He said Bitcoin is a Scam: See What happened to Him

[Wenbing]

Cryptocurrency industry is an industry like other industries that need caution from the players. It was yesterday, one of the members of a WhatsApp group i belong made series of comment, and in all his posts he said Bitcoin is a ponzi Schem, people doing btc are thieves.

Well, as a crypto expert (to an extent) i knew what has happened to him and i needed to educate him on what he should know about bitcon. I asked him what was his basis for this kind of derogatory comments, he said i should never mind, i later gathered that he gave his money to another person to invest in crypto and the person screwed him.

I tried to explain and educate him with the following;

1. How to invest in bitcoin.
2. the importance of trading or investing yourself.
3. why Holding and Timing are very important.
4. why it is scary to entrust your cash into someone.
5. Why knowledge is one of the most important tool you need in this industry.

He later admitted that he made a mistake.

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

[tinopener]

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Tell them that Bitcoin is Digital Socialism.

That usually stops 'em in their tracks.

[Wenbing]

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Tell them that Bitcoin is Digital Socialism.

That usually stops 'em in their tracks.

Digital socialism in what sense? do you mean the deocratisation of monetary people and disintermedation of banks through a P2P bitcon or crypto mechanism?

you need to explain what you mean by digital socialism.

[iTradeChips]

I would have told him that he needs to learn first what is he getting into without investing on anything at all. I will direct him to this forum, make an account here and then read a few threads so he can educate himself. When my friends who don't know crypto tell me that they are going to give me money so that I will invest it in a coin I refuse I tell them learn the ropes and then you can trade yourself. Learn the things and you won't be blaming anybody but yourself.

[iTradeChips]

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Tell them that Bitcoin is Digital Socialism.

That usually stops 'em in their tracks.

Tell that to a socialist or leftist thinking and I think it will not stop them and they would rather continue researching what this is and possibly participate. So I really don't think by saying that would stop them from doing crypto but rather it will do the opposite. But if you are going to ask me, decentralization which is a feature of Bitcoin, would shy those who are diehard leftists since they are for the centralization of government - their government and in a socialist utopia, they don't want a currency that cannot be controlled for the benefit of the masses or the socialist government - again their government.

[mk4]

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Pretty simple, to be honest. How can a mere asset, not an entity/business/organization, scam people? It's like saying that you can get scammed by a rock.

In real life though? If simple explanations like what I've said isn't enough to convince the person, then I really don't even bother. In the end, he/she's the one that's going to miss out on gains anyway, not me.

To put it using Satoshi's words: "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

[Vaskiy]

Bitcoin isn't a scam. It is an advancement that has provided freedom to the people who are part of it. Using the name bitcoin more scams were promoted by different people across the world. It is the reason why most of the people have such a misunderstanding about bitcoin. Another thing just on hearing people believe it, and never intend to analyse what is the truth. If one gives a try, further he'll not say it a scam anymore.

[davis196]

There are thousands of people like this guy.People,who were scammed by crypto HYIP,cloud mining,investment scams,crypto exchanges,etc...All those people are frustrated and powerless,so the only thing they can do is to start trolling and shitting over Bitcoin and the crypto industry.
If this guy was scammed in a fiat money scheme,he wouldn't start yelling "US dollar is a ponzi scheme scam" everywhere on the internet.
Unfortunately,all victims of online scams have to learn their lessons the hard way.We don't have time to convince them or educate them.

[Reatim]

he said i should never mind, i later gathered that he gave his money to another person to invest in crypto and the person screwed him.

Sorry But do i missed some Part? you Keep saying that He talks against Bitcoin all the time then How come that He gave Money to "Others" and Losses them?

I tried to explain and educate him with the following;

1. How to invest in bitcoin.
2. the importance of trading or investing yourself.
3. why Holding and Timing are very important.
4. why it is scary to entrust your cash into someone.
5. Why knowledge is one of the most important tool you need in this industry.

He later admitted that he made a mistake.

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

If i were in your shoe? I would tell him nothing because He is Old enough to understand what He is doing , and learning from you ? i don't know what on the other side that He changes His Mind and decided to invest in Crypto ?

or he is just a Bitcoin hater but altcoin believer ? is this what you mean here ?

[Walterhank]

Well sometimes it just possible to convince anyone to invest in BTC. But still i think the quick way is to tell them its history and how its price has peaked, if that doesn't convince them then i don't think anything will.

[irixo10]

Cryptocurrency industry is an industry like other industries that need caution from the players. It was yesterday, one of the members of a WhatsApp group i belong made series of comment, and in all his posts he said Bitcoin is a ponzi Schem, people doing btc are thieves.

Well, as a crypto expert (to an extent) i knew what has happened to him and i needed to educate him on what he should know about bitcon. I asked him what was his basis for this kind of derogatory comments, he said i should never mind, i later gathered that he gave his money to another person to invest in crypto and the person screwed him.

