How does the scammer companies earn through bitcoin ?

[Sifat Redwan]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

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[BlackHatCoiner]

How does the scammer companies earn through bitcoin ?

What kind of question is that? Those people's weapon isn't the type of money, but their victims' foolishness and their deceitful techniques (which are usually pathetic). Any late investor in this company could have been scammed with or without cryptocurrencies' existence.

Those companies aren't really companies as they're ran by individuals with no licenses and there's no legitimate activity. Their scheme is pyramidal, which means they fool their newcomers believe that there's some sort of honest business behind the company while their only source of income is the newcomers'.

This system is proven to be collapsing after a while. Read: https://en.wikipedia.org/wiki/Ponzi_scheme

[avikz]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

What you have narrated here has nothing to do with bitcoin. It is a typical ponzi scam under the disguise of "paid to click" business. Do not ever fall for such websites going forward. Making money online is not easy so if you see such easy tasks which will fetch you some unrealistic amount of returns, stay out of those.

Bitcoin is a currency system just like USD. But it is just not controlled by any central authority. If you want to know about bitcoin, go google it and millions of resources will be with you in less than a second.

[Sifat Redwan]

I was told that the money was paid in bitcoin and later it was converted to USD. I thought that they earned bitcoin by watching ads.

[examplens]

I was told that the money was paid in bitcoin and later it was converted to USD. I thought that they earned bitcoin by watching ads.

You already got the answer, it's about Ponzi schemes, no matter is it paid in Bitcoin or in the USD. the mode of fraud is the same.
Bitcoin or any cryptocurrency is used there because is "new" for many noobs who are hearing about rich people because of investment in crypto. for you beginners, it always seems tempting and you all stick to the possibility of making big money.
read this again

This system is proven to be collapsing after a while. Read: https://en.wikipedia.org/wiki/Ponzi_scheme

You did not explain, what has the Binance application got to do with it?
Also, are your friend get all of his money invested there? whether he ended up with a profit?

[haidil]

Hell, when you can find everything without needing to trust any company with your money, then you have every right to prevent it. Why entrust stupid things to a third party? people who thoughtlessly would have very little knowledge to invest.
I think it's enough to tell your friends that it's enough to visit an exchange, buy Bitcoins as they please and store them in a hard wallet. No need for a third party to manage your money, nothing to interfere with what you have. Why is it so easy to hand over to a silly company? ask your friend!!!!

[Yaunfitda]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

It has nothing to do with bitcoin, that's the first thing that you need to understand. That's why the are called scammers because they take advantage of anyone in crpytosphere. You just have to think logically, no one can passively earn that amount of money just by watching ads. If you really wanted to earn here, you need to work your ass off, just like regular jobs in the offline word. I do hope that this is a big lessons for you and your friend, not to blindly trust anyone with your precious crypto.

[AmoreJaz]

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It has nothing to do with bitcoin, that's the first thing that you need to understand. That's why the are called scammers because they take advantage of anyone in crpytosphere. You just have to think logically, no one can passively earn that amount of money just by watching ads. If you really wanted to earn here, you need to work your ass off, just like regular jobs in the offline word. I do hope that this is a big lessons for you and your friend, not to blindly trust anyone with your precious crypto.

sadly to say, these scammers just used the name of bitcoin to attract naive users. they are not in any way earning btc thru watching ads. they just look for certain activity that will give seemingly "valid" source of income. return of 4.6% daily from your investments seemed really a ponzi scheme to me. so they are just using the deposit of newcomers to pay the older users. not a new scheme but still people are jumping on this kind of too-good-to-be-true roi. and once they collected enough money for their pockets, they are gone. i dont know how many users will still fall on this very old tactic before they really need to  learn their lessons in a hard way

[arwin100]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

They used that 6$-7$ USD to lure people since like what you said if your friends tells you that he is earning that amount by just watching ads and then deposit some amount on their platform then for sure you will have an interest to try it to. Talk by mouth is like wide fire and its easy to spread especially if there's a money involve also if you ask how those scammers earn then they are earning thru the deposit of their new investors since once they convince more people to put their money in their platform and also once they reach there threshold like achieving millions of dollars in investment then they will do a grand exit scam and left their investors crying.

[stomachgrowls]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

Its just simply a cover up but totally that website is really just a ponzi. If there would be no one will be making out some deposits then it would just simply breakdown and the site would go down and ran all of those money
that had been deposited by those late investors.

This is a basic scheme that had been known in the past thats why you should have at least on using your common sense for you to avoid.Yes, you can earn initially but promising on earning a lifetime
is something you should be having on doubts about in the first place.

[adzino]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

They aren't earning "through bitcoin". They are earning by "scamming people". You are making it sound like bitcoin is used for scamming people. Like one of the user mentioned, it has nothing to do with bitcoin. Your "friend" probably joined a ponzie scheme where he was getting paid a lot for watching random advertisements. As long as people are investing in that "scam company", everyone will get paid. Once people start trusting them and more people starts investing, they will disappear with those money. It's sad that people still fall for scam like those.

