Bitcoin Forum

Cryptocurrency industry is an industry like other industries that need caution from the players. It was yesterday, one of the members of a WhatsApp group i belong made series of comment, and in all his posts he said Bitcoin is a ponzi Schem, people doing btc are thieves.

Well, as a crypto expert (to an extent) i knew what has happened to him and i needed to educate him on what he should know about bitcon. I asked him what was his basis for this kind of derogatory comments, he said i should never mind, i later gathered that he gave his money to another person to invest in crypto and the person screwed him.

I tried to explain and educate him with the following;

1. How to invest in bitcoin.
2. the importance of trading or investing yourself.
3. why Holding and Timing are very important.
4. why it is scary to entrust your cash into someone.
5. Why knowledge is one of the most important tool you need in this industry.

He later admitted that he made a mistake.

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Tell them that Bitcoin is Digital Socialism.

That usually stops 'em in their tracks.

Digital socialism in what sense? do you mean the deocratisation of monetary people and disintermedation of banks through a P2P bitcon or crypto mechanism?

you need to explain what you mean by digital socialism.

I would have told him that he needs to learn first what is he getting into without investing on anything at all. I will direct him to this forum, make an account here and then read a few threads so he can educate himself. When my friends who don't know crypto tell me that they are going to give me money so that I will invest it in a coin I refuse I tell them learn the ropes and then you can trade yourself. Learn the things and you won't be blaming anybody but yourself.

Tell that to a socialist or leftist thinking and I think it will not stop them and they would rather continue researching what this is and possibly participate. So I really don't think by saying that would stop them from doing crypto but rather it will do the opposite. But if you are going to ask me, decentralization which is a feature of Bitcoin, would shy those who are diehard leftists since they are for the centralization of government - their government and in a socialist utopia, they don't want a currency that cannot be controlled for the benefit of the masses or the socialist government - again their government.

Pretty simple, to be honest. How can a mere asset, not an entity/business/organization, scam people? It's like saying that you can get scammed by a rock.

In real life though? If simple explanations like what I've said isn't enough to convince the person, then I really don't even bother. In the end, he/she's the one that's going to miss out on gains anyway, not me.

To put it using Satoshi's words: "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

Bitcoin isn't a scam. It is an advancement that has provided freedom to the people who are part of it. Using the name bitcoin more scams were promoted by different people across the world. It is the reason why most of the people have such a misunderstanding about bitcoin. Another thing just on hearing people believe it, and never intend to analyse what is the truth. If one gives a try, further he'll not say it a scam anymore.

There are thousands of people like this guy.People,who were scammed by crypto HYIP,cloud mining,investment scams,crypto exchanges,etc...All those people are frustrated and powerless,so the only thing they can do is to start trolling and shitting over Bitcoin and the crypto industry.
If this guy was scammed in a fiat money scheme,he wouldn't start yelling "US dollar is a ponzi scheme scam" everywhere on the internet.
Unfortunately,all victims of online scams have to learn their lessons the hard way.We don't have time to convince them or educate them.

Sorry But do i missed some Part? you Keep saying that He talks against Bitcoin all the time then How come that He gave Money to "Others" and Losses them?

If i were in your shoe? I would tell him nothing because He is Old enough to understand what He is doing , and learning from you ? i don't know what on the other side that He changes His Mind and decided to invest in Crypto ?

or he is just a Bitcoin hater but altcoin believer ? is this what you mean here ?

Well sometimes it just possible to convince anyone to invest in BTC. But still i think the quick way is to tell them its history and how its price has peaked, if that doesn't convince them then i don't think anything will.

He said that out of experience with a fellow human, in fact it looks like he is pouring out his anger on the mention of Bitcoin while in reality, he is to be blamed because he knows nothing about Bitcoin reason he was scammed and as well, it is very good you educated him on what he needs to know and I believe he will be curious to know more and will start making his own research in order not to fall for the same mistake again. Normally, when people close to you say bad things about Bitcoin and you are opportune to ask them questions, the first question to ask them is, why they say those things, that will form a good ground to educate him. Another truth is that, many scammers have now created a lot of Ponzi schemes using Bitcoin and so on, in order to accommodate a lot of people, and people who participate in such will always think they are investing the right way not knowing they are getting scammed. So first thing to educate these type of victims is that, Bitcoin is not a Ponzi of any kind, you can buy with spare money, hold it or trade it if you want so far you know how to do so, and from their questions you can go deeper into educating them.

I think we can't expectation with bitcoin always trusted site or investment way because many people ever make loss from many people and now I think why they wanna said bitcoin is scam, but its not true when you loss and wrong position when entry to buy bitcoin and have lower price now you will claim bitcoin is scam, but you make mistake with your way why you buy bitcoin on higher price, always make wrong way when have to buy and sell bitcoin , maybe you need moment and time when have to invest or buy bitcoin because this look most important when analyze first if buy bitcoin or altcoin.

