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

[Zionatin]

I don't bother with people like that. Anyone who thinks everything that they say is pure fact and that they are always right is a moron. It amuses me when people seem to think they know so much more than other people when while they don't even know what they are saying. Most likely this fool was scammed for his bitcoin and instead of taking responsibility he blames bitcoin.

[sheenshane]

He got scam himself after seeing the Bitcoin price move higher.
Yeah, it is really hard to convince people especially when they are close-minded individuals. And that even they are listening to you but then, we can't assure that they got the point what we say. They only appreciate this thing if they saw with their eyes that you are making good in this and that they saw that you are also improving yourself, otherwise, it is just a waste of time.

Exactly and tend to agree with that part I bolded above, people don't believe unless they saw how successful you are.  For me, I won't waste my time if they don't believe me on the first attempt of explanation, that's enough.  I won't waste my time, at least they are already aware of what Bitcoin is and how successful you are on this upon your investment.  Believed me, someday they will reach you back and will ask again when they heard Bitcoin becomes viral again due to the price increase.

I don't understand why these people enter into Crypto market when they saw the price was in heavy growth.  Where they are during the bearish trend and should the time to accumulate more in Bitcoin.

[Wenbing]

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.

What surprise me is him saying that the crypto business is based on pyramid scheme or ponzi scheme model, that infuriated me. He spoke with enormous ignorance. Ponzi scheme or pyramid scheme are business tactics that can be applied to any business, the common negative feature is that they are not sustainable.

so we have ponzi scheme in agribusiness, health business, NGOs, finance etc. The basic thing is to know such business models when presented an offer, so you could avoid the pitfall that will inevitably happen.

He got scam himself after seeing the Bitcoin price move higher.
Yeah, it is really hard to convince people especially when they are close-minded individuals. And that even they are listening to you but then, we can't assure that they got the point what we say. They only appreciate this thing if they saw with their eyes that you are making good in this and that they saw that you are also improving yourself, otherwise, it is just a waste of time.

This is very true, the very guy later asked me that if i claim to be an expert in crypto, i should tell him if i make money from it?
i sincerely told him that with my knowledge, i make money from two sources. 1. from creating a crypto portfolio , which i started with a little capital but would grow and 2. from doing signature campaign works.

He was skeptical of the informaton i was sharing until i explain that i make money with this too.

[moderator's note: consecutive posts merged]

[Lorence.xD]

I don't bother with people like that. Anyone who thinks everything that they say is pure fact and that they are always right is a moron. It amuses me when people seem to think they know so much more than other people when while they don't even know what they are saying. Most likely this fool was scammed for his bitcoin and instead of taking responsibility he blames bitcoin.

Me too, these kind of people of who do not own up to their mistakes and not admit that is their fault is a hopeless cause, imagine getting screwed by someone and you blame the medium you used for the transaction instead of yourself and the scammer, that is the weakest mindset that I can think of, having the ability to be ignorant about your mistakes is something that is done through self discovery.

[Adamini]

In the community where I work, there are often rights issues. There are some things that make me very helpless. People trade on the trading platform, and the platform is hacked for no reason, resulting in the loss of money and the sharp drop of currency price. Are there any mysteries behind these stories?

[rokon1234]

Many people have not much idea about cryptocurrency.That's why they are always say like that and they are always use fiat currency.but, we khow cryptocurrency is how much important for us.

[Oasisman]

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

You should've told him, how can a man like Satoshi who's existence was vanished before Bitcoin took off scammed that person lol. Nevertheless, what you have mentioned as a way to educate him was correct.
But, I hate to see people who puts the blame on things they doesn't even lay a single effort to study and research about a certain investment. This always happened in my place, not only with Bitcoin, but with other investment platforms too.

[cheezcarls]

I had a similar convo with a guy who reached me out because he invested in a scam binary traders group with some fake account managers. He told me that he only gave money directly to the fraudulent account manager, but not revealing which platform did the manager “trade” his money and it says that he’s guaranteed to have 300% return in a matter of days.

Because he was scammed, he assumed that everything about Bitcoin is a scam and told me that what I am doing is a scam. So I just told him simply that Bitcoin is a currency like fiat which can be used in both good and bad ways. Before Bitcoin was born, scams like this already exists.

I also shared to him about the central bank legalizing Bitcoin and other cryptocurrencies for trading and mode of payment, and also a government-owned bank who has its very first crypto ATM launched, and lots of VCEs being approved, etc. It’s where he finally realized and willing to learn the positive use cases of it.

So I just gave him an advice to educate himself first by researching on Google, Youtube and here on Bitcointalk.

