Bitcoin is for scammers, yea right!

[00DKM@]

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.  

Yes, that is the generous generosity you have for the liars and the scams. It is understandable to find a place full of sunshine in a struggling life because of suspicion. It comes from everywhere. Another face of truth.

[bhabygrim]

Yup the last words from OP i agree, scammer always happen no matter on crypto or fiat. Everything connected with money, scammer will be there.

I strongly agree with it no matter what it is as long as it have a value scammers would always be there,
Scam has been around for so long even back when we are still using gold as currency or to pay for everything.
You could see some from the old movies that scams has always been around as long as they could use anything that have a value.

[Sithara007]

Yup the last words from OP i agree, scammer always happen no matter on crypto or fiat. Everything connected with money, scammer will be there.

I strongly agree with it no matter what it is as long as it have a value scammers would always be there,
Scam has been around for so long even back when we are still using gold as currency or to pay for everything.
You could see some from the old movies that scams has always been around as long as they could use anything that have a value.

Agreed. Even before the creation of Bitcoin, the scammers were fooling people and stealing their money. Bitcoin is an attractive medium for the scammers, because it can be extremely hard to track these criminals once they vanish with someone else's coins. It can be especially hard, if they moves the coins from one country to the other.

[Ayiranorea]

Yup the last words from OP i agree, scammer always happen no matter on crypto or fiat. Everything connected with money, scammer will be there.

I strongly agree with it no matter what it is as long as it have a value scammers would always be there,
Scam has been around for so long even back when we are still using gold as currency or to pay for everything.
You could see some from the old movies that scams has always been around as long as they could use anything that have a value.

Agreed. Even before the creation of Bitcoin, the scammers were fooling people and stealing their money. Bitcoin is an attractive medium for the scammers, because it can be extremely hard to track these criminals once they vanish with someone else's coins. It can be especially hard, if they moves the coins from one country to the other.

Bitcoin is used as a medium to scam people, even before the existence of bitcoin people were scammed. As bitcoin gave people with the anonymity it got better to be an easy way to scam people. Regardless of the increasing scam people are getting much aware and keeping thyself safe.

[iMark]

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.

Sad but true, in fact industries that already have regulations under the government legal protection sometimes become scams and harm many people. many MLM and ponzi businesses claim that they already have permission from financial services authorities, but in the end they become a scam. bitcoin without a regulation and is seen as low by many outsider, actually has made many other people rich. this is irony

[joseyphil82]

This doesn't state the fact that bitcoin is a scam ,scam artist can use any form on goods to scam there victims either fiat or not ,I used to join a ponzi scheme and all money I lost on there are in fiat ,I later heard some are scammed of there coins on there too so scammers use all form of money

[Rufsilf]

Scammers are everywhere and i feel sad for bitcoin, We can't deny the fact that some people used bitcoin for their own benefits. Bitcoin is for everyone and it depends to the people if they use it for good or bad. People are very dangerous and all we can do to all scammers over there is pray for their changes.

I agree, bitcoin has more good than bad but because of scammers bitcoin become bad to most of the people. Scam is something that we cannot avoid because there is always someone who will scam people so we just have to be very careful and I think we just have to educate other people about bitcoin its true use and benefits for them tp filly understand it better.

[ethereumhunter]

This doesn't state the fact that bitcoin is a scam ,scam artist can use any form on goods to scam there victims either fiat or not ,I used to join a ponzi scheme and all money I lost on there are in fiat ,I later heard some are scammed of there coins on there too so scammers use all form of money

That is right, and bitcoin is not a scam, only people who have purposes of stealing the people's money that will make bitcoin is like a scam. Bitcoin itself is neutral, and it depends on how we use bitcoin. In out there, many programs using the name of bitcoin to attract people to join with them but then they scam people by running their money and never shows up again. So people will know that bitcoin is a scam, but the truth is bitcoin is not a scam.

[Little_king]

Lot of reasons those in top dont want bitcoin to survive are risk of getting richer, risk of loosing their business , fear of losing the control over the poor once when the crypto liberate them from poverty and so on .

The banks are the major scam I ever see in the history of this world as every fraud transaction pass through their nose and has record but were swept under the Capet with a crazy word called policy or privacy.

And crypto that HSS come to solve these issue is being tag as scam when they can open their eyes and see lot of scam in their ledger.

I never worry about those news anymore and who worry only wasting his or her time , #crypto #blockchain #hereToStay

[Noversetied]

One of the most common frauds is hitting people's greed. They draw a huge investment scenario, the more investment the higher the profit. A typical example is a Ponzi scam - that is, taking a loan to pay interest to others.

[zee11225]

Not all of us know the truth. Bitcoin can be used for crimes against terrorist acts. Usually they hide funding activities not through the bank, so they cannot be tracked and know who owns the wallet.

