BitCoin Scamming Business is Booming!

[franky1]

Unfortunately, Bitcoin is an excellent medium for scaming.

NO

all money is equally excellent medium of scamming, just bitcoins rarity makes it more desirable.

its not about ease of scamming..... think about it
theres fiat bank notes, no consumer protection
theres bank regulations that supposedly protect people from losses
theres paypal with their ssl connections and encrypted databases.

YET

people still get scammed by chargeback scammers and the victims have no recourse.

the only lesson to learn is that bitcoin is YOUR funds. do not blindly trust someone you cant slap across the face with a wet fish

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[Bitcoinpro]

Unfortunately, Bitcoin is an excellent medium for scaming.

NO

all money is equally excellent medium of scamming, just bitcoins rarity makes it more desirable.

its not about ease of scamming..... think about it
theres fiat bank notes, no consumer protection
theres bank regulations that supposedly protect people from losses
theres paypal with their ssl connections and encrypted databases.

YET

people still get scammed by chargeback scammers and the victims have no recourse.

the only lesson to learn is that bitcoin is YOUR funds. do not blindly trust someone you cant slap across the face with a wet fish

A good example would be leaving "bad feedback" if the purchase is not large enough to warrant the option of insuring your BTC with paypal (ie when they get around to implementation)

[ShintoshiBTC]

When there is something to scam for then there will always be scammers. Even religion is "scammable"..

[SquallLeonhart]

Unfortunately, Bitcoin is an excellent medium for scaming.

NO

all money is equally excellent medium of scamming, just bitcoins rarity makes it more desirable.

its not about ease of scamming..... think about it
theres fiat bank notes, no consumer protection
theres bank regulations that supposedly protect people from losses
theres paypal with their ssl connections and encrypted databases.

YET

people still get scammed by chargeback scammers and the victims have no recourse.

the only lesson to learn is that bitcoin is YOUR funds. do not blindly trust someone you cant slap across the face with a wet fish

Bitcoin is still a better way to scam as it is much harder to track. You wouldn't want to give someone your bank if you are trying to scam him..

[blackbird307]

It's not hard to track someone using bitcoins.

[tzortz]

What do you mean?

[drippx]

Scamming is probably done by 1-2% of the people compared to 99%, its just it gets posted alot it feels like its rampant

[leannemckim46]

Unfortunately, Bitcoin is an excellent medium for scaming.

NO

all money is equally excellent medium of scamming, just bitcoins rarity makes it more desirable.

its not about ease of scamming..... think about it
theres fiat bank notes, no consumer protection
theres bank regulations that supposedly protect people from losses
theres paypal with their ssl connections and encrypted databases.

YET

people still get scammed by chargeback scammers and the victims have no recourse.

the only lesson to learn is that bitcoin is YOUR funds. do not blindly trust someone you cant slap across the face with a wet fish

You are correct to say that there are other types of scammers out there that are able to scam. The thing about these kinds of scams is that it is generally very difficult to pull off these scams without others knowing your identity, so you could get prosecuted/sued for your scam. With bitcoin on the other hand it is much easier to hide your identity as you can easily move your money around in a way to disconnect your bitcoin from your scam. Also a higher percentage of bitcoin related sites accept connections from TOR exit nodes so your IP address would likely be unknown to your victim. And lastly it is generally accepted to keep your identity secret when dealing with someone in the bitcoin world when otherwise people would almost certainly not be willing to do business with you without knowing your true identity.

[awesome31312]

I'd rather get scammed by another user than robbed of my money in a pathetic, helpless way like how Paypal does it, first by generating revenue from all these absurdly high fees, then of course, the old chargeback scam.

[counter]

Unfortunately, Bitcoin is an excellent medium for scaming.

I think what you meant to say or in my opinion should have said is, "Too bad the average person doesn't do enough to secure their money and is a target for scamming".  Just like anything else people will be targeted for scams if the scammer feels their targets have something of value they want. 