I tried to explain and educate him with the following;

1. How to invest in bitcoin.
2. the importance of trading or investing yourself.
3. why Holding and Timing are very important.
4. why it is scary to entrust your cash into someone.
5. Why knowledge is one of the most important tool you need in this industry.

He later admitted that he made a mistake.

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

He said that out of experience with a fellow human, in fact it looks like he is pouring out his anger on the mention of Bitcoin while in reality, he is to be blamed because he knows nothing about Bitcoin reason he was scammed and as well, it is very good you educated him on what he needs to know and I believe he will be curious to know more and will start making his own research in order not to fall for the same mistake again. Normally, when people close to you say bad things about Bitcoin and you are opportune to ask them questions, the first question to ask them is, why they say those things, that will form a good ground to educate him. Another truth is that, many scammers have now created a lot of Ponzi schemes using Bitcoin and so on, in order to accommodate a lot of people, and people who participate in such will always think they are investing the right way not knowing they are getting scammed. So first thing to educate these type of victims is that, Bitcoin is not a Ponzi of any kind, you can buy with spare money, hold it or trade it if you want so far you know how to do so, and from their questions you can go deeper into educating them.

[Oneandpure]

I think we can't expectation with bitcoin always trusted site or investment way because many people ever make loss from many people and now I think why they wanna said bitcoin is scam, but its not true when you loss and wrong position when entry to buy bitcoin and have lower price now you will claim bitcoin is scam, but you make mistake with your way why you buy bitcoin on higher price, always make wrong way when have to buy and sell bitcoin , maybe you need moment and time when have to invest or buy bitcoin because this look most important when analyze first if buy bitcoin or altcoin.

[rodskee]

Good to see that Your "friend" end up with KARMA after all those bad words he throws to Bitcoin and  Hope He'll end up losing again more and more .



And when time comes ? you don't have to say a word, let Him suffer for all His stupidity and also Let Him approach you for what he wanted to have in crypto .

Because people like Him don't deserve to be Lured, instead realization is what he needs to learn.

[yazher]

Those people are deluded to what kind of environment they are living and too bad they don't have an opportunity to invest when the price was so low these past 2 years. That's what happens if you don't make your own research regarding something unknown to you. when you only judge something in one opinion, you are lost and the result is a tremendous loss just like those who ignore the signal of investing in BTC last 2018-19.

[AicecreaME]

<...>

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

I'm a short-tempered person, so probably I would not bother explaining the right thing to him, I would just agree and let Bitcoin to slap him the truth that it was not created to scam people, but to help people in many ways. Even when Bitcoin was not yet created, people are already scamming people, so it is us who needs to be blame, because we use everything we can just to scam people, shame on scammers out there.

The result is always a solid explanation to those people who doubts Bitcoin, because explaining it to them while they are narrow-minded is just a waste of time.

[dansus021]

Punch in their faces  Joking

you did good try to educate him, hoax news is everywhere nowadays so tell him to check resource before tell everyone else

[Coinsfera]

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Who backs the idea of "Bitcoin is a scam", does not know how does the whole system works and they have a bias in cryptocurrencies. The high value of Bitcoin makes others jealous. Also, in the trading context, in the regular financial market, it is hard to profit in a short time, but bullish Bitcoin is loved by many crypto traders. If it was a scam then governments should not be worried about how big it is getting they would immediately ban the whole cryptocurrency market. The scientific background of cryptocurrencies keeps the mouths shut of suspicious people close. So, LONG LIVE BITCOIN!

[Wind_FURY]

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Tell them that Bitcoin is Digital Socialism.

That usually stops 'em in their tracks.

Ha ha ha. Don't do that, Bitcoin is apolitical. Plus the people in the forum are very forgiving about comments/posts like yours. In other places, some people would call that post, it starts with the letter "R", ends with a letter "D".

[pinggoki]

There's no doubt about it. Until now their are so many people who are not interested and still saying that bitcoin is a scam and it is because of the reason that many scammers using bitcoin and cryptocurrency as a front on the ponzi scheme that they are doing. What we need to do is to educate them and teach them what they need to do and also how bitcoin works. And another thing if people are buying bitcoin always check if it is legit or not to avoid scams.

[lienfaye]

If you were in my shoe, what would you've told a person that says bitcoin is a ponzi scheme created to scam people?

Usually these people saying bitcoin is a scam or ponzi scheme are likely had a bad experience investing then ending up losing their money. Its not unusual, I even encountered similar scenario like yours but the difference is he didnt gave his money to someone to do the work on his behalf, instead he is the one doing it. The problem is he didnt conduct a research and just blindy invest at peaked price then the value suddenly had a correction. He cant bear seeing his money slowly decreasing in price so he immediately sell at loss. Then he made a rant on facebook saying negative words to bitcoin and crypto in general.

I simply ignored him and let him do what he wants, his not listening anyway and just looking for someone to blame for his own action.