Do scams harm Bitcoin's reputation in the mainstream world?

[tbct_mt2]

Only in the short term to me. When there is money to make people forget everything LOL.

But let's be honest, they also publish positive news for Bitcoin when there is something that drive traffic. There aren't many websites publishing 100% anti-bitcoin articles.
They write what bring traffic, as I say, since it's how it gives revenues.

Bitcoin is scam is fake scam accusations. Bitcoin is not a scam project when it was born and has never been. There are bad people use bitcoin or the name of bitcoin to scam others, forked projects are type of scam projects but bitcoin has never been a scam project.

They create fake scam accusations, and FUDs only to get traffics to their sites or to manipulate bitcoin price, for their profits. When market is in bearish phase, they create fake accusations and FUDs but then market is in bullish, they create positive news for bitcoin. Don't worry about them and worry about the true legitimacy of bitcoin.

[mk4]

Money is a tool, and it will be used for good and bad purposes. You know, just like how the USD is also being used for bad purposes. Same with the internet, same with cars, guns, knives, heck, even your hand can be used for bad things.

With that said, while some people are definitely being turned-off from bitcoin due to all that negative press it's been getting due to it being used for fraudulent purposes, it really won't matter in the end. It's usefulness will overwhelm the negative side.

[Heart18]

In my country, the Government has negative impressions about Bitcoin  that is why they refused to legalized it. Maybe, this "scam" issues turned the Bitcoin image so bad.
However, as a whole I believe that everything pertaining to money can be used by criminals to do bad especially this time where we experienced too much economic crisis. Even in fiat or physical money, not just Bitcoin alone, when the scammers strikes, we can absolutely do nothing.
In connection with the question, I think the best way to avoid this incident is to be very careful in storing bitcoins in our digital wallets. We need to secure it properly and don't ever engage to some website or people that was offering something that is too good to be true.

[charlesmichel1]

Do Nigerian email scams or lottery scams harm the dollar's reputation? Do you still trust banks after credit card email scams?

[CryptopreneurBrainboss]

Judging based on the reaction in the market, I'll say it only has an effect in a very short time and most times this corrections are basically manipulation coming from the whales in the industry trying to profit from the negative news flowing around by creating a panic situation in the market. Nobody gives a shit about what the government thinks anymore and this days people tends to go the opposite direction of what the government are saying. Lets judge from what happened after the twitter hack, after a little correction bitcoin upward trend begin. Whole the government are advocating against investing in the industry, the masses are saying the opposite, 'we don't trust you guys (government) anymore'.

This goes to show more individuals got to know about bitcoin from the hack since more money starting flowing into the market. Don't be surprised not many people are fully aware of what bitcoin is all about so I don't get mad when I see this scams giving publicity to the currency. It only strengthen us more especially when the scams isn't caused by bitcoin like the twitter hack but bitcoin is been used for it's fast, decentralized and privacy features.

[bonjouros]

Scams can really affect the reputation of Bitcoin but with regards to whether it can affect that much then we should not worry as it will not affect that much.
Because only newbies or the people who have no background yet about the Bitcoin will likely to think that Bitcoin is bad.

But it will be better if we can prevent those scammers as they can also damage the Bitcoin reputation even by little because those newbies
who can be considered as future investors will likely to discontinue their journey in crypto currencies if they will fall to the hands
of the scammers.

[acroman08]

Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?

yeah, scams do harm the image and reputation of bitcoin and cryptocurrency in the mainstream world and maybe because of that the adoption rate is being affected(I might be wrong though) and the only way people will realize that bitcoin or cryptocurrency is not a scam itself is for them to learn or be informed of what bitcoin or cryptocurrency is. and I feel like, us, being in the community, has a responsibility to at least inform others(of course not in a way that it is annoying) of what bitcoin and cryptocurrency is.

[snarlpill]

They only possibly harm the reputation of Bitcoin to those who are ignorant of it still. Those of us that are informed know that scams don't reflect the integrity of the network/currency as a whole.

