bitcoin use in pyramiding scam?

[Petmalu001]

Actually there many peoples they did not understand what is pyramid scheme is the process of adding extra individuals into a select network for the

financial gain of the existing participants. A pyramid scheme is only sustainable by the continued input of suckers and their money to then be distributed.

This is the product, nothing more than the sizzle of incoming money. unfortunately, Bitcoin has a plus 1 element, and tends to trigger the “PONZI RUN!”

rhetoric. There is shades of a Pyramid schemes in Bitcoin. Though, do not confuse Bitcoin for a Pyramid scheme.

[ahmadakbari]

Some cryptocurrencies and ICOs, YES. But bitcoin, NO.
A system is pyramid when you earn money via inviting others to that system and promise them for future earnings. There are many scams ICO using these system.
Bitcoin is not a scam. You don't make money when invite some one to invest in bitcoin. It causes the demand to be higher and make the price higher indirectly. But it different from a pyramid scheme. If bitcoin is a pyramid scheme, so gold and stock market are pyramid too.

[target]

Some cryptocurrencies and ICOs, YES. But bitcoin, NO.
A system is pyramid when you earn money via inviting others to that system and promise them for future earnings. There are many scams ICO using these system.
Bitcoin is not a scam. You don't make money when invite some one to invest in bitcoin. It causes the demand to be higher and make the price higher indirectly. But it different from a pyramid scheme. If bitcoin is a pyramid scheme, so gold and stock market are pyramid too.

They are talking of something else but using btc to pay the referrals and the invites. Its the same thing, criminals are caught specially here in our country. Bitcoin in my country are very well used and its becoming known even the regular people who only knew facebook are using bitcoin app as they like to earn btc.

[BrewMaster]

Some cryptocurrencies and ICOs, YES. But bitcoin, NO.
A system is pyramid when you earn money via inviting others to that system and promise them for future earnings. There are many scams ICO using these system.
Bitcoin is not a scam. You don't make money when invite some one to invest in bitcoin. It causes the demand to be higher and make the price higher indirectly. But it different from a pyramid scheme. If bitcoin is a pyramid scheme, so gold and stock market are pyramid too.

OP is pretty vague but i don't think he meant to say bitcoin is scam. he was trying to say bitcoin is used in scams like pyramid schemes. and he is right about that part only. bitcoin like any other currency is used in scams on top of being used in a lot of other legit things.
i still don't get the point OP was trying to make though!

[amishmanish]

i still don't get the point OP was trying to make though!

You need to improve your comprehension skills to meet the demands of globalized English and decentralized bitcoin. We won't improve our usage. Mind it..LOL!!

To the OP, we all hate pyramid schemes. Especially when seemingly smarter people decide to take advantage of the naivete of their fellow poor people in developing countries rather than help them.
Everyone wants a secure way out of their impoverished lives and the promise of quick returns attached with the tag of "bitcoin" and "cryptocurrencies" is too alluring for many. All we can do is educate people when you come across one of these and hope for the best..

[paul00]

Nowadays, we all know that there are a lot of people who would take advantage of whatever is in demand. Since Bitcoin has been known to have hit a price previously, scammers had took advantage of it and fooled innocent people where they should be punished because Bitcoin and cryptos are not designed to be used for the illegalities.

[justine11]

Sadly but it is true bitcoin is used on pyramiding scams ponzi schemes if you a join in a group discussing about bitcoin, you will always see ads posting like this "2×4" matrix and you will always see the proof of payout which is fake and person holding a money like a bitch but i still don't get it why people still joining on those kind of scams.

[BountyX]

Also dollars, euros and probably every single existing currency has been sooner or later used in some pyramidal scam, so what? Money is money and there are people who use it in a legit mode, and others don't. Nothing more than that.

[noriksiayol]

It is very possible to happen that there are people use bitcoin as a pyramiding of scam, and it is only the management of bitcoin can only make a direct actions on any crimes that acts by people which they used the bitcoin name, because it could make a destructions on the credibility of bitcoin. And also to the people who enters on this particular business, we must careful and aware on any scammers.

[KesoNie]

It is very possible to happen that there are people use bitcoin as a pyramiding of scam, and it is only the management of bitcoin can only make a direct actions on any crimes that acts by people which they used the bitcoin name, because it could make a destructions on the credibility of bitcoin. And also to the people who enters on this particular business, we must careful and aware on any scammers.

I am sure that many of us want a money that instant, means you need only to invest and then wait. But in the end it's only lead to scam. Pyramiding scam is one of the way that you can earn fast, but many if doing it is just a scam. Like in my country.last night, they have news about the bitcoin scam. It is sad that bitcoin have an bad image again.

