Bitcoin is for scammers, yea right!

[yoseph]

That is just the tip of the iceberg bro. If we will have a full exploration on all transactions around the world, a lot of these frauds are inside banks.
And then we start counting all the mafia and syndicates that do their illegal transaction using fiat in underground places or anything hidden.

Governments don't mind that at all, and I think they even incentivize banks to keep serving the underworld.

Banks keep providing banking services to the underworld because it's extremely profitable, and the 'mega fines' they have to cough up are a joke compared to the profits they make. Banks consider these fines to be collateral damage and are calculated in already. Governments know that and use these banks as cash cow.

They could end it by increasing their fines by whatever insane percentage, but they don't because they know that banks will stop serving the underworld, and that means no more fines to throw around with.

It is actually a fact that most scammers and criminals prefer the use of bitcoins for the sheer reason of covering their tracks but one cannot deny that when bitcoin and cryptos weren't invented, banks were and they still are the main way that criminals are able to funnel their money. The banks tend to turn a blind eye to it because of the immense profits that they make as a result.

[FlightyPouch]

Yeah we can deny that many crime and dark transaction made with bitcoin as a payment.
But, if people adopt bitcoin as a mainstream payment, i'm sure it will really make everything faster and easier

Well, there is no need to deny since there is a lot of them in the past, I don't know how but all I know is that it is still not impossible. If I can remember correctly, some say that the reason why Bitcoin is booming is because of the fact that there are a lot of people use it to transact payment in the deep web. All I know is that we can't stop people from using Bitcoin in illegal transactions and if someone uses Bitcoin to scam, it is not Bitcoin's fault, it is the scammer's and yours.

[xWolfx]

The problem is that a lot of people tend to generalize and for that reason the whole community is affected. It's pretty obvious when you see the kind of arguments most of the ones saying come up with.

But at end it's the same, when mass adoption comes the possibility of Bitcoin being the leading the world's leading currency used for transactions is high. At least between the highest ones, depending on which year you see, then they will notice.

[1Referee]

It is actually a fact that most scammers and criminals prefer the use of bitcoins for the sheer reason of covering their tracks but one cannot deny that when bitcoin and cryptos weren't invented, banks were and they still are the main way that criminals are able to funnel their money. The banks tend to turn a blind eye to it because of the immense profits that they make as a result.

It's not a fact that most scammers/criminals prefer to use Bitcoin. Some do, sure, but most? Definitely not.

Bitcoin is a horrible tool for 'covering tracks' because you at all times have a transaction that sits in the blockchain for every agency to look into. If you also add that agencies are heavily investing in blockchain analysis and that their tools advance continuously, Bitcoin is actually pretty useless for high level criminals.

Nothing works better for that than physical cash and to some degree physical Gold. Nothing is more fungible.

[thirdlight]

It is actually a fact that most scammers and criminals prefer the use of bitcoins for the sheer reason of covering their tracks but one cannot deny that when bitcoin and cryptos weren't invented, banks were and they still are the main way that criminals are able to funnel their money. The banks tend to turn a blind eye to it because of the immense profits that they make as a result.

It's not a fact that most scammers/criminals prefer to use Bitcoin. Some do, sure, but most? Definitely not.

Bitcoin is a horrible tool for 'covering tracks' because you at all times have a transaction that sits in the blockchain for every agency to look into. If you also add that agencies are heavily investing in blockchain analysis and that their tools advance continuously, Bitcoin is actually pretty useless for high level criminals.

Nothing works better for that than physical cash and to some degree physical Gold. Nothing is more fungible.

Criminals use in our world a lot of benefits and things that should not be in doubt because of this use. Ordinary money I use everything!

[okala]

It is actually a fact that most scammers and criminals prefer the use of bitcoins for the sheer reason of covering their tracks but one cannot deny that when bitcoin and cryptos weren't invented, banks were and they still are the main way that criminals are able to funnel their money. The banks tend to turn a blind eye to it because of the immense profits that they make as a result.

It's not a fact that most scammers/criminals prefer to use Bitcoin. Some do, sure, but most? Definitely not.

Bitcoin is a horrible tool for 'covering tracks' because you at all times have a transaction that sits in the blockchain for every agency to look into. If you also add that agencies are heavily investing in blockchain analysis and that their tools advance continuously, Bitcoin is actually pretty useless for high level criminals.

