[why is this scam working] new bitcoin investment system making millions.

[jackg]

What started last year as a trend with "dragons" from dragons den proported to invest in a scam bot that's just going to steal your money still seems to be going on.

I'm guessing this means the scammers are profiting quite well from it but I still don't understand why people would fall for this sort of stuff without doing research - I guess the false promises are too alluring...

Also, is there a reason sites like Google, quora and others won't stop allowing obvious scams to be advertised on their site. Especially since the whole "we don't want to advertise on contraversial videos" on YouTube stuff why hasn't that moved across into not wanting controversial or potentially scammy ads in the pool?

[mk4]

I'm guessing this means the scammers are profiting quite well from it but I still don't understand why people would fall for this sort of stuff without doing research - I guess the false promises are too alluring...

Welp, it's the typical reason of people wanting to "get rich quick" unfortunately.

Also, is there a reason sites like Google, quora and others won't stop allowing obvious scams to be advertised on their site. Especially since the whole "we don't want to advertise on contraversial videos" on YouTube stuff why hasn't that moved across into not wanting controversial or potentially scammy ads in the pool?

Because their advertising platforms are automated(and aren't manually checked by employees). You just have to be clever and play with the keywords on the ad samples a bit to potentially slip in through the system. Same thing with controversial ads that manages to get accepted and displayed to the public.

e.g. When advertising bitcoin/crypto related stuff, just don't mention bitcoin/crypto/blockchain, and just put the ad under "finance".

As a person who've used multiple ad platforms(Fb, Google, not Quora though), people are underestimating how easy it is to publish the sort of "not-allowed" ads. You just need to re-publish more ads once they get taken down.

[Darker45]

I'm guessing this means the scammers are profiting quite well from it but I still don't understand why people would fall for this sort of stuff without doing research - I guess the false promises are too alluring...

Too alluring that people would buy it even though most of them have the idea that it is 99% scam. Because, what if it is true? Just like betting on a lottery which gives you a single chance out of tens of millions. But, why not, right? Because, what if I win?

Many people take the risk with an amount they can certainly afford to throw away for that tiny possibility of it being real. Little do they know that those tiny amounts from like-minded individuals are giving the scammers a good deal of easy money and, worse, encourage them to proliferate.

[o_e_l_e_o]

Because their advertising platforms are automated(and aren't manually checked by employees).

It's all about money. Google, and by extension YouTube, exist to make money. Not to provide a service, not to host content, and definitely not to do due diligence on their users' behalf. They exist to make profit.

What's the best way to maximize profit from ads? Allow as many people as possible to pay for ads, and spend as little as possible on screening said ads. They set up an automated process to screen out the worst offenders simply to cover their own backs, not because they actually care about their customers. They are quite happy to take money from scammers paying for adspace. They do not care if their users get scammed.

No one should be relying on anybody else, especially not big corporations, to do their research or due diligence for them.

[jademaxsuy]

Because their advertising platforms are automated(and aren't manually checked by employees).

It's all about money. Google, and by extension YouTube, exist to make money. Not to provide a service, not to host content, and definitely not to do due diligence on their users' behalf. They exist to make profit.

What's the best way to maximize profit from ads? Allow as many people as possible to pay for ads, and spend as little as possible on screening said ads. They set up an automated process to screen out the worst offenders simply to cover their own backs, not because they actually care about their customers. They are quite happy to take money from scammers paying for adspace. They do not care if their users get scammed.

No one should be relying on anybody else, especially not big corporations, to do their research or due diligence for them.

Yeah exactly google need also the money paid from these ads that are doing scam activities. Remember that google has a huge audience and it is easy to reach potential victims from the scam.

In our place a lot of investment scheme had been introduced to the community. Sadly, the scammers were using the cryptocurrency (bitcoin and eth) integrated with their products though it has been helpful like paying bills or buying prepaid load. This is their bait to invite members to join them and just need a capital to start with in selling or buying their products using cryptocurrency. But this is not really the point because you were being ask to invite  more members and earn high commision rates from the invites.

This is clearly a networking investment scheme. Many had ideas about it but still manage to join to earn high commission from their invites. Too much greed always been seeing a lot of giveaways and bonuses to a member that have invited more users to invest in the platform rewarding them with smartphones, laptop and even a car from the invites. Even myself wanted to join and earn those bonuses unfortunately I know it is a scam and I cannot take the conscience that will hit me if I had invites and then their money invested suddenly taken away with the scammers headed the scam platform.

