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

[Abiky]

Due to the high rate of ponzi schemes and scam projects in the crypto sphere has made most people to be weary of bitcoin, but to me that doesn't change the fact that bitcoin is the currency for the future, there will always be some bad guys who will want to take advantage of others that's why there are ponzi schemes, and I don't think all those bad reviews will affect the reputation of bitcoin, i have seen alot of anti-crypto's change into crypto lovers now, bitcoin is turning doubters into believers.

Exactly. Most people are skeptical about Bitcoin, especially when scams are lurking around in the crypto/Blockchain space. They're afraid they'll lose all of their money in an instant, as they become a target of hacks and theft. Knowing that the responsibility of securing your funds in crypto lies in yourself (instead of a third-party), it's difficult for people to adopt it seriously as they would with Fiat. At least, Bitcoin's decentralized and open source nature will keep it going for many generations. It seems to me that Bitcoin will reach some level of maturity sometime in the future, where negative comments about it will have little to no effect over its prominence in the mainstream world. The more Bitcoin's legitimate use cases are expanded, the better it'll be for its acceptance worldwide.

Nonetheless, time will tell us what lies ahead with Bitcoin as governments devise new regulations to try to control the revolution. If they're successful at it, Bitcoin will see constant praise by centralized entities (banks, companies, startups, etc). Otherwise, Bitcoin will become a constant target of attacks by its critics until its reputation goes down the drain. Only then, true believers/supporters/followers will use it while the rest will carry on with Fiat as usual. As long as Bitcoin remains alive regardless of conditions in the mainstream world, nothing else matters. Just my opinion

[ven7net]

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 believe that any negative always has a bad influence, this also applies to BTC. However, you always need to understand the purpose of this negative. On the one hand, negative news can show that BTC is not reliable and you need to get rid of it, on the other hand, the same negative news deceives you in order to get hold of your BTC. The main thing is to try to see the big picture and trend. Not all negative news is aimed at discrediting, there are those that force us to study BTC in more depth and give us the opportunity to learn to understand what blockchain and cryptocurrencies are.

[Abiky]

I believe that any negative always has a bad influence, this also applies to BTC. However, you always need to understand the purpose of this negative. On the one hand, negative news can show that BTC is not reliable and you need to get rid of it, on the other hand, the same negative news deceives you in order to get hold of your BTC. The main thing is to try to see the big picture and trend. Not all negative news is aimed at discrediting, there are those that force us to study BTC in more depth and give us the opportunity to learn to understand what blockchain and cryptocurrencies are.

As with anything, naysayers will always try to spread negative comments about something in order to discourage people from using it. It'll be up to the person himself in order to determine if it's worth considering or not. Anyone can say anything about Bitcoin, but what matters are facts more than anything else. By doing your own research, you can find out if what it's said out there in the mainstream world about Bitcoin is true or not. But most people don't to do this since it's time-consuming. The general public will continue to believe government's lies about Bitcoin, while Fiat currencies continue to be "glorified" in the mainstream world. At least, the revolution will continue to grow thanks to loyal supporters behind Bitcoin in crypto land.

As far as scams are concerned, there's nothing we can do about them. The crypto/Blockchain space is widely unregulated, largely because of its decentralized nature. One would expect a larger degree of scams on Bitcoin, than Fiat itself. This definitely harms Bitcoin's reputation in the mainstream world, as people become afraid of losing all of their hard-earned money in an instant. That's why it's important to educate people about Bitcoin, in order to maintain confidence in the mainstream world. As long as Bitcoin provides legitimate use cases for the world, it'll receive the approval of governments worldwide. Just my opinion

[elisabetheva]

Unfortunately, fraud in general undermines the image of any asset as for bitcoin, since most people think that bitcoin is another scam and this is due to various kinds of actions, for example, there are scammers who call people and ask for their card details and then buy bitcoin through unlicensed exchangers. cardholders don't even know about it and then they say that bitcoin cheated them and there are a lot of such cases

It seems that the fraud that occurred was told by my friend because the knowledge of people who were deceived by bitcoin did not know in detail what crypto was, including bitcoin. It is clear that if this is done, it will be difficult to trace bitcoin transactions whether they have actually been received or have indeed been transferred to a non-original wallet. Trusting someone to make bitcoin transactions without us knowing how the transaction is tantamount to us giving money to that person for free, so people will think that bitcoin is a scam, actually it's not bitcoin that is a scam but is the person who made the transaction who deceived him.

[Spone7]

Sadly the answer is yes. Because there are many fake projects which comes in block chain industry are making scams by getting users social media informations. And even the hackers who hacks twitter facebook Instagram accounts and demanding for btc etc. are really common in these days because the bitcoin is the backbone of the crypto industry the image of bitcoin is suffering in recent time but these incidences also made bitcoin a hot topic too.

[Abiky]

It seems that the fraud that occurred was told by my friend because the knowledge of people who were deceived by bitcoin did not know in detail what crypto was, including bitcoin. It is clear that if this is done, it will be difficult to trace bitcoin transactions whether they have actually been received or have indeed been transferred to a non-original wallet. Trusting someone to make bitcoin transactions without us knowing how the transaction is tantamount to us giving money to that person for free, so people will think that bitcoin is a scam, actually it's not bitcoin that is a scam but is the person who made the transaction who deceived him.

That's certainly true, mate. Bitcoin's complexity makes it hard for anyone to use it properly in the mainstream world. Most newcomers into crypto lose their money as they become victim to scams, due to the lack of knowledge in the industry. Only tech-savvy people will be able to protect themselves against malicious actors in cyberspace. Scams, combined with negative comments spread by governments and mainstream media, will greatly damage Bitcoin's reputation in the mainstream world. There's nothing we can do about it other than enlighten people about Bitcoin's true benefits relative to Fiat. As long as there are people using Bitcoin, nothing else matters.

Nonetheless, it looks like Bitcoin's legitimate use cases are expanding. With heavy-handed regulations by mainstream governments, scams and theft could be reduced to a minimum. People will be mostly driven into Bitcoin because of its ever-increasing price on the market. The rest will use it seriously as an alternative to Fiat. Whatever happens with Bitcoin in the future, there's no denying that Blockchain tech will change our lives forever. Just my thoughts

[Daryl_Dixon]

People will use bitcoin well and these rumors can not take the future of bitcoin. Hacks and hacks have existed throughout history and what is important is the unique function of bitcoin.