Nothing works better for that than physical cash and to some degree physical Gold. Nothing is more fungible.

Yeah physical cash is the only way money can exchange hand without any documents or trace a lot of the scammers carry out they activities using the dollars and other centralized currencies with trace, they are all up against bitcoin and calling it scammers safe heaven because it operates on a decentralized network not knowing that the blockchain transaction can be trace at every level. It the law that need advanced tool to monitor the movement of cash.

[kiyotoch]

I am also concerned about the number of scam projects. Nevertheless, I still believe that thanks to the decentralization offered by the blockchain, we can provide more convenient management for any sphere of life activity

The process of distribution of blockchain technologies cannot be stopped Of course, last year proved to be that more than 80% of projects were scam. But as they say, you need to learn from mistakes and improve. First of all, it is necessary to make it possible to educate people on cryptocurrency investments and development of the blockchain. And the more people will be engaged in the improvement of technology, the sooner there will be ways to legislatively regulate cryptocurrencies in the financial market.

[edluis]

I am also concerned about the number of scam projects. Nevertheless, I still believe that thanks to the decentralization offered by the blockchain, we can provide more convenient management for any sphere of life activity

The process of distribution of blockchain technologies cannot be stopped Of course, last year proved to be that more than 80% of projects were scam. But as they say, you need to learn from mistakes and improve. First of all, it is necessary to make it possible to educate people on cryptocurrency investments and development of the blockchain. And the more people will be engaged in the improvement of technology, the sooner there will be ways to legislatively regulate cryptocurrencies in the financial market.

Power is knowledge, and that is true. I saw that some universities in Britain, Korea and Canada began offering blockchain technology training. But not all people can afford to move.

[cabshaw]

I am also concerned about the number of scam projects. Nevertheless, I still believe that thanks to the decentralization offered by the blockchain, we can provide more convenient management for any sphere of life activity

The process of distribution of blockchain technologies cannot be stopped Of course, last year proved to be that more than 80% of projects were scam. But as they say, you need to learn from mistakes and improve. First of all, it is necessary to make it possible to educate people on cryptocurrency investments and development of the blockchain. And the more people will be engaged in the improvement of technology, the sooner there will be ways to legislatively regulate cryptocurrencies in the financial market.

Power is knowledge, and that is true. I saw that some universities in Britain, Korea and Canada began offering blockchain technology training. But not all people can afford to move.

Distance learning is available to everyone. In addition, it is not necessary to study at the university. For example, every user can study in taklimakan, regardless of the country, since there is support for several languages. And you can immediately try to put into practice recommendations, thanks to trading and analytical tools

[edluis]

I am also concerned about the number of scam projects. Nevertheless, I still believe that thanks to the decentralization offered by the blockchain, we can provide more convenient management for any sphere of life activity

The process of distribution of blockchain technologies cannot be stopped Of course, last year proved to be that more than 80% of projects were scam. But as they say, you need to learn from mistakes and improve. First of all, it is necessary to make it possible to educate people on cryptocurrency investments and development of the blockchain. And the more people will be engaged in the improvement of technology, the sooner there will be ways to legislatively regulate cryptocurrencies in the financial market.

Power is knowledge, and that is true. I saw that some universities in Britain, Korea and Canada began offering blockchain technology training. But not all people can afford to move.

Distance learning is available to everyone. In addition, it is not necessary to study at the university. For example, every user can study in taklimakan, regardless of the country, since there is support for several languages. And you can immediately try to put into practice recommendations, thanks to trading and analytical tools

So far, not all countries are ready to admit the obvious things that blockchain technology will be everywhere. Sometimes it is from a lack of understanding of processes, sometimes from a desire to control everything. But for me, cryptocurrency is a way to make people equal and will interact with developers to improve the issue of cryptographic protection for users.

[Wingzcrypto2018]

All of us here had their own free will to say whether it is negative or good feedback. Since that Bitcoin was open to anyone in the entire world, this digital currency can also be use for legal and illegal purposes, which is depending on the holder of bitcoin where He/She want to use it, since this is decentralized based system, were no one or none of us neither any of the government can't able to control it. Therefore Bitcoin is not for scammers, this is to anyone who wants profit through online marketing system.