[shoreno]

Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?

yeah, scams do harm the image and reputation of bitcoin and cryptocurrency in the mainstream world and maybe because of that the adoption rate is being affected(I might be wrong though) and the only way people will realize that bitcoin or cryptocurrency is not a scam itself is for them to learn or be informed of what bitcoin or cryptocurrency is. and I feel like, us, being in the community, has a responsibility to at least inform others(of course not in a way that it is annoying) of what bitcoin and cryptocurrency is.

yes if not because of scams , price of bitcoin can boost more because of the adoption .  we want that to happen right ? yes , that why im helping cleaning the name of btc as much as i can or when i have a free time because i do love to socialize too and i recomend btc/crypto to the people with a good intro . the recent twitter scams is huge and  supposed to affect the image of btc and crypto pretty badly but there are no clear signs that it happen because as we see price is still stable and continue to rise

[raidarksword]

Yes, it brings bad reputation indeed to bitcoin that being said that it's a scam, fraud and whatever negativity they can throw on bitcoin. Many people putting bad names on bitcoin because it used on ponzi scheme by people want to take advantages thru the anonymity of it just like what happened on twitter hack incidents. Only people without knowledge on bitcoin will say that but to people who are educated about it, everything is fine and understandable that bitcoin is only being used by bad people that are hunger of greed.

[Latviand]

Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world?

Absolutely yes! This is really a hindrance for us to achieve mass adoption faster. These scams are really getting popular and cryptocurrencies are the tool that is being used for it. Although, fiat currency are the most used tool for scamming, but now that we are engaging into a more digitized transactions, cryptocurrencies are used for crimes.

It have some effect but it doesn't last that long. A lot of scams that happened and bitcoin just kept in comkng or bouncing back giving more profits to its users and investors. People here in our province thought it is a scam since it is reported in the news but they realized it is not since I've been using it 2 years since that news reporting.

It will not last longer if we try to support its legitimacy in the community. If we tell them and showcase the benefits and advantages of bitcoin, they will realized that bitcoin is a source of profit and can store value. Bitcoin do really need a lot of support from the community to fight against those bad things where crypto was being used.

[NavI_027]

Of course! Because first impression lasts. What do you think would probably happen if you experienced drowning for the first time? You will get afraid of water, right? The same will happen if you get scammed. Though technically speaking it's not bitcoin's fault, you still tend to get afraid of investing due to a bad experience. The trauma of losing money will remains that's why they now refuse to try again unless he/she is business minded which understands — that not at all times he/she is winning.

Nevertheless, I hope each and every person who got scammed (not only from crypto but in general) will finally overcome their fear. I hope they soon realized that cryptocurrency is not the real evil here but only a tool most often used by bad people.

It have some effect but it doesn't last that long. A lot of scams that happened and bitcoin just kept in comkng or bouncing back giving more profits to its users and investors. People here in our province thought it is a scam since it is reported in the news but they realized it is not since I've been using it 2 years since that news reporting.

It will not last longer if we try to support its legitimacy in the community. If we tell them and showcase the benefits and advantages of bitcoin, they will realized that bitcoin is a source of profit and can store value. Bitcoin do really need a lot of support from the community to fight against those bad things where crypto was being used.

Indeed, proper education of this technology is the key for them to believe in it. That it is not intentionally made to harm us .

[rodskee]

They only possibly harm the reputation of Bitcoin to those who are ignorant of it still. Those of us that are informed know that scams don't reflect the integrity of the network/currency as a whole.

Very straight to the point. Only those who are ignorant and didn't pay time to understand
what bitcoin is will see that way.
For people who have enough knowledge about bitcoin  won't affect anything, life will continue
the way they deal with this industry.
That Media hypes that pointed negative views for bitcoin will also helps in some ways, there are
still people who show interest after this news.
People that will come out of curiosity,  may also start investing to this market after learning
their opportunities,.

