Bitcoin Forum

The fact that really amazes me is how such a low rank (sorry, no offense) country is able to become one of the leading countrues of cryptocurrency using whereas such big countries like Russia, US are doing nothing, except issuing the regulations and taking taxes for crypto using. Ofc there are lot of scam, and a lot of are recovered but the problem is not even that there are a lot of them, but that the government looks at these cases and, in general, with distrust even refers to the blockchain technologies themselves, which in fact do no evil to anyone. People must separate cause and effect. A blockchain is not the cause of fraud. It occurs when general market rules are not created.

Well this simply shows that the indian government  have concerns about their citizens,US dont give a shit about blockchain/crypto scams never heard some hacker/scammers  in cryptocurrency got caught on US or in any other more advance country compared to India.

The biggest scam for Bitcoin ($14 billion) is from Indian who was owner of bitconnect.com so Indian police will do the job. Actually India is known for the biggest scams in the world.

Indian Billionaire scammer "Nirav Modi" was standing next to PM Narendra Modi in Davos summit. The picture was shown on TV.

The Indian government has always welcomed technologies openly knowing its consequences and has dealt with such scams no matter how tough it is. Blockchain is the emerging technology knowing this they are utilizing it in various business sectors but about cryptocurrency, they are taking the safe steps and delaying the decision.

That's why India is somewhat very reluctant about regulating crypto because of this cases. But I applaud them for running after the guy, a lot of small or developing nations though are really upping the tempo and trying to catch those bad actors, so it's not fair to say that no one is really chasing on those big time scammers.

It's good to know that a country like India is doing an action and proper sanction for incidents like this. We all know that the number of scams are increasing and it's something that we must do something about. A country like India is a developing country and despite having lots of scams from their country, they were still able to control it.

it may be because (at least partly) of the fact that there is a lot more scammers in India and with a much bigger amounts compared to other countries. which is why you see more of these big scams being unconquered. otherwise if you check the news you can see in other places similar news exists. for example recently in US they arrested someone who has scammed people in the millions through ICO.

Low public awareness is the biggest challenge for crypto investment. People learn a little basics, and want to get quick money, which easily leads to the devastation of personal budget. Frankly speaking, I myself looked at the ICO projects with delight, although I was surprised at the number of scammers with such a volume of interesting ideas. But I was helped by educational materials of the blockchain and cryptocurrency on the taklimakan platform. And now I see that it is better to study the investment system than to give money to ICOs, most of which will not be implemented

I also see the positive aspects of such new technologies as blockchain, but since I don’t invest, I’m not afraid to be left without pants. The worst effect is, people think that they need to have time to get the benefit, and invest in cryptocurrency without personal control.

Lol. I don't think so. I do agree that are many scammers in India, but they are leagues away from the biggest scammers who can be found primarily in Russia. They possess some of the best hackers in the world which is why this is not surprising at all.

Some of the trickiest scammers on Earth are world leaders these days. Scammers exist everywhere, but the smart ones always pull ahead while the idiots get caught like in the news op mentioned.

i obviously haven't done any research and it is just my observation. but what i had in mind was certain types of scams that are mostly common in third world countries compared to developed countries. this types of scam include things such as Ponzi schemes and anything similar to those. and i have seen lots of them take place in India and have a massive popularity.

Is this what you're referring to?

https://cointelegraph.com/news/indian-police-uncover-cryptocurrency-scam-involving-bitconnect-promoter

If so, they uncovered the scam, not necessarily recovering whatever money got stolen. Good for India though I suppose.

Being from India i dont think government is taking crypto or crypto related cases seriously. i dont know from where you got that perspective that indian gov is fighting crypto scams very efficiently . For me it looks like gov official dont even understand properly what is cryptocurrency. You can check various news article where they mentioned bitcoin 7 ethereum as a ponzi scheme .

It is impressive that they were able to recovered that much money from fraudsters but if we consider the amount
and numbers of fraudster in the country I think it is still not that big. although I applaud the Indian government that
keeps an eye to these fraudster so the victims will be reduced.