Good to see that Your "friend" end up with KARMA after all those bad words he throws to Bitcoin and  Hope He'll end up losing again more and more .

https://i.imgur.com/QXtAdfv.png

And when time comes ? you don't have to say a word, let Him suffer for all His stupidity and also Let Him approach you for what he wanted to have in crypto .

Because people like Him don't deserve to be Lured, instead realization is what he needs to learn.

Those people are deluded to what kind of environment they are living and too bad they don't have an opportunity to invest when the price was so low these past 2 years. That's what happens if you don't make your own research regarding something unknown to you. when you only judge something in one opinion, you are lost and the result is a tremendous loss just like those who ignore the signal of investing in BTC last 2018-19.

I'm a short-tempered person, so probably I would not bother explaining the right thing to him, I would just agree and let Bitcoin to slap him the truth that it was not created to scam people, but to help people in many ways. Even when Bitcoin was not yet created, people are already scamming people, so it is us who needs to be blame, because we use everything we can just to scam people, shame on scammers out there.

The result is always a solid explanation to those people who doubts Bitcoin, because explaining it to them while they are narrow-minded is just a waste of time.

Punch in their faces  ;D ;D ;D Joking

you did good try to educate him, hoax news is everywhere nowadays so tell him to check resource before tell everyone else

Who backs the idea of "Bitcoin is a scam", does not know how does the whole system works and they have a bias in cryptocurrencies. The high value of Bitcoin makes others jealous. Also, in the trading context, in the regular financial market, it is hard to profit in a short time, but bullish Bitcoin is loved by many crypto traders. If it was a scam then governments should not be worried about how big it is getting they would immediately ban the whole cryptocurrency market. The scientific background of cryptocurrencies keeps the mouths shut of suspicious people close. So, LONG LIVE BITCOIN!

Ha ha ha. Don't do that, Bitcoin is apolitical. Plus the people in the forum are very forgiving about comments/posts like yours. In other places, some people would call that post, it starts with the letter "R", ends with a letter "D".

There's no doubt about it. Until now their are so many people who are not interested and still saying that bitcoin is a scam and it is because of the reason that many scammers using bitcoin and cryptocurrency as a front on the ponzi scheme that they are doing. What we need to do is to educate them and teach them what they need to do and also how bitcoin works. And another thing if people are buying bitcoin always check if it is legit or not to avoid scams.

Usually these people saying bitcoin is a scam or ponzi scheme are likely had a bad experience investing then ending up losing their money. Its not unusual, I even encountered similar scenario like yours but the difference is he didnt gave his money to someone to do the work on his behalf, instead he is the one doing it. The problem is he didnt conduct a research and just blindy invest at peaked price then the value suddenly had a correction. He cant bear seeing his money slowly decreasing in price so he immediately sell at loss. Then he made a rant on facebook saying negative words to bitcoin and crypto in general.

I simply ignored him and let him do what he wants, his not listening anyway and just looking for someone to blame for his own action.

I don't know if I would answer him kindly if he seems to be deaf to reason and would insist on his position and stupid belief. I might just rebut him with a couple of statements and leave the conversation.

Or I might just tell him that investing in Bitcoin via any person is generally bad. And if he is really strongly convinced that Bitcoin is a ponzi scheme then I would challenge him to get to know Bitcoin more.

If you raise at least a couple of questions to him about the basic features of Bitcoin and he cannot answer then just tell him that he has yet to get to know Bitcoin and therefore should just shut up rather than throw ignorant accusations.

That's what the usual background of anyone who says bitcoin is a scam or ponzi! You will inevitably find an involvement of scammer in the story who took chance of someone's unawareness. That's everywhere and that's the buggest challenge in the crypto industry right now! The frequency of such scammers have increased after the recent price rise and more and more people are lossing money every single day!

It's good that you took out time to make that person aware of the situation. Educating others is the only way to minimize such scam!

I will never try to ask someone to join in bitcoin investment. I only talk or start a conversation when I do seeing some activities of him posted like in facebook about crypto activities. I will then ask if they are able to know about the forum and if they aren't I will try to introduce him the forum. But then, I will let them explore the forum and told them to ask for my help when they need it. So far, they are doing good now at the moment.

It has been a common misconception as people are clueless about bitcoins’ functionality. Thus, If I were in that position, I will point simple facts and relevant information. If it is not enough, then I will suggest conducting further research. Regardless, that person needs to visualize his unfounded claims. It is clear that he has not fully overcome his unpleasant experience with his investment, which eventually changed his impression of bitcoin.

Many people don't understand what bitcoin is all about, only few understand bitcoin. so don't blame anybody that said bitcoin is a scam because they are saying it out of ignorant.

I'll ask him how, i'll let him explain to me why bitcoin is a ponzi scheme while there are a lot of investors investing on it.

I'll also ask for a proof or screenshot then enlighten him about that, that there are really people who are using bitcoin in a different bad transactions or crime.

Bitcoin can bring a lot of advantages into our lives especially if we are making a lot of profits with it. But if you are knowledgeable about it and how to avoid those scams, ponzi schemes, or etc., you will really have a safe and comfortable bitcoin investment when you engage on it.

