Bitcoin Forum

bitcoin use in pyramiding scam?
there's a lot of people willing to get a money in just a blink of an eye..but using bitcoin in scam is not as good a many others say, some of them willing to take advantage of the weakness of person who had get tired of being poor,dont be so sure of what you do..when you want to get rich you should be a hardworking person.
BITCOIN is a digital currency,dont even use it in scam or in a wrong way get more of it.

While there are people who shows great support for this there are others who use it in not a nice way .. well this is inevitable offcourse because every means that we use today is being used both in a negative and in a positive manner and that's something that will exist till the people stay good or bad .. it's more of an individual problem rather than of the community but that sullies the name of the whole things and that's what's happening with Bitcoins.

Recently, there is a news that bitcoin has been used in an online pyramiding scam and luckily the scammers got arrested but this will be a lesson to those who invested their money in that company.

This is inevitable as people want to scam innocent people and those people who are thinking bitcoin will help them be rich in an easy way. We just need to learn ourselves and try to do some research before investing our money. I don't like to invest in a pyramiding scheme even its legit or not.

I really hate the pyramid system, the system that deprives their members of the money, and is very disadvantageous, I strongly agree if it is imposed a fine with a very large amount or in prison komplotanya.

in the end all currencies are pyramid systems, even if you take only gold as a currency you then get first, the mining industry as your masters and secondly the banks that give you gold certificates for, or like now cryptocoins with "goldbacking"

Yes, bitcoin is a future currency, and it will be very bad if somebody want to try to destroy btc by using it for illegal things, Satoshi created btc so people can easily doing transaction and making the world economic into better shape, but seems like some people are just greedy and like to used bitcoin pseudo anonymous feature to do bad things, and for the one that want to used bitcoin please learn and research before you investing or doing transaction

if it is successful it will be used for illegal things just as the national currencies are used for illegal things,

however bitcoin will be attacked, because of its energywasting nature, and because there will be many better alternatives

bitcoin is just a currency and like any other currency such as US dollar, it is being used in a lot of different spaces some of which are bound to be shady like pyramid scams.
the important thing is to know since bitcoin transactions are traceble (unlike fiat) it becomes harder for scammers to get away with things. and also so far luckily this kind of usage has been negligible.

If you think bitcoin is pyramid scheme then this world door is open for you to get out before you more interesting.
In other side also i dont say its true that willing to earn money without effort in bitcoin is true, in bitcoin also something bot running properly. So hard work is the answer to earn money in bitcoin too.

This is such a bad image for bitcoin. Many are persuaded of pyramiding scams because they want to have easy-money. Here in the Philippines, some people invested their 15 million pesos on scams. This is so heart breaking. Your hard-earned money is swept away by just a blink of an eye. That's why we need to be very careful in investing our money and we should not trust easily. We need to check the background so that we won't be scammed.

Of course this is wrong. And it's not just in bitcoin. In general, cheating is not good. But everyone earns as he can. We must be more careful!

Yes, there are cases that bitcoin involve in a pyramiding scam because of its popularity many scammers use it to scam other people and mostly the victims are the people that wants an instant profit without working it, maybe they have not think that there is no easy money in this days. If only they have enough knowledge about bitcoin on how it was being earned then maybe they can avoid those bitcoin scamming.

I feel sad whenever there are someone like me who has been also scammed ,and I feel also sad if they use bitcoin to scam people.So this serves as a lesson for all of us guys.Be smart and wise in chosing the right investment.

I am hoping that bad people will stop bitcoin in using this for pyramiding scam because it really affects and give bad image for bitcoin. We should use bitcoin in a good way and in returned it help us also to give us good life.

Yeah this happens a lot in the countries like India, Bangladesh, and some part of the Asia. Th reason for this is illiterate rate of the people around the country. Its not like that these country dont have much knowledge about the bitcoin but what they have is insufficient one. I have read so many news from the India that group of people got scammed as pyramid scheme of the bitcoin. Where these people grab money from the various people, then they tell them to catch other people and grab from them. This way the main person gets huge bucks but at the end he runs away with that money. In country like this it is common thing to happen out of the greed of money.

fiat currencies is used for pyramid and ponzi schemes a lot more than Bitcoin and crypto currencies. Most of this scam sites use fiat as basical payment method, but there is also many sites using Bitcoin recently. Thats the fault of people and not related to the currency itself in anyway, people can use Bitcoin for good or bad purposes.

