Bitcoin Forum

I watch a popular breakfast show every morning and they always have a section where they talk about money matters. Yesterday, they talked about Crypto currencies and the guest mentioned several Ponzi schemes where Bitcoin was used as a payment option.

These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.

Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.

Props to you for putting up with the bullshit, but I'm personally done with trying to fight these types of cases. Some people simply just don't want their minds changed. I'll just allocate my investments in a way that I can be personally comfortable even if bitcoin doesn't pump in 5 years.

So you watch it on the television where all of the contents are controlled and need permissions from the government, since Bitcoin is a currency where they can't control it, that's why they're give a misleading contents to many people. I think they're completely know what is Bitcoin and can find a difference between Bitcoin and ponzi scheme, but they just want to stir other people mind to hate and stay away against Bitcoin.

I'm one of the senior advocate of this because most times I blame my late adoption of Bitcoin on Ponzi scheme and I really regret it so hard so at every instance I get to educate people about Bitcoin I do and I also make it very clear to them that Bitcoin isn't a get rich scheme just as Ponzi schemes posses as, hence Bitcoin isn't Ponzi.

On the other hand, many persons are truly misinformed, even some persons over here as may think there is anything like free money and many think Bitcoin is free and the forum with its name as Bitcointalk, should be an earn ground for Bitcoin without any effort and at the end get so disappointed and in some cases abandon their accounts.


Yeah it's not easy preaching Bitcoin to people especially in a country like mine where people think you might have some personal interest before trying to get them into Bitcoin and at the end, I feel so bad about it.

One of the best way to draw attention of people into crypto is to live a life worth asking how you made it.

Simple!

Tell them that the first Ponzi appeared from 1869 to 1872. [1]

That means Ponzi scheme was born about 2 centuries ago and Bitcoin is not responsible for that as it was born in 2009. Beyond Bitcoin, scammers apply Ponzi scheme by many other things: banks, stocks, hedge funds, supplementary medicine supplies etc.

[1] https://en.wikipedia.org/wiki/Ponzi_scheme

If it was that simple, then we should already have 80%+ less FUD now. We have rebuttals for the 90%+ of the FUD; it's just that like I said — most people simply don't want to be convinced.

I sort of agree that we shouldn't focus on Bitcoin as a ponzi schemes as it had nothing to do with Bitcoin itself other than the fact that it was used as a payment method.

However, I do agree that people should be more aware when schemes are asking for weird ways to invest. Why not actual fiat?

Then explain, Bitcoin doesn't make you rich. Nothing does. So if people are using the name Bitcoin in their scheme to get rich, it's most likely a scheme. This I can agree with.

Unlike what other people say about this topic as been unimportant. I see it as a topic that is very important. This is because when scammers comes up with method of scamming people they use bitcoin as a payment method and some of those people that are scammed are newcomers into this cryptocurrency or even the Ponzi scheme. So when they make payments with bitcoin, they know nothing about it and they will assume they have invested in Bitcoin not knowing that they sent it to the scammers in the end of the day. They will say that bitcoin is a scam not knowing that it is a method they used to make the payment.

in my country, cases like this are very much. they only know that bitcoin is forex trading or gambling. they don't even look into it and then assume that something is wrong. it may indeed seem trivial. however, for people like me, it's annoying. in fact, they always think that increasing money with bitcoin requires a lot of money, and what's more disturbing is, so many people get scammed from sites that promise very large percentages of profits within 1 month, and the payment uses bitcoin. they always blame bitcoin for the scam. however, education is indeed very important to make people understand bitcoin. however, people sometimes put up something bad and associate it with bitcoin, like that tv show.

Scammers also use fiat as a payment option. Kidnappers and terrorist demand wire transfers to offshore accounts and in some cases physical cash. This has been the modus operandi for many years, I’m yet to hear the media condemn fiat or someone in big media say “oh if it weren’t for the banks and fiat all these crimes wouldn’t be happening.“ That would be dumb, wouldn’t it?

I tried teaching about bitcoin to some people before, but they also thought I was scamming them, so I stopped teaching people about bitcoin, and I really don't care what other people think about bitcoin. Understanding bitcoin is their right and interest but they refuse, there is no reason for us to waste time with them. I will focus on my investment, that is what I will prove to them whether bitcoin is a ponzi or not. Explaining won't be as effective as showing them the results.

I did my part on this one whenever a friend or relative of mine start to talk to me about bitcoin, they all have one common description about it and it goes like this, "Isn't it bitcoin is a scam or a ponzi?" Something like that and I end up with a counter quickly that they should add the term "used". Bitcoin is just the medium of these ponzis and scams for them to attract more investors. Just like the typical scam and ponzi that uses fiat, if they have to describe it by how they're describing bitcoin then it should be fiat that's also a scam. And from there, they had a light and understanding of that bitcoin was just used and abused by these cons.

I personally think Bitcoin is just like paper currency used as a transaction tool.  The scams and fraud that occur in a Ponzi scheme actually have nothing to do with Bitcoin.  But as we already know, Cryptocurrencies are anonymous where all forms of transactions are decentralized.  I'm currently educating people on how to use Bitcoin or other altcoins properly and how to avoid being scammed by bad people using cryptocurrencies.

True, scams were performed for centuries and crypto is not s course of the problem, just a tool. To be honest, it's hard for me to understand how people fall for those scams, because it's not about crypto knowledge, it's all just about common sense. Someone tells them to send them money and people just do that, like, what the hell.

It is simple answer we can tell and all we should do is that.

There are two main types of people: first type is very easily to change their minds and they're like open-minded. If we give them solid explanation, they are open-minded enough to listen to what we told them and change their stance.

A second type is like close-minded or narrow-minded, they never want to listen to others especially to opposite stance. For those people, let them be with their original opinion, we can not change it.

I agree. I believe it is all about understanding. How many times do these same people talk about the Ponzi schemes where people lose their fiat money?  When that happens it is about the Ponzi scheme itself and if it happens to involve Bitcoin, it is the fault of Bitcoin ;D and it is mainly because they are biased in their view with regards to crypto (Bitcoin) in particular and Fiat.

Many schemes are running which use stable coin for payment and later these schemes are fraudulent.And there are many schemes that use Bitcoin as payment.Now any project uses any currency, stable currency or Bitcoin as payment,And if it is later found out that the project or scheme was a Ponzi scheme,So it would be wrong to blame Bitcoin for this.Paying into any ponzi scheme by buying bitcoin or any other cryptocurrency from an exchange and later blaming bitcoin would be redundant.I myself have been a victim of such a Ponzi scheme where payment was made in USDT. Later it turned out to be a Ponzi scheme. But the USDT was not to blame,And I never blamed the USDT for that.payment can be made in any form,so it would be wrong to blame the Bitcoin or other currency.

