Bitcoin scams and new Bitcoin users

[Getmon]

That's why people should be aware that they need to study the projects before investing, they need to know what they should know in every projects, but many are too greedy and bitcoin been used by scammers, they just might shows some proof that makes the new users intrigue and wanted to join since they show some proof or edited proof. Bitcoinis just used as medium and its hard to eliminate people who only know is to scam others.

many people will trust to someone easily, so they can get scam. when they get it, they will say that bitcoin is scam.
knowing what will you do is important than other. you must be know about what is investment, who people that bring you, and other thing that relate with it. sad if someone say that bitcoin is scam without knowing about bitcoin exactly.

It is partly the fault of the people who were scammed. Everything is provided in the internet. Google knows everything. They could have spent at least an hour over there and realize that what they are getting into is not true. There are already so many stories of victims being posted online. Many people who got victimized by scams claiming they have connection to Bitcoin or cryptocurrency either as a trader or as an investor are those who are just thinking of the promised return without flipping a page.

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[d3nz]

There are a lot of people who wants easy money and they are falling into the trap of scammers. And i know that this is happening all the time and most people are lacks of knowledge on how does this investment really works and that's why they are being take advantage and also by manipulating them.

And even thou there is a lot of post regarding this scheme, still people entertain and making an investment even thou they know therw is a huge risk losing their money.

[Boov]

There are a lot of people who wants easy money and they are falling into the trap of scammers. And i know that this is happening all the time and most people are lacks of knowledge on how does this investment really works and that's why they are being take advantage and also by manipulating them.

And even thou there is a lot of post regarding this scheme, still people entertain and making an investment even thou they know therw is a huge risk losing their money.

Yes they are the most likely to be scammed. People that always depends on easy money, there are a lot of projects that are reliable even there are a lot of scams, we should research first to every projects that we are joining. Christmas is coming many scammer are everywhere we need to be aware.

[wellfare]

To be honest, I do not think Bitcoin will ever reach a state where it will be trusted and traded as a universal currency, Bitcoin is a niche currency and will probably stay like this.
Bitcoin history started long ago, it was popularized by the media during its bubbles, but before all this, it was used only on the Darkweb where scammer and theft make the rules, and it still carries this legacy
Bitcoin is made for the type of people that can secure their funds meaning the nerd and savvy type, However, since more and more people tend to become tech-savvy probably one day it could be possible to have a large number of people in Bitcoin, but I don't think I will witness this in my lifetime.
There is a way tho, it would be to trade decentralization at least at a certain level to have more security, "cryptocurrency" like Libra might not be a bad thing at all, but most people and also probably many scammers would not like this idea.
So we are stuck in a circle that makes it near impossible to compel the everyday people to Bitcoin, but that only involves Bitcoin, not all cryptocurrency, I think that crypto will evolve into something that will overwrite the current monetary system or at least bring great change to it,
but for Bitcoin, it will probably stay a niche currency.

[buwaytress]

Things like that make the image of bitcoin worse which affects the movement of bitcoin because of the negative impact for those who already believe in bitcoin become less trusting again, and besides it makes people hesitate to get involved with bitcoin.
and the development of bitcoin is growing fast and more trials will be faced, and the saying goes that the taller the tree, the stronger the wind will hit.

Nah, there's little you can do to Bitcoin's reputation and image that time and adoption won't fix. It's the familiar tech cycle. We first heard about AI and robots as potential threats to our very existence. Evil robots hell-bent on murdering the planet. And now evil criminals intent on laundering every single dollar through darknet markets.

Pop culture and mainstream headlines were unkind to the telephone, to cars, to the Internet. It's only natural it's unkind to Bitcoin.

Eventually that tree gets so tall the wind's got to be a hurricane to damage it.

[oleg681010]

New users should always be very careful, because scammers will be waiting for them at every turn.

[Palider]

These scams are not new and many investors are aware of this trend so few have seen this invesment and some scammers have given up this way.

Scammers are now on the telegram

1). pretending to be support of some exchange (exp: latoken)
2) Others are chatting to withdraw thier funds on gambling website and give you half on btc on the website and demand you to deposit btc because the maximum withdrawal is not enough.
3) Giving you some link that is actually a malware or phising site
4) Spamming airdrop that you need to do kyc and earn x amount of ethereum or they faje coins. and many more.