You totally missed the point, in my opinion,,, India is not ahead of Russia and US, they practically banned crypto so far, did you know? Follow the news, the country cannot even do business if it is crypto related, until the regulations come out, and even so Supreme Court is delaying cases with the banks vs crypto businesses,,, At least you can put out big ads in USA like the Wall Street guys do.

It is true that the current Indian government does not care at all about BTC and crypto in general, but this in no way means that they aren't doing anything about scammers.

Check these links out:

https://cointelegraph.com/news/india-police-arrest-four-more-suspects-in-alleged-14-million-crypto-scam

https://www.pymnts.com/news/security-and-risk/2019/crypto-scam-india-millionaire/

https://www.ccn.com/indias-bitconnect-promoter-third-crypto-scam

Great to see the Indian government doing something about these pathetic scammers.

Muahhahahahahhaha
The joke of the year!

The US and the European countries are doing nothing for Bitcoin, India is the one fueling crypto!!!!
 ;D ;D ;D ;D


And do you read the articles and the follow ups as well?


https://thenextweb.com/hardfork/2019/06/04/india-bitconnect-cryptocurrency-scam/


Oh yeah, so much is done to combat scams in india...
Isn't there were Quadriga's boss faked his death certificate?



When you don't have a clue about the stuff you want to discuss, do the world a favor and shut up!!
https://cointelegraph.com/news/unpacking-the-5-biggest-cryptocurrency-scams





India...lol

You cannot run any of these scam ICO from USA nor the citizens are able to invest from USA if you are not aware of it and it is not a new thing as it is like that for years, checks your stats before taking about scams, India as well as these third world countries are behind pulling off the biggest scams known to mankind and it is good to see for a change that actions are being taken against these scammers rather than being corrupt and settling the case.

In comparison to the support from Western nations what India has contributed is very minimal. India keeps on advancing, but there is a opinion looking bitcoin as a threat. Technology is getting spread, but it is getting hard to get recognized on third world countries. As of now from Asia Japan has done a large scale adoption. Maybe in the upcoming years more adoption could happen from India and other neighboring countries.

I am happy to note that people in the government of India area really serious in running after scammers. Actually this is not the first time I heard about an incident where scammers are brought to justice and have them face the music of what they did. Frankly speaking, it is not that easy to run after scammers so congratulations to the Indian government for this nice achievement and may this inspire other countries to also be strong in following and running after scammers.

What do you mean by India a low rank country, let me state some facts about them i know and from what i understand they are a developing country

• The majority of the IT experts around the world are from India  
• The space program is top quality and they do things much cheaper than the rest of the world
• One of the most diverse country in the world and majority of them knows multiple language
• Land of Ayurveda, Yoga, Kalaripayattu
• Taj Mahal, Taxila

That being said it is a land of corruption too and if some official stand up against these scam then they will be put behind bars and there will a lot of political involvement when it is a high profile case and it is a big problem but there is nothing big to amaze here as US have taken strict actions against ICO and people investing in scams in 2016 if i am not mistaken.

Triple facepalm!!!!!!!

US           19 trillions.
Sweden 0.58 trillions
Finland  0.25 trilions
Norway  0.40 trillions
Denmark 0.32 trillions

At least you didn't say that the economy of Carpathia,  Edonia or Genovia is bigger than that of the United States.

I would suggest you to first remove "low rank" instead use developing country. India in no way is low rank, it is one of the most powerful country in the world in every asset.
Now coming to the main course of this thread. Every new technology is warmly welcome in India, even BTC is not banned here but its not legalize because a huge number of population does not know about cryptocurrency here and and may fall prey for some scammers as it had already happened. Current govt is very strict on scammers, they will not find place to hide themselves.

Being one of the lesser evil does not remove the fact that there's still something wrong going on with India and its domestic markets. Sure it does the job on uncovering a lot of scams but do know that among other countries, India has a lot more scammers and crimes perpetrated by the said people, one of which was bitconnect. Anyway though, amongst the said countries, India must be the least corrupt, knowing that they really are chasing after scammers as compared to the US and Russia.

