Price increase = scam increase - BE CAREFUL, friends

[friends1980]

At first, I was planning to post this in my DYOR thread, but when I noticed this scam risk on the Dutch local board, I changed my mind as it seemed more appropriate to start a new thread for this.

Current prices are luring in many scammers to these boards.

Even if you have only recently discovered Bitcoin or only recently taken the step of investing in crypto, please DO NOT LET YOURSELF BE SEDUCED by these getting-rich-fast schemes. Don't let frustrations about being a late investor, cloud your judgment. That is exactly what these scammers are anticipating. But these offers are simply untrue, and at current prices, the only true risk is getting-poor-fast!

There's a very easy way to think soberly about these interesting business proposals.

Before accepting an offer that's too good to be true, just ask yourself this simple question: why would people want to share their part of the cake at the time when crypto prices are reaching all-time highs?

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[noorman0]

In the context of bitcoin's journey towards the second ATH it has the lure of crypto newcomers to enter. On the other hand, this is an opportunity for scammers to get many victims.
The scam continues with new schemes that make it difficult to identify especially for beginners. Scammers learn from past experiences how they are caught. Even these days, scammers are openly advertising their offers on various well-known content and social media sites. Sadly, we can conclude that scammers always get in the way of newcomers from learning how crypto works by causing some frustration in the beginning.

[Welsh]

Not only do scams tend to increase, those falling for them tend to increase too due to the desperate nature of trying to get the new highly valued coins. However, as always its always recommended to stay away from things that sound too good too be true, and use backup options such as a trusted escrow to secure the deal. Unfortunately, due to the nature of the online world, relying on a third party escrow is probably essential, unless you're dealing with a significantly prominent user on the forums. Even, then there's only a few users that I would trust with large amounts of Bitcoin, and that's because they've got a proven record of handling larger amounts than I would trust them with.

[HabBear]

I'd debate that price increase this fast will cut down on scams. No one is keen to get rid of their bitcoin when the price is soaring, which is really the catalyst for a scam to take place...the hodler has to be willing to give bitcoin to someone for any reason.

The scam attempts may go up, but i bet they'll be less successful.

As anyone heard of bitcoin scams recently? I haven't seen much in the news...would love to hear about what big bad things have been happening.

[Coyster]

As anyone heard of bitcoin scams recently? I haven't seen much in the news...would love to hear about what big bad things have been happening.

I haven't as well, and as btc's rise continues, I hope it stays that way so the only news on the media about Bitcoin will be positive. People prolly now know better that btc isn't some scheme to get rich quickly, if one didn't invest earlier on before this bull run started, you shouldn't get affected by FOMO, but carefully analyse the market, and when to get it next, but if you're looking to earn some from either giveaway (scams), Ponzi or any other quick means, then sorry, you're going to be scammed.

[hatshepsut93]

There might be something psychological going on here, people who get into Bitcoin at the times like these, where price skyrockets and sets new highs every day, they are so amazed by this that they lose all their critical thinking and fall victim of things like coin doublers. which they wouldn't do if it was a fiat currency that they are used to. Newbies don't understand that Bitcoin's decentralized and pseudonymous nature means that you should be extremely careful with every transaction that you make, there's no way to return your money once you have sent them.

[abdulodoi]

It is quite normal for people to FOMO into crypto when prices are increasing. Take for example bitcoin keeps surging with very minimal retrace. News keeps going around with crazy predictions. If people are investing in bitcoin, it's less risky off course but with several shitcoins creeping up people will surely fall for scam.

The most important is for people to DYOR before jumping into investing in just any shitcoin pumping. Better to buy at the bottom than at the top then get rekt

[friends1980]

There might be something psychological going on here, people who get into Bitcoin at the times like these, where price skyrockets and sets new highs every day, they are so amazed by this that they lose all their critical thinking and fall victim of things like coin doublers. which they wouldn't do if it was a fiat currency that they are used to. Newbies don't understand that Bitcoin's decentralized and pseudonymous nature means that you should be extremely careful with every transaction that you make, there's no way to return your money once you have sent them.