What I mean is that he put his fiat money in a bitcoin investment that later turn out to be a scam.
He came, he starting writing that btc is a scam and so and so forth.

I had to address his ignorance and mistakes

Not always people are ready to understand things in deep. One of my relatives still do not want to accept that Bitcoin is like an asset should be declared in our country and still is sure that it is one of the ponzi schemes. And I left my attempts to make him change his ooinion. I think it depends on the person. It is better to explain to those who is ready to understand and believe.

The detailed explanation is very good, very lucky that your friend is willing to receive your education.

I have experienced that too, even one of my brothers argued that BTC was manipulated and controlled by the rich only. Well, I also explain as best I can, there is indeed a lot of bad speculation regarding BTC, but as long as we are able to take advantage of the opportunities that exist, understand the risks and carry out this carefully then it can provide benefits. Unfortunately, my brother still can't accept that, and I just smile and don't push, everyone has their own point of view. Although I have also shown the profit I have earned, he remains in his position.

But talking about a thing that we dont know anything about it is a bad behaviour and i believe this persone just want to convince himself that bitcoin is a bad thing that we must not believe in...maybe because he want to enter the crypto world but he is afraid

For sure those kind of mentality that person have towards Bitcoin have been built by his bad experience getting into Bitcoin and experiencing lots of challenges and the risks associated wherein he have been taken advantage by those scammers and as a newbie himself, he have been frustrated on how his journey towards Bitcoin have gone without even taken a chance to better know what the reality Bitcoin is beyond those scams he have encountered from other people. If I will be on that situation I will also do the same thing educating him of what he must know about Bitcoin so that his mentality towards Bitcoin will somehow be manageable to be changed and let him understand the real deal that Bitcoin is not a scam and he is not supposedly telling such without even knowing anything about it.

those who said that bitcoin is a sort of scam is actually blind to reality and the majority is to stay alive in the old way of life,  about my experience many times people make fun of this project that includes they are drag you down, but eventually, when they saw me growing up in life and gradually built a business, actually, they also asked the truth about Bitcoin and finally, much energetic demand and they appreciated my goal and that time, I explained with what is the value of digital payments in human life and so far they have been also liking to become one in this modern technology.

I have met very many people who say that Bitcoin is a scam, what I do is of course educate them in a good way. But still there are some people
who really hate Bitcoin, so they reject the truth of Bitcoin. Maybe such a person has a big disappointment with Bitcoin, I think people who hate
Bitcoin are mostly people who lose money when investing in Bitcoin. So the conclusion is that we can't force everyone to like Bitcoin, there will
definitely be people who hate Bitcoin.

I will tell him that all market operates almost the same way as the Ponzi Scheme (Bitcoin included) that is why many people misunderstood the Bitcoin market as Ponzi scam. 


The Bitcoin market operates almost the same way as what is quoted except that Bitcoin doesn't involve any centralized company to manipulate people into investing which nullifies the investment scam scheme.  It is a mere supply and demand that dictates the price and attract new investors.  But it does reward early backers due to the increase of value over time, the same goes with stocks and other assets.

About 2 days ago, I met a young lady, while we were conversing I mentioned Bitcoin, and she said "I thought that thing was a scam", LOL, I chuckled and told her that Bitcoin is not a scam but a currency. I gave her example of being scammed in the local currency, if she'll call the currency a scam, then she understood the point. Some Most of these people say this because of what they have experienced (BTC and altcoin scams), so, you really can't blame them.

Indeed, there are lots of scam companies that take advantage of Bitcoin's decentralized nature, exploiting it and making it as an excuse for them not to file a company registration.  I have met someone who is involved in a cryptocurrency scam company, recruiting me into joining them.  When I asked for the company registration, he just answered me that Bitcoin is decentralized so they don't need to apply for the SEC registration.  If I don't know a little about Bitcoin, I would have joined them since they are good at talking.  Lucky, I was well informed in this forum about scams and illegal schemes that are lurking in the cryptocurrency industry.

Agreed.

Bitcoin is the freedom for each person to use it as they see fit, making their own choices and their own decisions.  Bitcoin allows people to protect themselves from the looting socialists, fascists, communists or any other authoritarian collectivist.

Show him what you have now from Bitcoin. Show how Bitcoin can really help your life better than previously. SHow that Bitcoin has offered much for your life. ANd show him that you make more and more profits from Bitcoin.

WIth all prooves, he may be able to see how Bitcoin and how worth it. He will understand why people are getting richer with Bitcoin and why Btc will really give profits for you.
That is why you show the ways, the right ways that he does not know. It is important to tell that he must learn first about Bitcoin, not only following the certain Ponzi scheme that will make him lost his funds. Additionally, tell him also the risks that he will get in Bitcoin in order to tell the truth about profits and risks of BTC.

He might have faced or experienced bad things in Bitcoin, lost his funds in BTC, or others. That is why you should also tell about the ways to not losing his fund easily.

