India and Crypto scams

[manav1112]

Hi,

I've been seeing that cryptocurrency is used again and again for scams against Indians in this forum, outside and in the real world.

We can see trybitcoin.in and scams like that being actively promoted
We can see MLM scams being promoted like gainbitcoin and powerhashing
We can see coins like Mudra coin ruining India's name in the bitcoin community here
We can see people selling miners with false claims for exorbitant prices
We can see other forums like Quora being used to promote MLM and ponzi schemes
We can see in real life people being scammed to start investing in false cryptocurrencys.
Yet the educated cryptocurrency community here does very little.
i



Posts which are promoting sites such as trybitcoin.in should be flagged, trust should be negative and their posts should be removed.
Any allegations against coins (mudra, trestor) should be taken seriously and their teams should come up with relevant and responsible replies.
We should have pinned posts and posts with lists of scams as well as guides for new people to cryptocurrencies, informing how to find if a coin is a scam and a list of verified scam coins/sites as well as a guide on ponzi schemes
Coins like Mudra should be scrutinized and reported as soon as it is posted!

For Quora, I found that specially these two Indians are dedicated completely to get people into Ponzi schemes and they then get referral money - and they do it from highly educated individuals.

https://www.quora.com/profile/Shishir-Gupta-64
https://www.quora.com/profile/Asma-Khan-47


Here are some scams from those two troublemakers on Quora - and look at the comments - people actually believe them and lose money!

https://www.quora.com/What-are-the-biggest-mistakes-youve-made-in-your-career-development-or-job-choices/answer/Asma-Khan-47?srid=tno3 - when she said Hashocean is the best
https://www.quora.com/What-are-some-of-the-Indian-Scams/answer/Asma-Khan-47?srid=tno3 - now she says its a scam
https://www.quora.com/Is-cloud-mining-of-bitcoins-or-other-crypto-currencies-a-scam/answer/Asma-Khan-47?srid=tno3 - now wants ref money from genesis mining
There are much more, look at her profile: https://www.quora.com/profile/Asma-Khan-47

Take a look at Shishir too:
https://www.quora.com/How-can-I-earn-huge-by-mining-bitcoins-at-home-using-my-own-hardware - Endorsing Asma
https://www.quora.com/What-is-business-to-do-with-1lakh-or-below-capital - Promoting Genesis with ref code
He even made a video endorsing hashocean: https://www.youtube.com/watch?v=oXk9jFIn4gg


And they dub themself as research scholars on Bitcoin

Lets create a healthy cryptocurrency community here

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[KJBit]

I totally agree with this post. People who know better should come forward and caution novice bitcoin users to potentially scamy deals being promoted on any forum, not just this one or Quora.

But that said, I do notice people in forums, such as this one, who come forward and call bullshit on deals that sound too good to be true. So it's not really that bleak a situation. There are many good Samaritans here keeping things real and honest.

[philiveyjr]

Thanks for the collection of posts. I doubt its speicifc to India. I would assume its happening in all countries. Did Mudra end as a scam ?

[equator]

It is true that not only in India but the cloudmining and New altcoin scam are going every where in all country not specific India.

It is upto the investor to first check the status of investment where he is going to invest, because when ever some investment assure you for double or more returns of your investment in short time, then just think that it is going to be scam, because what source they got that they will give you such a high return.

due to greediness the investor invest it and after getting scam crying it. Their are so many topics and thread everywhere where alert is their against this type of investment.

[bitbibit]

@manav1112

This post has some amount of truth with regards to scams that need users to be cautioned about. However I am not sure what is the evidence to suggest Trybitcoin as a scam. If that is the case ,clear details need to be furnished on the forum that suggests reasons why it is to be listed as a scam. There are in fact a lot of positive comments and feedback reviews  from the end users of Trybitcoin.in that suggest otherwise and am hence a little curious.