[sallybein987]

5. Why knowledge is one of the most important tool you need in this industry.

knowledge is not enough - you need to be able to manage this knowledge.

[dondonk]

If I were you, I would explain what bitcoin is and how it works. I'll even show you how it works so that he understands that bitcoin is not a ponzi scheme.

[mezzaluna]

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

Another great thing about situations like this is the opportunity to tell that person on why does he think that Bitcoin is a ponzi scheme. You could ask if the aspects of the ponzi scheme is the same with Bitcoin and how did he determine it to be that way? We should really be calm in situations like this because its another opportunity to gain a possible investor and student that can learn about Cryptocurrencies.

[Casdinyard]

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.

Actually, this happens to anything that is making a "sound" in the market (most of the times). There will always be people who will take advantage of others. We'll, nowadays, its name is being related to such instances as fraud because it is gaining popularity on the eyes of the masses making anything interesting when related to this technology. Impressions into it will then be formed either good or bad. In this industry ofcourse people will argue that this technology is beneficial to the investors and its users simply because they are aware of the advantages. But to those who are not, negative image will more likely to prevail and it will be hard to make that much of a change to them.

[Broly46]

Yup, bitcoin was scam, during the pre 2009, internet itself was scam too, but thing could change, still today I wouldn’t trust internet, especially absurd demand KYC from some internet exchange or internet websites, is bitcoin less scammy than internet itself? Who know? Still I do not trust internet.

[dupee419]

I would've said the same thing, as a crypto enthusiast myself I would've said the same thing and honestly it really is hard convincing someone to believe in something that they've haven't gotten yet or have seen with their own eyes, so if that's the case, the best way is to show them, and that is if they are interested to learn, I've had some people who weren't willing to listen and just bores them out, if that's the scenario, just stop it and let them later on realize how much they were missing out, it is what it is.

[Mpamaegbu]

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

Either of these two I would do, depending on my mood at the time of the conversation —
1. Ignore him (if I'm in a foul mood)
2. Tell him to google Bitcoin (if I'm in a good mood).

Listen buddy, Bitcoin has gone past the era of trying to convince individuals (a shrimp) to buy in. Possibly, all they will buy won't even be up to a single Bitcoin. Institutions have already picked that idea of Bitcoin up and are buying big time. That's what matters. Let doubters continue in their tracks. After all, I am yet to hear stories of those who later got convinced and bought Bitcoin sharing their profits with those who convinced them to buy. I stopped wasting time with doubters in the past.

[Kittygalore]

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.

Pretty brutal statement but I have to agree with you, with the current social morals and situation, I think a brutal approach towards ignorance is a good thing because they never learn when a "slap on the wrist" punishment is the only way for them. The most ignorant are the easiest to be lured when it comes to scams just saying.

[michellee]

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 will only smile at him, and I will say that it is your decision. I will only talk about a new way to make money, but it is not about making fast money instantly because it will need time, and we need the patience to see our investment will grow. But if you say that bitcoin is a Ponzi scheme, I will not force you to follow and join me.

I already told that to many people I invite to join me in the crypto investment, but some refuse to join and say like that. That is what they want, and we can only let them wait and see.

[imstillthebest]

if im in your shoe i will use the numbers 2 and 4 , that is investing himself and never trust the others . why will he blame that bitcoin is a ponzi scheme when btc isnt the one that scammed him but its the person that he entrust his money .

 calling him a thief is enough but he shouldnt generalize all that who use btc and those who run an investing business are a theif  .

Well, as a crypto expert (to an extent) i knew what has happened to him

wow i think im the one who got flattered and shy when you say this hehe just kidding . i didnt knew that you are expert , i didnt feel it in your aura but you have a talent at predicting too because you know what happened to the guy  . awesome

[Gotumoot]

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?

Most of the time I would just let them think what they want but sometimes I would also defend it.
It is just tiring to defend it to almost everyone who would tell you that it is a scam.
Back in 2018 when I lost most of my money due to investing in BTC peak price in 2017 I would always hear that it is a scam so I would just ignore them.

[adzino]

You taught him everything, but you forgot to teach him about security :/. That's the first thing he should know before starting to invest or use crypto currencies. And that was stupid of him to "send someone coins" to trade on behalf of him. It's like begging them to scam you. I am sure he was scammed a lot of time even when using fiat currency. Ask him if he thinks fiat currency is shit.
Good thing he realized his mistake and admitted that he was wrong over here. There are people out there who would be stubborn and arrogant after getting scammed. They would keep on blaming crypto currencies.