If you will not educate yourself and just based your understanding from hearsay, you will indeed conclude that bitcoin is a scam.
When you encounter persons with this perspective, one way is to give them the basics of bitcoin.
Though it will take some time, you can just tell them to search bitcoin or crypto from the net, maybe start from wiki.
An overview of bitcoin, will give them an idea that it is not a scam, but the people using it to screw others make it a scam in their eyes.
But the technology itself is not. And since scammers are everywhere, we can't avoid this to happen especially in bitcoin, as they can screw others anonymously.

He got scam himself after seeing the Bitcoin price move higher.
Yeah, it is really hard to convince people especially when they are close-minded individuals. And that even they are listening to you but then, we can't assure that they got the point what we say. They only appreciate this thing if they saw with their eyes that you are making good in this and that they saw that you are also improving yourself, otherwise, it is just a waste of time.

I don't bother with people like that. Anyone who thinks everything that they say is pure fact and that they are always right is a moron. It amuses me when people seem to think they know so much more than other people when while they don't even know what they are saying. Most likely this fool was scammed for his bitcoin and instead of taking responsibility he blames bitcoin.

Exactly and tend to agree with that part I bolded above, people don't believe unless they saw how successful you are.  For me, I won't waste my time if they don't believe me on the first attempt of explanation, that's enough.  I won't waste my time, at least they are already aware of what Bitcoin is and how successful you are on this upon your investment.  Believed me, someday they will reach you back and will ask again when they heard Bitcoin becomes viral again due to the price increase.

I don't understand why these people enter into Crypto market when they saw the price was in heavy growth.  Where they are during the bearish trend and should the time to accumulate more in Bitcoin.

What surprise me is him saying that the crypto business is based on pyramid scheme or ponzi scheme model, that infuriated me. He spoke with enormous ignorance. Ponzi scheme or pyramid scheme are business tactics that can be applied to any business, the common negative feature is that they are not sustainable.

so we have ponzi scheme in agribusiness, health business, NGOs, finance etc. The basic thing is to know such business models when presented an offer, so you could avoid the pitfall that will inevitably happen.

---

This is very true, the very guy later asked me that if i claim to be an expert in crypto, i should tell him if i make money from it?
i sincerely told him that with my knowledge, i make money from two sources. 1. from creating a crypto portfolio , which i started with a little capital but would grow and 2. from doing signature campaign works.

He was skeptical of the informaton i was sharing until i explain that i make money with this too.

[moderator's note: consecutive posts merged]

Me too, these kind of people of who do not own up to their mistakes and not admit that is their fault is a hopeless cause, imagine getting screwed by someone and you blame the medium you used for the transaction instead of yourself and the scammer, that is the weakest mindset that I can think of, having the ability to be ignorant about your mistakes is something that is done through self discovery.

In the community where I work, there are often rights issues. There are some things that make me very helpless. People trade on the trading platform, and the platform is hacked for no reason, resulting in the loss of money and the sharp drop of currency price. Are there any mysteries behind these stories?

Many people have not much idea about cryptocurrency.That's why they are always say like that and they are always use fiat currency.but, we khow cryptocurrency is how much important for us.

You should've told him, how can a man like Satoshi who's existence was vanished before Bitcoin took off scammed that person lol. Nevertheless, what you have mentioned as a way to educate him was correct.
But, I hate to see people who puts the blame on things they doesn't even lay a single effort to study and research about a certain investment. This always happened in my place, not only with Bitcoin, but with other investment platforms too.

I had a similar convo with a guy who reached me out because he invested in a scam binary traders group with some fake account managers. He told me that he only gave money directly to the fraudulent account manager, but not revealing which platform did the manager “trade” his money and it says that he’s guaranteed to have 300% return in a matter of days.

Because he was scammed, he assumed that everything about Bitcoin is a scam and told me that what I am doing is a scam. So I just told him simply that Bitcoin is a currency like fiat which can be used in both good and bad ways. Before Bitcoin was born, scams like this already exists.

I also shared to him about the central bank legalizing Bitcoin and other cryptocurrencies for trading and mode of payment, and also a government-owned bank who has its very first crypto ATM launched, and lots of VCEs being approved, etc. It’s where he finally realized and willing to learn the positive use cases of it.

So I just gave him an advice to educate himself first by researching on Google, Youtube and here on Bitcointalk.

knowledge is not enough - you need to be able to manage this knowledge.

If I were you, I would explain what bitcoin is and how it works. I'll even show you how it works so that he understands that bitcoin is not a ponzi scheme.

Another great thing about situations like this is the opportunity to tell that person on why does he think that Bitcoin is a ponzi scheme. You could ask if the aspects of the ponzi scheme is the same with Bitcoin and how did he determine it to be that way? We should really be calm in situations like this because its another opportunity to gain a possible investor and student that can learn about Cryptocurrencies.

Actually, this happens to anything that is making a "sound" in the market (most of the times). There will always be people who will take advantage of others. We'll, nowadays, its name is being related to such instances as fraud because it is gaining popularity on the eyes of the masses making anything interesting when related to this technology. Impressions into it will then be formed either good or bad. In this industry ofcourse people will argue that this technology is beneficial to the investors and its users simply because they are aware of the advantages. But to those who are not, negative image will more likely to prevail and it will be hard to make that much of a change to them.