Lastly, i believe it is equally important to allow for bitcoin/ crypto start ups to grow in order to expand the bitcoin adoption, we should together build a more palatable system for its end users.

Any factual information that can be provided regarding the details of the www.trybitcoin.in scam would be greatly appreciated to do further research.

[DomainMagnate]

Op thanks for this useful piece of information.Many Indians haven't even heard of bitcoin and therefore they are more prone to get scammed

[bitbibit]

That is most certainly the case, however there are way more cash scammers than any other medium of value transfer. In order for the benefits of the Bitcoin technology to be capitalised, more entities need to come up to expand the adoption. Scammers will always be a part of that growth and transition which should not entail bitcoin entities that are providing a valuable service to be written off on baseless facts. It merely stalls the network affect.

[trybitcoinin]

Hi Manav1112,

I am from Trybitcoin.in and I would very much be interested to know the reason you have termed us a "Scam". May I know if you have transacted with us and is there an instance where we have not fulfilled what we promised?

We are a genuine Bitcoin service platform, educating and helping people to know more about Bitcoin and trade them easily. Our service is very straight forward, where in we don't even hold an individual's money or bitcoin with us at any point. All exchanges with us are instant, where in we send Bitcoins to the individual's wallet instantly as soon as we receive his funds and vice versa.

In terms of the knowledge about Bitcoin, we have learnt, followed and educated others about Bitcoin passionately for many years now and will continue the same. Our interaction with people while we traveled and also during our meet-ups inspired us to create a service that is currently lacking in India. We are currently in the beta testing phase and learning everyday through our users who transact with us and many others who contact us to know more about Bitcoins.

[manav1112]

Hi Manav1112,

I am from Trybitcoin.in and I would very much be interested to know the reason you have termed us a "Scam". May I know if you have transacted with us and is there an instance where we have not fulfilled what we promised?

We are a genuine Bitcoin service platform, educating and helping people to know more about Bitcoin and trade them easily. Our service is very straight forward, where in we don't even hold an individual's money or bitcoin with us at any point. All exchanges with us are instant, where in we send Bitcoins to the individual's wallet instantly as soon as we receive his funds and vice versa.

In terms of the knowledge about Bitcoin, we have learnt, followed and educated others about Bitcoin passionately for many years now and will continue the same. Our interaction with people while we traveled and also during our meet-ups inspired us to create a service that is currently lacking in India. We are currently in the beta testing phase and learning everyday through our users who transact with us and many others who contact us to know more about Bitcoins.

You didnt reply to him here: https://bitcointalk.org/index.php?topic=1499333.20 for a long time which can lead to people making assumptions and you did not post anything on here as well to defend your website: https://bitcointalk.org/index.php?topic=1615961.0

To clarify, i'm not saying your website is definitely a scam but it was apparent from the forum posts at the time.

[pavaya66]

Hi,

I've been seeing that cryptocurrency is used again and again for scams against Indians in this forum, outside and in the real world.

We can see trybitcoin.in and scams like that being actively promoted
We can see MLM scams being promoted like gainbitcoin and powerhashing
We can see coins like Mudra coin ruining India's name in the bitcoin community here
We can see people selling miners with false claims for exorbitant prices
We can see other forums like Quora being used to promote MLM and ponzi schemes
We can see in real life people being scammed to start investing in false cryptocurrencys.
Yet the educated cryptocurrency community here does very little.
i



Posts which are promoting sites such as trybitcoin.in should be flagged, trust should be negative and their posts should be removed.
Any allegations against coins (mudra, trestor) should be taken seriously and their teams should come up with relevant and responsible replies.
We should have pinned posts and posts with lists of scams as well as guides for new people to cryptocurrencies, informing how to find if a coin is a scam and a list of verified scam coins/sites as well as a guide on ponzi schemes
Coins like Mudra should be scrutinized and reported as soon as it is posted!

