Reason for calling Bitcoin scam

[acroman08]

to be honest I think one of the reasons why people think it is a scam is that they have no idea what it is or because it was created by an unknown man/group or whatever you believe and does not have a central authority to govern and regulate it to ensure people that it is safe to use.

[coolcoinz]

What people? I don't know anyone who thinks that it's a scam and I'd be happy to discuss this with them and explain to them why it is not. From time to time I see troll posts where people say it's a scam, but given argumentation they answer something like "you'll see that I'm right when it dies and whole world will say it's a scam, you'll be sorry". Such people are not worth your time. There are some true non-believers, who say that decentralized economy cannot work, but it's something for a much longer post.

[sapnu]

the longer the year or the more advance we are the more the scams also .

thats why theres always people will say that btc was a scam but i guess the number of it has greatly been reduced and will now be reduced more now that many corporations are now introducing paypal to thier service .

we are now on the 21first century and we are now civilized or modernized in other words , that why there are internet and computers . btc have never been different to them .

Absolutely, as time passes by, the technology also innovating and there are lots of people who can really adapt very well and taking that advantage to scam other people which is not really good, that is why we need to be more intelligent on what we are doing, it is easy to gain some information about the technology so we should not be left behind. We should be more careful online since scams nowadays are through online transactions and on websites. People who are saying that bitcoin is a scam are the ones who are being scammed by other people, and sadly they are being scammed by people who want bitcoin and not bitcoin itself. We all know that.

[MCobian]

The reason that has been mentioned in the opening post is true, because there are still many people who call Bitcoin a scam.
Even though there is already a lot of evidence that shows Bitcoin is legitimate, but still it can't make everyone like Bitcoin,
there are some people who have always hated Bitcoin. Therefore there will always be people who call Bitcoin a scam,
it's not because they lack knowledge of Bitcoin, but those who hate Bitcoin reject the existence of Bitcoin.

[Vaskiy]

to be honest I think one of the reasons why people think it is a scam is that they have no idea what it is or because it was created by an unknown man/group or whatever you believe and does not have a central authority to govern and regulate it to ensure people that it is safe to use.

Agreed, even after hard analysis it is impossible to get a clear information relative to the existence and growth of bitcoin. People who doesn't have better understanding about the true market of bitcoin term it a scam. The same person will be having entirely different view/opinion once after getting used to it.

[mangsitin]

only stupid people say bitcoin is a scam, I understand that the volatility of bitcoin is very fast and difficult to predict, but the volatility of bitcoin for me is not a scam, I understand that the whales control the bitcoin market, but I also see that the bitcoin market in the trading world cannot be manipulated.  I don't care about people who hate bitcoin, because they can't influence my belief.

[oktana]

In addition to this post the bankrupted and outdated popular ponzi scheme MMM once used bitcoin as a means of deposit and payment unfortunately when the scheme collapsed alot of people opinionated that the scheme and bitcoin are related and used to scam investors thus lack of knowledge about bitcoin discouraged many intending investors in investing in it. its quite very challenging to convince and change the mindset of such investors because of the bad impressions and experiences they encountered while involving in MMM.

Are you sure about this MMM scam? I asked a friend who was a participant of it and he said that he never heard that bitcoin was accepted, and that payment and deposit was made in fiat. So I'm thinking that it didn't really affect bitcoin. Maybe a bit.

[Rengga Jati]

Maybe the real reason is that they don't really understand Bitcoin and they believe more in the bad issues that Bitcoin is blowing. Or perhaps their experience was bitter with Bitcoin for the first time. either they are exposed to the platform scam or lost in trading. This can also happen and spark someone's thinking about Bitcoin is a scam.

 1.   Maybe because it's not visible, some people believe in what they can see , feel and touch ,

For this, if we have already been usual with investment, it will not matter because there are also some digital investments. And if they still do not believe because it is not visible and touchable, I really feel pity for them, because they may be lack of technology.

[Debonaire217]

only stupid people say bitcoin is a scam, I understand that the volatility of bitcoin is very fast and difficult to predict, but the volatility of bitcoin for me is not a scam, I understand that the whales control the bitcoin market, but I also see that the bitcoin market in the trading world cannot be manipulated.  I don't care about people who hate bitcoin, because they can't influence my belief.

Basically if you have a positive experience from bitcoin, you will not say anything against it. Perhaps, these people just lost al lot becuase they either Fomoed or bought in a wrong price and is not patient enough to hodl it.

One thing for sure, the influence of social media made it much harder for other people to understand people as they are learning from opinions not by facts. I can say, some people I know say that Bitcoin is a scam just because they heard it somewhere, without really knowing that Bitcoin gave them the absolute freedom to choose how they will use Bitcoin in their lives.

[ekeh]

The world is really changing from analog to digital, for example covid-19 pandemic really open people eyes to know that learning can also conduct online perfectly, which we believe on, and it works perfectly, secondly we stayed at home and watch football live at any country league and we believe on the final results score, even if you did not watch the match events, therefore some set of people say bitcoin is a scam, I think them need more knowledge to develop them self. Because world is really changing into digital.