Yet if we look at the same view the fiat and gold currency can also be included in that category, because the problem is not in the currency but in the scheme strategy, Ponzi can be used with anything, why they don't see it and only exclude bitcoin.
Yes maybe this is deliberately to indoctrin the public through TV channels, we are well aware of it wherever they are, especially bankers who are very hate hate Bitcoin.
But it's okay, something like that must be there because people who listen to the fuders today will regret in the future and Bitcoin will be in the heyday one day, with the same sentence so many people (I regret why I refuse Bitcoin and don't know him earlier).

I once saw a Tiktok video about discussing the ponzi scheme he said that all crypto was a ponzi scheme including bitcoin I thought this was indeed something wrong when there was a lot of fraud and the payment option using bitcoin or another crypto then people who did not understand would blame this digial crypto asset, obviously they do not have a pretty broad understanding so that blaming that has nothing to do with Bitcoin.

Right, Bitcoin never demands us to be rich in any case but we must realize there is time where Bitcoin can go up and go down due to its volatility, I will still straighten this if someone talks to me, I say Bitcoin is not the same as the scheme Ponzi is a mindset must be changed.

The media is controlled in two ways, either through investments, and here the influential and financial ones control the media channels and direct them to serve their agenda.
The other way is popular pressure to increase the number of people who ignore these channels and thus lose their importance because the importance of the channel is determined by the number of people who follow it.

Therefore, controlling the media through the first method seems difficult, and therefore you should ignore these channels and teach your friends correct information about Bitcoin and leave them the choice.

With the passage of time and the use of people, we will see the media change 180 degrees.

Misinformation has caused a lot of persons to not invest and be committed to investing in bitcoins, It is their loss because that misinformation will lead to regret if not corrected. I lost some money too to a Ponzi scheme that used bitcoins, and that was my very first exposure to bitcoins. It was not a pleasant period, but because I knew that since there were other Ponzi schemes during that time too that were not using bitcoins, I knew that It was not bitcoins to be blamed, but the Ponzi-scheme itself. Misinformation is even sometimes more better than no information, Instead of accepting wrong information, choose to remain uninformed. There is a lot of information flying around, For whatever information that you need that comes to you, it is your duty to verify.

Hey mate, nice of you to have put that misconception off and disregarded those false claims, I don't know why gullible individuals blame Bitcoin for everything I was once in a WhatsApp group where we discuss risk management in investment and I discovered most of the members of that group doesn't have basic knowledge of what Bitcoin is, and how to use it as a payment method and what risk to avoid.
Ponzi scheme operators choose to use Bitcoin as payment to cover their track due to bitcoin's decentralized nature, and if those who fall, victim have that same knowledge of the power of decentralization and its usage by everyone so the responsibility is left to the Bitcoin user not to trust any third party with their Bitcoin in the form of investment.

It is right what is said by @op because the Ponzi scheme has deceived many people. They don't know that the Ponzi and Bitcoin scheme has nothing to do. That's like the famous MMM program that has made many people lose money through the program.

And unfortunately, they immediately blamed Bitcoin rather than finding out who the owner of the Ponzi scheme was. But even so, people continue to follow other Ponzi schemes in the hope that they can benefit. But strangely, when they can get a profit, they don't mention bitcoin but instead the Ponzi scheme that has helped them get money.

good job OP.

Yeah when it comes to Bitcoin people think any ponzi scheme that happened to use Bitcoin, or any website that got hacked where the hackers happened to steal bitcoin, means bitcoin is a ponzi or bitcoin got hacked. Just huge lack of education on Bitcoin and lots of misinformation purposefully used to try to make Bitcoin look bad because its outside the normal system of things.

It has always been confusing to those who doesn't know how crypto or Bitcoin really works.
Most of the newbie's that had talked to me thought that Bitcoin was Ponzi scheme investment and asked how much profit am I getting per week or month.

At the same time it is also important to make people understand the truth. It's extremely easy to just look away but that extra effort that OP has put in, is really commendable.

We as a bitcoin enthusiasts, must go ahead and correct others when possible, is very important at this juncture, because bitcoin is getting prominence around the world.

Clap for you OP!

every person listen to people who have most followers (not social media followers) like celebrities, big investors like warren buffeet, etc. if they said that bitcoin is crap than everyone think that it is absolutely crap and then it's impossible to change their mind, also possible in some cases, like in my case i regularly listened to a  well known social media influencer one day he talked about bitcoin, that bitcoin have no base it is just an another shitty kind of token,app.
then i listen to him my mind became antibitcoiner i was telling others that crypto and bitcoin are another like ponzi scheme, many people investing in it like dumb to make money.
then after 8months I come across cryptocurrency, that time i was became something kind of thinker who thinks a lot , so i researched about it and today i am here .
what we can do? we can try to educate people who thinks bitcoin is another ponzi scheme.

This topic has probably been written by many people before, and no matter where the discussion goes, Bitcoin will continue to be questionable as they have been for the past 13 years. I don't disprove every Bitcoin Ponzi scheme as "seemingly plausible". I believe in the price line and human greed. More money is being printed over time, and it will flow into hard-to-value things like electric cars, AI, rockets, and cryptocurrencies. No one believes that Bitcoin will increase in price in a few months until they look at the price line in 5 years. Just like no one believed in electric cars until Tesla's stock had gone from a few dollars to $500 in 10 years.

These are arguments the government also use because they're effective to people that are unable to critically think whenever Bitcoin is used as a scapegoat for criminal matters.

Terrorist organizations, criminals, financial corruption, ponzi's -- They'll point to Bitcoin as the crux of all these issues when Bitcoin isn't particularly relevant. It's a payment medium and can't possibly be held responsible for actions other people take. The vast majority of crimes aren't committed with Bitcoin anyways. When financial crimes are committed with fiat, you'll be hard pressed to find anyone blaming fiat as innately flawed or predisposed for criminal activity. Better yet -- when central banks knowingly or negligently mismanage fiscal matters for enrichment or protection of the government using their own currency, there are no complaints.

