Bitcoin: Exposed?

[moanamakeway]

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 After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.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?

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[russianjohhny]

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 After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.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'll say so scammers were everywhere. but he had to understand that bitcoin is the next pyramid. And if not now, he would have lost his money in the future. I hope after that, the Philippines will also go to the ban of bitcoins and it will fall in price and popularity.

[congresowoman]

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 After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.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'll say so scammers were everywhere. but he had to understand that bitcoin is the next pyramid. And if not now, he would have lost his money in the future. I hope after that, the Philippines will also go to the ban of bitcoins and it will fall in price and popularity.

Be wise in investing! Soon bitcoin will shutdown because countries will be banning the use of it. Scammers and hackers will make the name of bitcoin go to waste. It is you scammers who put bitcoin down! Get lost! Let us switch back to ETh instead.

[Gozie51]

My thought is that at the end of your epistle, you made a conclusion by yourself by encouraging not to invest in scam sites, not to invest what you can't afford to lose.

As for bitcoin, you understand that this is the kind of news you will hear while people keep getting rich via same bitcoin.

[Hexah]

Hello, I am from Philippines too and not thinking about the same way if you are that vigilant to where you imvest your money, maybe he is careless not to think if that company really pays or not. I don't really like on how they feature it but if they focus on the positive side on bitcoin they would know how it goes and what future lies in through it. So be wise where you put your money.

[miyaka26]

That Ponzi schemes also happens to a fiat money investments, just because it is new and digital they've announce that bitcoin is a scam without a proper research and understanding how it really works, it is not scam we've done through that on the days were it is still starting, where in the era of bitcoin is a bubble based on some media and banks but it is not true, I'm also upset that they did not say the positive side of the btc. I understand that they did this because they want the people to be aware but they did not elaborated the topic properly that it is the investments scheme is the scam and not the bitcoin itself.

[LogitechMouse]

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?

Its not the fault of the bitcoin itself but the investor. He didn't research about the company he joined and just invested there. Its obvious that its a HYIP scheme 50% in 3 months without doing anything. He didn't think of it and just throw the money away. Its his fault. Be wise in where you put your money next time.

[plaintiff77]

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?

My own point of view, you just have to be vigilant enough not to be tricked that way. Someone used it to those not legit site and that is the main reason why he considered himself as being scammed. Bitcoin has great purpose if you do it in a good way though. We must not create a hole where in we can have doubts

[AT101ET]

If you look in your email spam folder you will also find plenty of phishing attempts that all deal with FIAT. The issue here isn’t Bitcoin per day but rather dishonest people trying to find creative ways of robbing people of their money. Crooks always exist and you have to be diligent when it comes to these scams regardless what payment methods are used. Painting Bitcoin negatively because of it is just inaccurate.

[tobs]

It's like saying us dollar has been exposed because of many scams happening with this currency. The same goes with all the talks about bitcoin being used heavily for illegal activies and should be therefore banned. The biggest crimes so far with all the drugs, mafia and gangs have happened using dollars and no one thinks of it that it's the fault of the currency. Bitcoin offers that kind of anonimity that may be convenient to pay for illegal things, but paper money like dollar bills also would be hard to be traced.

[exstasie]

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.

None of this has anything to do with Bitcoin. There are plenty of scammers that have attempted to exploit the hype around Bitcoin to perpetrate their scams, but that is no fault of Bitcoin.

And yes, some hackers/phishers use BTC. And before BTC, they used dollars, flipping stolen credit card numbers and carded gift cards. They still do. And now they use altcoins like Monero, too. So this FUD about association with crime is unfounded, unless we are going to deride all forms of money (including fiat money) for the same reason.

[GideonGono]

I think what it is trying to say that Bitcoin can also be used in scamming which is true. Despite of having a public ledger, the information of the address holder can be anonymized (fully). If you had watched ANC, regarding the interview of the BSP's head (I think) they tackled Bitcoin and they can easily construct the set of law tp be passed in the Congress since they know what should be implemented.

Continuing with this line of thought, it is trying to imply that Bitcoin can be used to commit crimes such as money laundering and etc but the fact still remains that it some ways it helps other people to earn money conveniently and the opportunity it is trying to give us can help their citizens. It just needs a proper law and department to protect its citizens away from harm.

[13abyknight]

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?

Didn't understand the whole idea of calling out Bitcoin to be a scam while it was his own mistake that he invested in the wrong project without any prior research about the project itself. In my opinion, Bitcoin has a prototype where the amount of profit you make is directly proportional to the period of time you hold onto it so you could call it a get rich fast' scheme with very less limitations.

[Sadlife]

First of all that was not bitcoin because as you have said he invested into some type of new token or ICO without knowing what really it is or doing some research about it that's why he got scammed. And second of all the media documenting it, was telling people false information i think they should tell people that investing in some unknown digital currency is quite a risk and also third party sites that lets you earn passive income is nothing but ponzi scheme. If want to invest in crypto currency buy bitcoin directly and hold it.

[FrueGreads]

My thought on this? Is that you should change the title in the thread.
What you are "exposing" here, is just an unfortunate, but quite common scam, that is used both in crypto in general, as well as fiat. It's not related to bitcoin in particular. Yes, it was made with bitcoin (actually an ICO, although you said he used BTC to invest in it), but it could have been made with anything else. Bitcoin is not a scam, is not a ponzi, or pyramid scheme.
Regulation is needed, and it will help people to be more confidant when investing in bitcoin, but it will not stop scams. We see people getting scammed in fiat HYIPs everyday. Does that expose fiat? Are people protected by HYIPs? Is it easy to track them? It's not, so scams will continue to exist, and we can't blame bitcoin for it.

[yamortsac]

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?

Its not the fault of the bitcoin itself but the investor. He didn't research about the company he joined and just invested there. Its obvious that its a HYIP scheme 50% in 3 months without doing anything. He didn't think of it and just throw the money away. Its his fault. Be wise in where you put your money next time.

I agree with you, bitcoin is nothing to do with it. Investor should know first the person or company he is dealing with, if it is legal or not. If the investment is too good to be true then think wise and be careful. And scamming is not only happening in digital currency but also in fiat or paper money.

[joseafonso123az]

You can find people scamming like this even for fiat currencies. And well, for shitcoins you have to be more careful where you are investing because you can   end up losing a lot of money in shitcoins scams. They all seem attractive, but then fail to deliver whatever it is entitled to! But this shouldn't decrease or have any negative effect in BTC, because this kind of poor actions happens everywhere!

[Lancusters]

It seems to me that OP is a stupid person who summed up his greed. Scammers always use this human weakness. What's bitcoin? This topic should be called "I'm a loser". But it is possible that this error was intentional. This theme was immediately picked up trolls. Maybe it's the strategy of opponents of bitcoin to discredit him.

[jjacob]

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?

You invest in a scammy altcoin and say that Bitcoin has been exposed? That is pretty laughable, if you ask me. Next you might say that the internet (or telephone) is a scam, because the scamsters contacted the victim through a phone call / the internet.

[fanbeila]

Bitcoin has nothing to do with his loss.Its his fault to trust unverified websites and invest in it.Bitcoin is a decentralized currency and no one could control or influence your money invested in bitcoin.It would be better that those people who don't understand bitcoin just stay away from it and stop giving such silly reviews about bitcoin.

Bitcoin acceptance has already gone world wide and it is said that even some of the wall street people don't want to miss the opportunity of earning from bitcoins for just the reason that they work in wall street companies.

So just stop blah blah blah.