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

[Abiky]

The truth is yes, scams cause people to judge bitcoin as bad, but it's also a way for others to keep an eye on Bitcoin. A free advertising channel. Only those with real vision realize that bitcoin is not a scam but the currency of the future.
Over the past 10 years, there have been thousands of fraud allegations, but Bitcoin continues to rise in price. Bitcoin is now worth more than $ 10,000.

Agree. Only those with real vision about crypto/Blockchain tech, will distance scams from the pioneer cryptocurrency itself. Since most people believe what it's said in mainstream media, scams often harm Bitcoin's reputation in the mainstream world. No matter what malicious actors do in the mainstream world, they cannot stop Bitcoin from gaining traction. It's already been proven to be resilient in these times of turmoil. With due time, the crypto/Blockchain space will be able to mature as people become more educated about the subject. Only then, scams will have little to no effect over Bitcoin's mainstream adoption. The pioneer cryptocurrency has managed to gain new ATHs (All-time-highs) in price despite many negative events that happened in the industry over time. It's this resiliency that will keep Bitcoin going for years to come.

Nonetheless, crypto enthusiasts need to spread the word about Bitcoin's benefits to people worldwide in order to keep its reputation afloat. As long as there are active supporters of Bitcoin, its legitimate use cases will be expanded in the mainstream world. Let's hope that people get to know about Bitcoin better in order to create a positive environment for the crypto/Blockchain space in general. Just my thoughts

[kayvie]

I don't think so. There's a lot of scams happening in the crypto world that even reached those non-bitcoin users. It happens not only once or twice, it happens a lot of time that no one can even count. But we can still see how far bitcoin is right now, it still continues to move forward even after those scams, the only one who is affected with scams is the victim.

[TrevorS]

People have negative intention on scam. still many people are not familiar with crypto market. If they know scam on bitcoin, they won't join with it.

That's bullshit. Normal people first understand the situation and only then make a decision. We all know that bitcoin gives more freedom than ordinary money, scammers are happy to use it, but this does not mean that bitcoin itself is a scam. And any person who spends 15 minutes of their time will understand this. Those who base their opinions on other people's opinions from the media are probably not yet ready for cryptocurrency, because they will be the first to lose a lot of money due to their laziness.

[yazher]

They are affecting the reputation but through these years, everything come unto pieces where everyone has already enlighten that those scammers are the one who is using bitcoin all the time and they are taking advantage to those newbie investors to stole their money via making some fake investment company which will turn into scam after a few months or years. Right now, those kinds of accusations are not working anymore as you can see, one after another most of the big countries in the world are regulating BTC.

[Expecto]

I think scams are not harmful for Bitcoin's reputation. Because the thing we call "scam" is not just on the cryptocurrency industry. Scams also can be seen with fiat money too. There are people who are against Bitcoin and it looks like they will continue to try defaming Bitcoin.

[nasipadang]

Technically it is damaging, because whatever the form of crime if they use bitcoin as a tool to remove traces then bitcoin and cryptocurrency will get a bad impact from the crime. Anonymity is sometimes seen as a bad thing, bitcoin has that feature so people wonder "isn't that a bad thing too?". There are many other things technically that are indeed acts of scam or other crimes that have a considerable impact.

[Janation]

I think scams are not harmful for Bitcoin's reputation. Because the thing we call "scam" is not just on the cryptocurrency industry. Scams also can be seen with fiat money too. There are people who are against Bitcoin and it looks like they will continue to try defaming Bitcoin.

Based on what you said, this depends on what they are using to scam people.

Even before I knew everything about Bitcoin, I was also a victim of these scams and that made other people think that those people inviting people to earn money are a scam. In terms of Bitcoin, people in our country relate it to scam since there are a lot of scams that happened in the past years and they are using Bitcoin to make an exit to these schemes.

[Ronaldcoin2017]

I thinks scams can really harm bitcoin reputation, there are so many scammers in crypto feild and sometimes they used bitcoin to convince there victim so that they can easily get funds on them. I believe that because of the scams people will be afraid to invest in cypto and the trust of the people will maybe decreases and in the near future cypto will slowly down.

[el.virapotapova4]

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?

Yeah

[noorammak]

Scams do make bitcoin's reputation worse, but we need to think a little bit.
Normally, good things do not care about many people, but bad things are concerned and spread very quickly, abnormally fast.
So the scams also help significantly to propagate bitcoin to everyone. Those who are interested will learn about bitcoin and maybe they will choose bitcoin to invest or trade.
Every year there are indeed thousands of bitcoin scams, but bitcoin continues to increase in value and expand the network.

