Bitcoin Forum

Many people are still fall on this kind of bitcoin investment scheme.
Recently heard about the news of $17M bitcoin scam (Biggest scam on that country)
( https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam )

I have here the list why people are still fall on this trap and maybe because of:

*lack of knowledge
*thinking for easy money
*they really not care about this market or
*Being feed with a wrong information

To prevent yourself from being a victim you'd better to start making an effort
to learn more about cryptocurrency, this is not an easy money you still need to make effort.
Any thoughts about this thing ?

Many people think cryptocurrency is an easy money thing, but in reality you cannot have profit when you know nothing about this market. Scammers are spread out around the world, and the only thing to prevent that is thru your knowledge because if people know everything those scammers will not succeed to scam people. Let's start helping people to fully understand cryptocurrency or bitcoin because we know this is a good opportunity that everyone should know.

Well those scammers had a fill of those people who have no idea what is bitcoin all about and just give their money because they thought that they will earn. In the Philippines a number of Filipinos every year have been victim of such scams. Back to 2012 I was also a victim of Aman Feature Scam and lost 4k$. But I learned a lot from that; it was broadcasted all over the country  but still many Filipinos does not learn from having lost a huge amount back then. With bitcoin being famous, scammers are now back again using bitcoin as a facade for their scamming activities.

Scammers are everywhere like what happened in the Philippines last day almost $20M scammed with the Filipino couples and its a bad news to all the Filipino investors of bitcoin.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

And yes, they are lack of knowledge about bitcoin and thinking for an easy money, and they really not care about this market. Being feed with a wrong information. This are the weakness of the people get scammed.

It’s not really easy, just like what happened to me day before yesterday – I was surfing the web and immediately I was automatically moved to a page that claims that I should complete a survey and stand a chance of winning an iPhone X or something different, after filling the survey I was told to pay $1. I checked people’s reviews and all the reviews were claiming that it was legit and some were like `I got my iPhone X today… I didn’t need anyone to tell me it’s scam. No one would be giving out iPhone X for free to millions of people online, man it’s not a toy.

Scam does not only happen in the crypto industry, it happens everywhere. So I don’t know why people will be blaming Bitcoin whenever they are scammed. Bitcoin wasn’t the reason why they were scammed, it was due to their own stupidity.

Bitcoin is not a scam in a disguise,who ever that is afraid of bitcoin being scam should not invest or pertake in bitcoin.believe me you,in two years time,they will join us and talk about bitcoin

This is the reason why so many people are afraid to invest or even get involved in bitcoin, because there are so many scam and that is the only new that comes out to the public.

The scam you encounter is just an old scam and it happens everytime, every day. A lot of people have helped marketed that shit and didn't even know they are helping to promote fraud; how can you pay $1 to get an iPhone X? To me, the people who fall into this kind of scams are greedy. And OP, its not as if its only in cryptocurrency, scams are everywhere and they are good at involving in any new opportunities just like bitcoin.

Those who suffered losses here, they would argue that cryptocurrency is a fraud. Though they themselves do not know much about cryptocurrency, try it for those who fail to learn more about cryptocurrency.

Ya people that get scammed in "crypto" will always go on to call Bitcoin a scam. That's just all part of it.

Yes, as in all business there are scams. But thanks to the massification of the negative and to avoid spreading the positive is that people no longer want to invest in Bitcoin, it is about achieving a balance and that the people who invest know how to take risks and also good decisions without risking so much.

of course a layman or a novice would say if all this is a big scam and nonsense. How come? from the price of $ 250k, fell to $ 8000. whereas they never even see the bitcoin price charts from previous years, until the moment of rising to the moon at the end of last year.

that is a naughty title that you chose with the article that you also included ;)

the fact is scams like this happen all around the world with fiat but you never hear anybody say "scam in the name of US dollar"!!! but since it was bitcoin then everyone is making the bitcoin part of it bold. well that is just naughty... and it is mostly because we were in a downtime that everyone loves FUD including news sites.

People who cheep to the scammers are people who wqbt quick money, we learn should learn not to fall victim of this scammers they are every  where.

Many actually appear to be scams and the name that is used is bitcoin so bitcoin is also mistaken for scams. They do not know much of the bitcoin helped by trading in its coins. So before we join to the investment research first and find out if the company is legit. If im with you just strip a bitcoin and definitely somehow i will earn by bitcoin and definitely legit bitcoin . you definitely have more to invest in bitcoin when more are it knows and more will trust the bitcoin capability

No wonder why people are always talking about PHilippines banning bitcoin and cryptocurrencies.

