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 After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.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