[minersday]

I always get sad when I hear and see victims who usually fall for these kinda bitcoin scams. These people usually see all kinda Bitcoin investment as a get rich quick avenue and usually don't mind investing huge sums of money into them.  But sometimes I don't feel sad for them since its only greed that will make people to fall for such scams. People need to understand that there is nothing like free money in the world we find ourselves.  And Bitcoin is just a digital representation of the fiat currency we use in our financial ecosystem. Once people understand this, they will never fall for Bitcoin scams.

[maydna]

The scam will always be there, but we can avoid something that looks suspicious, so we don't want to get the trouble. With learning about something that we want to invest, we can reduce the chance to get a scam, and we can also have time to select the best thing that we want. But unfortunately, more new people will not always learn from many sources, and they only follow what other people suggest without learning. If that happens, then we are going to see the scam case happens in many places, and we cannot do anything except advise those people. Every people, not just new bitcoin users, will need to be careful if they see some offers that look good to be true, and they need to search more about the truth.

[Eugenar]

Things like that make the image of bitcoin worse which affects the movement of bitcoin because of the negative impact for those who already believe in bitcoin become less trusting again, and besides it makes people hesitate to get involved with bitcoin.
and the development of bitcoin is growing fast and more trials will be faced, and the saying goes that the taller the tree, the stronger the wind will hit.

It is actually not when the bitcoin has already established a strong foundation to the market. Why? Because we can directly compare bitcoin to the fiats that we have. Where if people experience a scam or frauds, they do not blame the systems, but the people who uses it. That same concept should be applied to bitcoin as well so the reputation of bitcoin will not be affected. In order to stop this, we should all be well knowledgeable to the security measures to avoid having a negative experience with bitcoin.

[Hippocrypto]

Things like that make the image of bitcoin worse which affects the movement of bitcoin because of the negative impact for those who already believe in bitcoin become less trusting again, and besides it makes people hesitate to get involved with bitcoin.
and the development of bitcoin is growing fast and more trials will be faced, and the saying goes that the taller the tree, the stronger the wind will hit.

It is actually not when the bitcoin has already established a strong foundation to the market. Why? Because we can directly compare bitcoin to the fiats that we have. Where if people experience a scam or frauds, they do not blame the systems, but the people who uses it. That same concept should be applied to bitcoin as well so the reputation of bitcoin will not be affected. In order to stop this, we should all be well knowledgeable to the security measures to avoid having a negative experience with bitcoin.

Nobody will he scam if a person won't allow it to happen, prevention is better than fixing something that has been happening. However, dealing on a situation that could bring you more prone to scam must be avoided. If you're aware on things around you, I don't think you'll be able to compromise all things that put your bitcoin funds to danger especially to new users.

[Edraket31]

Things like that make the image of bitcoin worse which affects the movement of bitcoin because of the negative impact for those who already believe in bitcoin become less trusting again, and besides it makes people hesitate to get involved with bitcoin.
and the development of bitcoin is growing fast and more trials will be faced, and the saying goes that the taller the tree, the stronger the wind will hit.

It is actually not when the bitcoin has already established a strong foundation to the market. Why? Because we can directly compare bitcoin to the fiats that we have. Where if people experience a scam or frauds, they do not blame the systems, but the people who uses it. That same concept should be applied to bitcoin as well so the reputation of bitcoin will not be affected. In order to stop this, we should all be well knowledgeable to the security measures to avoid having a negative experience with bitcoin.

Nobody will he scam if a person won't allow it to happen, prevention is better than fixing something that has been happening. However, dealing on a situation that could bring you more prone to scam must be avoided. If you're aware on things around you, I don't think you'll be able to compromise all things that put your bitcoin funds to danger especially to new users.

Exactly you are right, no one gonna have the guts and courage to scam people if they think that people has been wise now, but sad to say that there are still some people who doesn't know what they are doing, that they are just after and hoping with the profit that they can earn, they are not considering the risk associated to their actions, they are too careless with it.

[ballerin and giroud]

Let we imagine, bitcoin has increased a lot a t 2017 ago and there are many people who curious to it. But honestly they just curious to the money that will get if they start to spend. Just simple question, do they get that they wanted? Most likely not, most of them will fall to the some people who offer that they have a way to make their dreams come true surely through an easy way such as cloud mining.

