Be Excited about the rise, be wary about the scams, and loss

[Oasisman]

With the pump in btc comes the FOMO, some crypto skeptics are changing their minds about bitcoin and buying btc at a high price instead of waiting for a dump. The psychology surrounding bitcoin is an interesting one, people like to buy coins when the price is $10k as opposed to when it is just a dollar

Well, that's kinda usual. FOMO has been goin on around everytime Btc tends to make a huge run or even a small one. But right now seems different as Btc hits a new all time high and break through the past ATH record like it's nothing. Anyway, If Btc reaches the 6 digit figure like everyone is excited about, you won't say $23k is a high price as your entry point, just like the people who bought Btc at $1,000 in 2016.

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[wxa7115]

Scammers are a big problem since a long time now! Initially the internet scammers were playing big on hyip/ponzi scams but after the closedown of TalkGold and MMG forum, they had moved to crypto market because it grants them even more anonymity than traditional payment processors like PerfectMoney or Alertpay!

I heard from my local news that police arrested a person who were scamming people in the name of bitcoin. He was promising double return within 25 days to the investors. Now those who are aware of bitcoin, they would know it is impossible to get a confirmed return from bitcoin and they understand the risk. But still people have fallen for it.

Scammers will always find new ways to scam people. Education and awareness can save from a disaster!

Unfortunately scammers are a big problem everywhere and not only in this market, just look at your TV and put attention to the ads and actually watch them, do you really think that the products and services announced there can even do half of what they promise? The answer is obviously no, but people are so used to this kind of advertising that when they see it in a financial offer instead of seeing a huge red flag they see the opportunity of their life.

And it is that kind of thinking that produces serious losses to people like that, this is why I have always thought that the first thing that people that are interested in investing should do is to inform themselves to find out the most common ways scammers use to try to get money out of their victims, that way they will be able to protect themselves when the time comes.

[sheenshane]

Unfortunately scammers are a big problem everywhere and not only in this market, ...

I tend to agree, and even when the internet isn't yet here, scammers are all around the place.  You have to expect that there are some who only know how to take advantage of people. That’s a fact.

There will never be a rising road if there is no shallow.  You have to make sure that you’re ready because, on every continuous road, it’s always ups and downs, so you just need to be careful.

Quick advice,

Don't let yourself get caught by FOMO.  That’s a trap.

[Zionatin]

People need to stop blaming scammers when they feed them constantly ensuring they come back. I can understand that some of the more advanced scams you can fall for I am not talking about those. I am talking about the 99% other obvious scams people insist on supporting. Imagine if people stopped investing in scams and invested in legit companies instead? It is very disheartening to watch.

[wxa7115]

People need to stop blaming scammers when they feed them constantly ensuring they come back. I can understand that some of the more advanced scams you can fall for I am not talking about those. I am talking about the 99% other obvious scams people insist on supporting. Imagine if people stopped investing in scams and invested in legit companies instead? It is very disheartening to watch.

It is obvious they share a great deal of the responsibility as well so do not think that I am defending them, however as stated before a great deal of the fault lies also in the way marketing presents a product and service, as you may have guessed because of this bull run my friends that knew that I was into crypto have come to me for advice, but why?

Did they changed their posture and now believe that a currency not controlled by the government and that cannot be inflated at will is a good option? Of course not, they want to invest because they want to make some quick profits, so they have their expectations warped by the marketing and even if someone that knows that is too difficult like us warns them they will ignore us and listen to the scammers that promise to make their wish come true and against that we cannot really compete.

[Krislaw]

Scams can't be stopped 100%, there will still be some newcomers that aren't aware of all the scam methods these scammers have plotted. Scam like the ones on twitter are looking more legit, people now buy verified twitter account to post scam link. Such is very easy to believe.
I also received an email with a phishing link from a fake ledger email. I'll make a post on it

[chanler]

The scam is one thing that is actually like glue in the crypto world, we cannot remove it, but we can avoid it as long as we know how to analyze them. Scams failed projects, and also FOMO of hype coins may cause any loss. That is why we must be more careful every time we want to invest or take profits of any coins.
Soemtimes, there are some other problems that people face in the crypto world, related to greediness and also paniuc besiudes the existence of the scams and also theriks of loss.
The two emotional codnitions lead the risks of loss higher and higher again time to time.

[jademaxsuy]

There are some people that are unaware of the things that happen around and they only get to know it when they became a victim of scam and fraud activities. There are many of it as stated in the OP and that we should help them aware by making some precautions regarding on some activities like fake giveaways using known personalities, companies like exchanges that are fake. Remember that if it is too good to be true then most likely that is a scam.

[CarnagexD]

A really good heads-up and reality check for people who are into cryptocurrency for a quick buck which in theory is something that can be achieved. However, few are only able to take advantage of this. That being said, knowledge still would beat anything, so arm yourselves with it, and you're sure to thrive and survive in the cryptocurrency industry.

Scams can't be stopped 100%, there will still be some newcomers that aren't aware of all the scam methods these scammers have plotted. Scam like the ones on twitter are looking more legit, people now buy verified twitter account to post scam link. Such is very easy to believe.
I also received an email with a phishing link from a fake ledger email. I'll make a post on it

But people who get scammed can be lessened. As I have mentioned above, knowledge beats anything. Including scammers. So if you're a newbie to the industry yourself, please arm your selves with knowledge so you don't do the same mistakes we did in the past.

[fishbonez11]

A lot of scams are coming in the name of Bitcoin. They going along with bull run. This is the downside of bitcoin, anyone can easily take advantage of people by using Bitcoin. Since there is a hype going on, people got curious and when hearing about bitcoin they becoming willing to risk. Last month, people got scammed in my place, 4 million Dollars where easily taken away from the people. They were decieved that their money will be invested on Bitcoin but the truth is they just use the name to gather more investment.