As noted on the first page, the first known ponzi roughly happened since 1869. But do note that lies or deception are innate within humans, so the mechanism or technique will keep evolving. What concerning, as you say, those people who got scammed are wrongly accused of bitcoin as the root cause. It is potentially bad due to the fact some audiences might perceive bitcoin as a bad thing.

Nevertheless, those kinds of people, the people who blatantly trust media or people who easily get deceived, will always exist. Sometimes, educating them is taxing enough for our time. There is a special kind of people that no matter what fact you mentioned or how you educate them, just did not believe or seemed they couldn't get it right.

BTW, you did an excellent job. People who don't really have anything to do with bitcoin might believe it is a Ponzi scheme. Nevertheless, in practice, Bitcoin has only been used as a payment gateway for Ponzi schemes. I have observed numerous fiat Ponzi schemes, yet they are never highlighted. Most claims that Ponzi schemes take place using cryptocurrency payment gateways. Because of this, some people begin to believe that Ponzi schemes embrace Bitcoin. Indeed, the problem is misinformation. When we explain Bitcoin to someone, we should do so clearly.

This is either an attempt to misinform the public, and they already knew what you said to them or this is simply about people focusing on the wrong thing when making their judgments, but whatever the case this will keep happening, so making an effort to correct people when they make this kind of mistake is the right thing to do, but at the same time if you make an effort to do this over and over again you will eventually get tired of it since the misconceptions about bitcoin abound on the internet.

It is such a sad statement, and yet it is believed by so many people. If you think that some people need to buy, in order for others to sell and make profit, hence it is a ponzi, that is literally how stock market or gold market or even oil futures work, someone buys them. The simplest is stocks, if nobody buys any stock, the stock market would crash and burn, so everyone needs to buy some stocks to keep the stock market going. Same logic with bitcoin, of course we need people to keep buying in order to keep it alive, but why would that be any different than the stock market?

Even though we do try to act and fight conditions like this, of course this will not be easy, it is even likely to fail.
The reason is actually simple because fraudsters like this always see ordinary people who are in bitcoin only looking at the profit side and of course beginners who buy bitcoin always use all means to get instant profits so they are easily trapped.
I personally for now just always take care of the people closest to me in this case so they don't get entangled because we also can't hold back the flow like this.

that is true, we can only protect people that are near or known to us because we can explain to them clearly what's going on. btc itself is not a ponzi scheme, it is the people who are using it to scam other people. thus, some noncrypto users have the notion that BTC itself is a fraud because of these scammers.
education is the key to learn what's the real deal in this market. however, not many people are willing to educate themselves to understand what's really going on. hence, the bad notion of the btc and crypto in general.

If we don't want to be associated with these scams, we should be the first ones to call them out and warn the others. The introduction to Bitcoin should start with "crypto is full of scams but Bitcoin is the only good coin", instead of "blockchain is the future, crypto to the moon!". Your case shows that scams and shitcoins can very easily give negative reputation to Bitcoin, and it can be very hard to convince people once the first impression is made.

I find it too impulsive for people to claim that investing in BTC is the same as investing in Ponzi. It is like you are saying that investment in general is a scam since you use money as the currency for it.

I guess this is one of those instances where these kind of people bring down the image of BTC. Given their current status celebrities, their influence extends to people who are also not familiar with BTC, thus ultimately discouraging them to even attempt to try it.

I am curious, however, is there some institution that can sue for defamation. Better, is it possible to sue for defamation given the public outburst they made in spreading false information about it?

The truth about this issue is that people will continue to lose money to the Ponzi scheme and pyramid scheme because they always form a new strategy to lure their victims. Besides, this is a scheme that has been happening before I join cryptocurrency and I am also one of the victims of it when I was still a newbie.
What we can do is try as much as possible to make people know that Bitcoin or crypto is not the enemy but the abuser of the believed technology is the major enemy.

This is how the people into the ponzi schemes fool the common people who doesn't have much idea on what they're doing. They join the schemes on someone's introduction and further they work to continue the chain. What happens in the mean time, someone in the higher position mention that the money is lost and it is the mistake with bitcoin. Poor people believe it and they never raise questions, and the same is being used as an advantage. What OP have done is appreciable and a must thing to make people understand the truth about bitcoin.

You're right. People are using Bitcoin as a tool to scam their victims but the information spreading is Bitcoin itself is a scam which is wrong. This also happened here few years ago, a couple scam their many victims using ponzi scheme then they use Bitcoin as payment system to receive the money of the investors then they runaway with the money. The news are pointing Bitcoin as scam and not clarifying that Bitcoin is just a virtual currency and just use as tool.

This kind of misinformation can discourage people to engage themselves in Bitcoin thinking it's a scam. If you have no knowledge about it then you'll be convince that it's really the case. Hence, we need to do something to make it right through our own little way to help spread the truth behind this situation especially about Bitcoin.

Yeah, You’re really right. Most persons believe Bitcoin is associated with fraudulent activities. The other day I had a conversation with my little sister and her friends specifically about trading in the foreign exchange market with Bitcoin, then one of the girls said “but I thought Bitcoin was some fraud and internet scam stuff”. Right there, I knew she must have heard it somewhere and this girl here isn’t a minor.
Just imagine the number of persons who think Bitcoin is associated with fraud, I believe they are a lot cause coming across platforms and shows where people call it scam daily will wire their minds to think it’s not. I was able to teach my sister and her friends what Bitcoin really is. And I encouraged them to go ahead and teach other people that Bitcoin isn’t a scam or Ponzi scheme but a mode of transaction anytime issues like this are raised.

Those people need to change their perspective on bitcoin, where Ponzi schemes and Bitcoin are different things.
What if the Ponzi scheme uses payment using Paypal? Are they also going to blame Paypal for tricking them?
It doesn't make sense because they think that bitcoin is included in the Ponzi scheme even though bitcoin is independent and not connected by any program.
It would be better if they could check the Ponzi scheme program before they sign up so they know full well that the Ponzi scheme will not give them any advantage.

OP says he watched it on a popular show which means it was allowed by the authorities, and they are deliberately smearing bitcoin and spreading it to keep people away from bitcoin. The people who made that program are not mistaken, but they did this on purpose because there is no way to get people to stop looking for bitcoins, so they came up with this dirty trick.

Just as some governments say that bitcoin is a vehicle for criminals to use, but before bitcoin, criminals have also used fiat for illegal activities. But the government has never said that fiat is abetting criminals.