[Cryptogainz]

Back in 2017 so many people rushed to get some bitcoin (FOMO) and then it crashed.

they panicked and sold, lost thousands of $$$ and then cried scam.   

they probably still call it a scam to this day now. i still hold the bitcoin i bought in 2017  

[AicecreaME]

There are numerous threads already regarding this topic. I suggest you look into it for additional information. But to directly answer, this is because of various reasons such as people are easily deceived and some easily fell to the trap of the scammers, hence losing trust to bitcoin. Another thing is that there are way too many ponzi scheme and they keep associating and relating this to bitcoin that's why people are afraid to trust bitcoin and keep telling it is also a kind of scam.

Another big factor is that many people are still not knowledgeable enough about bitcoin. They lack the in-depth understanding of cryptocurrency that's why it's easy for them to assume and believe fake news and unverified information about it. Bitcoin's reputation is long before tainted because of the said reasons. It can always redeem itself by proving the users otherwise. They just have to keep in mind to know and research before diving into it seriously as bitcoin's price is volatile.

[Mr.sprin]

I am sure at this time no one has said bitcoin is a scam because bitcoin is already known by many people, especially the fantastic price of bitcoin and many people who have sold bitcoin and got fiat. People who say Bitcoin is a scam, they don't know digital currency.

[Question123]

That is not only an answer why other people think bitcoin is scam because other reasons too, there is a lot of possibility that the others will experienced the scam investment in the bitcoin why people are thinking it is scam.

But not all because most of us are believe to the bitcoin and we are still here working with it because we know it is legit and I hope the others who think bitcoin is scam will research first before judging that the only scam is the person who do bad things not the bitcoin.

[kayvie]

 1.   Maybe because it's not visible, some people believe in what they can see ,feel and touch ,

This is possible. But one thing for sure why they call it a scam, they don't have enough knowledge about bitcoin. This is not about seeing it physically but more on how they see it. And since people prefer to judge something even without knowing anything about it, they can easily judge. That is the same in bitcoin, people who don't know about bitcoin is afraid of it and tend to call it a scam because they just wanted to avoid it for not knowing anything.

[AniviaBtc]

The main reason why people are thinking that bitcoin is a scam is that it is not easily stored in a wallet and you need devices to access it.

People will probably settle in a fiat currency than bitcoin if they are knowledgeable about it so expect that mindset to come from them.

All that we need is promotion and adoption from its community so that we can build more reputation and let people know that bitcoin is not a scam. Although there are still scams that are circulating in many famous applications or website, we need to fight that and report all of those so that we can make other investors aware about that.

[Latviand]

To me, the main reason is because people are being scammed using bitcoin, so people then choose to hate it and then called it scam mostly out of the frustrating it brought them. I'm talking about people who are scammed in the name of investing in bitcoin. Another reason could be the blackmailers; those who don't want bitcoin to be globally adopted so they accuse bitcoin to be scam hoping that people don't choose to use it and will misunderstand it's use.

Bitcoin community should be aware about this especially those who are newbies that is the main victim of scams.

They are getting scammed because they think that bitcoin is easily achieved and stored. They think that if someone tells them that there is a bitcoin giveaway, they will immediately react to that and become their victim. Also, people are really easily attracted in easy money and bitcoin is not like that.

[BALIK]

But to give you an idea to how I view this, Bitcoin has been called a ponzi or fraud not by banks but by people who are not really knowledgeable of this technology.

Only people who lack knowledge about both the cryptocurrency industry and financial field are capable to call BTC a scam or a ponzi. But that's all because they don't understand it and are afraid of it.

Ultimately, their choice defaults to financial institutions and will continue to rely on them until possible to do so or until someone they trust can talk to them about it.

In this respect, I think a wider network of community crypto holders would be beneficial to in a way be able to 'infiltrate' their circle, this would help increase the visibility not only of BTC but other cryptos too.

However, the main challenge here is how to change the minds of millions of people as majority still have no clue what other financial alternatives are available. And I think That's an issue that will take more time to despite, so perhaps in a year time we'd have gotten closer to reaching more people.

[Willitivity]

Why do people still think it is scam?

There are several reasons why people call or address bitcoin as a scam, it could be lack of much knowledge about bitcoin, or sometimes it maybe due to it high volatility of the market, like for example someone introduced them to bitcoin and the person was like invest now the price is low and that bitcoin will reach maybe $30k and so on, then fomo kicks in they invest and after investing the price of bitcoin starts going down, the value of their bitcoin in usd starts dropping they will definitely label bitcoin as a scam.

[Shasha80]

Why do people still think it is scam?
  
This are the answers
  1.   Maybe because it's not visible, some people believe in what they can see ,feel and touch ,

Bitcoin is unique, unable to touch, and no physical. Yes, this could be one of the reasons, of the many reasons that make people doubt about bitcoin.
Rumors that bitcoin is a scam are still circulating in the wider community. Of course, they think like this because they have never felt the benefits of bitcoin actually.
They only see and hear from the mouths of people who have lost money from other Ponzi schemes, so bitcoin becomes something negative in their eyes.