Through cloud mining the investor didn't need anything, I mean someone just spend his money and join the cloud mining server and they will get profit monthly or weekly, it is simple way, isn't it? I think it is reasonable for those who fall to this trap, because the focus of them just getting money quickly, it will be different if they try to find more source or at least if someone find a way (whatever it is) to get money through bitcoin should chrosschect it first, find the ins and out about the first and ask to someone who has knowledge about cryptocurrency such this forum.

[Lauren Smith]

I always get sad when I hear and see victims who usually fall for these kinda bitcoin scams. These people usually see all kinda Bitcoin investment as a get rich quick avenue and usually don't mind investing huge sums of money into them.  But sometimes I don't feel sad for them since its only greed that will make people to fall for such scams. People need to understand that there is nothing like free money in the world we find ourselves.  And Bitcoin is just a digital representation of the fiat currency we use in our financial ecosystem. Once people understand this, they will never fall for Bitcoin scams.

Greedy people get what they deserve. Remember the greedy dog who barked at his own reflection on the water because he wanted the other dogs bone but he was left with none since it fell out his mouth and into the water when he barked. People should really pay attention to stuff like these stories and fables. We taught this stuff as children and somehow some people forgot. A fool and his money are easily part.

[Digitalbitcoin]

The very important thing to observe is how the user get involved in Bitcoin or Cryptocurrencies environment?

The answer to this question will give a clear picture of scamming.

Greed and lack of knowledge are the most common fundamentals occurs who get scammed in the past period. So as per my opinion, there is no matter whether user is newbie or experienced. One single wrong move can fall user into trouble. And as we know there is no support or back office for Bitcoin backend so people loose trust after getting lost in scams.

[joshy23]

I always get sad when I hear and see victims who usually fall for these kinda bitcoin scams. These people usually see all kinda Bitcoin investment as a get rich quick avenue and usually don't mind investing huge sums of money into them.  But sometimes I don't feel sad for them since its only greed that will make people to fall for such scams. People need to understand that there is nothing like free money in the world we find ourselves.  And Bitcoin is just a digital representation of the fiat currency we use in our financial ecosystem. Once people understand this, they will never fall for Bitcoin scams.

Greedy people get what they deserve. Remember the greedy dog who barked at his own reflection on the water because he wanted the other dogs bone but he was left with none since it fell out his mouth and into the water when he barked. People should really pay attention to stuff like these stories and fables. We taught this stuff as children and somehow some people forgot. A fool and his money are easily part.

You should always be concerned on how to protect yourself each time you will invest your money. This industry with volatile nature is being misinterpreted by many. Thinking that it's an easy access to earn money but once suffered from loses it easy for those people to cry out and blame the system of being scammed. Your knowledge is your tool to survive and to earn better to use the proper judgment and not to blindly invest without knowing what you are doing.

[topbitcoin]

I always get sad when I hear and see victims who usually fall for these kinda bitcoin scams. These people usually see all kinda Bitcoin investment as a get rich quick avenue and usually don't mind investing huge sums of money into them.  But sometimes I don't feel sad for them since its only greed that will make people to fall for such scams. People need to understand that there is nothing like free money in the world we find ourselves.  And Bitcoin is just a digital representation of the fiat currency we use in our financial ecosystem. Once people understand this, they will never fall for Bitcoin scams.

Greedy people get what they deserve. Remember the greedy dog who barked at his own reflection on the water because he wanted the other dogs bone but he was left with none since it fell out his mouth and into the water when he barked. People should really pay attention to stuff like these stories and fables. We taught this stuff as children and somehow some people forgot. A fool and his money are easily part.

You should always be concerned on how to protect yourself each time you will invest your money. This industry with volatile nature is being misinterpreted by many. Thinking that it's an easy access to earn money but once suffered from loses it easy for those people to cry out and blame the system of being scammed. Your knowledge is your tool to survive and to earn better to use the proper judgment and not to blindly invest without knowing what you are doing.

People who scammed because they not careful or because any reason that you all mention above. Spread information will be better or maybe at least we protect ourself from something like that and don't need to really deep into other person's choice. If they like to read first, maybe they wouldn't easily trapped into scammers. And they wouldn't blame bitcoin itself for their mistakes.