I started this thread with a clear purpose, which is to highlight the fact that Ponzi schemes found Bitcoin and now they are using Bitcoin as a payment option to run this. They used Fiat currencies and the Banking system before, but now they found a pseudo anonymous method to run these criminal activities.

The people who fall for these Ponzi schemes, burn their fingers and a lot of them do not understand that they were part of a Ponzi scheme.... they think this Ponzi scheme is what Bitcoin is. So they tell everyone around them that they lost money on "Bitcoin"...which is not true.

Do you think people who lost money in previous Ponzi schemes, blamed "cash" or their "Credit or debit card" that they used to make payments to those Ponzi schemes? We should educate the public on what Ponzi schemes are ...and what Bitcoin is... and that Bitcoin payments to Ponzi schemes are the same as any other payment option that are used to pay these criminals.  ::)

Because at least in this case we are also still useful and reduce damage because indeed things like this will definitely continue to happen at any time and cannot be changed especially with crypto which is increasingly popular, there are indeed more and more gaps for fraudsters like this to run action.
Learning is a very important key, but the problem is that there are lots of people who don't think about this because greed and expecting instant profits has always been one of their goals which makes it easy for fraudsters to carry out their actions.

Most people that are aged still believe that bitcoin is a ponzi scheme, the only people that truly understand what bitcoin is all about are the youth. Bitcoin is just a currency and it can be used for anything, they same way bitcoin is been used as payment method for ponzi scheme, fiat is also used as payment method for ponzi scheme, some ponzi schemes that crashed in the past always request that people should make deposit into there account by making transfer from there bank account. I believe any illegal activities bitcoin is used for, fiat is also used for it.

Because most of the newspaper companies just show news about the failure happened in the name of bitcoin. It is possible to see such news in places were bitcoin have gained interest. This is where common people easily misunderstand bitcoin. Something like onecoin is much into discussion and finally the person behind the scheme was found dead. This is one of the news that I read in a newspaper. Already I knew about it,but the person who doesn't have any idea regarding it will fix bitcoin as a ponzi in his/her mind.

Funny how people distort the truth just to blame bad things to Bitcoin.  It was obvious that they are talking about scam companies that exploit people using Bitcoin as a trap.  It is a good thing that you are able to correct the message.  I bet the person who deliver the explanation and message has a concept of Bitcoin being ponzi scheme which is not true.



It is very important because these people are distorting facts making people believe that Bitcoin is the one that made those people lost a lot of money.  Those people who have no knowledge about Bitcoin that hear that statement will have an impression that Bitcoin is a scam.

Though, I wonder what was the reaction of the person when you corrected his statement. 

Yes, it is crazy how people can twist the truth just to put the blame on something they do not fully understand. I mean, sure, there are some sketchy companies or individuals out there that use Bitcoin to scam people, but that is not Bitcoin's fault! It is just like how some people use cash to do illegal things - that does not mean cash itself is bad. I am guessing whoever was spreading that message did not really know what Bitcoin is all about and just assumed it was some kind of Ponzi scheme or something. Smh.

I think part of the problem is that there is still a lot of confusion and misinformation out there about what Bitcoin is and how it works. Plus, it is a pretty new and complex technology, so it is not surprising that some folks are hesitant or skeptical. But the more people learn and educate themselves, the better off we will all be.

But the elders can't be blamed, because they don't know anything about bitcoin, what they know is that through government media channels are spreading fake news about bitcoin. This is clearly the government's fault because they don't want people to use and stay away from bitcoin.

Well done, mate. It is really crazy how these misinformed people are directly using bitcoin during scams. This is one of the reasons why I don't talk too much about crypto to my friends and relatives. Some of them thought bitcoin is an investment platform that provides regular returns. I don't want to waste my time arguing with them. I even heard some people talking about how unsecured bitcoin investments are after the closure of FTX. Well, then I cannot wait for the next bull run and ignore them when some of them start talking to me again about bitcoin.

I recently watched the new Crypto Documentary the tittle was Crypto: The World’s Greatest Scam. and the author of channel is James Jani and this is the link https://www.youtube.com/watch?v=ORdWE_ffirg

He said bitcoin is ponzi too But this is me or am I just wrong to have meaning of the video

This is very important because there are newbies and other people thinking about it because they only know that when it comes to bitcoin, it is a scam because they only think that a ponzi scheme is the same as bitcoin. Mostly, this was the thought 5 years ago, and even recently, I've seen a lot of media showing this and only interviewing those people who had zero knowledge of bitcoin. That is why if there are friends or someone I know who talks about getting scammed in bitcoin, I always talk to them and explain it to them.

Common tactic by mainstream media - Get scenarios where people were done wrong by, label it as what Bitcoin enables, or what Bitcoin is. They don't talk about the magnitude of wrong doing is done with fiat currency. Thankfully the whole "Bitcoin is a ponzi" argument is proven to become less and less effective over time. No matter how many ponzis/frauds/scams use Bitcoin, that will never prove that Bitcoin can be labelled as any of these itself. You've done a good job correcting and fighting the wrong-doing. Right now they look like idiots to us who know...one day (ideally) they will look like idiots to us all.

We all hate misinformation didn't we?

Now who are saying that Bitcoin is the one who's responsible for their losses? Newbies, and those investors who are finding somebody to blame on their wrongdoings, their decisions and their mistakes. When people or in this case investors did something wrong or fell into a ponzi scheme, they will find something to blame with, and Bitcoin is the one who blames them. Another one is that, it's a popular show that you said and often times, these are being controlled by the government so... nothing new. They had and will always destroy and blame Bitcoin.

There are so many videos online that explains how a Ponzi Schemes works. The problem is that, there are some newbies and investors who aren't allotting some of their time watching it or at least make some research but instead, they are more focused on the possible profits that they can get on that project that they are forgetting the chances of it being a Ponzi Schemes. Ignorant investors.

Sorry @OP but it seems that you are the ones who are confused here and not the people or the majority because in my first read about the topic, I already understood what the guest of that show is talking about. He cleared that Bitcoin was one of the payment option used by those Ponzi groups.

By there we already know that it was not the fault of Bitcoin on why those people lost their money. It is true when he said that people lose money in Bitcoin because like I said earlier, Bitcoin was one of the payment methods that is used so people only converted their fiat money or local currencies into it. I hope you get my point here. Thank you.