[campycoin]

Well, I agree with most posts here and believe me, people in all walks of life are running scams.  Even PayPal is a contributor to these. I made a mistake of trusting a guy in person to pay me PayPal for BTC. He paid and on my account it said HOLD by PayPal. So I told the guy I wasn't sending his BTC and he said "Hold on, let me call them." 

He got on the phone, called PayPal, talked for 30 seconds and said "Okay, they are going to release it."  Within a minute the hold was lifted and so I sent his btc and all was great.

Four days ago, I get a notice and the entire $575 pulled from my account. PayPal claims the customer filed a "Unauthorized Transaction."

I've been so upset writing PayPal and calling them and they will not budge because they say I was providing a service (what the story was of course, if you say btc... bye bye account) and that I am not protected under their rules.  I keep shouting that the customer is claiming unauthorized and I SAW HIM CALL YOU AND YOU RELEASED THE MONEY or I would never have performed the service. PayPal is the one who "allowed" the unauthorized transaction and I am even saying, "So Paypal, you're admitting to allowing an unauthorized individual to call you and release this mans money to me?" And then they took it back leaving PayPal (who made a wrong here or is allowing blatant lies) to get off with no loss. Allowed the scammer to make out with a bitcoin and the owner of the account (whether it was the scammer or not) to be unharmed and me as the person out $600.

This is the kind of bullshit that makes me sick.  Everyone knows me as the Michael Moriarty hater and many have probably seen http://antilyze.com and http://scamfindr.com because I am trying to do something about this. I also have a campaign at Indiegogo at http://igg.me/at/noscam which I may nee to re-activate but the fact of the matter is that bitcoin is inviting a new type of scam and I agree with the person who said that the problem is anonymity.  I believe in anonymity like everyone else here. If I want to send my sister in San Francisco $1000 it is absolutely NOBODY's business. That transaction should be anonymous. The problem is, that a few companies and sites (oh maybe coinchimp.com, bitplastic.com, bitspeculate.com, bitlaunder.com) and many others have lured customers in by promoting and talking about their belief in anonymity and facts are facts... if the owner of a business will not give you their info, they are doing something illegal and they will steal from you.

So, here is my clear-cut guide to using bitcoin.

DO NOT PAY ANYONE FOR ANYTHING UNLESS YOU TRUST THAT PERSON 100% or YOU AGREE TO NOT CRY WHEN YOU ARE STOLEN FROM. I promise you that I will never lose another bitcoin and we can get to a spot eventually when everyone can say this.  My website at http://ubbbk.com accepts bitcoin but all of my info is very public. These are the things you need to check into prior to spending bitcoin anywhere!

Is the business listed elsewhere?
Have you searched google adding "SCAM" behind the term.  ie, bitplastic scam
Have you tried the phone number for the business. (Michael Moriarty claims, "I don't use phones" - well duh cause you fucking steal")
Have you emailed support and got a timely response?
Have you verified the physical address?
Have you asked for identification details of the owner?

If they refuse to give you their details (which is their right) I believe you need to not use that business and post on FB or G+ the reason you did not (your right)

By doing these things, the businesses that are legit are the ones who will survive.

[GrandmaJean]

Unfortunately, Bitcoin is an excellent medium for scaming.

I think what you meant to say or in my opinion should have said is, "Too bad the average person doesn't do enough to secure their money and is a target for scamming".  Just like anything else people will be targeted for scams if the scammer feels their targets have something of value they want. 

There are other ways that people can scam without stealing the private keys. For example around a month ago there was an article about people who were sending letters to restaurants threatening to give them bad reviews on sites like yelp if they did not send them 1 BTC

[goddyvips]

Hi all bitcointalk members I want to tell you about an exchange site which is scam  "coinexd.com".I deposited some lootoshares to this site but  never received.I also send some xuro coin but never received. I also email him three times but never got any reply.
http://lottoshares.42tx.com/address/LXLYAgQzP6AtXxYKK48Rzv4f9sYtWFrT2P
Xuro coin-Address: XWq22v6yNVrAq28DoYUbv7NzUgy9xtiFUm
TxId: 0b6924c5149b1b841a5e0132c010ffc8a11bd9c774db26fc423c361d4411716b

https://i.imgur.com/9EDdpUP.png
https://i.imgur.com/6LQzhPz.png
https://i.imgur.com/f62juuo.png
Do not ever try to deposit on this site or you will loses all your amount.
Seriously I lost about$3 worth Bitcoin on this site