Tell me who has a negative image of bitcoin? Governments and bankers are spreading this fud in order to create a negative image of bitcoin is true. But nobody believes it. Scammers have always existed. For them there is no difference what kind of money to lure people. Before the appearance of bitcoin, they lured Fiat. And probably now the victims of fraud more become the owners of Fiat.

it is used but not as much as you may imagine. there are scams all around us but the pyramid scams are too obvious to be able to be pulled off these days.

such people don't have any money to invest either! this way of thinking alone assures that their finances are always terrible since they lose their money and at some point they become too scared to make any kind of investment and continue their lives without investing anything.

No its not becaue what i have understand on pyramid scam its need you to invite so you can get reward. If that person invite ankther person you will still get reward. And bitcoin is not like that

True, because some people scam other people by using the name of bitcoin to get some money. Those innocent people who don't know about bitcoin but just heared it because bitcoin is popular they woukd tend to believe in it. So that is the reasob why sometimes there are news that bitcoin is a scam because of those greedy people.

Actually there many peoples they did not understand what is pyramid scheme is the process of adding extra individuals into a select network for the

financial gain of the existing participants. A pyramid scheme is only sustainable by the continued input of suckers and their money to then be distributed.

This is the product, nothing more than the sizzle of incoming money. unfortunately, Bitcoin has a plus 1 element, and tends to trigger the “PONZI RUN!”

rhetoric. There is shades of a Pyramid schemes in Bitcoin. Though, do not confuse Bitcoin for a Pyramid scheme.

Some cryptocurrencies and ICOs, YES. But bitcoin, NO.
A system is pyramid when you earn money via inviting others to that system and promise them for future earnings. There are many scams ICO using these system.
Bitcoin is not a scam. You don't make money when invite some one to invest in bitcoin. It causes the demand to be higher and make the price higher indirectly. But it different from a pyramid scheme. If bitcoin is a pyramid scheme, so gold and stock market are pyramid too.

They are talking of something else but using btc to pay the referrals and the invites. Its the same thing, criminals are caught specially here in our country. Bitcoin in my country are very well used and its becoming known even the regular people who only knew facebook are using bitcoin app as they like to earn btc.

OP is pretty vague but i don't think he meant to say bitcoin is scam. he was trying to say bitcoin is used in scams like pyramid schemes. and he is right about that part only. bitcoin like any other currency is used in scams on top of being used in a lot of other legit things.
i still don't get the point OP was trying to make though!

You need to improve your comprehension skills to meet the demands of globalized English and decentralized bitcoin. ;D We won't improve our usage. Mind it..LOL!! ;)

To the OP, we all hate pyramid schemes. Especially when seemingly smarter people decide to take advantage of the naivete of their fellow poor people in developing countries rather than help them.
Everyone wants a secure way out of their impoverished lives and the promise of quick returns attached with the tag of "bitcoin" and "cryptocurrencies" is too alluring for many. All we can do is educate people when you come across one of these and hope for the best..

Nowadays, we all know that there are a lot of people who would take advantage of whatever is in demand. Since Bitcoin has been known to have hit a price previously, scammers had took advantage of it and fooled innocent people where they should be punished because Bitcoin and cryptos are not designed to be used for the illegalities.

Sadly but it is true bitcoin is used on pyramiding scams ponzi schemes if you a join in a group discussing about bitcoin, you will always see ads posting like this "2×4" matrix and you will always see the proof of payout which is fake and person holding a money like a bitch but i still don't get it why people still joining on those kind of scams.

Also dollars, euros and probably every single existing currency has been sooner or later used in some pyramidal scam, so what? Money is money and there are people who use it in a legit mode, and others don't. Nothing more than that.

It is very possible to happen that there are people use bitcoin as a pyramiding of scam, and it is only the management of bitcoin can only make a direct actions on any crimes that acts by people which they used the bitcoin name, because it could make a destructions on the credibility of bitcoin. And also to the people who enters on this particular business, we must careful and aware on any scammers.

I am sure that many of us want a money that instant, means you need only to invest and then wait. But in the end it's only lead to scam. Pyramiding scam is one of the way that you can earn fast, but many if doing it is just a scam. Like in my country.last night, they have news about the bitcoin scam. It is sad that bitcoin have an bad image again.

It is true that many people who want to get rich quickly follow Ponzi pyramid system, and that is a very big mistake and trade is a very good way to get rich wealth.

Bitcoin is only popular today because of the acceptance from black markets in using it as a currency to avoid authority and launder money. To say otherwise is patently false, and even the CEO of Mt. Gox now has said that after the addresses of Silk Road were leaked, the data suggests that at least 30% of all trade volume was in some way related to Silk Road. Just one piece of the black market back then.

I agree that people shouldn't be harming others or committing crimes, but cryptocurrency and really any cash currency allows it. It is not biased what it is used for.