India government already knows blockchain and crypto currency aren't the cause of frauds scams. They have been learning with other countries since some years ago what stance they should take towards this new virtual financial space. If they were totally against it they wouldn't spend time doing that, also India loves technology, they couldn't be so ignorant on this matter to blame crypto currency.

I just think there are many news from India authorities investigating and busting scams because people there are too innocent and fall easily for scammers. In other countries such Usa it doesn't happen too often as people are more aware about these frauds.

The Indian government is very different from the government of the US. Indian government intended that they will do everything to protect their country no matter what crime is, the U.S there are so many people and problem so I guess they didn't have the time to focus on what is happening in the internet crime.
I also amaze how Indians reacts in this kind of crime.

I am taking back that statement, what i meant was the economic growth per capita is better in Scandinavian countries than in US and Russia. ;D
Thanks for correcting me, bigger might not be always better  ;).

Another facepalm

https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD
Real GDP growth
Annual percent change

United States 2.3
Sweden 1.2
Norway 2
Finland 1.9
Denmark 1.7

Do you want to try it a third time?

Since you want to make me face palm again, here is the data shown in the site you provided.
http://i63.tinypic.com/23h8wtc.jpg

It is not a hidden secret that Scandinavian countries are the best places to settle, we will have a debate if you are looking for that buddy.

Image taken from the site stompix provided (https://www.imf.org/external/datamapper/NGDPDPC@WEO/OEMDC/ADVEC/WEOWORLD/NOR/SWE/USA/DNK)

Just looking at the chart you will understand what i am trying to tell  :).

I believe you are referring to bitconnect scam! If yes, then let me tell you that Indian police force are only able to crack such cases where no politicians are involved. It's not because they lack anything, but it's because Indian police force is usually controlled by the politicians for their own good!

I will exactly go by the example of Neerav Modi, Mehul Choksi or even Lalit Modi! They are still outside the prison due to their strong political backing. The list also includes Sahara India as well as Vijay Mallya. I am sure the bitconnect promoter didn't have strong political backing which got them fucked!

Again triple facepalm.
The second line (blue) is the US, in your own proof the US has a bigger GDP per capita than 3 out of the 4 Scandinavian states.
You don't know how to read a graph?

Second, I'm not your buddy and telling ME about how life is in the Scandinavian countries is hilarious.. ;D ;D

Now, that's GDP PPP per capita, it has nothing to do with what we've discussed earlier.
You try to come with indicators what have no connection with the previous just to say something.

Since this is not a secret for us living here in Europe let me enlighten you also.
In terms of GDP PPP per capita the order in Europe is:
Luxembourg, Ireland , Norway , Switzerland ,Netherlands.
As you can see, out of the top 5 countries, only one is Scandinavian.

Let it go, admit you have no clue what you're talking about and be done with it!

So you didn't see the chart of Norway, what you are trying to prove here, you are an encyclopedia  ::).

I do not care where you live and i am least bothered about it, what is so hilarious about it  ::).

This has gone away from the initial topic, if you want to prove something, start a thread to shower your knowledge but still you did not see the chart of Norway and still face palming :P. I am not writing for any examination so i just clicked the Countries you mentioned above to see the graph and presented it here.

Hope you are reading what i said instead of being a jackass, i was not comparing the top countries in terms of GDP, i just said it is better than US and Russia, is it so hard to understand and read simple English  ::).


Let me see how you reach the truth, here is your earlier statement in this thread, you just proved that you are a keyboard warrior trying to change the world with conspiracy theories, FBI did not find that he faked his death, but you did how amazing   ::).
Hope you will not tell that FBI will find out the truth from you  :P.

India:

Report: India Considers Complete Ban on Digital Currencies (https://cointelegraph.com/news/report-india-considers-complete-ban-on-digital-currencies)

Indian Crypto Exchange Coinome Halts Services Citing Regulatory Pressure (https://cointelegraph.com/news/indian-crypto-exchange-coinome-halts-services-citing-regulatory-pressure)

as you can read, The government of India has not taken a favorable stance for bitcoin.

1. So it was Scandinavia and GDP

2.  After it was Scandinavia and "economic growth per capita", which btw, is not a real indicator, it's your invention.
 

3. Next we're down to Norway and GDP PPP

So you meant Norway since the rest of the countries are below. :D
And no, I'm not an encyclopedia, I just happen to **** lived there!!!!