[sandykho47]

Scam business is everywhere 
Every country, every fiat there are always scam business

I think i just use popular service & trustworthy to prevent scam

[awesome31312]

Hi all bitcointalk members I want to tell you about an exchange site which is scam  "coinexd.com".I deposited some lootoshares to this site but  never received.I also send some xuro coin but never received. I also email him three times but never got any reply.
http://lottoshares.42tx.com/address/LXLYAgQzP6AtXxYKK48Rzv4f9sYtWFrT2P
Xuro coin-Address: XWq22v6yNVrAq28DoYUbv7NzUgy9xtiFUm
TxId: 0b6924c5149b1b841a5e0132c010ffc8a11bd9c774db26fc423c361d4411716b

Do not ever try to deposit on this site or you will loses all your amount.
Seriously I lost about$3 worth Bitcoin on this site

Really sorry for your loss.
Thank you for sharing, however, your post belongs here

[arxwn]

Scamming is not even a fact of currency...people get scammed to do free jobs or chores or whatever and dont get me started with organised religions scams,
scamming is part of life. There are always red flags you can look for but the are only indications.
Longevity of a service is a good indication but then again I've seen pyramids last decades.

[dankkk]

Unfortunately, Bitcoin is an excellent medium for scaming.

I think what you meant to say or in my opinion should have said is, "Too bad the average person doesn't do enough to secure their money and is a target for scamming".  Just like anything else people will be targeted for scams if the scammer feels their targets have something of value they want. 

There are other ways that people can scam without stealing the private keys. For example around a month ago there was an article about people who were sending letters to restaurants threatening to give them bad reviews on sites like yelp if they did not send them 1 BTC

I agree. Bitcoin has been a way that people have coerced others into giving them money and allowing the scammer to launder their money to spend safely. Another example of this would be crypto locker virus that encrypts a user's files and the only way to ever access the files again is to pay a certain amount of bitcoin to an address specified by the program.

[minerpumpkin]

The whole scamming business is blooming, since authorities are still somewhat hesitant about actually pursuing Bitcoin thefts, you can get the money easily, without reveiling your personal information, and mostly because people are greedy and try to make more money. They get blind with greed when they see the promised returns.

[OleOle]

The whole scamming business is blooming, since authorities are still somewhat hesitant about actually pursuing Bitcoin thefts, you can get the money easily, without reveiling your personal information, and mostly because people are greedy and try to make more money. They get blind with greed when they see the promised returns.

I agree that greed does blind some people, there can be no question of that. However it is also important to point out that many people who weren't blinded by greed, but rather attempted to use exchanges, portals and sites that were well-regarded at the time have also been the victim of scamming. It's possibly a matter of semantics, but the thousands of people who got caught when Mt Gox or Bitfunder went down probably didn't feel that they were being too greedy or aggressive with their bitcoins, more that they were using sites that had a reasonably positive reputation (to the extent that any bitcoin site can acquire a positive reputation) and nevertheless had their coins scammed or their investment value partially or totally destroyed.

Without some type of government regulation and enforceable legal consequences, the wild west or frontier nature of bitcoin banking or investment remains problematic at best.

 

[minerpumpkin]

The whole scamming business is blooming, since authorities are still somewhat hesitant about actually pursuing Bitcoin thefts, you can get the money easily, without reveiling your personal information, and mostly because people are greedy and try to make more money. They get blind with greed when they see the promised returns.

Without some type of government regulation and enforceable legal consequences, the wild west or frontier nature of bitcoin banking or investment remains problematic at best.

 

Yes, and even if some people like it exactly that way, it will stop the general public from getting involved with Bitcoin. An economy can't work if only those survive who scam the most, the best, or can hide the fastest. This is exactly why regulation exists, and isn't necessarily a bad thing (like many extreme Bitcoin proponents suggest!)