Using bitcoin false information by scammers to scam with fake tokens

[Charles-Tim]

Many scammers could  now possibly taking advantage of using false bitcoin information to scam people that do not know about bitcoin very well, according to the one I read recently, it is about scammers luring people to buy bitcoin shares. Please, can bitcoin shares be bought? No, we can not buy shares in bitcoin. Bitcoin is not owned by any company, it is completely decentralized but scammers know many people do not know about bitcoin very well and will not make any research but invest and be scammed.
One such new tactic implies that investors can buy or own shares in Bitcoin itself, as if it was a corporation. This tactic is for example part of an elaborate plot used by individuals behind an operation called Bitcoin Inc, to con ignorant investors into mistaking the operation for “the real Bitcoin”.



In a presentation, the shareholders of “Bitcoin Inc” depict bitcoin as the creation of a privately owned company that came into existence around the year 2010. The timing of Bitcoin Inc’s emergence appears to give the impression that the organisation is likely behind the issuance of bitcoin itself. According to information on the site, there is a “21 million BTC maximum limit and 1000 Bitcoin Inc full corporate shares maximum limit.” One full corporate share is “equivalent” to 10 BTC.

Now in order to entice ignorant investors, the website implies that anyone who bought and has held on to one full corporate share since 2010, now has an investment portfolio valued at $210,000. This is because BTC has since risen from the price of $0.10 when the full corporate shares were supposedly issued in 2010.

Using a very incoherent explanation, Bitcoin Inc assures investors who missed out in 2010 that they can now make amends by “holding any amount of USDCX in investors cryptocurrency wallet.” To do this, the website then goes for the kill. An investor simply has to transfer USDC stablecoins equivalent to the USDCX “fractional shares” they want to buy to an ethereum contract address, but there is a caveat. But nothing stops the scammer from doing the same thing again with another Bitcoin-like website and domain, such as “Bitcoin Ltd.”

https://news.bitcoin.com/no-you-cant-buy-shares-in-bitcoin/
People needs to be careful, knowing what bitcoin is all about very well to not be a scam victim by people that take advantage of ignorant people.

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[jseverson]

It's good that this message is out there, but I would be very wary of linking newbies to anything Bitcoin.com related. I took a quick peek and it doesn't seem like they outright refer to BCH as Bitcoin anymore, nor BTC as Bitcoin Core, but their wallet still lists BCH first; something which could be very confusing to newbies wanting an actual Bitcoin wallet.

People needs to be careful, knowing what bitcoin is all about very well to not be a scam victim by people that take advantage of ignorant people.

This quote is actually very relevant to what I'm talking about lol.

[Filicius]

It is our duty to warn new members so it is harder for them to fail in this kind of scams. Thanks for pointing this out, no caution is too much in crypto.

Secondly, in bitcoin.com they have moderated their dubious practices, but they're still not sincere. I'm afraid they will never be. Every newbie should go to bitcoin.org instead, the true legit source of information.

It's good that this message is out there, but I would be very wary of linking newbies to anything Bitcoin.com related. I took a quick peek and it doesn't seem like they outright refer to BCH as Bitcoin anymore, nor BTC as Bitcoin Core, but their wallet still lists BCH first; something which could be very confusing to newbies wanting an actual Bitcoin wallet.

[The-None-Above-All]

It is much worse than Filicius says. "dubious practices"?

bitcoin.com is a SCAM site. Do not link to it. Thanks for warning about scams, don't send people to other scam.

People needs to be careful, knowing what bitcoin is all about very well to not be a scam victim by people that take advantage of ignorant people.

Owner of bitcoin.com: Roger Ver (MemoryDealers), very distrusted person

There is now active topic in this: To newcomers: make sure when you buy bitcoin you are buying bitcoin!

what you say:

to con ignorant investors into mistaking the operation for “the real Bitcoin”.

It's what bitcoin.com does.

Back in 2017 a hyped up trend started where people kept creating copies of bitcoin and called them bitcoin something (like bitcoin gold for example), sold it to newbies, pumped and dumped it a little and pocketed the money.
All of these coins are useless, weak with security flaws, without any innovation or future and only get some pump and dumps every now and then.

Among these altcoins there is a notorious one that has been scamming a lot of newcomers by telling them it is "bitcoin". This shitcoin is called "bitcoin cash" with the ticker "BCH". This altcoin is owned and controlled by centralized entities one of whom owns a high ranking website called bitcoin.com which is one of the main places that scammed newcomers a lot in the past.
They went as far as changing the name of "bitcoin" to something else while calling their own shitcoin which they sold to newbies "bitcoin". See the screenshot below:
https://i.imgur.com/Q639aTC.jpg