4.

What did you want to prove? That the Scandinavian countries have a bigger impact on bitcoin that the United States?
Are you serious???

5.

No offense, but when talking about simple English you can start using I , not i, that's one of the basics in English.  ;D

Vent your frustration about the United States somewhere else, but don't start with fake stuff about countries where some of us live and you have never set foot in.

I'm with stompix on this one, I do have to disagree with you and tell you that India isn't one of the most crypto friendly countries in the world. In fact they are a complete opposite on what you are stating right now. From the RBI imposing rules on their banks to block bank deposits from crypto exchanges to go as further on limiting what cryptocurrencies can be legally traded in their country I don't think they are that friendly at all.  The acts of their Indian police might be just part of extinguishing cryptocurrencies entirely in their country or might just be an accidental discovery on their part.

In any case, most countries of the world today are not friendly for the cryptocurrency market, and therefore it is not an exception.  Nevertheless, all the same policy on the cryptocurrency of the Indian government is very twofold.  Although among the population of India there are many people who use this technology with great pleasure.  I think bitcointalk is a real confirmation that Indians are interested in cryptocurrency, because on the form I meet these people very much.

Thanks for at least providing a link. Wouldn't be surprised that the Indian police was quick to make arrest, the government has been restricting crypto for some time.

Unfortunately the government can use this reported scam to support their narrative of crypto as a negative force.

Ah, I see you are a man of culture as well. A couple of months ago Maria Grapini, a romanian politician, member of the European Parliament, talked about another great country, Letitia. What do you know about their economy?

Maria Grapini wrote: "Some of the famous European deputies in Romania, Bulgaria, Hungary, Poland, Letitia, are discussing how to save international transport for the Eastern countries . "

I have taken back what i have said earlier simply because it was not what i meant initially as i was travelling when i wrote that and on reaching home i just checked back what i wrote and found my mistake and then i came to see your argument, fair on your part as that was my mistake initially.


I am sure you are not reading what i am writing and you still argue without any clue, can you pin point one word i say that other countries have bigger impact on bitcoin than United States.
To make things clear to you


I was making a comment on this part, big countries like Russia and US, i did not understand the real meaning of this, big country in total area, economics, GDP, what did he meant by this and i was making a vague comment on that part.


No offense taken and once again, I am not trying to prove in this forum that i am the best in content writing or having the best vocabulary or having the best language.

Again yet another of your conspiracy theory like you mentioned earlier about the fake death of Gerald William Cotten. How you came to the conclusion that i am venting my frustration about United States, earlier you said you are from Europe and now claiming that you are in the United States, are you trying to tell that you will spend time daily in different parts of Europe and return back to US when it is time to sleep  :P.

I am not an individual who has anything bad to say about United States and your idea of me having a personal frustration against a country which i travelled only as a tourist and had a great time and you think i am keyboard warrior like you trying to change the world  ::).

All you have to prove is that you are a smart ass trying to prove everyone wrong, there is life outside of keyboard too. :P

This is what the law inforcement should do, as cryptocurrency keeps on growing we can't deny the fact that the number of scammers also increases not just in india but also in other countries. India police really did a good job.

Why is so hard for you people to understand simple stuff!?!?!
Yes, I'm living in Europe, I was born here I traveled around most of it both on holidays and with work.

That still doesn't mean I can see somebody bringing my country into a topic and say, hey you know, x is better than the US! No, fuck nationalism, I'm not going to stand while fake numbers and fake information is posted.

You try to diminish what the US has done for crypto and its impact, try it by discussing it with facts about the US alone but don't post crap about other countries.  I don't know how things work in your country but if you're going to tell me and my friends we have faster trains than Japan, more nuclear missiles than Russia and sunnier beaches than the Bahamas we're not going to say yeah, you're right, we are going to call out your lie.

And I'm not trying to change the world, I don't give a damn about the world.
We're not at Miss Universe to claim bs dreams about world peace and care bears.


