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

[bitsurfer2014]

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

The answer is yes. People hold the thought that you invest in bitcoin or cryptocurrency with money you can afford to loses. This means that the general perception of the average investor in bitcoin or cryptocurrency is at risk. There is always this fear. Certainly, such fear has an effect on the reputation of bitcoin.

On the brighter side, I still think these media exposures and negative publicities could in some way give some benefits to Bitcoin itself since these scam news help spread to introduce more people to Bitcoin which holds true to a popular phrase that states that "there is no such thing as bad publicity"!  

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[Yatsan]

Actually it is a yes. Scams are really giving bad image, impression and reputation to Bitcoin and the cryptocurrencies as a whole because whenever people are hearing out of cryptocurrencies or even just Bitcoin itself, they have a perception that it is a scam scheme and they must distance themselves from engaging into it which makes the mass acceptance and adaption be so difficult to make happen because of the scam accusations being thrown to the cryptocurrencies. The cryptocurrencies must not be blamed on such but the people behind those schemes.

Mainstream or the media publicizing such thought makes people to get afraid on getting into cryptocurrencies which is obviously a bad publicity for the whole industry though it is in need to inform people that such thing is really happening to raise awareness, but the bad impact on it is that people are doubting to get engage in a thought that they might get victimized as well.

I'd just to find out that most news are so unfair, they only saw the negative and published it but never got into the scenario that they praise Bitcoin because it is very helpful to the people especially in today's situation.

Honestly, that was just a sad truth about mass media that sometimes they are on a one sided broadcasting making the image of a certain subject looks bad or good depending on how they will coverage the whole scenario.

[Anonylz]

I think it does has a negative impact on btc reputation, it is not easy to hear a hack or scam activity from a company or business and be cool with it, this also affect the trust of investors, they may feel insecure and wonder if their investment is safe, who knows maybe such bad behaviour are among the reason why adoption is slow, why many people are having cold feet to come in.

[Peanutswar]

Right now there are a lot of websites and other platform that is itnroducing that they are using the bitcoin and this is a good thing because they are helping the community to take an action with the use of the bitcoin but we cannot deny some of those platform are using the name of the bitcoin just to scam other people. By that it has now an impact to the world if those people doing a scam with the use of the bitcoin it gives now a negative feedback to the image of the bitcoin.

Instead they are trusting those coins right now they make a conclusion that all of the transactions are scam with the use of it, some of them right now are telling that the cryptocurrency is just a scam and not a safe to work.

[rollingdice]

Looking from a positive side, scams help Bitcoin to become more popular.

[piebeyb]

not really, just look at a lot of people who are famous because they do bad things, same as bitcoin if there are users or people who make a bad name bitcoin because of hacking problems or whatever, I don't think it looks bad forever, if the positive side should be bitcoin will be known to many people and they will learn more about what bitcoin is, when they know bitcoin from the news on television or other media even though it's something bad but indirectly at the same time they are campaigning for bitcoin

[Shasha80]

If we talk about the mainstream world, of course, a group of people who are less knowledgeable about Bitcoin.
So they will be more defensive if aware of the scams. Therefore scams greatly affect Bitcoin's reputation, the more
scams that occur. So the slower the adoption of Bitcoin will be, it's no wonder the number of Bitcoin users until
now is fairly small.

[cabron]

Looking from a positive side, scams help Bitcoin to become more popular.

I think so too.  It helped bitcoin put in the media which made people look into it. It should be interesting because twitter accounts are owned by popular persons.

People had been hearing all these scams using BTC in the past and if its really a scam BTC could have been dead after years but it kept surviving over and over, certainly people sees BTC to be legit.

[Shohag123]

If anything occurs related to bitcoin or cryptocurrency specially scams or hack ,media highlight the bitcoin and people who doesn't know about bitcoin they think bitcoin is a ponzi scheme.Recently because of twitter hack many people got know about bitcoin and by reading news they must have a negative thoughts about bitcoin.And it directly or indirectly prohibit the new users or investers coming to cryptocurrency.And even I got to know about bitcoin because of blue whale game.Back then I have also thought it is a scam.

But people shouldn't blame or having a negative thoughts about the system sush as bitcoin or crypto the scammers are using instead people should blame the hackers or scammers.

[ethereumhunter]

I think it does has a negative impact on btc reputation, it is not easy to hear a hack or scam activity from a company or business and be cool with it, this also affect the trust of investors, they may feel insecure and wonder if their investment is safe, who knows maybe such bad behaviour are among the reason why adoption is slow, why many people are having cold feet to come in.

That can make people out there will believe in bitcoin because they don't see that bitcoin can be a good thing. But if we can spread the advantage of bitcoin to them, I am sure that they will realize that bitcoin is like the money which can be used for good and bad things, and that will depend on us how we will use bitcoin. When many people can use bitcoin for good things, the bitcoin reputation will lift, and more people will join the crypto world, and that can make crypto can be accepted in all countries.

[Insanerman]

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?

That latest twitter account hacking issue on well known personalities is one of the most clever way I've heard about scamming.
Sadly, a lot of innocent and hopeful people were scammed through that.