[abelmon66]

It is true that many people who want to get rich quickly follow Ponzi pyramid system, and that is a very big mistake and trade is a very good way to get rich wealth.

[WaffleMaster]

Bitcoin is only popular today because of the acceptance from black markets in using it as a currency to avoid authority and launder money. To say otherwise is patently false, and even the CEO of Mt. Gox now has said that after the addresses of Silk Road were leaked, the data suggests that at least 30% of all trade volume was in some way related to Silk Road. Just one piece of the black market back then.

I agree that people shouldn't be harming others or committing crimes, but cryptocurrency and really any cash currency allows it. It is not biased what it is used for.

[DyllanGM]

bitcoin use in pyramiding scam?
there's a lot of people willing to get a money in just a blink of an eye..but using bitcoin in scam is not as good a many others say, some of them willing to take advantage of the weakness of person who had get tired of being poor,dont be so sure of what you do..when you want to get rich you should be a hardworking person.
BITCOIN is a digital currency,dont even use it in scam or in a wrong way get more of it.

This is because of the very less information drive of bitcoin that some people took the advantage to those who are ignorant of it. I think there had been 2 cases in I saw in the news that bitcoin was used as an exit for an investment scam and it is so sad for those who are earning honestly in bitcoin.

[rhea1715]

These past few months there's a lot of people who was caught of making bitcoin involved in pyramiding scam. They tell the victim that they can easily earn money if they invest in bitcoin through them, they collect and collect the money of their victims and then that's the time they will run with the money they collected. If only people are not so ignorant and atleast learn some things about bitcoin, they wouldn't be a victim.

[Oasisman]

bitcoin use in pyramiding scam?
there's a lot of people willing to get a money in just a blink of an eye..but using bitcoin in scam is not as good a many others say, some of them willing to take advantage of the weakness of person who had get tired of being poor,dont be so sure of what you do..when you want to get rich you should be a hardworking person.
BITCOIN is a digital currency,dont even use it in scam or in a wrong way get more of it.

This was the reason why the bias media gave negative impression and generalized Bitcoin as a new form of scam. This was also the reason why theres a huge cryptocurrency adaption problem in my country. But atleast as the time passes by,  people slowly learned about this new technology and start accepting and embracing the decentralized idea.

[smyslov]

bitcoin use in pyramiding scam?
there's a lot of people willing to get a money in just a blink of an eye..but using bitcoin in scam is not as good a many others say, some of them willing to take advantage of the weakness of person who had get tired of being poor,dont be so sure of what you do..when you want to get rich you should be a hardworking person.
BITCOIN is a digital currency,dont even use it in scam or in a wrong way get more of it.

This is a new trend now, they used to use paypal and other traditional payment processors but since Cryptocurrency is anonymous they turn to cryptocurrency and many people have set up and joined this kind of program, it's not the program but the people behind it are to blame for this .

[NathanJB]

bitcoin use in pyramiding scam?
there's a lot of people willing to get a money in just a blink of an eye..but using bitcoin in scam is not as good a many others say, some of them willing to take advantage of the weakness of person who had get tired of being poor,dont be so sure of what you do..when you want to get rich you should be a hardworking person.
BITCOIN is a digital currency,dont even use it in scam or in a wrong way get more of it.

The number reason why a lot of these scams using Bitcoin went successful is that people are in a hurry to get rich. People tend to be greedy. They are also lazy because they do not even care to check the background of the investment they are entering into. They are not even making sure that these investments are for real. They always want everything to come to them fast and easy. In the end, they all became victims of these equally lazy scams.   

[Dudeperfect]

Well, those who have read the white paper have the idea of what Bitcoin is all about. Bitcoin is a payment system in the first place having some more benefits as compared to that of the traditional payment system. However, it is different from that traditional system and there is lack of maturity in the market and scammers are exploiting this fact and defaming Bitcoin through their actions. Bitcoin is not a scheme, it's a philosophy that upholds the right of freedom through decentralization.

[digaran]

however bitcoin will be attacked, because of its energywasting nature, and because there will be many better alternatives

Are you interested in an alternative which is not wasting any energy and is very cheap right now? activity token.
Being easy to mine, I could use my laptop to mine. I used my laptop to issue my token, nobody is buying them.

when you want to get rich you should be a hardworking person.
BITCOIN is a digital currency,dont even use it in scam or in a wrong way get more of it.

Tell that to some people here. prepare yourself to be verbally abused as well.

[karramov]

In Russia, there was a man who showed what a pyramid is and how it works. But people do not understand much and still think that it will make them rich. Now a lot of Scam projects - then there are those who invest in them. a kind of balance.