I'm sure you realized I was ironic about those...right? :) Actually picked the names from here (https://en.wikipedia.org/wiki/List_of_fictional_countries).

Still, how did she managed to spin Lithuania into Letitia?
It's not Iceland and Ireland!

Indians have experience with scammers because scamming is one of the most popular ways of making money in India. Ever heard of Indian IRS scammers or fake Microsoft support from India? If there's so many people doing it the police must have special task forces for that.

Not long ago they found that government officials were taking bribes in cryptocurrencies. If they don't do something about it the country will be an even greater shithole in a few years.

Do you think i am a stalker to know where the hell you live to know everything about you, you are just a user in the forum and it is not a small forum to know everything about everyone  ::). Good for you if you travel to many destinations.

So you are trying preach that US has the best life than these Scandinavian countries, less poor people than Scandinavian countries, medical insurance and other facilities than these Scandinavian countries  ::). One more clarity to you is that i never undervalued any country for their contributions, who am i to judge that  ::).

What the hell are you trying to claim here, Us has the biggest porn industry or a president that earlier participated in soap opera Tv shows  ::). That being said i really like Trump as he has proved himself to be a successful businessman and he is taking the country in the right direction yet there are many opposition in your own country, it is not the worlds fault, first sort your own problems :P . The euphoria you are in is a fantasy world and one more thing i need to clarify is that i never understood what miss universe or miss world is all about, a line up of beautiful ladies and then you come to a conclusion that one is more beautiful than the other ::).

yes, I once thought like your question, it was like a flashback two years ago, at that time I saw the small country Estonia, able to move the economy in the field of cryptocurrency. and it is capable, amazingly there the voting is passed through online voting. great

14 billion are you serious?Then that would a one of the biggest bitcoin scam in world.I'm not sure what will be the punishment they will gave for that.Bitconnect looted and stop services.Their ICO gathered 2.4 billion.Now they are looting

Your grammatical write up is not well arranged and as such it doesn't make complete sentence in some lines. Every nations has one form of ponzi scheme or the other, the government are elected to protect and the people against all forms of aggression, including harm to her citizens finance. They are trying to fulfill their constitutional obligation. People must learn to avoid trying to make quick money.

There are scammers in every aspect of society but i know first hand about the IRS scam as one of my close friend fell victim to their calls, the main advantage is that they have inner knowledge about his spending and other activities and they will bombard with other stuffs which happened years ago and it will create a doubt in your mind whether you have done those and your instinct will tell you to ask them about the solution and then they work their scam as my friend sent them bitcoin through an ATM machine and since he knew that i was in the bitcoin market for a long time he asked whether the government started accepting bitcoin which baffled me and then understood that he was scammed big time. Still not sure about the origin of the call but they used skype credits to make that call as far as i know.
Lesson learned here is that never to trust any calls claiming to be someone even with the exact number as the IRS. If any country is able to uncover these scammers it is well and good as they must rot in hell for scamming innocent people and their hard earned money.

Yup, this scam is the most known Indian scam. Even today I get several calls from those scammers using 301-830-6828. After I Googled up the number, I found that many people have reported the number as scam at https://www.whycall.me/301-830-6828.html since last year. India's law enforcement should do something harder to crack down all of those scammers!

Do you have to link to the article so we can read the whole information and see how they've done it, this is good news for India but on the other hand, there's also bad news coming from India, and that is they are drafting a law where holders and traders of Bitcoin will get 10 years if lawmakers pass this law.

Sorry, my bad, I didn't realize you're so dense you can't get sarcasm even if fully loaded 18 wheeler hits you.


What is your fixation with the US?
Did they deny you a visa? A green card application?


Yeah, and I think on top you're one and you've got some kind of weird fetish, you're making yourself the laughing stock of the topic by posting crap and then you come and try to top it up with another piece of novelty that has people here raising eyebrows.

How about you stop discussing me and go back on topic?
The topic is about what India has done to prevent scams, And it hasn't done shit, probably because they have enough shit in that country already.

3 of the biggest scams last years have been stopped by the SEC, what India has done was to release on bail after 30 days all the scammers and no money was ever found and released back to the victims.

Let's try not to compare a 3rd world country with anything beyond a third world country.

