 2 weeks ago, but let's answer it all over again. Mt. Gox without a doubt! The scam that has left a large dent in our reputation and the scam that will hunt us for many more years I am afraid. They even want to record a movie about Mt. Gox scam, I hope they don't though. That'd probably be a good thing especially if it was a good film with big actors. Imagine the publicity & exposure bitcoin would get with average joe public. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Kprawn on October 04, 2015, 04:54:53 PM I would suggest that you browse the forum a bit, before you start a new thread. We have discussed this here --> https://bitcointalk.org/index.php?topic=1194784.0
If you go through that thread, you will quickly see the worst scams/scandals we have seen was a> MtGox and b> Silkroad c> Jennifer Lawrence Naked Photo linked to Bitcoin We are not proud and happy about those, but there are thousands of examples with other payment methods ....Why single out Bitcoin? Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Amph on October 04, 2015, 06:48:15 PM that amount was probably part of the reason why the price tanked afterward, mtgox was also a heavy centralized exchange, too many coins there, there should be more decentralized exchange, everything around bitcoin should be decentralized to avoid this troubles Centralization is not the flaw and decentralization is not the answer. If system if corrupted it doesn't matter. If management of MtGox was good it could still be the biggest, active and prominent exchange to this day. All we need is right people on the right place, not idiots, scammers and thieves running things. with decentralization, you can avoid completely the odds to have one malicious guy running everything, and since money make 99% of people malicious is better to have a decentralization system why having a decentralized payment system when everything that turn around it is centralized, it almost kill the point... Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Mickeyb on October 04, 2015, 07:58:40 PM There was pretty much exactly the same thread about 2 weeks ago, but let's answer it all over again. Mt. Gox without a doubt! The scam that has left a large dent in our reputation and the scam that will hunt us for many more years I am afraid. They even want to record a movie about Mt. Gox scam, I hope they don't though. That'd probably be a good thing especially if it was a good film with big actors. Imagine the publicity & exposure bitcoin would get with average joe public. It would be a good thing if the ending message of the movie would be something like Bitcoin is an amazing technology full of potential and Mt. Gox wasn't really the fault of the Bitcoin but the fault is rather human factor related. If the message would be screw the technology that allows the Mt. Gox to happen, then this would be quite disastrous! :) Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: ashour on October 04, 2015, 10:30:29 PM that amount was probably part of the reason why the price tanked afterward, mtgox was also a heavy centralized exchange, too many coins there, there should be more decentralized exchange, everything around bitcoin should be decentralized to avoid this troubles Centralization is not the flaw and decentralization is not the answer. If system if corrupted it doesn't matter. If management of MtGox was good it could still be the biggest, active and prominent exchange to this day. All we need is right people on the right place, not idiots, scammers and thieves running things. with decentralization, you can avoid completely the odds to have one malicious guy running everything, and since money make 99% of people malicious is better to have a decentralization system why having a decentralized payment system when everything that turn around it is centralized, it almost kill the point... Yes, but the problem of decentralization is, who would take care of the exchange ? What if it has a bug ? Who is going to fix ? How do we know that the one who is going to fix isn't going to steal the coins ? Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Zombier0 on October 05, 2015, 01:51:20 AM Mtgox
Butterfly labs then mintpal/mookah Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: bb2ebb on October 05, 2015, 02:05:17 AM the appearance cryptodouble.com
cryptodouble have gained confidence as the site of certain model investment ponzi. pretty much bitcoin stored there. and when web cryptodouble has been inactive/scam, consequently bitcoin price decreases dramatically :-[ Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: BitcoinEXpress on October 05, 2015, 02:09:48 AM Let's not forget about our friend and very own VIP Tradefortress.
Officially 4100 BTC lost on Inputs.io ~BCX~ Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Quickseller on October 05, 2015, 06:47:38 AM Probably the seizure of SR1's BTC when Ross was arrested, as this amounted to hundreds of thousands of BTC, which was worth millions at the time.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Amph on October 05, 2015, 07:02:03 AM that amount was probably part of the reason why the price tanked afterward, mtgox was also a heavy centralized exchange, too many coins there, there should be more decentralized exchange, everything around bitcoin should be decentralized to avoid this troubles Centralization is not the flaw and decentralization is not the answer. If system if corrupted it doesn't matter. If management of MtGox was good it could still be the biggest, active and prominent exchange to this day. All we need is right people on the right place, not idiots, scammers and thieves running things. with decentralization, you can avoid completely the odds to have one malicious guy running everything, and since money make 99% of people malicious is better to have a decentralization system why having a decentralized payment system when everything that turn around it is centralized, it almost kill the point... Yes, but the problem of decentralization is, who would take care of the exchange ? What if it has a bug ? Who is going to fix ? How do we know that the one who is going to fix isn't going to steal the coins ? isn't the same as bitcoin, who fix the bug in bitcoin the dev team, it would work exactly the same, if bitcoin is working good as a open source i can't see why an exchange can not... Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Falchion on October 05, 2015, 07:13:41 AM on a micro-scale the biggest scam would probably also be even the smallest amount an investor was scammed out of their bits...
