Bitcoin is for scammers, yea right!

[Kakmakr]

We regularly read FUD articles in the popular media about Bitcoin being used in scams and that it is a perfect tool for scammers to hide their activities and the movie industry already labelled Bitcoin as the Internet of Money for the DarkNet.  

I am currently watching a series called, "Undercover: Nailing the Fraudsters" and most of the scams featured there are done within a regulated environment. Boiler room scammers are not requesting payment in Crypto currencies to hide their activities, they get the victims to deposit money via their Bank accounts into their Bank accounts. <obviously created with fake ID documents>  

In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It usually refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements or committing outright stock fraud. - Source : https://en.wikipedia.org/wiki/Boiler_room_(business)

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  

[xvids]

We  have been hearing this since Bitcoin started .
Funny cause some of those who calls it scam before are now into crypto.
Those who are against it are now using it to make money.
I think for those people like me who have been in crypto for years have already heard this a million times and it doesn't bother us anymore.

[jseverson]

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  

Most reasonable people would agree. Calling them out this way, however, is a logical fallacy called Appeal to Hypocrisy, which ultimately leads nowhere.

I feel like it's more important to highlight that crypto is, and can be used for so much more. Majority of people who believe that Bitcoin is only used for scams, or even that Bitcoin itself is a scam, only know of Bitcoin as an investment vehicle. You're more likely to get through a person if you don't antagonize them, and you could even educate them on the actual subject itself in this case.

[Ailmand]

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  Wink

It's true that there had been a lot of scam that is happening in cryptocurrency, however, being scammed in cryptocurrency is really people's fault. Lack of knowledge, greed of earning potential high reward in short span of time leads people to joining scam investments. So, they should not blame crypto for being greedy and for their lack of knowledge about crypto.

The number of scam happening in real-life which is not crypto related is still tremendous. As mentioned by OP, boiler scammers, ponzi scheme investment, and a lot more.

[Kakmakr]

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  

Most reasonable people would agree. Calling them out this way, however, is a logical fallacy called Appeal to Hypocrisy, which ultimately leads nowhere.

I feel like it's more important to highlight that crypto is, and can be used for so much more. Majority of people who believe that Bitcoin is only used for scams, or even that Bitcoin itself is a scam, only know of Bitcoin as an investment vehicle. You're more likely to get through a person if you don't antagonize them, and you could even educate them on the actual subject itself in this case.

Nope, the goal are not to antagonize them, but rather to show them that there are two sides to an argument/debate.   We cannot ignore the massive subliminal indoctrination that are done by the media and the movie industry to portray Bitcoin as a scam. A lot of these accusations are focussed on individual Crypto scams that are totally blown out of proportion.

So, if they want to point fingers or throw stones at us, then they should consider that most fingers are pointing back and that they are living in glass houses.  

[Juggy777]

We regularly read FUD articles in the popular media about Bitcoin being used in scams and that it is a perfect tool for scammers to hide their activities and the movie industry already labelled Bitcoin as the Internet of Money for the DarkNet.  

I am currently watching a series called, "Undercover: Nailing the Fraudsters" and most of the scams featured there are done within a regulated environment. Boiler room scammers are not requesting payment in Crypto currencies to hide their activities, they get the victims to deposit money via their Bank accounts into their Bank accounts. <obviously created with fake ID documents>  

In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It usually refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements or committing outright stock fraud. - Source : https://en.wikipedia.org/wiki/Boiler_room_(business)

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  

Whenever I come across any article which says bitcoin is being used to scam people, I simply close it and ignore it as I know it’s not the truth. If you see the stats 99% of the scams happen involves fiat money, and most happen via the method you have mentioned above. I’m definitely going to watch that series, and will be using your last statement to make my case that bitcoin is not being used for scams.

[Genemind]

Cryptocurrency's image is being scratched by scammers who use Bitcoin in their own ways. Even people who don't have enough knowledge about Bitcoin mostly the elderly people always define it as a scam. Being Scammed or using it in an illegal way isn't Bitcoin's fault because it has its own function and it works in a great way yet some users use it in a negative way.

[Kakmakr]

We regularly read FUD articles in the popular media about Bitcoin being used in scams and that it is a perfect tool for scammers to hide their activities and the movie industry already labelled Bitcoin as the Internet of Money for the DarkNet.  

I am currently watching a series called, "Undercover: Nailing the Fraudsters" and most of the scams featured there are done within a regulated environment. Boiler room scammers are not requesting payment in Crypto currencies to hide their activities, they get the victims to deposit money via their Bank accounts into their Bank accounts. <obviously created with fake ID documents>  

In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It usually refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements or committing outright stock fraud. - Source : https://en.wikipedia.org/wiki/Boiler_room_(business)

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  

Whenever I come across any article which says bitcoin is being used to scam people, I simply close it and ignore it as I know it’s not the truth. If you see the stats 99% of the scams happen involves fiat money, and most happen via the method you have mentioned above. I’m definitely going to watch that series, and will be using your last statement to make my case that bitcoin is not being used for scams.