Yup, bitcoin was scam, during the pre 2009, internet itself was scam too, but thing could change, still today I wouldn’t trust internet, especially absurd demand KYC from some internet exchange or internet websites, is bitcoin less scammy than internet itself? Who know? Still I do not trust internet.

I would've said the same thing, as a crypto enthusiast myself I would've said the same thing and honestly it really is hard convincing someone to believe in something that they've haven't gotten yet or have seen with their own eyes, so if that's the case, the best way is to show them, and that is if they are interested to learn, I've had some people who weren't willing to listen and just bores them out, if that's the scenario, just stop it and let them later on realize how much they were missing out, it is what it is.

Either of these two I would do, depending on my mood at the time of the conversation —
1. Ignore him (if I'm in a foul mood)
2. Tell him to google Bitcoin (if I'm in a good mood).

Listen buddy, Bitcoin has gone past the era of trying to convince individuals (a shrimp) to buy in. Possibly, all they will buy won't even be up to a single Bitcoin. Institutions have already picked that idea of Bitcoin up and are buying big time. That's what matters. Let doubters continue in their tracks. After all, I am yet to hear stories of those who later got convinced and bought Bitcoin sharing their profits with those who convinced them to buy. I stopped wasting time with doubters in the past.

Pretty brutal statement but I have to agree with you, with the current social morals and situation, I think a brutal approach towards ignorance is a good thing because they never learn when a "slap on the wrist" punishment is the only way for them. The most ignorant are the easiest to be lured when it comes to scams just saying.

I will only smile at him, and I will say that it is your decision. I will only talk about a new way to make money, but it is not about making fast money instantly because it will need time, and we need the patience to see our investment will grow. But if you say that bitcoin is a Ponzi scheme, I will not force you to follow and join me.

I already told that to many people I invite to join me in the crypto investment, but some refuse to join and say like that. That is what they want, and we can only let them wait and see.

if im in your shoe i will use the numbers 2 and 4 , that is investing himself and never trust the others . why will he blame that bitcoin is a ponzi scheme when btc isnt the one that scammed him but its the person that he entrust his money .

 calling him a thief is enough but he shouldnt generalize all that who use btc and those who run an investing business are a theif  .

wow i think im the one who got flattered and shy when you say this hehe just kidding . i didnt knew that you are expert , i didnt feel it in your aura but you have a talent at predicting too because you know what happened to the guy  . awesome

Most of the time I would just let them think what they want but sometimes I would also defend it.
It is just tiring to defend it to almost everyone who would tell you that it is a scam.
Back in 2018 when I lost most of my money due to investing in BTC peak price in 2017 I would always hear that it is a scam so I would just ignore them.

You taught him everything, but you forgot to teach him about security :/. That's the first thing he should know before starting to invest or use crypto currencies. And that was stupid of him to "send someone coins" to trade on behalf of him. It's like begging them to scam you. I am sure he was scammed a lot of time even when using fiat currency. Ask him if he thinks fiat currency is shit.
Good thing he realized his mistake and admitted that he was wrong over here. There are people out there who would be stubborn and arrogant after getting scammed. They would keep on blaming crypto currencies.

People wouldn't really care at first when it comes to security because they don't expect that such thing could happen until they do experience and realize it but its too late.
Blaming out crypto isn't something new because they would really be having that common words in mouth and finding out something to get blamed on the unfortunate happen
or events that they've able to experience.Learning would always comes after realizing on the mistake you had able to experience but it isn't really necessary for you to commit
if you do had just known or able to avoid it on the earliest time as possible.

You achieved your goal OP and made him change his mind so it's all good. You did all you could and you did it well enough to make him admit to his mistake. Good job.

What I'd do is simply tell him to do some research and not wast my time on him. I know that's lazy but I had so many random encounters with people who had their opinions about Bitcoin without knowing anything about it that I no longer argue with them. I'm not going to help them make money. If they don't want to do it it's their choice and it's going to be their regret.

Actually I don't really like arguing with other people, let alone arguing with people who don't have an open mind, just a waste of my time.
But if it turns out that the person can think openly and are willing to accept other people's opinions, I'll do what the opening post did.
By educating people who think negatively about Bitcoin, because in fact those who think badly of Bitcoin do not fully understand Bitcoin.

I've been in that position, my friends don't believe and say bitcoin is like gambling. but I am convinced by providing examples of evidence that bitcoin is a payment transaction tool, such as the use of bitcoin abroad via web pages. my friend believes in it.
so I think it's realistic to explain with evidence

To be honest, I have been helping some of my friends and relatives to invest in bitcoin because they wanted to earn a good profit. But they don't believe me because they assume it is a kind of a Ponzi scheme, and they want to have assurance whenever bitcoin is dead; that is why I am having a hard time explaining to them that it is not possible to happen. So I instead stop convincing them because it will be useless if I keep inviting them and they don't believe me. I recently got a DM from one of my friends that I helped with about buying bitcoin, and he says that I am totally right and should bitcoin at that time.

providing information to those who do not understand it is very much determined by the person's condition, if he / she understands the use of computers and internet networks it will be easier than those who do not know and know it. because it can be done at the same time with practice it will be easier to explain and of course what experience we get in real terms.


true, giving information to those who still don't understand is sometimes frustrating, so it takes extra patience for what we are going to inform you can be absorbed properly and the absorption of any information to everyone will always be different so you have to be patient.

