Bitcoin Forum

Just came across a recent article: https://scroll.in/article/864949/bitcoin-scams-how-indian-investors-eager-for-quick-profits-are-being-duped-by-conmen

He forgot to mention the big daddy - Bhardwaj.

The Indian government is waiting for the report of an expert committee set up to examine untill the report submitted we cant say whats the future of bitcoin in india

Yep, how can they forget the great M-Cap blunder...But these kind of guys are mushrooming everywhere, last month I heard of a guy in my neighbourhood endorsing people to invest in some ICO which only had a one page website and recently I received a bulk SMS offering Bitcoin at 30% below market price.

Actually, Mcap founder gave full-page advertisement on all national newspaper on cryptocurrency course which gave him nationwide publicity and fame

yes, he has done that several times and also written a so called 'book' on crypto which is absolute nonsense and rubbish, luring innocent people to invest their hard earned money with him.  Please be aware that any company associated with Amit Bhardwaj is a scam - GainBitcoin, GBMining, BitcoinGrowthFund, MCAP Tokens, etc, etc, etc

Is it really a scam? `

is the sky really blue?

https://www.change.org/p/commissioner-of-police-delhi-arrest-gbminers-founder-amit-bhardwaj-and-make-him-compensate-those-he-has-scammed  Please sign peition

Thank you..

yes, it is scam.

have you heard about jio coin scam ??
just after jio coin news some one created jiocoin token on ether blockchain and also made a site .
then he sold them and ran away .
however it was not published in news . but really people dont investigate before investment .

Thats is why the government are regularly saying beware of you investments while you are investing in crypto and some of crypto community blaming govt that they are taking steps towards it,crypto scam have increased due to lack of knowledge among people which cause them to loose funds.people thinking of instant profit are investing in btc without knowing the pump and dump game of market thus they become victims of whale manipulation.

There are a lot of scams in India regarding crypto-currency. People(software-literate and software-illiterate) have been duped for crores of rupees by the conmen from time to time. However people still fall prey to those scams. You can't help it. Anyone putting money without prior thorough investigation is a fool. And there is old saying a fool and his money are soon parted.

This is mainly because there are no proper regulations regarding this. I would not be surprised if any leading exchange here runs away with the money of investors. Once government has come up with some regulations, we can be little safe. For instance, there should be requirement for these exchanges to deposit some money at the government for operation. Also, their owner should not be allowed to leave India without taking official permission.

you really think it could be banned?
meaning btc and other coins?

that would be really huge step back. still, quite not likely

this market is not regulated anywhere yet. US tries to regulate it but it looks really weird and not fair. Still, adequate regulation would really be useful and look more safe for market participants. We'll see what comes next.

Greediness to earn high profits in short time span often lead to these scams. So it is wise to study and research properly before investing in an ICO or any other existing coins.

agreed. fast money making in many cases may lead to infu**ingcredible concequences. some people may earn money fast in some spheres, like cathing the trend in trading currencies (both fiat and crypto) but when it has success without any preparation or pre-study - then it's quite a rare thing.
each success has a preparation before it.

still, you'll never know when and where success cathes you.