I agree with your opinion that bitcoin can be used for terrorism activities, but isn't it without bitcoin they can still carry out terrorist activities? ... So, I think positively that bitcoin is digital money that will be very useful in the future because the age is progressing where everyone will use digital devices in their lives.
Don't think of bitcoin for now, but think of bitcoin for 10, 20 or 100 years ahead where the world has been put together by internet devices with a touch on sophisticated mobile phones that can do anything, including bitcoin transactions.

[FlightyPouch]

This doesn't state the fact that bitcoin is a scam ,scam artist can use any form on goods to scam there victims either fiat or not ,I used to join a ponzi scheme and all money I lost on there are in fiat ,I later heard some are scammed of there coins on there too so scammers use all form of money

Scammers can use a lot of ways so people will fall to their hands. There are obviously a lot of ways and there are times that bitcoin is used so they can escape with their crime. I remember one time where the scammers used Bitcoin because they said that their investment is based on Bitcoin and when it dumped, the investments people gave will be gone too not knowing those people don't have any investment in bitcoin, they just ran with their money and bitcoin is their excuse.

[CryptoBry]

Yup the last words from OP i agree, scammer always happen no matter on crypto or fiat. Everything connected with money, scammer will be there.

I strongly agree with it no matter what it is as long as it have a value scammers would always be there,
Scam has been around for so long even back when we are still using gold as currency or to pay for everything.
You could see some from the old movies that scams has always been around as long as they could use anything that have a value.

Agreed. Even before the creation of Bitcoin, the scammers were fooling people and stealing their money. Bitcoin is an attractive medium for the scammers, because it can be extremely hard to track these criminals once they vanish with someone else's coins. It can be especially hard, if they moves the coins from one country to the other.

Scams have been following humanity and our history is filled with so many colorful and dreadful scams even sometimes perpetrated by famous personalities against unsuspecting ordinary people. Now, with the coming of cryptocurrency, scammers realized that they can magnify their business so well and there are more chances of not being caught. Today, scammers can be so creative on how they can fool people by appealing to their greed and using money or high potential ROI as bait. This is the big reason why ICO is no more attractive and why IEO seems to be taking its place.

[Dontme]

People who think that Bitcoin is scam or for scammers either don`t know what bitcoin really is or have been broke because of putting their money on bitcoin and hated bitcoin because of it. It`s really easy to say it is fake or scam if you don`t know the thing or you hate the thing. After all, many people are benefiting from bitcoin and other`s opinion does not matter.

[selectaselectine]

Bitcoin is a currency that scammers used to scam people but not the bitcoin itself. Maybe you are pointing on the bitconnect coin that is a legit scam. LOL! Bitcoin has many uses instead on scamming. There are more good things that bitcoin can do and more convenient than the fiat. Maybe its anonymity made it looks like a scam so I can really say that it depends on how people use it. Just be aware on the things that could scam you since bitcoin transactions are not reversible. Bitcoin is a great invention but we can't really avoid some features that could possibly use on crime.

[Marry Finch]

His research on the use of bitcoins for criminal purposes has already been conducted in the United States and the European Union. They concluded that bitcoin was used for less than ten percent of cases for criminal purposes. Therefore, we came to the conclusion that Bitcoin in this regard does not represent a serious danger. Therefore, this problem is far-fetched. Absolutely everything can be used with a legitimate or illegal purpose. Including cash of the states which also cannot be traced.

[danipay]

Bitcoin is a growing innovation and is a business opportunity that also has risks. There is no guarantee that Bitcoin will continue to grow even though it has grown so fast to date.

[yusupjatigumilar]

I have known beforehand that I know crypto currency and get money from there, after I learned and understood then I tried it, in fact there was not a single thing that was scam, everything was transparent and even it could not be manipulated like other commodity markets, who say that bitcoin is a scam is just those who are jealous to see bitcoin business people get a lot of benefits they also don't understand how bitcoin works and how to get it.

[ghost424]

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.  

Information stated above is really helpful. Lot of people still thinks that the Cryptocurrency Industry is full of scams and frauds but they are only scared because they have no knowledge of it. They need to have an open mind and learn about it. It is true that there may be some risk but learning about it will bring lots of profit. Being careless in the Cryptocurrency Industry is one of the worst thing that can occur to an investor. When i first learned about the forum, the first thing that i have read was on the Beginners section which is a great help and reading it is not a waste of time.

[Fedrey]

Back in 2016, I heard a lot of negative information about the entire cryptocurrency and about Bitcoin, as a very large financial pyramid.  Of course, I am very pleased that I still did not believe it and invest my Bitcoin funds when the price was $ 300, and $ 8 efirium.