[sngwinner]

Some of these things came up because people had little knowledge on how btc works. All they knew was that one can hide his identity as long as they use btc to make transactions and so they begun to label it the way they did. We hardly hear some of these comments coming up of late because people are  beginning to appreciate btc now. Legible companies have accepted it as a means of payment and we are almost on the good note

[smyslov]

I would like to see those movies you've mentioned it looks good for educational purposes, and you are right that a scammer can be everywhere and use a lot of methods, there were a lot of scammers already even Bitcoin is not yet in existing, they jusr include Bitcoin as on eof their method.

[Ayiranorea]

Op has stated clearly about the scams that were happening around. For each and everything cryptocurrency is indicated while it isn't fair to point an innovation as root cause for scamming. If that's the case the term scam should have come into existence after the innovation of bitcoin. Earlier every people had such a thought, and now things have changed with better understanding about bitcoin and it is a proven fact that USD is the one that's been used much on illegal transactions.

[Gi01]

Anybody who describes or says Bitcoin is for scammers do not really know what they are saying. They are just confused and swallow minded. How can anyone in his or her right sense will ever think that Bitcoin is for scammers?? Its high time for crypto enthusiasts start educating the general public about the main purpose and functions of Bitcoin and blockchain. Ignorance is making people share any false info hear or think about the crypto space.

[Naughty Princess]

the scammer is very dangerous, this morning I also got information from my friend, that Upbit made an interesting offer, if we send 0.5 ETH, we will get 1 ETH.

This is a bad HYPE, I'm very interested, but my wife reminds me that it's a real scam.

Sure that there was a person who experienced on that. Search about reviews about that site for you to know better on it. That is what I am doing before I decide to join certain investments because the fund is hard to find just to give it away for the scammers.

[suzanne5223]

the scammer is very dangerous, this morning I also got information from my friend, that Upbit made an interesting offer, if we send 0.5 ETH, we will get 1 ETH.

This is a bad HYPE, I'm very interested, but my wife reminds me that it's a real scam.

You should be happy you have a good wife which will always give you good advice because the information will definitely not be from the mentioned exchange cause it might one of the strategy used by phishing scammer which created fake website address or email to scam people.

[maxreish]

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

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.

We can't deny the fact that people who are saying that btc is just some kind of scam is actually those who don't want to take a risk and easily believing in some fake fuds. Scams and Fraudsters are everywhere so why do they need to emphasize that bitcoin is just a ponzi scheme where in fact they never know about blockchain technology.

On the other hand, there is actually ponzi scheme happening in real life related to bitcoin. Some of them are using bitcoin to get some money with pyramid scheme.
Here are some of it:
-Xian Gaza expose btc pyramid scam
-another pyramid scheme

[Questat]

Fiat and crypto can be all used for scamming, but people judging bitcoin for scammers, that makes them stupid.

If they don't understand it, they should not judge it, fiat is more used in crimes than bitcoin and maybe some people are destroying
bitcoin because it's transparent and decentralized and could be a threat to fiat.

The future is unknown for bitcoin, but we are here trusting it by risking our money.

[CryptoBry]

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

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.

We can't deny the fact that people who are saying that btc is just some kind of scam is actually those who don't want to take a risk and easily believing in some fake fuds. Scams and Fraudsters are everywhere so why do they need to emphasize that bitcoin is just a ponzi scheme where in fact they never know about blockchain technology.

On the other hand, there is actually ponzi scheme happening in real life related to bitcoin. Some of them are using bitcoin to get some money with pyramid scheme.
Here are some of it:
-Xian Gaza expose btc pyramid scam
-another pyramid scheme

Just like the fiat money, scammers -- big and small, unknown and famous -- are using bitcoin as the "money" in their transactions. The problem is that since bitcoin is relatively new when a scam can broke out and there is the mention of bitcoin people who are still uneducated on bitcoin can easily conclude that the scam is "bitcoin scam" a term which is unfortunate and false. Anyway, as many marketing strategists would tell us even bad publicity is still a publicity. This is the reason why if there is an opportunity to explain to people around us the truth then we should take some time to explain to them why there is no such thing as bitcoin scam.