Exactly. Here's another recent one, again in the Dutch local boards. At the moment we've got more investment proposals than active members in the Dutch boards

Guy offers to buy BTC for fiat. He's got only 6 posts, mostly in Russian, no Trust, no Merit etc. Impossible to prove he's a scammer, of course, but it's nonetheless fishy as hell.

[Welsh]

I'd debate that price increase this fast will cut down on scams. No one is keen to get rid of their bitcoin when the price is soaring, which is really the catalyst for a scam to take place...the hodler has to be willing to give bitcoin to someone for any reason.

The scam attempts may go up, but i bet they'll be less successful.

As anyone heard of bitcoin scams recently? I haven't seen much in the news...would love to hear about what big bad things have been happening.

Bitcoin scams on a small level never reach the news, and as indicated by several users scams seem to be more prevalent within local boards. Obviously, this doesn't make it true, and could be a placebo effect. But, just because you aren't hearing of it in the news, just means there hasn't been any large scale thefts. The news usually picks up on multiple hundreds of thousands worth of scams, or if exchanges, or wallets have been broken into. There's a huge  economy outside of exchanges, and that's where you'll see the petty criminals trying to scam small amounts of Bitcoin. This is why its so common for new users to be looking to scam, because they have no idea how to get into Bitcoin, or even earn it. So they resort to scamming others. This, obviously isn't true for the vast majority of new comers to Bitcoin, and the forum, and unfortunately these users are the biggest targets, because they may not know about trading precautions that should be followed.

[Taskford]

At first, I was planning to post this in my DYOR thread, but when I noticed this scam risk on the Dutch local board, I changed my mind as it seemed more appropriate to start a new thread for this.

Current prices are luring in many scammers to these boards.

Even if you have only recently discovered Bitcoin or only recently taken the step of investing in crypto, please DO NOT LET YOURSELF BE SEDUCED by these getting-rich-fast schemes. Don't let frustrations about being a late investor, cloud your judgment. That is exactly what these scammers are anticipating. But these offers are simply untrue, and at current prices, the only true risk is getting-poor-fast!

There's a very easy way to think soberly about these interesting business proposals.

Before accepting an offer that's too good to be true, just ask yourself this simple question: why would people want to share their part of the cake at the time when crypto prices are reaching all-time highs?

Holiday + current price increase what makes scammers eager to deceive people that's why we need to be careful on trusting new people over the net especially if they are offering us something unimaginable return of profits. And it's good also to educate and open up a talk like this since if newbie could read this they can get an idea about those scams and learn something good for their investments here.

[plvbob0070]

With the positive progress of the market, investors think that it will be a big loss and regret if they don’t invest their funds immediately. However, that fear influences their decision-making process with their investments. It usually leads to a negative outcome, as they are credulous in fraudulent investment schemes, with the thought of earning a massive gain. What they don’t understand is that defrauders are using the circumstance to trick their hapless victim to invest. Though they still fall for it, even if there’s an obvious sign that it is just an empty promise.

[mk4]

I'd debate that price increase this fast will cut down on scams. No one is keen to get rid of their bitcoin when the price is soaring, which is really the catalyst for a scam to take place...the hodler has to be willing to give bitcoin to someone for any reason.

It actually makes sense though. The scams mostly advertise that they could multiply the victim's bitcoin by varying percentages, so it would make sense that due to greed from the increasing price and the attractive scam offer, that the victim would attempt to earn more money. History would simply repeat itself just as it did in 2017, with just a different group of people.