[pawanjain]

After the boom of bitcoin in end of 2017 it caught eyes of general audience and many people who thought it as a great investment opportunity bought bitcoins and this is now continuing more and more people with little technical knowledge joining the bitcoin community it was essential to happen this for bringing bitcoin in mainstream but with that this made this era paradise for scammers every day many scams come into existing now their number are growing faster and they target people with less technical knowledge of bitcoin they are likely easy to get scammed some of common scams the scammer pulls are :

1. Cloud mining scam where they make users to invest in their cloud mining and give them a very small % of their amount daily and also encourage them to bring more members so they can get extra rewarded after a time when deposit amount starts to slow down and withdrawal amount starts to increase then their threshold they simply vanished.
2. Multi level marketing scam this work as from oldest days just invest an amount bring two more make your own tree and earn rewards starting ones in this scams who are able to get many other people always get profited and 99% of members who are in down ranks get scammed they do the same when incoming amounts slow down and outgoing amount reach a certain threshold they simply vanish.
3. The seed hack scammers are approaching people saying we will teach you how to make 100$ in one hour and you need to give it to us most common people don't know about seed and put their btc in online wallet such as coinbase or blockchain so scammer get their screen shared and make them transfer their btc in a wallet such as electrum and got their seeds screenshots open their wallet in their own computer and transfer the amount people had no idea what struck them .
4. Investment scams deposit x amount and get x amount this is the most common type of scams getting all over the internet it is a small amount scam usually people don't mind to fell in it by giving 5-50$ of amount to these scammers .

These are some examples of classic scams affiliated with bitcoin and cryptocurrencies as bitcoin community is in main stream these types of things confuse people by saying bitcoin is a scam and what ever they try to do with it they ended up in the scam. With their less knowledge about bitcoin it is nearly impossible to make them understand that they are victim of classic scams and it is nothing to do with btc but for these scams they cant go any where or report it they feel vulnerable in using cryptos many individuals trys to point out some scams which get into main stream but this thing need to be done as a collective effort. I propose to have a plat form for normal people teaching them basics of bitcoin as a 9 year could understand all this. because community platform like bitcoin talk have a way to much advance topics which confuse or scare the new non technical people .

I agree with you but these days anything can be found on the internet. There are already many websites which explains bitcoin, it's functionality, it's use cases, possible scams etc..
It's just a matter of minutes and all the information is in front of you. But there are many who do not bother to research before investing their money on anything.
People only lose their money if they don't pay attention to what they are doing.

Anybody who buys bitcoin should know how to use the internet then why do people don't research before investing their money ?

[Wintersoldier]

I agree with you but these days anything can be found on the internet. There are already many websites which explains bitcoin, it's functionality, it's use cases, possible scams etc..
It's just a matter of minutes and all the information is in front of you. But there are many who do not bother to research before investing their money on anything.
People only lose their money if they don't pay attention to what they are doing.

Anybody who buys bitcoin should know how to use the internet then why do people don't research before investing their money ?

That is why before we introduce cryptocurrency to people, we should also be responsible for educating them on the possibilities of being scammed and be a victim of illegal activities on the internet. I do really appreciate people who conducts seminars that are free to public that is concerned about cybersecurity and investment. It strengthens the foundation of an individual to become risk-free and to have a deeper understanding of how to avoid fraud in the market.

[annylawrence]

Things like that make the image of bitcoin worse which affects the movement of bitcoin because of the negative impact for those who already believe in bitcoin become less trusting again, and besides it makes people hesitate to get involved with bitcoin.
and the development of bitcoin is growing fast and more trials will be faced, and the saying goes that the taller the tree, the stronger the wind will hit.

I think that we should know every system has it negative side too and weakness I may say, and this is what those people that are bad have seen and taking advantage of to tarnish the image of cryptocurrency which we also contributed to it too. The way we contributed to it was that we gave them so much open hand to operate by not cross checking every project that they came up with in form of scam just because we want to make quick money, and this is what we have to deal with now.

Instead if the interest of people in cryptocurrency, they are just losing interest the more because of the fear of unknown and uncertainties about the future of cryptocurrency. I wish that we could just have one of these main countries to come up with regulations as this will help a whole lot.