For Quora, I found that specially these two Indians are dedicated completely to get people into Ponzi schemes and they then get referral money - and they do it from highly educated individuals.

https://www.quora.com/profile/Shishir-Gupta-64
https://www.quora.com/profile/Asma-Khan-47


Here are some scams from those two troublemakers on Quora - and look at the comments - people actually believe them and lose money!

https://www.quora.com/What-are-the-biggest-mistakes-youve-made-in-your-career-development-or-job-choices/answer/Asma-Khan-47?srid=tno3 - when she said Hashocean is the best
https://www.quora.com/What-are-some-of-the-Indian-Scams/answer/Asma-Khan-47?srid=tno3 - now she says its a scam
https://www.quora.com/Is-cloud-mining-of-bitcoins-or-other-crypto-currencies-a-scam/answer/Asma-Khan-47?srid=tno3 - now wants ref money from genesis mining
There are much more, look at her profile: https://www.quora.com/profile/Asma-Khan-47

Take a look at Shishir too:
https://www.quora.com/How-can-I-earn-huge-by-mining-bitcoins-at-home-using-my-own-hardware - Endorsing Asma
https://www.quora.com/What-is-business-to-do-with-1lakh-or-below-capital - Promoting Genesis with ref code
He even made a video endorsing hashocean: https://www.youtube.com/watch?v=oXk9jFIn4gg


And they dub themself as research scholars on Bitcoin

Lets create a healthy cryptocurrency community here

yeh there is lots of scams over here,,as i found ONE coin and wow coin are not safe nor better for investment ,even they dont have any open system information.

[buxlover]

I think no one can stop scams by listing the scammers profile or website, Scams will be avoided only when people not greedy and have a bit commonsense whether such offer is possible.

Few months back i was contacted by person in whatsapp through LBC and offered higher amount than the current price of btc to buy from me. i asked for his profile in Lbc, he gave me a link of some other profile, i messaged him in LBC and asked him to reply that message from LBC which he was not able to do. Now i don't remember his name or his number, so what if i publish those details he wold just buy a free sim and change his number and start again.

So listing out doesn't help much in avoiding scams

[bitcoinisbest]

Thanks for providing the details along with the link which will help the newcomers to go through it and not to follow such posts

[trybitcoinin]

Hi Manav1112,

Thank you for bringing those forum threads to our notice. Unfortunately, we missed these threads as we were not very active members of this forum and were focusing more on the development of our service platform.

We have now replied to these threads and will continue to be an active member of this forum adding value to the bitcoin community.

[philiveyjr]

I think no one can stop scams by listing the scammers profile or website, Scams will be avoided only when people not greedy and have a bit commonsense whether such offer is possible.

Few months back i was contacted by person in whatsapp through LBC and offered higher amount than the current price of btc to buy from me. i asked for his profile in Lbc, he gave me a link of some other profile, i messaged him in LBC and asked him to reply that message from LBC which he was not able to do. Now i don't remember his name or his number, so what if i publish those details he wold just buy a free sim and change his number and start again.

So listing out doesn't help much in avoiding scams

The person you are referring to has already contacted a lot of us. Kind of an easy scam to catch, but you can check the Marketplace or exchange section to know more about the scam.

[@prashant]

"Scam scam everywhere ,not even a single place left"
 
I recently seen many article and scam post in many thread.india being one of most populated country with less knowledge of digital technology(talking account of india) is open to this scam activity.
So beware

[bitbibit]

"Scam scam everywhere ,not even a single place left"
 
I recently seen many article and scam post in many thread.india being one of most populated country with less knowledge of digital technology(talking account of india) is open to this scam activity.
So beware

Dear Prashant,

Kindly read all threads carefully and then post comments, so far all scams you see are only coming from Local bitcoins and its users. As per the existing Indian exchanges they are all seeing high volumes of users so together they are working really hard to accommodate the excessive demand of bitcoin with the country going through the demonetization phase. Kindly comment here only if you were scammed personally and post some evidence to back your argument.