These kind of frauds might affect one's thoughts and views about bitcoin, preventing them on investing on it or even using the technology.
Worst case is that they might tell others and convince them that bitcoin or any other cryptocurrencies are just scam. However, bitcoin do not took a lot of damage from it.
In fact, bitcoin is continuously being more accepted worldwide.

[jossiel]

Looking from a positive side, scams help Bitcoin to become more popular.

That's the publicity stunt. Positive or negative publicity is still publicity.

For the eyes of the non-bitcoiners, they'll look to it negatively just like how the media are portraying the bad sides of bitcoin. But understanding the real effects of it for those people who can potentially be part of this community is bad.

Instead of them looking for more and craving to learn more about bitcoin, once they have read or watched that displays the bad image of bitcoin, they'll stop learning on it.

[AniviaBtc]

It is pretty obvious, absolutely yes, it really affect the bitcoin's reputation.

Who wants to get scammed? No one wants to be scammed so these criminals are the main reason why bitcoin is less likely to widen its community immediately. Also, those haters of bitcoin who thinks that fiat is the best, they are destroying the image of bitcoin towards ignorant people. We can counter that if we fully support the existence of bitcoin in the market and we continue using it as time passes by.

[rodskee]

Looking from a positive side, scams help Bitcoin to become more popular.

That's the publicity stunt. Positive or negative publicity is still publicity.

For the eyes of the non-bitcoiners, they'll look to it negatively just like how the media are portraying the bad sides of bitcoin. But understanding the real effects of it for those people who can potentially be part of this community is bad.

Instead of them looking for more and craving to learn more about bitcoin, once they have read or watched that displays the bad image of bitcoin, they'll stop learning on it.

Another side effects of those negative media publicities. Curiosities will strike this people
and begin to look for this venue of investment.
We can't deny the fact that the first impression will take effects and will last long but we
should also consider that there are people
who loves adventures, and also ready in taking the risk of participating and journeying
inside this business.

[jossiel]

Looking from a positive side, scams help Bitcoin to become more popular.

That's the publicity stunt. Positive or negative publicity is still publicity.

For the eyes of the non-bitcoiners, they'll look to it negatively just like how the media are portraying the bad sides of bitcoin. But understanding the real effects of it for those people who can potentially be part of this community is bad.

Instead of them looking for more and craving to learn more about bitcoin, once they have read or watched that displays the bad image of bitcoin, they'll stop learning on it.

Another side effects of those negative media publicities. Curiosities will strike this people
and begin to look for this venue of investment.
We can't deny the fact that the first impression will take effects and will last long but we
should also consider that there are people
who loves adventures, and also ready in taking the risk of participating and journeying
inside this business.

Yeah for those curious people but for those who have lost their trust, wouldn't do the same unless something happens in the future which shall shake them and push them to search about it.

Honestly, the first impression of bitcoin has been there all around even before and it won't just die in an instant. But what's the positive side is that it's changing and it's all due to the institutions which is being trusted by most people in terms of finance.

[supine]

Scam would always harm the reputation of whatever they are using specially crypto.
We have seen so many investment and other scam wrecking the reputation of other business so it wouldn't change even in Bitcoin.
Scam would always have a negative effect in the mainstream world.

[Asuspawer09]

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 guess for some experienced users in bitcoin and ryptocurrency or someone that trade bitcoin or invest in bitcoin scams doesn't really go to affect them since they already understand how it works.

But for people who don't really have knowledge about bitcoin having scams could affect how they see bitcoin or affects the image of bitcoin having a bad reputation. The more people see bitcoin scam in the news the more they are hesitant to understand it or invest in it.

[pixie85]

I think it does has a negative impact on btc reputation, it is not easy to hear a hack or scam activity from a company or business and be cool with it, this also affect the trust of investors, they may feel insecure and wonder if their investment is safe, who knows maybe such bad behaviour are among the reason why adoption is slow, why many people are having cold feet to come in.

How do you measure reputation?

The way we perceive any news about bitcoin will be much different from the way a corn farmer or a banker will see it. The more you have to do with technology and investments the less mainstream media news will affect your judgement.

Adoption is slow because people need a reason to switch to decentralized money. The crisis in Venezuela is one of those reasons. The adoption there rose when their fiat money lost value.

[dimastegar]

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 so. Negative actions such as scams and coin theft greatly affect Bitcoin's reputation. I'm sure most of the people who are victims of the scam, have some sort of regret because of it.
However, if you think about it from the beginning. All cryptocurrency users should be ready for this risk. Because basically we hold a digital asset, which is vulnerable to being hacked. But I always throw away negative thoughts about crypto, and do not carelessly invest in shitcoin that can harm me.

[J.Amador]

Yes it will harm Bitcoin's reputation because people will think Bitcoin is a scammer and they don't want to invest in bitcoin. Because they afraid  to loss their money I know people in this world want to secure their funds for the future  because of scam people losses their interest in bitcoin because they think if they invest money un bitcoin maybe ther will be scam