[Cryptoreflector_666]

There has been a lot of scams within the crypto space over the course of its lifetime. Most recently, a Twitter hack that took the accounts of prominent figures within the mainstream world, has been all over the news. Mainstream media has been making people believe that Bitcoin is "bad" by tying it to the Twitter hack. While malicious actors demanded to be paid in Bitcoin, it doesn't mean that the cryptocurrency itself is a scam. Unfortunately, many people in the mainstream world have commented about Bitcoin negatively because of the recent hack. Despite these unfortunate series of events, Bitcoin and other cryptocurrencies are experiencing huge gains on the market.

Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?

I think that such incidents, such as hacking Twitter accounts and then demanding a ransom in bitcoins, cause huge damage to all digital currencies and make them illegal. It is clear that it will not be possible to completely ban them, since this is a decentralized system, but this also puts legalization far away.

[bitsurfer2014]

~snip~

Of course! Ordinary people who have no idea about what Bitcoin is all about have the tendency to associate these scams with it that in effect taints its reputation and all the while, it is being stereotyped constantly.

Moreover, the victims of these scams would most likely make bad assumptions about BTC so that would be adopters would rather think twice in being involved with it. But I think this situation will change once they are armed with the right information and this could gradually change their perception about it. Imho.

[plvbob0070]

I think it's not about the media making people believe that bitcoin is all about scam since scamming has been always there, and what they do is to update people with recent news.  Although it may affect what people think about bitcoin since what they keep on seeing is the negative side of it. But I don't think this will affect bitcoin's reputation at all for a long time since there are people who still believe in bitcoin.

You see, paper money is also always involved in scamming and hacking activities but it does not affect its reputation to the public since it's is not just about illegal activities. The same goes for bitcoin, people just need to learn to fully understand bitcoin and change their perspective about it.

[john_nautica]

Indeed, these accusations would surely affect the reputation of Bitcoin. In fact, many are suspicious and have bad feeling when it comes to involvement with cryptocurrencies. However, I think despite these unpleasant impressions, people are becoming more curious than ever as to why Bitcoin is thriving if it is just some type of scam or ponzi schemes as they say. And so they, engage and then they realize their misconceptions about it.

[hatshepsut93]

They do when they are big enough. If it's some small-scale ponzi scheme, no one will hear about it from mainstream news, but if it's something like the recent Twitter hack, than some people would think that Bitcoin is responsible for it. The real question is how many people would for this opinion and how many people are aware of even big news. Twitter hack might be big news for people who are into technology, but I'm sure others not even aware of it, unless they are glued to news sites 24/7. So I think generally Bitcoin's reputation isn't that much damaged yet to worry about scams too much, but it would be good if there was less scams around, maybe if they moved to Monero, for example.

[thesmallgod]

From my own viewpoint, scam is cur across every currency. Both fiat and digital currency. However, it becomes a problem when the chance of getting or recovering back your money is very slim. Then people become fearful when it is not likely going to be so. Consistent use of digital currencies who has been a subject of discussion by novice as a scam will further harm the reputation of the coin while it might promote further usage as currency for getting away with scam by the scammers. Such can be noticed by increasing scam giveaway on youtube that use the same old trick and even site script

[Assface16678]

Right now there are a lot of platforms are doing the mode of payment with the use of cryptocurrency and of course, there are a lot of people want to make an investment regarding with this platform because they know this is a new coin and there is a chance to grow up also some of the modes of payment to their users are bitcoin as a person wants to earn bitcoin this is a good thing your mindset like

"Wow, this product helps me to earn bitcoin and become rich."

But sometimes your dreams will lose and after long days and months the platform is just a scam those dreams will blow up and now you think is the bitcoin becomes a scam because you think it is a wrong way all of the cryptocurrency right now is just a scan those are the common misunderstanding of the newbies about the use of the bitcoin so they believe bitcoin and other digital assets are a scam.

Still, there are some legit and not but we want to avoid and terminate immediately those platforms giving a bad reputation with the use of the bitcoin and crypto.