I think you missed my point, I am not saying Bitcoin is not used for scams, but rather that most scams are still being done, using fiat currencies and also within a regulated financial environment. Bitcoin is used for scams and we cannot deny that, because criminals are attracted to anything that has value and offers them some kind of anonymity. <Remember, Cash also offer anonymity>

We need to break the ignorance and the stupidity of people who prefer to only see the one side of the argument and not the flaws in their own statements.  

[jseverson]

-snip-

Nope, the goal are not to antagonize them, but rather to show them that there are two sides to an argument/debate.   We cannot ignore the massive subliminal indoctrination that are done by the media and the movie industry to portray Bitcoin as a scam. A lot of these accusations are focussed on individual Crypto scams that are totally blown out of proportion.

So, if they want to point fingers or throw stones at us, then they should consider that most fingers are pointing back and that they are living in glass houses.  

Pointing out hypocrisy is still antagonizing regardless of the intention though, which is counterproductive IMO. It doesn't change the fact that Bitcoin is used for scams either. Therein lies the logical fallacy.

The two sides on the argument, as you mentioned, in this case, should be that Bitcoin can be used for scams and that Bitcoin can be used legitimately. Pointing out that fiat is just as bad doesn't paint Bitcoin in a better light; letting people know of its actual legitimate uses does.

Or that's my two satoshis on the matter, at least. I feel like adoption shouldn't happen necessarily because fiat is bad, it should happen because Bitcoin is better.

[mk4]

I never actually get t he "bitcoin is for scammers, criminals, etc" argument. How could some people be so narrow minded to have such arguments? It's like saying that guns are only for murderers, knives are only for stabbing, cars are only used as getaway vehicles, etc. I could go on forever with such a list. It actually baffles me how supposedly knowledgeable or "intelligent" people like Jamie Dimon can make such statements. I don't want to be a tinfoil-hat guy, but this is the reason why I'm leaning more on these people trying to spread FUD.

[LeGaulois]

I still hear people saying Bitcoin is the Darknet's currency lol.
It is always easier to criticize than to compliment. And journalists know very well how to drive people's opinions while writing. People like to read dramas and scandals, so journalists give what brings traffic since it's what only matter for media.
The misinformation is a problem, and while it's true BTC is used by scammer the percentage is relatively low and they still prefer to use fiats. Like we say "look at yourself in a mirror"

[leea-1334]

No worry OP,,, I have a feeling that those people who understand money and the financial systems, they know it is not Bitcoin or whatever that causes fraud, they know scammers scam, regardless of the medium they choose,,, be it the internet or Bitcoin, this does not make the technology bad. It makes people bad. There is always a good side and a bad side to technology, this is all. Those who do not understand this cannot anyway be convinced!

[Haunebu]

I still hear people saying Bitcoin is the Darknet's currency lol.
It is always easier to criticize than to compliment. And journalists know very well how to drive people's opinions while writing. People like to read dramas and scandals, so journalists give what brings traffic since it's what only matter for media.
The misinformation is a problem, and while it's true BTC is used by scammer the percentage is relatively low and they still prefer to use fiats. Like we say "look at yourself in a mirror"

Agreed. The media has a profound effect on the world population and majority of what they report regarding Bitcoin and the crypto ecosystem is basically bullshit which scares away potential investors.

This is something which needs to be reversed in some way or another by highlighting the importance of crypto and the blockchain which would potentially drive adoption upwards.

[Rahman11]

Yes you can transfer bitcoin without your any physical id verification! no need any verification like others bank! it's a great chance to huge deal over crime! anyone like government can't track you because your physical id no need to use for deal by bitcoin or other cryptocurrencies! but fud lovers also take chance about this situation! by the way bitcoin can't set your mind! where and why do you use bitcoin, it's completely depend over you!

[RapTarX]

No one but the media mostly spread fud about bitcoin. Somedays ago, Shri Agarwal from India said bitcoin in a ponzi scheme. How illiterate he is can call bitcoin a ponzi scam. I guess the media and this person are working together to prevent bitcoin usage.

[De4ted]

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  

The irony will kick their ass. 

[Malsetid]

This has been a washed out accusation for btc already and i don't think there are as much people giving weight to this now compared to a few years back. With bitcoin's increasing popularity, people will eventually learn about it and know aspects beyond the negativities. The upward price movement can be a proof to this and people are seeing bitcoin now as more than a tool for scammers.

[okala]

We have been through this accusations many times since the inception of cryptocurrency, but statistics have it that about 90% of the scams are done using the faint paper money and the remaining percentages includes cryptocurrency and other virtual digital currency. And still we keep hearing terms like cryptocurrency is the currency of the darkweb. Its just whales trying to discredit the credibility of cryptocurrency.

[dothebeats]

Let them be, for they are making a fool of themselves and are generalizing way beyond an acceptable point. The financial sector already knows that bitcoin is one tool/currency that is good if regulated correctly, and only those people who are uninformed, misinformed and disinformed are the ones still rambling about bitcoin being the criminal's tool. I'm actually appalled that these guys don't dare see bitcoin in a different light, and fiat currency too. Well I guess some people have their own limited perspective on things and I don't blame them for that.

[meanwords]

Yeah, it's a little annoying to see that Bitcoin is being portrayed as a way to scam people for some but in truth, it is a revolutionary technology that could change the world. Bitcoin could be use in more ways. Bitcoin is going up again so we might hear more FUD coming.