[tabas]

There is simple logic with how you earn in real life and there's not that much difference in earning bitcoin. If that's what they offer that you'll earn while you're sitting pretty then everyone will have that dream job and investment. But sadly, if it's too good to be true, that's a scam.
You and your friend must learn what are the usual scams that are happening not only in bitcoin but as well as in real life because both of you are vulnerable.

[sheenshane]

I was told that the money was paid in bitcoin and later it was converted to USD. I thought that they earned bitcoin by watching ads.

I thought this kind of scam didn't exist these days because people know what is Ponzi scheme is.  It basically lures naive people with a small percentage they supposedly got per day after staking their Bitcoin and after how many days, they paid you for how many days and later on, they will shut down and you can never hear them again.

Back then year 2017 this kind of scheme was very popular, in fact, I'm one of the victims when I was investing my Bitcoin in a mining company, they promised to get my whole capital after 30 days, and per day, I got my profit.  But after a week, they lost and never come back, it's regrettable.

Next time, analyze it first in which part they generate their revenue of their business.  Because usually, it comes from newcomers in crypto, and then if the pool fund is ready to exit and run away, that's the time they become scams.

[hatshepsut93]

Some scammers choose Bitcoin because it's easier to hide your tracks with it. But most scammers choose fiat because it's more popular, so you can't really say that Bitcoin encourages scammers or opens ways for new kinds of scams.

In this case the scammers pretended that they run some sort of ad watching microearning company, but the fact that they demanded a payment is an immediate red flag. When someone offers you work, they should be paying you, not the vice versa. It's a quite common scam even outside Bitcoin.

[Oceat]

There is simple logic with how you earn in real life and there's not that much difference in earning bitcoin. If that's what they offer that you'll earn while you're sitting pretty then everyone will have that dream job and investment. But sadly, if it's too good to be true, that's a scam.
You and your friend must learn what are the usual scams that are happening not only in bitcoin but as well as in real life because both of you are vulnerable.

The scam is a typical ponzi type of scamming and it's a common scam that you can find anywhere especially if someone wants to earn an easy money they will all fall for this type of scam. And yes, it's too good to be true but his friend doesn't have a single idea what's happening then one day before they realize, it's all gone. Regret and despair came in while thinking what just happened.

Newbies will always fall for the easy money trap once they don't know what they were doing. They never took their time to research they then just learned to research after they've been scammed. Just count it as lesson learned and an experience for you and your friend's journey.

[Yamifoud]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

It has to understand that these people are just making your friend and his friends a fool.
You might get paid during your 1st, 2nd, or 3rd day but don't wonder that they will disappear and banned you from contacting them in the following days. They are good at first but later on, you will know their true intentions. In fact, if you would analyze it carefully, you will surely be doubtful about how it be going to happen.
Quick returns, receiving a huge amount without doing anything, that obviously as Ponzi scheme.

[dansus021]

earn money by watching ads its remind me about neobux and other paid to click program  but why need to invest when u still to work 

usually scammer who using bitcoin and other payment services is HYIP(High Yield Investment Program) which give you good return on short time but HYIP most people also call them as ponzi scheme later investor will get nothing except regret  always do research first before investing

[sirminesalot]

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

This kind of scam was hype back in 2017-2018 era, there are a lot of lending platform which give you around 1-5% a day without doing anything.
Called ponzi scheme which your money will fund another people registered after you, and when they already have a lot customers and the money pool is already big, they disappear.
I saw there are still many ponzi platform that giving a lot of return in short time nowdays this year, and it must be ponzi and could bring your money anytime, but for several lucky people if they join it at the right time, they could be get much profit also.

[Darker45]

Supposing there is a continuous flow of paid ads, then perhaps there is indeed a revenue coming from these companies. To increase traffic and consequently fees for the clients who wish to put up their brands, they are hiring ads viewers for a small payment.

However, in this particular case in which investment money is solicited from those who wish to earn, there is a suspicion that the money to be paid are most likely taken from the money of new investors. In other words, this is a Ponzi scheme. This is not at all related to Bitcoin.

[Wexnident]

It's really simple OP, the scam company creates an internal wallet of sorts that reflects purely numbers, making players mistake it for "profit". In your friend's scenario, he's mistakenly thought of the balance he has on the app as "profit" already, when in fact, it's just numbers generated by the app or whatever he uses, meaning it's fake, it has no real value, simple as that. Now, it's not only Bitcoin that scammers use, it's everything. Bitcoin is simply a medium, just like every other medium there, they are in no way at fault for being used in scams. If you were to continue in that direction I'd really have to question your intelligence about it ngl. That's at most, the only connection scamming has to Bitcoin (or anything else really).