Bitcoin: Exposed?

[BitPlace]

A documentary here in the Philippines entitled: FAILON NGAYON have exposed Bitcoin as a type of scam.
It goes like this: a callcenter agent guy invested on one of the sh*tcoins here. He invested a fair amount of money into it as a promise projection of 50% gain for about 3 months. After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.
Financial analyst said that bitcoin is being used by some scammers to phish for money from users through untrusted sites.
I think that due to anonymity, it is very hard to track down those people who uses bitcoin for scamming.
For me, I think you just invest amount ofnmeny that you can afford to lose. Secondly, just transact with secured sites and not fall for get rich quick schemes because most likely thisnis a scam.
What are your thoughts on this?

I’m sure people can come up with scams that include Bitcoins or altcoins but that’s not an implication on cryptocurrencies. People can scam you with any kind of money and they do it all the time. If anyone promises a certain gain over a period of time, then they are scamming you. They can’t make those kinds of promises.

The sad thing is that as people use Bitcoin in scams, it can affect Bitcoin’s perception as we have seen when people claim that Bitcoin is used for illegal activities. This can affect Bitcoins price and acceptance in a negative way.

Yes you are right. There would be a big possibility that because of the featured scene on one of the TV programs, people would definitely think that bitcoin is a scam and it could be so hard for them to believe that it is legit because of what they saw and heard on TV. That call center agent who exposed bitcoin as a scam was careless because he didn't check many reviews of that site before investing. He should have be mindful that there are some people scam using bitcoin and not just using bitcoin but scammers can use anything just to scam other people.

[eaLiTy]

That call center agent who exposed bitcoin as a scam was careless because he didn't check many reviews of that site before investing. He should have be mindful that there are some people scam using bitcoin and not just using bitcoin but scammers can use anything just to scam other people.

People who are not aware of bitcoin or just heard about bitcoin will find it confusing and might think as a scam while seeing these kind of reports published by people who does not have the time to learn and understand what bitcoin is and made a fool out of this entire thing and now he is blaming bitcoin for his foolishness .

[francis2]

I don't feel it's a legit reason. There's plenty of scams going involving cash or credit card fraud for example.

Get used to it politicians are very good at twisting the facts they are going to try to scare people away from bitcoin saying that only criminals use it and they are going to try to give tight restrictions to bitcoin because of it.

[Nasty23]

That call center agent who exposed bitcoin as a scam was careless because he didn't check many reviews of that site before investing. He should have be mindful that there are some people scam using bitcoin and not just using bitcoin but scammers can use anything just to scam other people.

People who are not aware of bitcoin or just heard about bitcoin will find it confusing and might think as a scam while seeing these kind of reports published by people who does not have the time to learn and understand what bitcoin is and made a fool out of this entire thing and now he is blaming bitcoin for his foolishness .

Yes they didn't have an enough time to study bitcoin that's why sometimes they make a wrong decision that going to invest in the scammer. Study is the best way to do before entering the investment because you are trusting that this investment can be able to give what you are looking for and you didn't feel any regret for the money that you invested because they provide a good security and platform for everyone of the Investors.

[raliyat]

Yesterday in India I saw the news arguing about bitcoin in the member of parliament what is the security about the bitcoin users in India, The finance minister replied that in India Bitcoin will remain illegal only and about the security of the users no going to support for illegal thing. So as a new member it make me to think about it.

[Pumapipa]

Bitcoin through the years in this digital age, have been used by these scammers to get money. they ride onto bitcoin's popularity to convince the so called investors to put in shares. Little did these period know that bitcoin is like any other currency that you use for trade. I guess this will serve as a lesson to all to never be gullible especially when in comes to money.

[KrishaBitcoin]

A documentary here in the Philippines entitled: FAILON NGAYON have exposed Bitcoin as a type of scam.
It goes like this: a callcenter agent guy invested on one of the sh*tcoins here. He invested a fair amount of money into it as a promise projection of 50% gain for about 3 months. After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.
Financial analyst said that bitcoin is being used by some scammers to phish for money from users through untrusted sites.
I think that due to anonymity, it is very hard to track down those people who uses bitcoin for scamming.
For me, I think you just invest amount ofnmeny that you can afford to lose. Secondly, just transact with secured sites and not fall for get rich quick schemes because most likely thisnis a scam.
What are your thoughts on this?

Indeed, Bitcoin is not a scam but the bad people who use the Bitcoin platform to steal from the people is the scam so if fiat currency was also used in some illegal activities so it was the same for Bitcoin as it was a currency too. So anywhere in the world specially if Bitcoin is not legal we should be extra careful when joining an investments that will use Bitcoin platform.