PONZI SCAMS ARE STARTING TO RISE

[Indamuck]

People will always fall for ponzi scams, they say a new sucker is born every minute.  The allure of fast money is too strong for most people and they can't resist.  Also a lot of people participate it ponzi scams knowing that it is a scam but they still hope to make money off the new suckers.  No one is safe, Bernie Madoff was able to trick wealthy people with high education.

[Juggy777]

People will always fall for ponzi scams, they say a new sucker is born every minute.  The allure of fast money is too strong for most people and they can't resist.  Also a lot of people participate it ponzi scams knowing that it is a scam but they still hope to make money off the new suckers.  No one is safe, Bernie Madoff was able to trick wealthy people with high education.

While I agree scams are increasing day by day, but we can take some precautions to prevent them. I always recommend find recent history of the person you're trading with, is he trustworthy or not. Then always use escrow on this forum, and never take PayPal for cryptos unless that member is a old and known member. Last but my favourite, if it's too good to be true it's a scam till proven otherwise.

[capcaypro]

Fraud will always be there, and it is well utilized by some professional fraudsters, and this happens a lot in the crypto world. This is what makes a bad image of crypto and of course influences someone's confidence in crypto.

[Deallove9]

This is why many will never get in to bitcoin or have anything to do with it cause many have used this bitcoin to scam so many noobs due to it popularity and it potential to get high return , most especially the Asia side like you mentioned , I have known that region for scam and ponzi and nothing more they are the same set that used to post all sort of things , and it is all greedy and they are giving bad reputation to crypto and block chain but those who follow right channel will surely win .

[Nissan-GTR]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

I agree with this, and sadly those scammer were also a filipino, they use the name of Bitcoin and its potential to attrack possible people they can have to give some information regarding these things, and here we all know that Philippines were not as the other country and up to now Bitcoin was not that very popular which may be use by the people to scam other and using its potential as a key to gain profit for themselves and run.

[udidrone]

Fraud will always be there, and it is well utilized by some professional fraudsters, and this happens a lot in the crypto world. This is what makes a bad image of crypto and of course influences someone's confidence in crypto.

So it is our job to educate people, so they not jump into ponzi scheme or fraudster that can make them loss their money. But the problem is, some other people only want to get money faster without do hard work, that can make ponzi scheme still a lot.

[Jose Rizal]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

I agree with this, given that Bitcoin is starting to gain popularity again since the currency price is slowly taking its place now. Speculating 2019 will be a great year for everyone,  we are very aware of the things that happened in Bitcoin this 2018, and sadly it wasn't desirable thing that we are expecting, and scammers were also updated they were just looking for some prey to attack.

[seoincorporation]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

I agree with this, and sadly those scammer were also a filipino, they use the name of Bitcoin and its potential to attrack possible people they can have to give some information regarding these things, and here we all know that Philippines were not as the other country and up to now Bitcoin was not that very popular which may be use by the people to scam other and using its potential as a key to gain profit for themselves and run.

But this isn't only a problem for Philippines, we can find Ponzi all around the globe. Some local friends (in Mexico) told me they were investing in bitcoin, but their broker told them to better invest in OneCoin, he say that's better than bitcoin. If you go to google and search one coin you will see how it's a clear ponzi. Even wikipedia says it. So, the first rule to not fall into ponzi is to understand the easy money doesn't exist.

[oh brame]

sad to hear...we should create some awareness about bitcoin and their working so people should educate about bitcoin....so many ponzi scheme started ruining the bitcoin reputation

[erikoy]

Well too bad but it is really true and i can attest to it because i myself came from Philippines. it is really indeed a bad reputation for bitcoin here in our country and this is not the only news that came out about bitcoin scam accusations. There are huge money involve like 900 million of Philippine in a one scamming activity that uses or involve bitcoin.

