Bitcoin is for scammers, yea right!

[Ryan Dugan]

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.

You know you don;t have to be scammed out of currency. You could have your time scammed away from you. You could also lose things of value. People can sell your contierfiet thing or trick you and leave you with nothing sitting scratching your head wondering what happened. Some peopel appear to need help but they just want money. Even in the streets you get beggers who ask for money and sometimes they drink it away but they will lie adn say they do not. That happens every day. If someone has something a greedy person will want it. Some greedy people don't want to earn it they want to take it. Bitcoin is just another place they can scam. Bitcoin is new so it is open to scams. You see the scammers will hope onto whatever is hot right now.

[denzkilim]

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.

That's correct, most of those people with negative points of view about Crypto Currency are here in the crypto space and learned how this technology can be profitable for them.
Those are normal in our society and anything that is new to everyone whether it is a new technology or something else most of the people will surely pre-judge it without knowing it or acquiring knowledge of what it really is.

[Mike Mayor]

I was scammed for a mere $10 from a local gardening shop. Many have complained and nothing seems to be done. I also paid someone a larger amount and never received what I paid for. There is not much I can do.
People say all sorts of stupid things without thinking its amazing.

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.

They rely on the greed that we all have yet some have more and don't think. People who fall for certain scams are sort of asking for it because what did they expect but then you get more advanced ones and those people I feel bad for.

[Payme21]

As a start, I love bitcoin, I trade bitcoin, I make money off bitcoin but have never  scammed anyone b4. This goes to day that individual differences mayters

[Naughty Princess]

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.

That's correct, most of those people with negative points of view about Crypto Currency are here in the crypto space and learned how this technology can be profitable for them.
Those are normal in our society and anything that is new to everyone whether it is a new technology or something else most of the people will surely pre-judge it without knowing it or acquiring knowledge of what it really is.

That is because they are trying to figure out things and want to have same earning which eager them to learn about crypto. These people are easily believer but inside of them are curiousity about how things really happen. Investing has high risk and if you do not plan before you take the risk, you end up of losing and just tell everyone that you scammed.

[Bunsomjelican]

I don't know if the author of this thread are one of the detractors of bitcoin, I've been hearing this several times here in the forum, and yet the community here instead of decreasing the numbers are increasing as time goes by. Meaning, Bitcoin is not only for scammer but to those people who have a good intention to use this bitcoin.

[MFahad]

I am disagree with you, scammer is here but not for bitcoin. When bitcoin was not but still scammers were here. A huge number of the investors are here in bitcoin list, they do trade daily and satisfied with it that everything is fine, including me, i am happy with bitcoin trade and i am not afraid of it that scammers are here. They don't bother us if we know that how to save your bitcoins in our wallets.

[acroman08]

I don't know if the author of this thread are one of the detractors of bitcoin, I've been hearing this several times here in the forum, and yet the community here instead of decreasing the numbers are increasing as time goes by. Meaning, Bitcoin is not only for scammer but to those people who have a good intention to use this bitcoin.

the title of the thread is SARCASTIC and the OP of this thread is saying that if anyone ever says that bitcoin is for scammers clarify to them that "most scams are still being done under the nose of the regulated financial industry." which is true.

[michellee]

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.

I think you heard about bitcoin because of one program that uses bitcoin for their payment. I see that is already happening since 2014 and many people have joined with those programs, but suddenly, the programs were closed and people getting losing much money. But for the truth, bitcoin is not for the scammer, but bitcoin is for good people who want to make a better life.

[pushups44]

I think bitcoin is widely regarded as a scam because people don't understand blockchain technology or how bitcoin works. People will sometimes attack things they don't understand or fear. Also, as bitcoin is intangible, there is the belief that it must therefore have no value. What people making such arguments fail to take into account is that fiat currencies are similarly intangible. Anyway, the coders and network infrastructure keeping bitcoin secure are physical.

[idham29]

I don't know if the author of this thread are one of the detractors of bitcoin, I've been hearing this several times here in the forum, and yet the community here instead of decreasing the numbers are increasing as time goes by. Meaning, Bitcoin is not only for scammer but to those people who have a good intention to use this bitcoin.

I just laughed at the opinion that bitcoin is a fraud, because bitcoin is the most expensive digital currency in the world. Now the function of bitcoin as a payment tool in a country that has legalized bitcoin, while in countries that have not legalized bitcoin, bitcoin owners often use it as an investment.
It turns out that investing in boitcoin is higher in profits than gold investment, especially in the past few months and in the future. This opportunity turned out to have opened the eyes of large investors so they bought bitcoin for investment, and held it for several weeks or months ahead. They sell it when the price of bitcoin has gone up.

[Dannaey]

That's why Bitcoin and Blockchain are created, because of the wrong practice in the banking industry wherein we really do not have control in our own accounts.
But other influential people are saying that Bitcoin is a scam, yet they do not understand deeply the technology behind it. Actually, people using Bitcoin are the one who manipulates and take advantage of other people. Not Bitcoin itself.

[Bes19]

There is so many people who think bitcoin is a scam but to be honest bitcoin has been used for scamming since the beginning. They know since bitcoin is decentralized, no one will actually know their real identity. Scammers are just using cryptocurrency for crime.

[xWolfx]

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.

Yeah, those who have faith risk a lot but if it turns out to be alright then the benefits are many.

There is the other side of the coin, when it turns out to be a failure and it's like falling but have to get up, right?. I still need to improve myself to be able to invest into this technology a lot more and help a lot more in the future that is something i encourage people do.

The simple fact of investing here is precisely one grain of sand towards future change worldwide in the future.

[Austin_Lord]

No this is not right.. bitcoin is not for scammers.. bitcoin are for those people who want ti invest.. well prople  are earning from bitcoin alot but there are some chances of scam
.

[krb91]

Anonymity and privacy on the blockchain is something that can be abused, not just by scammer by by governments as well. However, it is not enough reason to say Bitcoins is for scammers, even in my locality people are often of that mindset, it couldn't be farther from the truth.

[CoinCollect]

Fraudsters have many other ways to commit illegal actions. It is possible that bitcoin is also used for illegal purposes, but this does not mean that bitcoin is dangerous.

[Naughty Princess]

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.

That's correct, most of those people with negative points of view about Crypto Currency are here in the crypto space and learned how this technology can be profitable for them.
Those are normal in our society and anything that is new to everyone whether it is a new technology or something else most of the people will surely pre-judge it without knowing it or acquiring knowledge of what it really is.

That is true. Many are judgemental within the society and believe easy on what other say without doing any research for their own. Bitcoin is crypto that is good to invest with. Though it dumps hard before, it has really a chance to grow again in the market. It is not only for scammers but for those who understand it deeply about how it really works and manage the risk on their hand.

[Finestream]

Fraudsters have many other ways to commit illegal actions. It is possible that bitcoin is also used for illegal purposes, but this does not mean that bitcoin is dangerous.

This has happened since bitcoin started so this news is not new already.Scammers are everywhere especially now that bitcoin is their own tool to lure thousands of people.Newbies might be very affected with this but for us who spend long years already in this crypto community,we are already aware of this.

[CASTIEL05]

I think those who called Bitcoin a scam are not well educated about it. I find it pathetic how they simply judging it without knowing it first. I challenge them to enumerate the reasons why they say that Bitcoin is a scam. Maybe its just better to accept that you don't know about it than judging it without taking the reason.