Don't stop yourself from curiousity, let yourself explore the cryptocurrency world and feel it.

Some people are talking shit towards bitcoin because they don't really know how it works and how it is beneficial to sustain our financial needs.

Making bad reputations, false accusations, and destroying the image of bitcoin through misinformation is really not a good idea and will not help you achieve your dreams. Bitcoin can somehow make you successful once manipulated and managed properly in the market. Try before you conclude and don't you ever say something bad about a certain thing that you don't understand.

None. I will not do anything and I will not say anything to him.

You said in your post that he already invested into crypto with the help of other people. Probably that the person you are referring with is just trolling and possibly doing what the rich man and institutions are doing (spreading FUD's in order for the price to go down then they will enter at a lower price).

Anybody can say anything to Bitcoin and TBH we are not obliged to invest into it. They can spread FUD's into it but I would say good luck to them especially this time that many already know and investing into it already.

I would not mind what is his perception in bitcoin. For a closed minded person, you are just wasting your time explaining.
I , myself is in doubt at first, but because I am interested to learn, I read and read articles about cryptocurrency. I'd rather be silent and keep in myself that bitcoin is real and the profit I am earning is a secret to keep because not everyone will be happy for you.

Reading your comment made me smile, as you are doubting my expertise already in this field (lol). But, who exactly is an expert? An expert is one who has a knowledge above another, that he can teach the other party with less knowledge how a particular thing work. I felt that was the position i was to the victim that day the incidence happened. So, we are expert in degrees, while some are in degree 1, others are in degree 10. What degree are you?

If someone would tell me that it is a scam, I would ask him why does he think that it is a scam. We never what happened to them so I want to also put myself in his shoes. After that, I would explain how is that idea flawed or how is that idea not true that in general, bitcoin and other altcoins in this market is not a scam.

I've done that too many times with my family, friends and relatives because their mindset is poisoned by hoax on social media and scams on the news. They did not experience something like that of the guy you've teach a lesson about Bitcoin which was being scammed but did say something negative on Bitcoin which is pretty obvious they are just afraid of me getting scammed. The only way I did to stop their doubts and ignorance is showed them my revenue way back 2017 and they're speechless.

Well done! I believe that more and more boomers need to be introduced to new trends and technologies. Then they'll finally understand that the world doesn't stand still, and new things appear every day. We must convey to them that if this is new, it doesn't mean that they should be afraid of it.

Well, there is no new for that thing, people who don't have enough knowledge about cryptocurrency tends to keep on saying that it is a scam because they only believe that the only thing that they may gain money is from real life or in physical just like cash but for sure if they will learn this cryptocurrency then they may stop saying bad things in cryptocurrency.

bitcoin is not made to deceive people but bitcoin is made to help us, before you say bitcoin is a fraud you should first learn from people who have been successful with bitcoin, if they say bitcoin is a fraud they actually forget that now they are in the world In digital, they still think they are still living in the fiat world ...

You did well dear friend, you know most people outside the world of crypto sees bitcoin as scam due to ignorance and also what there might have  heard or passed through investing into the hands of scammers, there really need lectures on how bitcoin works and things there could achieve from trading by themselves or just hodling, if I were in your shoes I would actually do same thing you did. In some part of the world where technology hasn't taken over there easily get scammed by scammers because there got zero knowledge about cryptocurrencies, so it's wise to always educate people who discriminate bitcoin.

For those who had been already taught and you do able to make some good explanation but still ending up on being negative then let them be because they are the ones who are doing
things which would make them miss out the opportunities that they could possibly able to earn when dealing with Bitcoin.I cant really blame them though because in all the frauds
that we do had in the market then majority will really be a bit paranoid when it comes to a new thing that becomes the new trend where hesitance and boggling in mind and emotion
would really be in next in line.They would really be initially having bad impressions but actually these can be still resolved out depending on how someone would make out some explanation.

I wouldn't waste my energy telling people what bitcoin is or isn't. Not that what you did was bad because it is actually good. I just don't like getting into fights especially over the internet when there are more things that can be done with the time wasted arguing with people. You may call me selfish but at the end of the day, you can't entrust your inner growth to other people, it is solely based off of you.

it's counter-productive to explain to them why it's not a scam. since they are the ones who have identified the issue, they should be able to explain why they think it's a scam. as they explain why it's a scam, you'll quickly realize that a) they don't understand bitcoin and b) it's far easier to correct them on the points they raise

He shouldn’t trust nobody first and then he can buy and hodl like a real investor. Sometimes its people impression and lack of education is holding them back not to invest in BTC but if are they willing to learn about it they might realise the potential and benefit of the asset.