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: ginvestor on October 05, 2015, 02:02:14 PM Mt Gox
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: lethalethereal on October 05, 2015, 11:12:51 PM So thats why the police is chasing him ;)
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: SerenaL on October 05, 2015, 11:43:08 PM I had 10btc left in my mtgox account when it went down. Luckily I didnt keep everything in there.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: lethalethereal on October 05, 2015, 11:52:49 PM Thats sad :/
im looking forward to learn bitcoin ;) Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Preen on October 06, 2015, 12:59:52 AM ETH
Lets see, they raise the largest amount in any crowdfunded alt coin, and state in their terms of sale that they are quite literally not obliged to deliver anything at all. Fast forward and they almost don't deliver anything. They pay themselves wild salaries to complete what an average google engineer could do in 1/10th the time, and some how squander their funds so quickly that they are now indirectly threatening the community for more funds if the project is to continue. Just because they have big famous names behind it doesn't make it any less of a scam than your average altcoin. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: givemefive on October 06, 2015, 02:54:29 PM Must be Mt Gox.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: LiteCoinGuy on October 06, 2015, 03:08:18 PM Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: avatar_kiyoshi on October 06, 2015, 06:39:10 PM Any information about this? Yep, a dedicated thread to collect them all -> https://bitcointalk.org/index.php?topic=576337.0 This is nice list, that thread is need to updated. there are still some thief company like couldthi Well luckily, i'm never use mt.gox, but don't forget to mintpal. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: lethalethereal on October 06, 2015, 07:00:53 PM im luckier cause i just started earning bitcoins ;)
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: UserVVIP on October 06, 2015, 07:03:06 PM MT.GOX IS THE BIGGEST SCAM TO EVER HIT THE BITCOIN COMMUNITY IN THE WORLD! NEVER TRUST MT GOX!
NEVER! Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: 7788bitcoin on October 06, 2015, 10:56:14 PM I think the answer is clear that Mt Gox is the biggest scam. Hopefully it will remain to be the biggest and there will not be anything bigger.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: armadilo on October 06, 2015, 11:14:04 PM Bitcoin XT ;)
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: dothebeats on October 06, 2015, 11:42:33 PM The answer to this question is too obvious: Mt. Gox.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Snorek on October 06, 2015, 11:45:05 PM I had 10btc left in my mtgox account when it went down. Luckily I didnt keep everything in there. Have you ever tried to reclaim your btc? I heard that some of the Mt.Gox 'lost' bitcoin are now in the possession of Kraken exchange.They are managing them and hopefully some of btc will be given back. I am so happy that I was not around when Mt.Gox crashed. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: feverpitch on October 07, 2015, 12:46:20 AM Satoshi DICE
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: deon on October 07, 2015, 09:58:25 AM Mt Gox is at the top of the list. Number 2 is all the ransomware. Looks really bad on the community when bitcoin payments are demanded for extortion.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Furio on October 07, 2015, 10:05:27 AM MT. Gox since they were the reason for the hyperinflated prices for bitcoin, and the following dump....
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: mexxer-2 on October 07, 2015, 10:08:04 AM MT. Gox since they were the reason for the hyperinflated prices for bitcoin, and the following dump.... Sure Mt. gox was the biggest scam event that happened to bitcoin but it also raised the price to where we are currently(even if it did crash at $1k) , I'd say if not for Mt. Gox I'd not be in this forum at all.Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: gogxmagog on October 07, 2015, 11:25:15 AM Definitely MtGox but in years to come I think history will look at almost the entirety of the last 5 years as one big scam. Doesn't seem like there is a single honest business out there. It's the Wild Wild West!
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: thinkinger on October 07, 2015, 04:49:11 PM as being one of the scammed people , i think it is cointellect ,second bitcoincloudservices.
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: BitcoinBlackjack on October 07, 2015, 05:29:46 PM Mt. Gox without a shadow of a doubt.
Everything else pales in comparison! Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: Hazir on October 09, 2015, 04:45:12 AM that amount was probably part of the reason why the price tanked afterward, mtgox was also a heavy centralized exchange, too many coins there, there should be more decentralized exchange, everything around bitcoin should be decentralized to avoid this troubles Centralization is not the flaw and decentralization is not the answer. If system if corrupted it doesn't matter. If management of MtGox was good it could still be the biggest, active and prominent exchange to this day. All we need is right people on the right place, not idiots, scammers and thieves running things. with decentralization, you can avoid completely the odds to have one malicious guy running everything, and since money make 99% of people malicious is better to have a decentralization system why having a decentralized payment system when everything that turn around it is centralized, it almost kill the point... Yes, but the problem of decentralization is, who would take care of the exchange ? What if it has a bug ? Who is going to fix ? How do we know that the one who is going to fix isn't going to steal the coins ? isn't the same as bitcoin, who fix the bug in bitcoin the dev team, it would work exactly the same, if bitcoin is working good as a open source i can't see why an exchange can not... 2. Bitcoin is decentralized only in theory, fundamentals of bitcoin is decentralized. - Therefore scam free. 3. But to fully utilize its potential we need to use various satellite services which aren't decentralized at all. -Therefore potentially scam inviting. 4. Bitcoin to be in its true form needs to be used in direct p2p way, without it it is broken invention, potentially full of holes. That is the reason we have so many bitcoin scams. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: mezzomix on October 09, 2015, 06:54:13 AM It's MtGox. But MtGox is negligible compared to the fiat scam.
Quote from: Henry Ford It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Quote from: Mayer Amschel Rothschild Give me control of a nation's money and I don't care who makes it's laws. Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: toinew on October 09, 2015, 08:13:53 AM I'd say the 21 computer is a pretty nice scam, but of course not the biggest scam, yet
Title: Re: What's the biggest scam that's ever been in Bitcoin? Post by: TTMNewsMJ on October 17, 2015, 01:54:32 AM For sure the scam of Mt Gox. According to Wikipedia: https://en.wikipedia.org/wiki/Mt._Gox (https://en.wikipedia.org/wiki/Mt._Gox) "On 24 February 2014, Mt. Gox suspended all trading, and hours later its website went offline, returning a blank page. An alleged leaked internal crisis management document claimed that the company was insolvent, after losing 744,408 bitcoins in a theft which went undetected for years." Yes. It's the Mt Gox. |