[thankyoulord]

well this is not the first time we are seeing ponzi scams which promises huge returns. we just have to be careful with what we put our bitcoin and money into

[andika2018]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

Its happen in my country too. They inviting people with no knowledge about cryptocurrency to invest and they scam them. Its hard to stop this, because most people interesting with gain they promise. We should give knowledge to people about cryptocurrency because people will think crypto is a scam

[wewe123]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

Its happen in my country too. They inviting people with no knowledge about cryptocurrency to invest and they scam them. Its hard to stop this, because most people interesting with gain they promise. We should give knowledge to people about cryptocurrency because people will think crypto is a scam

As of now that the market is at falldown ,the Ponzi scheme is now active to invite investors while the market suffer so much price value of coins , they are starting to divert some investors while the market is quiet because of this dslldown season of the market.

[gabbie2010]

I was still surprise that some people are still victim of fraudulent activities of ponzi scheme or Hyips who uses all of sorts of tricks and gimmicks using bitcoin to scam investors using a large percentage of interest on investment on daily basis, once they have collected funds they will disappear into thin air and carting away investors funds its really sad that some  people still fall for subtle way of scam that is why this forum has a zero tolerance for hyips

[Pattart]

People will always fall for ponzi scams, they say a new sucker is born every minute.  The allure of fast money is too strong for most people and they can't resist.  Also a lot of people participate it ponzi scams knowing that it is a scam but they still hope to make money off the new suckers.  No one is safe, Bernie Madoff was able to trick wealthy people with high education.

I think the old users are getting smarter, can distinguish between ponzi or not and know the risks too, even though the more ponzi it
will not affect to them. but for early users they need to know more about ponzi, because they might be mired in it..

[swiftbits]

They're probably staying in a wrong platform for finding an investment program, social media account can be faked so fraudsters took advantage on it by making a real looking accounts and fool people in many social media sites. This can surely affect the image on Bitcoin and Cryptocurrency, some might stop using it after buying the first time.

[nutildah]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

That's a pretty sad story... I guess the victims didn't know that coins.ph doesn't pay "interest"? A few months back I noticed on Facebook there was a flood of groups using variants of the name "Coins.ph Users" and so forth that were all just places where scammers could promote their telegram bots / cloud mining programs / ponzi schemes.. And you had loads of people commenting "Paano?" (how?) or "Still paying?" or "Legit?" It's like no man, none of them are ever "legit." People are tripping over themselves to join up with the next scam. Why can't people learn?

A lot of them have been shut down but new ones pop up in their place every day.

But this isn't only a problem for Philippines, we can find Ponzi all around the globe. Some local friends (in Mexico) told me they were investing in bitcoin, but their broker told them to better invest in OneCoin, he say that's better than bitcoin. If you go to google and search one coin you will see how it's a clear ponzi. Even wikipedia says it. So, the first rule to not fall into ponzi is to understand the easy money doesn't exist.

Sounds like an awful "broker"! How could somebody be a professional money person and not know how to recognize a Ponzi?

[smyslov]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

Writers of those articles are ignorant about Bitcoin and blockchain, I am a follower of GMA news agency, they do give us transparent news but when it comes to this kind of news they tend to deceive people about this technology, they are so one-sided.

[Kakmakr]

These Ponzi scheme operators just shift their operation into other countries, when the market gets wind of their actions or when the market gets saturated. Once the influx of new capital are dwindling, they just perform a quick exit strategy and they shift to a new country.

Ponzi schemes need a continuous influx of new capital investments to pay the people who entered the scheme first and once that stops the whole scheme collapse. 

[Wildwest]

Here in the Philippines, there's a rise in ponzi scams by using bitcoin to attract potential victims and it gives bitcoin a bad reputation. Many people are easily fooled by this scams because they are promised of a big return of investment when they invest on some people. I REPEAT, not on bitcoin BUT ON PEOPLE. Here a sample link:

http://www.gmanetwork.com/news/money/content/649487/more-bitcoin-scam-victims-surface-claim-billions-in-losses/story/

#From GMA News Site (Legit News Agency in the Philippines)

I don't know why people are so interested in this ponzi scheme. Even though they are given a lot of benefits without doing much, the end of this scheme is to do a scam. Usually this scheme does not last long.