This is because of the very less information drive of bitcoin that some people took the advantage to those who are ignorant of it. I think there had been 2 cases in I saw in the news that bitcoin was used as an exit for an investment scam and it is so sad for those who are earning honestly in bitcoin.

These past few months there's a lot of people who was caught of making bitcoin involved in pyramiding scam. They tell the victim that they can easily earn money if they invest in bitcoin through them, they collect and collect the money of their victims and then that's the time they will run with the money they collected. If only people are not so ignorant and atleast learn some things about bitcoin, they wouldn't be a victim.

This was the reason why the bias media gave negative impression and generalized Bitcoin as a new form of scam. This was also the reason why theres a huge cryptocurrency adaption problem in my country. But atleast as the time passes by,  people slowly learned about this new technology and start accepting and embracing the decentralized idea.

This is a new trend now, they used to use paypal and other traditional payment processors but since Cryptocurrency is anonymous they turn to cryptocurrency and many people have set up and joined this kind of program, it's not the program but the people behind it are to blame for this .

The number reason why a lot of these scams using Bitcoin went successful is that people are in a hurry to get rich. People tend to be greedy. They are also lazy because they do not even care to check the background of the investment they are entering into. They are not even making sure that these investments are for real. They always want everything to come to them fast and easy. In the end, they all became victims of these equally lazy scams.   

Well, those who have read the white paper have the idea of what Bitcoin is all about. Bitcoin is a payment system in the first place having some more benefits as compared to that of the traditional payment system. However, it is different from that traditional system and there is lack of maturity in the market and scammers are exploiting this fact and defaming Bitcoin through their actions. Bitcoin is not a scheme, it's a philosophy that upholds the right of freedom through decentralization.

Are you interested in an alternative which is not wasting any energy and is very cheap right now? activity token.
Being easy to mine, I could use my laptop to mine. I used my laptop to issue my token, nobody is buying them.


Tell that to some people here. prepare yourself to be verbally abused as well.

In Russia, there was a man who showed what a pyramid is and how it works. But people do not understand much and still think that it will make them rich. Now a lot of Scam projects - then there are those who invest in them. a kind of balance.

I agree with the hardworking part one should have to work hard not to make money for himself that might be for someone or because of his responsibilities but I don't agree with the pyramid scam theory Bitcoin is not pyramid scheme because people are not inviting others in order to make money they are just inviting other so that market can become much stronger and much more people join the network so the price can go even higher where is not controlled by the number of people but because of the theory of Economics.

These things are just for saying. Nobody follows them because everyone today is in search of some short cut to earn money easily without any hard work. This is the mentality of the most of the people today. They just indulge into wrong works and become the wrondoers to spoil everybody's life. this is the worst part of the crypto world. Where the new ICOs are being launched to scam innocents and make money out of them. this is not a good method to earn money because ultimately you are making other's live hell!!

no bitcoin isnot in any part or havea ny connection in pyramid scam you dont get money for refering people or something like this its just like any other currency

Why is using bitcoin in scam not as good as others say? Bitcoin is of course good in using scams, because you can collect it anonymously and there are surely some naive people out there who want to make a quick money and do not check the projects or are cautious because huge winnings are promised!

Yes, some people use the pyramiding style to scam sone people. They just steal our bitcoin in just blink of eye. So be careful in investing. Because in my country there are some case that using bitcoin and pyramiding to steal some money in people  people love to make money but sometimes it can lead to worst case like stealing the money

Well there might be sa instances but mostly bitcoin scams are from mining and investing which is very popular today, I've been in so many mining scams on bitcoin and I lost alot of money from it, they even have videos on their CEO on that mining scam so that you will be lured to their dark plan...hoping that karma will suited to them

Bitcoin is store of value. Its called store of value because we can move our asset with bitcoin and make transaction with fast. If bitcoin using pyramid scheme, bitcoin should be not using blockchain because blockchain is transparant legder that no one impossible to hack.
Bitcoin is real currency and right now many people considering bitcoin as their investment like gold on our real world.

It is sad to see that as much as bitcoin becomes an opportunity to earn profit and be successful it has also become an opportunity for these scammers to earn money by looking for unwary victims who doesn't have the ample knowledge about bitcoin to protect themselves. I think this affects the image of bitcoin more and hinders its progress towards acceptability throughout the world because of these negative instances.

Yes this is one thing that is similar to fiat. Bitcoin is also being used in pyramiding scams especially because bitcoin is easy to pay and transfer from one another. We cannot avoid these circumstances we just need to be more knowledgeable on cryptocurrency and vigilant on people who wants to connect with you through such things that involves money.

It happened to my country. P900M got scammed buy an online investment group using bitcoin and people were very easy to be convinced that they'll get that so good to be true profit but no money was really paid back to the investors.