I fully agree with you, just because bitcoin was used as a form of payment doesn't mean it's a ponzi scheme. If there were no crypto currencies the scammer would have used other forms of payment and the same would have happened. We can't blame bitcoins for the lack of critical thinking. My grandmother got scammed in the past with fiat cash as form of payment, nobody would say that cash is the problem. There will always be criminals trying to take advantage of others, that is not a reason to avoid cryptos. The same could be said with gift cards, the number one asset scammer use to get money from elderly people. Getting rid of gift cards wouldn't stop the scams.

Indirectly, this has discredited bitcoin in public and can make many people distrust bitcoin and not want to use bitcoin.
Yes, their thinking needs to be changed for the good of all those who still think bitcoin is only for illegal activities.
The government says this is because they cannot fully control bitcoin and can only control people who already use or own crypto and record it.
The government does not say that fiat is in cahoots with criminals because many corrupt officials use fiat and maybe some even use bitcoin for money laundering.
So there must be learning about bitcoin so that people know that people can use bitcoin for good or bad things depending on the user.

I won't blame those set of people because they are misinformed of what ponzi scheme is all about, I could remember in 2015/2016 I participated in fiat ponzi scheme called MMM, for the first time it was paying everyone and more people were registering to the platform, and it had investment options of Bitcoin and people do skip Bitcoin because they are not fully aware of Bitcoin, but at a point the mmm lasted eleven (11) months, the months making it twelve (12) months it crashed and make away with many people money,  which that year I was victim of mmm, now are we blaming people who choose fiat options or people who Skip Bitcoin options.  So we have understand that ponzi scheme have no trust and its not reliable.

Very confusing to be honest.

Those people knows they didn't lose their money in Bitcoin but in ponzi scheme, they are just blaming Bitcoin for their stupidity believing on those ponzi schemes that are not even new anymore, they just never learned. They are one of the biggest player actually on creating FUD to scare other people by their own mistakes.

So instead of cryptocurrency getting a round of applause for being great by creating opportunities to people to earn more than in fiat, others chose to doubt it and judge it.

They don't know about Bitcoin when talking like that, anything related Ponzi nowadays is always linked to cryptocurrency and making crypto bad for people who just want to join. I agree we should educate those people who always misinformed other people.

Unless they could benefit from that Ponzi, they would not blame him, but the people below them would definitely disagree with it. But those of us who are familiar with crypto must indeed provide an explanation to the people who join Ponzi, especially when they have experienced losses and not just blame crypto. They have to change their thinking that bitcoin is Ponzi and start looking for the truth by reading articles or asking people who know more about the difference between Ponzi and Bitcoin.

But if those people already have Bitcoin because of the Ponzi program, they shouldn't complain because they already have a much more valuable investment than the Ponzi. They can have the opportunity to earn big profits in the future without the Ponzi especially if they can store their Bitcoins in their personal wallets. But if they just deposit money and get paid 30 days later and find no payment at all, that is their own fault.

Ponzi schemes have given the erroneous picture of bitcoin to many people who are afraid of the market and perceive bitcoin as a coin that will drain their savings. The nature of projects completed heavily influences market earnings. With backup moderators working nonstop every day to keep the project running, Bitcoin has a strong history. Such people should be educated about ponzi schemes and bitcoin in order to prevent them from becoming victims of scammed projects, also they should be cautious of the kind of projects to invest their money on.

Basically if someone really understands that ponzi schemes have never had anything to do with bitcoin, then they can never be conned by any company, but because the understanding of bitcoin is shallow, people are so easily conned and invited to join companies that offer it. Bitcoin does not offer an investment vehicle but rather a medium of exchange that has a clear product on the market, while a Ponzi scheme has never been introduced to the product.

While profits in bitcoin will follow the price on the market and will never be as stable as the profits promised by a ponzi scheme, from this alone people can clearly distinguish the difference between the two. But as I said before, because of the lack of knowledge about bitcoin so it is very easy for them to be scammed.

The quickest way to make a profit from Bitcoin is through day trading, which is challenging as we all know. The alternative is to hold Bitcoin for a long period of time, which is challenging for many people who aren't into cryptocurrencies, because they lack the patience to hold and wait. As a result, HYIP websites and platforms seem more appealing to these people,
it's like a form of short cut .

I have told many people in my country that Bitcoin is not a Ponzi scheme. The problem is that they want to make quick money, so they visit websites that promise to turn their money into a sizable profit in a matter of weeks. These websites asked them to deposit LTC or BTC, which they did, and when the Pyramid scheme failed, they blamed Bitcoin.

This is normal because people like judging something they don't understand, and all we can do is keep telling them that Bitcoin has nothing to do with High Yield Investment schemes.  

How do you counter people who've accepted their own ignorance as bliss? Go and shout yourself hoarse with them in an unnecessary argument on something that should benefit them? That's not me. In the past I used to get bothered about negative comments on Bitcoin until it dawned on me that only trees with delicious fruits get thrown stones at. These people are FUDing on Bitcoin because they've realized the potential in Bitcoin as the beautiful bride with delicious fruits and are trying all they can to shoot it down. Besides, no matter how hard one tries to educate those pessimists it's most likely to end as effort in futility.

The only way to convince those with negative mindsets about Bitcoin is to let them see the result one has achieved. That's if one is that type that likes validation from others. Otherwise, it's still better to keep mute when the success from Bitcoin starts rolling in.

This is one of the major skepticism of Bitcoin and this affects most people who just see bitcoin as a means to make money. They know nothing about bitcoin, how it works or what it was  made for. But this boils down to how bitcoin was introduced to them. In Nigeria cryptocurrency ponzi schemes has continously been increasing since 2020 during Forsage and its still on increasing but there are no longer using bitcoin but rather with some altcoins especially Tron, Doge and USDT.

We just have a thinking that people are well aware of bitcoin and cryptocurrencies based on the adoption and other progressive activities happening around. In reality something around 1% around the world is well aware and making use of it with the right knowledge. This is the reason why people just relate bitcoin and ponzi schemes. This mentality will slowly change when people realise the true need of bitcoin and cryptocurrencies.

I would say the sentiment has changed a lot over the recent years. It was the case that everything crypto-related was a Ponzi, but when I tap to people it isn't the same discussion as it used to be like 5 years ago. Back at the time everything was a Ponzi, but now most of the people realize that there is much more behind digital and decentralized currencies, especially in light of the recent problems that fiat money obviously has.

It's always been like that. The media and those who are against bitcoin will be eager to present it in a negative light when Ponzi schemers defraud individuals using bitcoin. They won't try to rush through talking about how it has helped people become richer or store their assets.