People lose money because they are foolish and greedy. They want to make a big profit in just a few days wich is possible but it happens only 1 out of 100 times so the risk is very high. I never understood how people can belive in this scams. They promise to give you a 10% daily profit or so wich is an incredible profit even for big companies like Google or Amazon. The best thing to do is to never invest in this kind of websites even if I know some people that know how they work and make a profit everytime because they know where to invest and when to stop.

Now a days thats true many people thinks in cryptocurrency is easy to earn huge profit they are greedy they want to huge profit in just month or days?, Scammers are everywhere, better to gain some knowlegde about cryptocurrency to avoid this case,

I personally was a heavy advocate on that investment scheme scam and tried to inform people that there's no way these dudes will make 5-10% of guarabteed returns in just 16 days. I was mocked by the people who supported the said scam saying I'm just a noob trader that's why I can't do the gains they do. Fast forward 3 months after, I've read an article on a newspaper about the bust of that NewG 16 days investment scheme. That was the biggest "I told you so" moment in my life. Most investors who were lured didn't have the slightest idea on what bitcoin is or how it really works, that's why they immediately trusted these people without doing any researches and background checks of their own
 Que sera, sera; a valuable and pricey lesson was learned on that day.

Definitely not because bitcoin offers a great opportunity for everyone. Let time convinced them to understand what bitcoin is all about, this time lets help people to understand cryptocurreny in a right and good way stop spreading FUD news and don’t try to Hype beginners.

Scammers will not stop to scam people, so we better to be more careful when dealing with people even if they know them. People think for easy money now, and they see bitcoin as a one way of doing that but the sad thing is they are being scam by greedy people, but justice is serve and for sure they will stay in jail for good.

There will always be a sheep on this planet. These people are seduced by high returns. Knowing how hard life is living in the philippines, some are desperate in order to have a stable living. To be honest, one of my friend is an Upline at NewG, and being an upline, he managed to collect almost Php 50m($1 million in USD) in capital. He's been loyal with their boss. He manged to generate a decent amount of Money of 4-5m PHP. Now he don't know how he's going to repay all the money from investors. That's how ponzi scheme destroy lives.

Bitcoin is not scam and it is very good potential digital currency, in crypto world many scam currency creating everyday but beware of that, Bitcoin is good investment platform and you can earn good money from it, dont be think it is scam

Large return on investments are totally suspicious mostly if the investment company have no legitimate sources of income to cover all the investments money and the guarantee that it will expand, in the first place they should be avoided that kind of scheme cause cryptocurrency are unknown to them it should serve as a lesson to those people who invested and heard this news, Op is right the locals must be educated with this kind of currency so that no one can fool them into investing, serves right for the scammers they go to the jail anyway.

One of the pain reason under the list why people get scammed under the name of Bitcoin is getting influenced in the talks of the other person. One should always research before making any sort of investment also once its it comes to money matters you cannot trust anyone. There are number of coins which try to foul people and attract in the name of Bitcoin under Ponzi schemes, newcomers need to be aware of such schemes.

if it is all about NEW G well i think the founder or president or the creator of new g has lack of experience to orientate those clients.. he spoiled the first batch when the price of bitcoin is around 19000 to 18000 usd but however when the bitcoins fall down he didnt know what to do how to explain it clearly so the investors get panicked. they report anomalies about new g even the governor of nueva ecija mr. oyie umali is a part of this. the main cause of this issues was the lack of experience handling clients and also he did not diacuss clearly what is they were entering. just like any other networking legit company

Be careful and be aware in bitcoin there's a lot of scammer using the name of bitcoin.study first and read the bitcoin system before to invest some people want to earn big and get a high number's of investor to use..after that your investment will disappear there's a lot of scammer cases in bitcoin please guys be aware. ;D

Scam in the name of bitcoin is quite common, because at present the knowledge about bitcoin is found very less among the people. Using this as an opportunity scammers cheat the common people. One such incident is the Philippino couple scamming such a big amount.

Yes they also uses bitcoin to scam because they know that they can get to jail because they hidden their identity in the identity of others and this is internet uses so you didn't know the persons you've token personally and you can't see them physically.

agreed, lack of knowledge will be the reason why people are getting scammed. they have no idea what bitcoin volatility is and how it is getting harder and harder to mine. they always get outshined by the high payments that is promised on their deals on such investments that results as scams in the end.