That's the importance of learning before investing. When I started, just like him, I do not have any idea about what my friends told me. Yet I believed and done my research. Never give your money to someone else that tells you a higher return on investment. Because Bitcoin and crypto are like stocks, you have control of your money and where you want to put it.

We do have our own views on particular things but there are external factors which can mainly affect our decisions ahead this is why if you are really serious on making investment to make profits

then you should set yourself to be open minded not just on having one impression then you wont tend to engage just because you do believe so without verifying everything in relates to a particular thing.

Its neither you would just be stopping yourself on engaging some opportunity or chances to make money just because of wrong belief and presumption.

Normally sometimes I like to give suggestions or tips based on my experience to members in this forum, but I rarely influence other people to invest in cryptocurrency. A few years ago when I first know about bitcoin, I told to my friends who work in the same company with me about bitcoin and they said that it's not money, not worthy, waste of time and other bad things about it then I left them and did not talk about bitcoin anymore. Now I am rich because of bitcoin, some of my friends asked me "what is your side job?", It is their false because they did not trust bitcoin and blockchain technology. If there is someone who invested in cryptocurrency but suffer financial loss then I will suggest he or she to become long term bitcoin holder because it is safer.

this is what we have to start to apply and get used to. times continue to develop, technology is increasingly advanced. just like evolution, there is natural selection, if we can't adapt to change then we can't exist.
by reading a lot, updating information, socializing, we will find a lot of new knowledge. make it a habit to be open-minded, be an empty glass that is always ready to learn, combined with knowledge to filter information then it will be a good provision.

From my experienced when I explained bitcoin to my friends and relatives way back in 2016, it is really hard to educate them if they are not that open-minded yet and still living with the old mindset that fiat is the only type of currency. They don't realize yet that we are becoming a digital world where almost everything is done with the use of computers. Many businesses are slowly adapting to a cashless form of payment and big institutions also are starting to adopt blockchain technology. Now that bitcoin is becoming a trend now and popular company like Tesla bought some of it, those friends before that I told them that bitcoin is not a scam are now asking where to buy it safely and also want me to guide how to trade because they found out that I earn from it.

That is what he possibly feels right now.
And If I'm also in your case, I wouldn't bothered myself and waste my time telling to someone who never wants to listen. If they will soon to get back to me and ask again, maybe I'd change my mind.

Many people just never know about Ponzi and so their limited knowledge about Bitcoin will brought them thinking also about as the same to Ponzi scheme. If they could just spend time learning both of them (Ponzi and Bitcoin), they'll be likely to change their mind.

You can't blame him for telling such kind of strong statement against bitcoin, if I were to tell I would tell him that its not too late yet to change his mind not because scam before does not mean its ponzi or scam, maybe he's just have a wrong move, or wrong person to trust with.  But given a chance Im sure he will recover if he will try again.

Firstly i think this person have no knowledge about what is bitcoin. But he knows or hear about that bitcoin is the most potential coin. For this reason he give his money to other for investing. But this person was a cheater. He get all the money. For this reason that person tell that bitcoin is a scam.
I will advise him to do research on bitcoin. And show him the Price chart of Bitcoin. Also told him that there is no chance to loss all the money. And finally told him that never trust any offer where they tell to give you 2x or 3x profit.

intellectual laziness can cause something of this to happen as a result of any investor not doing the right thing required of him. i usually tell people who ask me about bitcoin and other cryptocurrencies that they should make research and take charge of their investment, i can only guide through if there is any difficulty, i dont invest for people. anything that will give more profit is worth giving time to study and understand. i wonder why people will want to make money and not want to learn how it works, this is reason why there are so many scams of different forms.

I would probably do the same thing you've done. It's not like I personally hold grudge against them, it's just people like them are ignorant of facts and real-time knowledge about BTC.So what they do need right now is enlightenment from people who're very well knowledgeable on BTC as a whole.

If I were you I would ignore him. Because talking to closed minded people is very tiring and you would not get anything. Unless he is a closed relative or friend, I won't bother to explain.

Most of the comments about Bitcoin being a Ponzi scheme can be shot down with a few questions, namely :

1. What fixed percentage does the "Bitcoin" Ponzi scheme promise? (Answer : None, because it is based on Supply & Demand)
2. What referral bonus are offered to new people buying bitcoins? (Answer : None, because you buy bitcoins without incentives)
3. What "network" of commission are paid to affiliates? (Answer : None : There are no affiliate network)

These are the types of things that you get with almost all Ponzi schemes.... and you do not get it with Bitcoin.  ;)

Digital socialism?  It is exactly the opposite.  

Bitcoin provides insurance against socialism.  Socialism means you don't own your life or the products of your life, an evil and immoral philosophy if there ever was one.  Remember the goal of socialism is communism, and any form of authoritarianism (fascism, socialism, communism etc) wants to own you and your life with you having no recourse to someone else enslaving you for their "need".