When I hear unfavorable information regarding bitcoin, that irritates me the most. I am aware of how frequently I have run into folks because of problems like these.

Everyone who loses money to a Ponzi scheme does so because they were gullible enough to get engaged in something they had no knowledge about.

People need to change there idea about Bitcoin which is bad. When I first heard about Bitcoin I thought it was something like scam of ponzi scheme, but with time I was able to know that Bitcoin is a cryptocurrency and in a form of investment. Bitcoin has so many benefits to our lives today and I am happy that I am part for the beneficiary that had gained from Bitcoin so far bringing altcoins to the market.

That's just what they say about bitcoins in the media and that's why it takes so slowly for it to progress to be clear in the mind of the common folks because they did this thing for them to be confused. people know about its true usage at the same time while fighting these guys who continue to talk ill about bitcoins and crypto stuff. Thankfully, the case is not the same because, in the past, there will no companies that support it and it really makes hard for anybody to promote it. but now everything is clear for sound-minded people and the only problem is those behind making bitcoins look this bad are not stopping at all any time soon.

There have been a lot of misconceptions about the relationship between bitcoin and cryptocurrency with the Ponzi scheme,  even though few per cent of people already know the difference and role bitcoin plays in the activities of scammers that perpetuate those criminals act like Ponzi.

Bitcoin is just a victim and a tool just like the dollar bills and the rest of other paper currencies that are used for the same purpose by the criminal.

Average person is a lot more stupid than you think is a true statement. People could think that bitcoin is like a ponzi and they could be confused about it, but that is not something that is wrong with bitcoin or anything like that, we are talking about a situation that is wrong with those people who are confused.

They are the ones who do not know the difference and they could be doing the wrong thing and think the wrong thing and we do not have any responsibility to fix it. Forget about what some people may think, they are the ones who are wrong and it is their own responsibility to make sure that they are doing the right thing in the end.

It is also a problem that authorities like Warren Buffett raise they voice and call Bitcoin a Ponzi scheme. Charlie Munger has done the same and even Bill Gates took a full turn on cryptocurrency and talks bad about it. If you are now one of those guys who is skeptical of Bitcoin, then you often listen to guys who have a say in the world. If some of the richest men on the planet say that Bitcoin is dangerous and they keep bashing it in public in all their interviews, you either educate yourself or you believe what people like them have to say.

That is why it is sad that these guys abuse their position and power to spread information like that as I guess we all agree that they should know better. It doesn't help at all if they just bash it but never really talk about the technology. They don't provide real criticism, but if someone is skeptical anyway then this works perfectly fine against Bitcoin.

As for me, I think they know very well what bitcoin is, and what they are doing is just driving people away from bitcoin. I mean, they know the potential of bitcoin, they don't want everyone to get rich quickly, and they don't want everyone to be as rich as they are because if there are too many rich people, they will lose their power and voice.

I am pretty confident that they are also quietly investing in bitcoin, they are money-hungry people, so they will never pass up any opportunity. Rich people never want others to be richer than themselves.

Yes, someone are getting it. The Bitcoin enemies and competition ignore the obvious facts that Bitcoin are simply being used as a payment option in this scenario and they finger Bitcoin as being the Ponzi Scheme to fit their agenda.

The media ride that misinformation to feed the agenda of the people that fund them and the whole confusion are created to create a smoke and mirror scene, where "Bitcoin" are the bad guy.  ::)

In my opinion, there are two main reasons why people associate cryptocurrencies with Ponzi schemes. Firstly, because crypto payments are somewhat anonymous, scammers can run their operations with a minimal risk of being caught. On top of that, people can't distinguish that cryptocurrencies have nothing to do with such schemes, which existed way before they did; it's just easier for scammers now to stay undercover for longer. As a result, the media is quick to blame cryptocurrencies since nowadays it's a common gateway for ponzi schemes. Scam pump and dump coins are also often portrayed as such due to the high yield they promise and their extremely high failure rates.

Basically bitcoin is means of payment which in this case is used as a medium to generate profits from enthusiasts in the various ponzi schemes. The ponzi scheme the OP was talking about isn't new, but it's happened so often that we shouldn't be surprised anymore.

Until now ponzi schemes like that still happen a lot around me, but maybe not using bitcoin as a medium. In this case whoever the victim should not blame the media, but blame the people who developed the ponzi scheme. The knife is not to blame for slicing, but the person. Usually such ponzi schemes are easily recognized by anyone who knows what a ponzi is, but the average layman never notices because they are lured in by the lure of high returns.

Likewise. I have had a similar incident of losing Bitcoin to a Ponzi scheme very early on, in fact, that was my introduction to Bitcoin because my colleague then introduced me to this very Ponzi scheme and didn't know that we were both going to lose. Then we were to pay for a service with Bitcoin which he told me and we did as I said, my introduction to Bitcoin but that didn't stop me from investing afterward when I really got to understand Bitcoin. I also believe aside from misinformation, personal belief too matters.

These programs should proportionate a fair debate about bitcoin by inviting a bitcoin enthusiast and a bitcoin criticizer, so these points could be brought into the discussion to enlight the population about the facts behind so many accusations bitcoin has been suffering since its beginning.

Logic and reality wouldn't allow the concept of "bitcoin equals to ponzi" to remain alive on the mentality of the laymen people.

Thanks for fighting the good fight and setting the record straight, but this discussion has been up since time immemorial, that at this point all that one really needs to disprove this "bitcoin = ponzi" logic is to get their lazy asses of the couch and do a quick google search. Some people have been very enthusiastic about this debate back in 2018 when this is still a pressing topic but as what some people in this thread have mentioned, there are other more important topics at hand that should be given focus.

The problem for now is that even if we try hard to convince everyone that it's not ponzi I don't think it will be taken too seriously because there are several factors like there are still many people who are skeptical and there are still many naive people who fall for scams in bitcoin.
Even though it's not Bitcoin's fault, it still has a stigma like that. I think the most important thing in this case is to establish to yourself and those closest to you that it is wrong because you also cannot force other people's opinion that this is not ponzi either.

Each individual already has his own burden of thoughts or conflicts. Against all the misinformed people about the Ponzi scheme in the name of Bitcoin, I think it might be drains our energy and makes us depressed, I think it's bad for our mental health.
Trying to provide insight or justify a negative understanding of Bitcoin to our family or the people closest to us, sometimes we are often overwhelmed, right? It's better for us to do something real and realistic according to our abilities such as by giving insight to the people closest to us or people who are interested in Bitcoin, it will be easier than fighting the thoughts of people we don't know. Or maybe if we want to reach a wider community we can make articles or content about Bitcoins which is acceptable and makes sense to other people, but it requires great effort and is not easy way.