It could be the combination of what you have said. They thought that they can get easy money and good return of investment, and their decision are clouded when they hear that they will get X amount in X days. But logically speaking its not possible unless is a Ponzi scheme which its turns out to be. To prevent yourself from being scam? Don't invest on them period. Used better judgement and probably asked people around perhaps. There have been a lot of investments scams in the Philippines but people still didn't learn from the past. Its just really sad though this time, it involves bitcoin which put another taint on its name.

There are real scammers and there are people who do not believe in bitcoin thats why they say that bitcoin is a scam. I can advice that The best thing to do is to never invest in this kind of websites even if I know some people that know how they work and make a profit everytime because they know where to invest and when to stop

I agree with you. lack of knowledge is the main reason makes them get scammed. This year in my country, 15M Bitcoin is scammed because people invested in a new coin/ token.

Well it is the responsibility of an investor to do adequate research on the topic before investing funds in any sort of schemes. There have been lots of incidents of this kind in the past and things won't change unless the people investing here take enough precautions not to fall for these sort of ponzis.
A saying goes "Never take up the deal if it is too good to be true." and being offered over 10% a month by means of mining and trading sounds way too good to be true.

They easily fall for wrong people.And the victims are eager to become rich thats why they easily ecourage for what they are promise to them  without knowing anything or  they are lack of knowledge on what they are entering. I feel sad for those people who are scammed.

Scammers keep coming with new ways on how to defraud people out of their hard earned money, some are so good at it that you will be taken back by what they have to offer. those who fall into these traps are those that aren't curious enough o pay attention to detail and learn more about BTC, they therefore be live in anything that comes their way with a good deal, and end up getting scammed.

To avoid the naughty behavior of the scammers, the most powerful way of course is to learn everything about Bitcoin. However, there is nothing wrong for you to know the types of Bitcoin scam that is currently rampant

It has nothing to do with the scam by the group of newg in philippines, they have scammed almost one billion, and I don't have further information if they are going to have the full refund to investors who are askingv for justice and base on the given information some investors are teacher. I don't even know how did they manage to be deceived by those scammers. Real lose to them. It's better to sweat than to take anything for granted.

Well those scammers had a fill of those people who have no idea what is bitcoin all about and just give their money because they thought that they will earn. In the Philippines a number of Filipinos every year have been victim of such scams. Back to 2012 I was also a victim of Aman Feature Scam and lost 4k$. But I learned a lot from that; it was broadcasted all over the country  but still many Filipinos does not learn from having lost a huge amount back then. With bitcoin being famous, scammers are now back again using bitcoin as a facade for their scamming activities.

Greed in combinatoin with the missing knowledge mostly leads to losses due to scam projects.
The majority of investors who came to crypto in the last year are here for $ profits.
After seeing ICO's partially being an extremely lucrative option, people simply hop on coins/projects which get shilled everywhere.
Most of them don't even read (or touch) the whitepaper at all. Some random reddit/medium/twitter posts are enough to convince them to put money it, with the only intention to sell them later (for a profit).

Until people grow up and use their common sense before throwing their BTC/$ away, there will be a ton of developer who will scam the less-clever people for their own profits.

I heard that news about a couple use bitcoin to scam people. It was my partner who send the article to me and he want me to stop doing related about bitcoin. Before i join signature campaign, i lose a penny when i invest in mining so he was negative about bitcoin. But i do believer of bitcoin and i do start to research to learn more about it.

The time I did not understand how bitcoin work I always fall victim of some of those HYIP. Some will go as far as asking people to invest one bitcoin and get three bitcoin within one week. Most of them will say they are mining. Then I did not even understand what mining means when we are talking about blockchain. I  am very happy to be a member of bitcointalk because through this forum I have gotten information. I cannot be deceived any more.

Yes i believed most  victim of  invesment  scam are those people who entered the world of digital currencies has no enough knowledge and just thinking easy money. Then after all they blame bitcoin as scam. They dont know that people who do it and they use bitcoin as a tool to scam people.


#Taklimakan

Some people say that bitcoin is scam. They believed thay it is not trusted but they reallt dont know how bitcoin helps everyone. They are not knowledgeable about it thats why they believed about false information. It is really usel specially you can work at home and pay.

it's all down to knowledge and education, nothing else. People are too gullible and scammers are exploiting that. It happens with bitcoin and with fiat money as well..

