i'm glad there are so many scams and frauds

[paulie_w]

frankly, this is a shorter-term macro-education for the larger scams that are able to be perpetrated in the world of money and finance.

seeing this free market with all the little guys playing out the old standards should pretty much harden fools quickly.

edit/caveat: i also don't know what the fuck i am talking about

[Gabi]

+1

but my EVE experience tell me that greedy people won't learn. They will keep falling for scams.

Oh well their fault. If someone believe the "hurr durr 7% per week" they deserve to lose everything 

[WikileaksDude]

+1

but my EVE experience tell me that greedy people won't learn. They will keep falling for scams.

Oh well their fault. If someone believe the "hurr durr 7% per week" they deserve to lose everything 

This can be applied for the people who fall for fake SMS Advertisements too. They deserve what they get.

[niko]

Yes, there is definitely some educational value to it. In most cases, victims should look at their loss as tuition. Besides the educational aspect, scams also prove tha Bitcoin protocol works.
 https://bitcointalk.org/index.php?topic=96859.msg1067323#msg1067323

[VeeMiner]

I'm not glad that there are so many scams and frauds. But it makes sense. Free market means freedom to use and abuse at the same time. As long as there are gullible people who will fall for it, there will be scammers. It's just a question of supply and demand.

[cbeast]

+1

but my EVE experience tell me that greedy people won't learn. They will keep falling for scams.

Oh well their fault. If someone believe the "hurr durr 7% per week" they deserve to lose everything 

+1
Eve hardened me to online scams long ago.

[MysteryMiner]

Idiots and inbred imbeciles should not use Bitcoin and computers in general. They will be scammed and stolen. All other free thinking people are welcome and benefit!

[greyhawk]

Idiots and inbred imbeciles should not use Bitcoin and computers in general. They will be scammed and stolen. All other free thinking people are welcome and benefit!

That would mean going back to the Internet pre-WWW. Pandora's Box is open. Eternal September is here to stay.

[MysteryMiner]

Idiots and inbred imbeciles should not use Bitcoin and computers in general. They will be scammed and stolen. All other free thinking people are welcome and benefit!

That would mean going back to the Internet pre-WWW. Pandora's Box is open. Eternal September is here to stay.

Keep anything important off the computers if you dont know how to manage it!

[mobile4ever]

.

Keep anything important off the computers if you dont know how to manage it!


Good advice. I am not glad for the scams, but they do prove the durablity of bitcoin.

[MysteryMiner]

Well they really prove durability of Bitcoins as a medium of value and they also will teach the teachable part of human population to THINK! So OP point of view is valid.

[evoorhees]

I'm not "glad" that there are scams. However, there is a positive effect, which is inoculation of the system.

As scams happen, and businesses fail, and trust is tried and tested and broken, it builds the resolve and resiliency of the system.  Just as a society never exposed to any virus may be wiped out at the first appearance of one, so too an economy never exposed to fraud/failure is more susceptible to a massive disruption when one arises.

You can also think of this in terms of natural selection. Weak businesses and people will lose their money, the strong will earn, keep, and build with it. Capital tends to move toward its best caretaker in a free market (though it's not a straight line to get there - many bumps and regressions along the way).

[hua_hui]

Scam and fraud can give a lesson to people how to avoid them in the future. From some aspect, they are not bad and can increase the security level of existing system. Indeed some  companies did fail from the scam or fraud. They are so unfortunate and shoud be blamed themself, not others.

[Kipsy89]

Well, it's just another form of scams, actually. I mean, people are willing to pay tons of $$$ because they chase the freaking dream of getting rich quick with mining. No due diligence, and they fall for BFL for example!!!

[bryant.coleman]

but my EVE experience tell me that greedy people won't learn. They will keep falling for scams.

Hmm... two type of people fall victim to scams.

1. The non-tech savvy
2. The greedy

For the first type, we can't do anything. And I don't care about the second type. An example is the Mt Gox scandal. Everyone were warned that keeping Bitcoins in the exchanges is not a good idea. But the greedy ones never listened. They wanted to make quick money, by short selling their coins.

[Fiftysven]

Though lessons u get taught in the bitcoin world 

[chaosPT]

frankly, this is a shorter-term macro-education for the larger scams that are able to be perpetrated in the world of money and finance.

seeing this free market with all the little guys playing out the old standards should pretty much harden fools quickly.

edit/caveat: i also don't know what the fuck i am talking about

Having too much vodka did you 

[Xch4ng3]

It has it's pros and cons. People who constantly want to trash Bitcoin will use the fact that it's not reversible as their excuse to dismiss Bitcoin, as if scams like that don't happen with fiat money.

Hopefully people learn to use escrow or at least deal with people that can be held accountable through legal avenues. 

[chaosPT]

It has it's pros and cons. People who constantly want to trash Bitcoin will use the fact that it's not reversible as their excuse to dismiss Bitcoin, as if scams like that don't happen with fiat money.

Hopefully people learn to use escrow or at least deal with people that can be held accountable through legal avenues. 

Even trusted member would scam you with thier trust like Project and the other .

They just get more trust and go for the bigger scam .

[maurya78]

The scams also help keep BTc price down longer to levels allowing mainstream adopters to buy in relatively low