If I may even ask what could be their reason of using bitcoin? Are they just trying to hide their evil plans to later on blame bitcoin for their fraudulent activities. People who don't know what Bitcoin is all about would think Bitcoin and ponzi are related not knowing this people who are into ponzi are just too smart in scamming people. The truth is that no matter what, the people who have for victims into scheme like this will always find out the truth knowing what Bitcoin is all about.

I agree with you. I think the problem with ponzi-schemes boils down with the responsibility of the person attempting it. Even if they are warned about its engagement, if they still want to try it, then they are free to do so. At the end of the day, the loss will be on their side in the event that the ponzi-scheme closes at any time of the day.

Personally, I have an experience with a ponzi-scheme where I thought the returns were to good to be true. I invested $80 worth of BTC in hopes of having a 120% return at the end of 3-6 months of investing on their website. After two (2) months of being operational, the company decided to quit, in which I lost all of my BTCs in the process.

If people are still willing to try these ridiculous rates, then they must also bear the consequences and embrace them at the same time.

I agree with this assessment...victims of scams like Ponzi did not lose money because of Bitcoin because it is just used as the medium of exchange just like the dollar or any other currency for that matter. However, this association is quite understandable all because Bitcoin remains to be relatively young and people don't have the time to scrutinize the details. It is just sad that the mainstream media is not correcting this wrong impression...as they are actually looking for good headlines to take in more attention for the content they are marketing. But generally am not worried because eventually people will realize that Bitcoin is not on fault here but people who are greedy (both the operators and the victims) as they all want easy, fast money. 

What you just explained is where the main problem came from, people were swindled and are still being swindled with their hard-earned money using Bitcoin as a payment system. This is now more lucrative because of the privacy and anonymity that could be achieved through the coin.

But it's high time people know that Bitcoin is not any scheme, not a program that promises money in return, but a payment system and an asset.

Anyone who invested money in pyramid schemes in the name of Bitcoin is at the risk of losing their money.

Bitcoin is already 14 years old now, for me bitcoin is no longer relatively young to be known. In fact, you are very likely to find that most countries are familiar with bitcoin even if their governments don't want to adopt it as currency. It's just that some people lack experience in recognizing the characteristics of a ponzi scheme because of their ignorance. This is why ponzi schemes still work in some places.

Greed and the lure of high returns have led some victims to lose money, but it doesn't make much sense to me when they blame bitcoin as in the recent case regarding the mixer.

Many people still have mindset about Bitcoin and Ponzi are the same with promising profit returning, right now many Ponzi investment use Bitcoin as their label name or payment currencies trough Bitcoin how to make many people interested after looking on Bitcoin advertising but their working investment system is Ponzi.

Every month in my country have new cases with Ponzi investment, I don't know how many people still stupid dur our government every day publishing about criteria or Ponzi investment kinds. I think some member in Ponzi have excited how the leader promising with daily profit returning without need to work, sleep well will get earning well is the sweet word from leader in Ponzi investment.

I agree, but if people are easily swayed by tricks like that it means they don't know the details of how bitcoin works. I mean he has bitcoin at least before owning it already knows the risks because various kinds of fraudulent information as much as possible need to be avoided and find out the truth.

back to us, if we may still be able to reach the people closest to us and we can still advise them to be careful with this fraud that is often found. But if we remind you with a wider reach, we also have to have a wider influence, for example as influencers etc.

But we know that there are a few of them who do really suggest out these ponzi schemes rather than on giving out some caution or alert to people on which it do ends up on a disaster for those people who did really decide to follow them up. Bitcoin do really get that kind of impression on which it did been considered as a ponzi scheme because people do get involved into those things which Bitcoin is the primary
payment and when that time comes where the funds had been scammed or ran away then those newbies would really be having thoughts that bitcoin is a scam.
In overall they dont really just know on whats Bitcoins in the first place and whats ponzi, there's really a difference.

This sort of ponzi scheme is mostly what's causing some people to have misconceptions about Bitcoin. I am glad you made the correction, OP. I appreciate that. When I first bought Bitcoin and showed my friend the bitcoin in my wallet, he somehow felt discouraged and asked me why I wasted my money on such a scam thing, but I had to explain to him that Bitcoin is not a scam, and he was like, "Where can I sell the bitcoin?" All those silly questions were because he felt there was nothing like Bitcoin and no market for it. I just feel it is always right for those of us who are at least informed about the reality of Bitcoin to correct people who have misconceptions about it whenever we encounter such people.

Bitcoin shouldn't be blamed in such cases, because even the dollar can be used in a ponzi scheme. Maybe the level of anonymity Bitcoin offers makes it attractive for scammers and ponzi scheme operators. However, I think Bitcoin will be more controllable in the future in terms of transaction senders/receivers, whereas we can see that the mixers are targeted by many governments, and the US recently asked all exchanges that operate on their land to share their information of all crypto currencies transactions with the government. I see this case as helpful in tracking all types of scams, including ponzi schemes, yet it could harm the privacy of users. However, Bitcoin will always suffer from the criminal activities it's used in as a means of payment, so it needs global recognition and regulation in order to have a unified law to track scammers.

Of course people are confused. They're confused ever since government told them that Network Marketing is a pyramid scheme, just like they are saying that Bitcoin is a Ponzi.

When they fall into the collapse of government because they couldn't figure out how to think for themselves, it will be too late for them.

Time for those of us who understand, to combine Bitcoin with Network Marketing, to help some of the people survive, with us at the top.

8)

Well, OP have done a great work. Not everyone does it. Bitcoin at the beginning days were much used on gambling and for illegal transactions. This itself a negative discussion on bitcoin. Later the same bitcoin have grown good and had been used for investment, transaction, trading needs. People should understand the difference between the ponzi schemes and real potential of bitcoin compared to other cryptocurrencies available for usage.

The greatest advantage in using Bitcoin for illegal transactions is, to show that somebody else said that it was illegal, not you.

If you have an agreement with government or somebody else that a certain kind of transaction is illegal, then it is for you, because you agreed to it.

In the USA, the 9th Amendment (in the Bill of rights) says, "The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people." This means that we are not simply limited to the rights that are listed in the Constitution. See https://www.law.cornell.edu/constitution/ninth_amendment and https://www.law.cornell.edu/constitution-conan/amendment-9/ninth-amendment-current-doctrine.