Theres only one major reason why they become victim of that scheme,its GREEDINESS they are aiming for big profit in just small margin of time.i hate to say this but its their own fault why they are looking for justice from the mistakes they already know from the start,its just the greed attitude of them is what pushes them to invest in thay scam

That was a very bad thing happens in the filipino investor of bitcoin. I also heard in the other news, Bitcoin name using to scammed other people what to invest on bitcoin. They talked the people and attract using their money said from bitcoin to invest people who talked. And people was attracted because the profit of bitcoin per day said the scammer. I was imagined, Why they needed to scam other people if they can to make money without crime or scammed accusation.

I do not know why the people in our country are so foolish. A few months ago, this type of scam was exploited how the operation works. It is the original Ponzi scheme that we people should already be aware of. Good thing justice is served but I pity those numerous victims. They were victimized by their own ignorance and their recklessness in making their financial decisions. Clearly, those victims lack the financial intelligence and they were easily manipulated by other people. We should always learn that money doesn't come off that easy and trust is a vital part of ourselves. Thanks for sharing this article because this will greatly reduce the ignorance of the people specially in my country though.  8)

If you find ad phrases like "Buy Bitcoin 5% lower than the market price. Achieve Big Profits ", then feel free to move away from him immediately. It is one of the scammer marketing strategies that want to deceive prospective clients with the lure of unrealistic big profits.

The initial signs of a fake Bitcoin Exchange is the domain. If it only starts with "http: //" instead of "https: //, then Bitcoin Exchange does not have a reliable security protocol. To take safe steps, immediately leave Bitcoin Exchange so know the quality of the domain.

In addition, you also need to be wary of Exchange sites that offer Bitcoin redemption to PayPal. Generally, the redemption procedure begins by filling out the PayPal email form and the amount of money you want to redeem to Bitcoin. After that, you will be given QR code to activate the process of sending Bitcoin to your wallet. Although it looks convincing, the steps are just the guise that made a scammer to divert your PayPal funds into their own personal account. In fact, your Bitcoin will never get to the destination address. Bitcoin Exchange fake sites are popping up and usually do not last long. Once the deception is uncovered or the business is not sold, they will reappear with a new name.

Well this news is not a new one and I honestly think that everyone is at risk.

In my opinion, Philippines is still one of the countries that experiences poverty which if generalized, a family or individual will do anything just to survive for a living.

That makes people enter any jobs even pyramiding scams or networking and bitcoins as a new trend here in the Philippines.

I am not degrading my own country, this just my view
I personally think that such cases can happen to anyo e in any country and it is true that without appropriate knowledge about crypt o currencies, there are higher risks.

There are many fraudulent leeches that try to take advantage of any successful endeavor. It happens to Google, Facebook, Amazon, Microsoft, stocks, real estate, oil and anything else that there's money involved. It is up to us to be skeptical to a reasonable degree and informed.

Here in the Philippines, there was this recent news about this Bitcoin Scam where a group of scammers will offer you to invest money to them and then after 16 days you will get plus half of the money you invested. It was called the NewG Company headed by a certain Arnel Ordonio and his wife, Leonady. They made NewG Company and promoted Bitcoin as their form of payment to lure their victims which are mostly rich people who wants to earn double amount of money they invested. How much money did they get from scamming people? 900 Million Pesos. That is a very huge money here in the Philippines. So the lesson for us is that we have to be more extra careful and vigilant in trying to invest money because if we will become ignorant, we can be victims of these evil scammers which are just waiting for another victim. Goodluck everyone in investing money for the future!

This is what the thread says so. Bitcoin isn't scam and those people who are taking advantage of bitcoin are the scammers and they are looking to those victims that doesn't really have knowledge on what bitcoin really is. And once they have found their victim, they are making those investors believe that they are into bitcoin but not knowing they are a scam scheme so the news is spreading and they even invite their relatives and friends to invest with them but at the very end of it, they were all fooled by those scammers.

I think a lot of it is just greed. People see everyone is making money and so they want a piece of the pie. But they don't know how to trade, or they're too impatient/emotional, so instead they go for these ponzi scams hoping it'll work out. It usually doesnt

yes yes youre right here in our country many people using bitcoin to scam. want easy money even they dont know how it will works like me in first place i dont know bitcoin and but before i go in crypto world i search and ask someone that invite me to this bounty and trading and it changes my life

there is a lot of scams in the name of bitcoin like bitcoin cash , dark , .... and there is that MLM shit which you need to bring someone to earn and there is that ponzi but this are not in the name of bitcoin