And about the whole bitconnect drama :


Wow, India is really fast at fighting scams..really fast and efficient!!!!!

To be honest, I think cryptocurrency scams should be watched carefully. Because the scammers behind the scams here in cryptocurrency are earning more than the people who organize scams that are just in fiat money. Especially when the prices skyrocket, the scammers will really get lucky and the people who invested a lot have no choice but to move on.

That was a good example of sarcasm  ::).

Just shows your level of maturity, when we are discussing in a forum you want to come up with personal attacks, I do not give a rats ass about US or India nor its politics or lack of it.

That shows that you are delusional, in respect to the contest you were talking i made that sarcasm and now you proved that you are an hypocrite.
Who are these people you are talking about having raised eyebrows, it looks like you know the pulse of every random member in the forum which is really weird  :o. 

Oh really and hence you are fighting hard here in this forum to make a third world country take some serious action against scammers while i have seen threads here and other outlets that they are planning to implement serious laws banning bitcoin and putting people behind bars for even holding bitcoin which is a really stupid law if they target the market like that.

on a personal note i am not sure about India's political situation and you being a key board warrior are not doing shit either to change the situation and the only thing you can do right now is to advice people not to invest in any shit coins or alt coins and just to invest in bitcoin and that through from reputed exchanges and not rely on a third person and all the scams will come to an end.

So much butthurt, so much personal attacks, so little value, no Satoshi...


A new wave of insults, you really felt those facepalms, are they still hurting, are you so desperate in winning an argument you lost the moment you opened your mouth?

Give it a rest, you have no clue what you're talking about, you don't know how to put an idea in words, you lack those basic English skills, you have absolutely no intention to learn, as shown by the multitude of "i", so...what do you want? What is the purpose of continuously attacking my person while having ZERO arguments and ZERO value and ZERO contribution to this topic?

Anyhow, I've wasted enough time on the usual 4 lines stake participant 1 merit a year shitposter.
Bye and welcome to the ignore list.

Most people have their price and can be paid off.  Very few government officials have integrity and will stand by what is right.  Even you don't accept the money the criminals may be willing to hurt your family members.

Let the community decide whose butt is hurt and started calling names.

If thinking like that makes you happy, who is stopping that.

Had no idea that you invented the English language to judge me. I gave a response earlier regarding that and i am not going to repeat that.


I does not matter which campaign i participate and that is not what defines me as a user as long as they are a reputed site i do not mind wearing that when i am active here. Your level of judgement is evident with your words, if you have anything to tell, do that rather than pointing what campaign i participate.

About the merits all of your merits came from
suchmoon       111
dbshck       31
TMAN       31
The Pharmacist   12   
LoyceV       19
frodocooper   10   
DdmrDdmr   13   
Foxpup       13
o_e_l_e_o   8   12
Jet Cash            12



remember that the site has 2608831 members and you earned 264 merits from just 10 users and you think you have accomplished everything in life and people who are struggling to get merits are mere shit posters  :-\, I was not an user who spent much time here earlier and it will reflect in my account, ignoring me is your choice and i never forced you to respond to my post but you voluntarily jumped in and now backing away citing i just earned 1 merit in the past one year .


I searched but did not find any links regarding any bust but there are many sites reporting about a new draft even putting people inside prison for holding bitcoin and that too ten years which is the most outrageous part, not sure about India and its contribution to the entire bitcoin ecosystem but these kind of stupid law making will drive the market underground.

What world are you living in, if you scam someone promising huge returns you will be caught eventually, when the people who got scammed go to the authorities they will get caught and majority of the cases i have come across are in that category, it does not mean that they are having their concerns about their citizens and the rest of the major countries are turning a blind eye to these scams, the reality is that majority of the huge scams originated from India or other developing countries.

@OP there is nothing to amaze in the situation, i am not sure which case you are talking about, if you could elaborate we would have some clarity.

Kudos to India police force. If other countries should be doing like this, I believe scam won't linger much in cryptocurrency. Scam is general disease which has destroyed and scattered business. This a collective effort not only for our military force or government to fight bbut for us to fight and fish out the scammers