A socialist or any other authoritarian government (or any government for that matter) controlling a fiat currency is a disaster waiting to happen.  Ditto for currency and capital controls.  It is a recipe for inflation, confiscation (stealing), etc.  Look at Cyprus, Venezuela, Germany in the 1930s etc.

I would just tell them that Bitcoin is a crypto currency and nobody could guarantee that they would earn if they invest or buy it,
Just like holding other currency or trading forex it is the same in crypto but the only difference is Bitcoin is decentralized.
So if there would other person who would guarantee them a profit by investing there is a huge possibility that it is a scam.

It is nolonger news, and if you observe very closely most people who usually call btc a scam is either a victim of one scam encounter or another, they mostly jump into conclussion and generalise about the whole crypto space, it was good you took your time to explain it to him, unfortunately those who are out to take their money are the majority and are the kind of people they often encounter. It is like an obligation for most of us to try and put this type of people through whenever the opportunity arises.

That is like him saying that the Dollar, Euro, or Yen are scams because there are scammers using them.  It is about as ignorant as the people who are saying bitcoin is only useful for criminals when fiat currencies are used much more.

Bitcoin is not scam.Bitcoin, often described as a cryptocurrency, a virtual currency or digital currency. Bitcoin is a currency created in 2009 that uses many ways.So far bitcoin has not been scammed. I think people want only money but they don’t know what is bitcoin.So you need to more experience in cryptocurrency. Then you can invest many site and make good profit.

Same boat there.
I explained to my colleagues as well and they just take it as a "criminal coin" or a "scam" coin just because something that is not known and not hyped by a lot of people.
Some people these days are brought by hypes only.

This scamming thing can happen to anybody and this can derail the person from the track. He is one of those who fall into bad hands but we have people who invest for you and it turned out to be a success, I am a typical example not knowing anything and trusting one person in leading me just that there are always two sides to a coin. The points you gave are valid and suitable for the case.

bitcoin scam ????
I don't really understand about bitcoin yet, but in my opinion
if it is true bitcoin fraud, it will not be possible for investors to trust and flock to invest in digital currency.

I don't like to argue with people who says Bitcoin is a scam. Why should I change their minds. Time will show who is right.

Bitcoin is inevitably not a scam. It is an outstanding and huge platform. It has provided people the opportunity to do something welfare. Now if anyone enjoys the advantages and does bad things, then the responsibility is on him alone. Bitcoin is not to criticize here. So Bitcoin is not a scam. The person pertained to in the scam is the only culprit.

We can't make our own judgment without knowing something. It's wrong.

People who don't know bitcoin may think it's a Ponzi scheme. In his view, bitcoin is virtual, unrealistic and unusable.

In the United States, Japan, Germany and other countries, bitcoin payment has become a part of life.

How patient you are. If I were on that position, if I were the one who have witness that thing, I will just choose to shut my mouth and just watch everything he is saying. I'd rather spent my time doing something else than explaining. It is not about being selfish but for me, their eyes, heart and mind are already close to realize that they are wrong so they are hard to please.

It is not easy sometimes to convince people as there are two kinds of people. Those who are in fact listening to your arguments and may or may not like them. And those who won't listen to your arguments anyway. For them it is scam and period. Not the smartest words will help to make them at last listen to you.

this is the reason why they say scam because they don't know and understand about the bitcoin system and in fact they are just looking for a way to drop bitcoin with some wrong arguments on bitcoin, and a small part of them are people who enter the world of cryptocurrency / bitcoin online blindly so that a lot of money is lost because of his stupidity and make the excuse is bitcoin a Ponzi scheme but..!!! as much as they can corner bitcoin, then bitcoin will grow and develop towards more than that

Well done.  People like this need to be educated.

Most of the opinions revolve around that people need to be educated to know if bitcoin is a ponzi scheme or not.

Today more than ever any individual needs to educate themselves and really know what bitcoin is because they are losing the great opportunity of their lives.

Bitcoin opened the path without borders for individuals to achieve freedom by being able to receive and send money without distinction.

I share the same opinion that those who say that bitcoin is a ponzi scheme were scammed.

I think you acted correctly. Like you, first of all I would ask the person what are his arguments to say bitcoin is a ponzi. Depending the answer I would have to reply accordingly the presented situation, what wouldn't be an issue anyway, since bitcoin itself has nothing to do with ponzi schemes. People who make such claims don't know what they are talking about, or they just want to badmouth bitcoin for some shady reason.
If the person isn't educated about bitcoin yet I try to explain and make them understand it, however, if I see the person is talking maliciously I don't waste any time arguing and just move ahead.

You are right with what you are saying and I would also like to add that some of them may be just jealous because they somehow feel they missed the boat because they were too late and can't participate anymore in the revolution. They are just upset and turn it into anger.

I am probably just wasting time trying to explain to them plus I have a hard time explaining I am not good at explanations, I will probably just buy them some satoshi and have themselves manage it. The best thing to convert a hater is for them to actually experience it.

if I were you then I would leave that person, there's no point in wasting my energy on him/her...

I also have a friend who until now doesn't believe in Bitcoin, even when the world is telling about it. basically, they will only believe what they think.