[lovesmayfamilis]

There is a lot of positive news today about Bitcoin's rise. Here greed works together with ignorance. Fraudsters on social networks and messengers promise big profits if people invest in their scams. However, today one can, in a sense, observe the times of ICOs, when many were in a hurry to invest in projects, watching the growth of bitcoin, and did not think at all about a complete check of all important flags by which can identify the scam.
I cannot say that people have become more literate. Newbies come, and they also fall for scammers.
There is only one effective method of not being deceived. This method is called its own errors. Only after experiencing everything on their mistakes, people begin to think and be careful. For all other advice, many remain deaf.

[Husires]

scam comes from the stupidity of people so easily making profits and believing them for all the projects that are offered to them. It is a mixture of ignorance, the desire to make a quick profit and greed.

All of them do not use the voice of reason. Rather, the appetite for greed rises, especially when hearing the stories of people who have made millions of dollars from the high price or from the fluctuation that occurs because of the price.

[AakZaki]

Chaff get rich quick is just nonsense, only a scam that takes advantage of the ignorance of others with the lure of getting a bigger profit. When the price of crypto or in this case Bitcoin reached a high price and almost reached a new ATH, many scammers began to spread their hopes to benefit from some people who do not fully know the world of cryptocurrency. and the most fraudulent at this time is the DEFI project which provides a get-rich-quick scheme with profits that can reach hundreds of percent.
We also have to be on the lookout for new projects that make promises of huge profits. Deception is everywhere and doesn't look at anyone.

[2double0]

FOMO kills the potential wins and also destroys a user's brain and controls it and when a 'newbie' or a 'noob' enters crypto, they only look for quick money because of the bad representation being served through the introducing people who tell them that "crypto is a gold mine, and you only need to jump in and find it". If things are done in a systematic way, it is sure that noobs can make money but falling for traps like 'withdraw somebody's btc, selling btc to or buying btc from an unknown user, etc.' should get stopped in near future.

[Twinkledoe]

Chaff get rich quick is just nonsense, only a scam that takes advantage of the ignorance of others with the lure of getting a bigger profit. When the price of crypto or in this case Bitcoin reached a high price and almost reached a new ATH, many scammers began to spread their hopes to benefit from some people who do not fully know the world of cryptocurrency. and the most fraudulent at this time is the DEFI project which provides a get-rich-quick scheme with profits that can reach hundreds of percent.
We also have to be on the lookout for new projects that make promises of huge profits. Deception is everywhere and doesn't look at anyone.

Also, be aware of phishing websites imitating like the MEW or Uniswap. Popular crypto websites are favourites to be copied by scammers and changing just one letter or spelling in their domain name, to catch naive users. If you want to create your wallet, make sure you are on the legit site as there many fraudulent sites trying to rip users' funds. For newbies here, you can go to scam accusations board and check for potential scam sites (https://bitcointalk.org/index.php?board=83.0).

[Apostlekin$$$]

Good point, now that crypto is looking so greenish be prepared for unexpecting crypto projects that will come out of nowhere to raise fund, also there will be more scam bounty projects too, looking for inexperienced bounty hunters to promote their scam for them, now is the time to be ten times more careful

[Lorence.xD]

Good point, now that crypto is looking so greenish be prepared for unexpecting crypto projects that will come out of nowhere to raise fund, also there will be more scam bounty projects too, looking for inexperienced bounty hunters to promote their scam for them, now is the time to be ten times more careful

I noticed this in my social media feed, right around the turn of bitcoin price to 15k, more scams are popping up although they are not projects, most of them are HYIP showing the price of bitcoin in local currency as a proof that their investment is worth it. Good thing most of the projects do not attract any potential victims and if I ever see one trying to join the program, even if they are stranger, I message them directly to explain that what they are going in might lose them some money.

[skarais]

Increasingly fraudulent attempt at a time when bitcoin price are getting higher is normal in my opinion. This has been happening for a long time and even this effort continues when prices fall. Remember, scammer are never happy if they haven't hit their target. Therefore, being careful and aware as early as possible regarding fraud under the guise of investment is something that must be done. Don't force yourself to be greedy people, bitcoin is not a get-rich-quick scheme. This is a reasonable warning we say to anyone.