[Pamadar]

Technically it is damaging, because whatever the form of crime if they use bitcoin as a tool to remove traces then bitcoin and cryptocurrency will get a bad impact from the crime.

It will reflect indeed. As those who made the news always highlighted bitcoin to attract more readers attentions.

Anonymity is sometimes seen as a bad thing, bitcoin has that feature so people wonder "isn't that a bad thing too?".

Precisely. They think that because of that it covers everything around bitcoin and it's market.

There are many other things technically that are indeed acts of scam or other crimes that have a considerable impact.

Media always make it worse so impacts especially to those who are not really into this industry, they have that negative mentalities.

[bitzizzix]

I thinks scams can really harm bitcoin reputation, there are so many scammers in crypto feild and sometimes they used bitcoin to convince there victim so that they can easily get funds on them. I believe that because of the scams people will be afraid to invest in cypto and the trust of the people will maybe decreases and in the near future cypto will slowly down.

Yes, bitcoin's reputation is so damaging that they don't believe it, especially those who are new and who don't know and understand bitccoin more deeply which makes them hesitant to get involved in it.
Scammers will always be around because bitcoin or other crypto is very profitable for them even if they do it in the wrong and cruel way, what is important is convincing those who are new and well explained to stay and want to get involved with bitcoin or other crypto.

[Janation]

They definitely damage the reputation of the industry and slow down its development. But unfortunately, there is nothing we can do to change this completely.

It does damage the reputation it has but I don't think it would slow down development.

With the price increases, more and more people are using Bitcoin and that also means having a lot of transactions. The developers have seen a lot of things just from that and we are not even in a massive adoption that we wanted for a long time. We can change this by giving them information that could prove that this is not a scam, still it is on them whether they wanted to use it or not.

[kolbalish]

This is conceivable because most people have pessimistic notions. Although in my sentiment, the scam is through bitcoin but the culprit is not Bitcoin, the one who scams.

[Sapphire915]

Absolutely, yes. Scams really harm the reputation of Bitcoin especially that there are still lots of people now anywhere who think negative about it despite its popularity. This could affect too much in a bad way possible. But, somehow, we cannot really control the minds of those fraudsters who keep on destroying Bitcoin's reputation anytime they want to. The only thing that we could do, is to at least very keen/very careful in trusting to anyone and properly secure all our wallets, personal data and every important things that we have here in digital world, more so in blockchain industry.

[Kong Hey Pakboy]

Scams or frauds are sometimes the main reasons why bitcoin's price decreases because other countries will start to banned bitcoin or cryptocurrency to avoid this kind of illegal activity. So it is obviously ruining bitcoin's reputation that sometimes news and articles are using the wrong headline, saying bitcoin is a fraud investment, which other people find bitcoin is a total fraud. But the truth is people only used the word bitcoin and cryptocurrency to scam or to trick people.

[Igor17Krik]

Of course, scammers are hurting the development of cryptocurrencies, but it seems to me that bitcoin is becoming more stable. Scammers all over the world are looking for ways to make money fraudulently. It's safe to say that scammers around the world have stolen more dollars than bitcoins. They don't care what to steal.

[starseeker]

Sure people were scamming others right since the inception of bitcoin. But that stupid twitter hack made it mainstream.

[JohnBitCo]

Of course, scammers are hurting the development of cryptocurrencies, but it seems to me that bitcoin is becoming more stable. Scammers all over the world are looking for ways to make money fraudulently. It's safe to say that scammers around the world have stolen more dollars than bitcoins. They don't care what to steal.

The scams do harm the bitcoin reputation in the world. Some new people thinks that keeping money in bitcoin is not safe as it can be hacked anytime. Others who have no knowledge of bitcoins, when they hear these news, this give them negative impact about the digital currency and they never think of investing in it.

[Janation]

Sure people were scamming others right since the inception of bitcoin. But that stupid twitter hack made it mainstream.

Bitcoin is not at fault there.

Take note that Twitter's security is breached by a kid making their platform's security unreliable. The point here though is that people should not believe such things with easy money. The hacker used Twitter to send the people's Bitcoin in their wallet, if anyone should be blamed here it is Twitter's security and the hacker, not Bitcoin.