[jackg]

Yeah tbh I think you guys got the right thing that they want to pretend they're doing something to protect people from scams when they're really not wanting to devote the money into protecting their users.

I was considering earlier that Europe and other countries wouldn't be able to interfere with something like this without getting accused of bullying by the US government (even if they did concede afterwards) so it's probably something they've just ignored.

[AakZaki]

~snip~
Many people take the risk with an amount they can certainly afford to throw away for that tiny possibility of it being real. Little do they know that those tiny amounts from like-minded individuals are giving the scammers a good deal of easy money and, worse, encourage them to proliferate.

They think that the small amount they can pay for the scammer project will not make them suffer too much when cheated. But it does become a green field for scammers to harvest everything together and very easily.

These people are also tempted by the many bonuses that will be given, even though all of that is just a hoax.

[erikoy]

Most of it is due to local advertising it to their friends and friends of friends invite also because of some good offers like high commission rates. One can think of big money earn as profits by just the commission rates from the invites. Usually the one who do the invites usually explain well especially on how to earn big commission rates in exchange of investing that for them considered as one time payment but promises a good fortune in the future. Easy to get millions of money just an accumulated investment from the invites and the only promise is a good fortune awaits.

[Lucius]

I was considering earlier that Europe and other countries wouldn't be able to interfere with something like this without getting accused of bullying by the US government (even if they did concede afterwards) so it's probably something they've just ignored.

It is wrong to think that the EU has done nothing against large US companies, because in the past 10 years the total amount of fines is €8 billion only for Google., and last year they get €1.49 billion fine "for abusive practices in online advertising"

Since 2010, the European Union has launched three separate antitrust investigations into Google for violating the EU's competition laws due to its dominant position in the market. These cases have resulted in formal charges against Google related to Google Shopping, Google AdSense and the Android operating system. To date, Google has been found guilty of antitrust behavior in the cases related to Google AdSense and Android, and has been fined over €8 billion.

On 20 March 2019, the European Commission imposed a fine of €1.49 billion on Google for abusive practices in online advertising.

Obviously, Google considers these penalties to be rather insignificant if it continues with unchanged business practices, and the reason for that is the very influential US lobby that exists in the EU and which protects their interests. On the other hand, let someone try to be harsher towards the US in any sense, if according to data from 2020, their military forces in the EU number over 60 000 soldiers.

Why do people fall for scam even though it’s obviously it is scam? Simply because they are uneducated, they want success overnight and because scam is served on a silver platter through companies like Google.

[skarais]

Why do people fall for scam even though it’s obviously it is scam?

Two obvious reason for this question are lack of knowledge and want to get rich quickly. For the first reason (Knowledge), sometime there are people who have experience and knowledge, but they also have the potential to become victim of fraudulent attempt because fraudster are too smart to take advantage of opportunities that exist even in small percentage. Google has been a terrible place so far with regard to advertising that lead to fraud on other people, they deserve to be blamed for what is happened so far. They have been a hiding place for fraudster to this day even though many people have reported the incident to them.

The desire to get rich I think can still be considered normal for all human, but if they want to get it in an instant then I think they are possessed by demon that make their brain can not think clearly. Many case where people who want to get rich quickly will end up with fraud. Such case should be used as a guide so that life become more directed and secure.

[masulum]

Why do people fall for scam even though it’s obviously it is scam? Simply because they are uneducated, they want success overnight and because scam is served on a silver platter through companies like Google.

IMO, Aside from the desire to get rich quickly, large profit offers are also a common problem. Not just on crypto, isn't it? With any cases that occur in the real world, such as fraud through e-commerce, ore similar cases that already broadcasted on TV, it should have provided education directly to all people to be careful and not believe in similar offers like "1000% profit, 100% money back investment, 100% profit for a week, double your money quickly, etc". However, giveaway traps people very often and it's works, because victims see this as an opportunity to try something they have just seen. Not because they do not understand, It's happens many time.

There are lots of fake investments in the real world with Fiat case, they assume "if you don't try, you missed the opportunity". In the world of sales, sales give an effort by adding "urgent" factors to their customers, one of them using offering words like "only today, special price, etc". This strategy then makes someone to think of doing something shortly to buy the products. Which in my opinion they are caught in a scam because of something similar. They rely on offers and profits not just because uneducated or doesn't have knowladge. Another factor, not doing research before they are make a decision to invest or buy shitcoins. If they are learn from this case, maybe they are will be more careful about any investments offer.