File a statement with government that a particular right you are using is a right for you, even though they say it is illegal. Base your use of it on the fact that the 9th Amendment is their restriction, to keep them from messing with you for doing what is legal in your eyes.

The only things that you must do are, don't harm anybody, or damage his property, or threaten him, even accidentally. If it is something illegal in a big way, figure out ahead of time how to successfully stand against them in court.

8)

Compared to the many currencies used by many countries, Bitcoin can still be considered as relatively young as some of them can be existing for hundreds of years. And if you don't mind, when you were just 14 years old am sure people still look at you at that time as a young boy, right? Even a man at 20 can still be considered as a young man. We can also google on how old is the USA dollar. Surely 14 years is a short period in history even in the world of finance and money especially if we are going to talk on financial institutions.

Yes you're right. The OP actually did a pretty good job of justifying their statement and giving them an education. it's quite funny when a place goes bankrupt or is a scam, then highlights its payment alternative as the source of the scam. however, they need to learn more to provide accurate information to the public because it could negatively affect their own shows. I think a lot of people would realize that if they understood crypto, and they would embarrass themselves.

Apart from making a payment with bitcoin for the Ponzi scheme, some people have the mentality that bitcoin itself is a Ponzi scheme, they believed once you are dealing with it online it doesn't differ from it I laughed sometimes hearing something about this, and I do correct the notion about it to give more clarity to them

Misconceptions everywhere, misinformation is one the things that have discouraged many out there from investing in bitcoin, and I must commend OP for reaching out to them to correct their erroneous assumptions, it is actually very annoying when misinformation like this come from people the society look up to to pass accurate information to them, this goes a long way to prove that indeed, no man is an island of knowledge, no matter how educated that person is, there must be something somewhere he or she doesn't know, or have the wrong information about.

Agreed, BTC takes the blows to the uneducated. It was and is certainly used to carry out many schemes, but arguably so is USD and every other form of currency pretty much, and those deal types in cold hard cash aren't able to be tracked. Bitcoin leaves a bit trail! I mean there are ways to be more anonymous though mixers and the likes but there is always a way to trace back, correct me if I'm wrong here.

I can agree with you mate in every aspect because as we all know that Bitcoin is much more decentralized and there are no any kind restrictions to it and thus same way it is used by the Illegal people for money laundering, ponzi schemes and also other such big scams and thus it's not good for the normal people.
From 2009 to till now Bitcoin has seen many big frauds and also billions of dollars of scams in every aspect where people have lost too much money and that's why control your money by your own and that's the only to save your Money too and I am always careful too.

Describing bitcoin as fraud is wrong, in practice it is not bitcoin who do it but individuals or groups. That's why bitcoin is different from a ponzi scheme, you can trade yourself with the money you have and the profit will be according to the way you invest in bitcoin, although the technical investment varies and depends on how to see the potential market conditions for trading

While ponzi schemes carry a much higher level of risk, you will be relying on a second or third party to make the investment and ponzi schemes are generally run without transparency. I agree to avoid scams and losses you have to control your money and know how to invest before you start.

I will say this your point is not legit because does come out and does kidnappers you mentioned cannot use with current as a point of payment but scammers who allocated can use bitcoin as a bunch of payment because they are customers before now when bitcoin was introduced newly many people who are scammers do use bitcoin to scam people so that is one of the things that scammers to and back causes people to be afraid of Bitcoin

That's because they don't understand what a ponzi scheme is.

We're in a situation where people who don't know anything about bitcoin suddenly have an opinion but note that this is a normal thing. Most men act like they know how to fix a car and when they come to a mechanic they always talk like they know what's wrong and the mechanic gets annoyed.

When you're in a business for years you know that someone is boasting when they really have no clue. It's the same with us bitcoiners when someone talks shit in TV or writes a stupid article we get angry. Relax, it's normal. You just can't convince everybody.

That's because they don't know Ponzi scheme appeared long before Bitcoin Genesis block in 2009.

They can not say a late comer (Bitcoin) is a reason of an early comer (Ponzi scheme). If they said so, it's a broken logic in their thinking flow.

It's actually important, most of the mainstream medias just look at Bitcoin because they think Bitcoin is being used just for crimes and bad things, but once the price rose up like several times in past few years, they start to search about Bitcoin and stated that it's a great idea to invest now. How ironic is the media nowadays?

Mainstream medias in TV/Magazines/Radio are one of the reasons the information is spreading really fast so need to make more educations about Bitcoin so people stop looking at one side only but they have to know about the good use of Bitcoin and they probably don't even realize that they have been using the technology behind Bitcoin for their entire life.

Ponzi schemes have indeed had a very bad impact on the valuation of Bitcoin for people who do not understand the current performance of Bitcoin, and Ponzi schemes are specifically designed to deceive people by blaming Bitcoin and other altcoins, so from the beginning Ponzi schemes have indeed become a big threat to crypto users and until now the Ponzi problem has not been overcome properly, So when someone says that, never ignore it and we can say that he must learn more about the crypto world so as not to judge negatively about Bitcoin.

I really think that dissemination through the media is one of the most effective ways to spread education and understanding about Bitcoin and reach the wider community.
But unfortunately, as long as the government in a country doesn't regulated Bitcoin or doesn't support Bitcoin, I think we won't be able to disseminate education about Bitcoin on TV, magazines or even radio. I don't think it can be used as a dissemination of Bitcoin education because all of their programs will be subject to the rules in force by the government of that country.
It's a different story if their government has regulated or even legalized Bitcoin, of course it will be easier to spread Bitcoin education through TV, magazines and radio media. Maybe they can even make a special tv show to provide understanding and education about Bitcoin to educate the citizens of their country.

Why would you use conventional means like print or TV to reach the masses?  Did you know that great revolutions start quietly from the bottom up?  We are lucky enough to live in this century where information runs fast, there are platforms like YouTube or even better in my opinion to use podcasts, the important thing is that influential people start talking, you don't need state approval.

I just realized that those relatives of mine that told me a few years ago that I was lucky to have an online business might think bitcoin is like a Ponzi scheme that gives rewards to its investors regularly. They knew that I am into crypto trading, particularly on bitcoin. It was annoying because I tried to explain to them several times that I don't have a business and trading is like 50/50 and does not guarantee profit like the traditional business scheme. Yet after a few weeks when I met them again, they will tell me that I have an online business.