[Yatsan]

It is already expected that together or along with the hype of people upon engaging into purchasing or investing with Bitcoin, there are certain associated risks that can come over which includes those scammers spamming around those newbies or potential investors fooling them around of what they supposedly do like teaching them an easy and understandable way on how they can purchase or invest Bitcoin speaking like a negotiator or middle man to those newbies and turns out to be slowly getting their money for their own personal use. They are taking advantage of the hype so it is expected to happen. You just need to embrace yourself if you were just new not to fall into those schemes and be aware of the possibilities that you might encounter such happenings along the way.

[oktana]

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.

This is very correct. In times when the price of Bitcoin is high, there's usually this increase in number of scammer(because you may have the Bitcoin gem).
So imagine now we've a new ATH, there'll be more of them, and everyone needs to watch out so we don't fall victim in anyway!

[Nikole Fischer]

To everyone new reading this hope you don't have reason for your excitements to turn to regrets, I consider myself new just like you, but I am indefinitely trying to bank-in more knowledge, experience.
Amazing, exciting is not to enough to define the price of Bitcoin ATM and this news is almost everywhere, even friends of my who are not into crypto-coin are hearing of this break-off the All time highs, and as expected they want-in.
Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

Wow, well said! This information is really useful for beginners. When I first started to get involved in bitcoin, I looked everywhere for information like this one. I think it's important to advise newbies so that they can read and learn something new

[bryant.coleman]

I have been around here for more than 8 years and I can confirm that there will be an uptick in the scamming attempts, whenever the prices start going up. The users need to be extra careful at this point. There can be several types of scams, including phishing attempts, password stealing and identity theft. Before sending your coins, confirm multiple times that you are doing the correct step.

[Mrsonutiten]

So when I'm watching some bitcoin videos on youtube... doesn't matter what it is... could be about bitcoin or CNBC talking about bitcoin, i see in the comments section, people making comments like

btc is the future

i made a ton of money investing in btc with so and so person

then you see someone post someones whatsapp or phone number Everywhere Scammers Ready To Stole Also Facebook Instagram Twitter ETC All social media are covered by Scammers You Can See Also Ads About Crypto i Invested 10$ now my Earnings is 1000$ and say contact this person if you want to make money

telegram

how btc is better than stocks


First off, all these comments are from people or are they bots?  I notice even on twitter when it comes to politics, you see these accounts post comments where it sounds like a bot... then you see other users who post the same exact thing.


I assume the scam here is you then contact that persons whatsapp or phone or telegram, then they ask you for money... then you get scammed?

[panganib999]

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.

This is very correct. In times when the price of Bitcoin is high, there's usually this increase in number of scammer(because you may have the Bitcoin gem).
So imagine now we've a new ATH, there'll be more of them, and everyone needs to watch out so we don't fall victim in anyway!

As the price of bitcoin increases, scammers too have become rapid these days. So as much as possible, we should learn how to avoid scammers by being so cautious and wary in every transactions we make. As our excitement for bitcoin price increases, our awareness for new ways of scamming should increase too so we will not fall into losses rather than gaining more profits.

Scanmers are everywhere. They didn't care about others and how their money earned. They also didn't choose who to scam because for them thr most important things is that they will have the money. Yes. I agree to the idea of the more bitcoin value rises, the urgeness of the scammers to scam are highly possible because of the value. We all know that bitcoin is one of the best and thing today because of the new achievements but I guess the reason why they are scamming is that they are too lazy to work hard in order to earn. Yes. I also agree to the idea of be excited to the rising value of bitcoin and be aware to the increasing numbers of scammers as the value goes up.

[Genemind]

That is true, the number of scam attempts and scammers increases whenever there is a price break-out in crypto, some people fall, victims, since there are newbies that just got into crypto due to the bull-market. Just be aware of their schemes, scammers are being creative nowadays and they are finding new ways to target people, mostly who are new to crypto.

Also, do not put too much faith in any crypto, the market might be soaring high at the moment, it will fall any time soon and when it falls a huge market correction will take place and will leave those who invested out of FOMO huge losses. Enjoy the moment, but be aware.

[adzino]

-snip-
Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

Don't scare them lol. There is no "wrong" time to join. As long as you didn't join to make quick profit and here for holding long term, you will be fine. I am sure they are aware that the price is "sensitive" in the market.

-snip-
+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

1. If you play smart, you won't be scammed. If you fall for their dumb tricks or take no cautions, you deserve to get scammed.
2. Like I said, they are probably aware of this. If they invested huge amount of money, they probably did their homework. If not, this experience is going to be a lesson for them.
3. Obvious.

[michellee]

First off, all these comments are from people or are they bots?  I notice even on twitter when it comes to politics, you see these accounts post comments where it sounds like a bot... then you see other users who post the same exact thing.
I assume the scam here is you then contact that persons whatsapp or phone or telegram, then they ask you for money... then you get scammed?

Those people are real people. The owner of the Youtube channel, Facebook, can pay someone or more people to comment about making money from bitcoin to attract more new people to follow their steps and join under them so they can make more money. You will see more like that in the future, especially if the bitcoin price is at the highest price, and many new people will get scam by them if they can not learn by themselves. As long as you can be careful to act on those things, you will not get scam by them, and you will have a chance to make money.

[raidarksword]

Scammers appears when bitcoin price is surging up and they come from the hole to social media platform especially facebook wherein they are spamming comments about bitcoin investments with flowery words. People without knowledge on bitcoin will certainly judge right away that bitcoin is scam because of these greedy people wanted to take the advantage of people's innocents.