Crypto Scammers put bad impact to Our Government about Bitcoin Transections.

[Shenzou]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

Its not like fiat money has a shortage of scammers, scamming money laundering or other types of illegal activities have been present since the dawn of civilizations and this won't change with or without bitcoin, its just now scammers are using the anonymity of the transactions thinking that they can hide their tracks, and i think that the media is only talking about the bad usage of bitcoin and never talking about the good ones.

[Sanugarid]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

It could be one of the reasons why the government is against BTC and blockchain technology but the thing is, the government has no authority and control over millions of transactions happening in the blockchain. They're against it from the beginning and looking for ways to regulate it. Moreover, scamming is nothing new in the modern-day what makes it different is the platform that they were using and it depends on the government on how they would handle it.

[Haunebu]

You are clearly a newbie in the crypto world op. Almost every crypto investor is already aware of the fact that the anonymity factor of cryptocurrencies can be taken advantage of in both positive and negative ways.

Cryptocurrencies aren't perfect currencies. Similar logic applies to FIAT currencies too basically. Don't just focus on the negative aspects of cryptocurrencies since there are plenty of positive aspects too.

[hichamito37]

Nowadays, criminal networks around the world use fiat as the main currency, that's why you see so many cases of big banks with conspiracy to launder money. The government doesn't care what crimes are committed using Bitcoin. They don't want to accept Bitcoin. If there's one thing I can tell you, it's that scams and frauds have been in the system even before the advent of cryptocurrencies. So this comes as no surprise to me.

[kryptqnick]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

If a scammer buys a car using USD, will anyone in their right mind write a news article "USD used by a scammer" or anything like that? No, they won't, even though dollar is used for tons of illicit activities. So if it's not an argument against fiat currencies, why should it be different with cryptocurrencies? This is plain unfair, and while of course fighting cryptos scams is important, it's also important to fight manipulations that build the narrative of cryptos being bad because criminals use them, as criminals use all sorts of money and it doesn't make us impose some special regulations or associate those kinds of money with crime.

[Reatim]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

Publicity comes from good or bad mate, let them spread this message to many people so those who had learn this will check and be curious to what is crypto all about and they will end up seeing the opportunity inside the market.
some may get away while some may invest.
and this is not only in your country , because almost in all continent there are similar case though different profile.
Scammers only proves one thing that crypto market is really booming nowadays.

[zanezane]

The government should do their jobs too, train personnel that deals with cybercrime and upgrade their equipment to be used for chasing cyber criminals. The government doesn't know any better, they're full of geriatrics that have their heads still in the 70s and still think that television is an advanced technology.

[Ararbermas]

That's the problem with crypto currency because of a bunch of scammer around the internet that who used to scam other people using the advantages of crypto currency especially when it comes bitcoin,, so no wonder why government are still very against and want to shutdown crypto currency,. Actually for me in my personal opinion even in the future it's impossible to implement,  wherein maybe there are some country that will adopt like El Salvador did, but it will never spread because for sure government will set a limitations for it for the safety of other people who don't knows the risk of crypto.

[davis196]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

People in your country can buy a BMW by using cryptocurrencies?That sounds great.
There will be always people who try to abuse the system for personal benefit.It doesn't matter if the payment system is crypto or fiat.I guess that there must have been a human factor inside the payment system,that's why the scammer achieved success,but he was caught eventually,which means that scammers aren't safe,despite the fact that they are scamming.
The government doesn't care about crypto transactions.Placing a total ban of crypto means that all the crypto transactions will become illegal,but they will continue to exist,which is worse that allowing crypto payments,but having strict regulations over them.

 

[Marvell1]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

Same in my country, Crypto is being used by some people to fraudulently appropriate other people's assets. This affects the reputation of bitcoin and crypto,because most of the people who get scammed in these scams don't really understand what bitcoin is, they only know that bitcoin investment to bring profit. But that is no reason for the government to put pressure on the market. The government is clearly looking to get rid of crypto because they cannot control it and to the detriment of the monetary system they are behind.

[ethereumhunter]

I am curious how that guy can scamming in crypto because if that guy has crypto, let say bitcoin, and he can transfer bitcoin to the other wallet. That can be bad news for crypto being used for scamming but I guess that crypto will still be popular and will be more popular in the future. I think your government investigate that case and will research crypto and if they see the benefit of crypto, they will showing interest in crypto. Hopefully, the government can solve the case as soon as possible and the government can know that the crypto is not just an illegal way but can also be used for legal things.

[irsykes]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

If about government, in my mind what cause they looks like not agree with crypto is because they not want their fiat get disrupted. If about scammers, maybe it will affect on what people see about crypto itself. Especially if news mostly show people about bad things that happen, i mean there are not much success people who viraled by news, usually viraled by crypto community itself. That is why sometimes people think crypto is bad thing that be used by people to scam others. Because they only know it from outside and from less sources.

[dupee419]

I disagree with the fact that scammers have ruined the name or popularity of Bitcoin, with more influencers/celebrities like Elon Musk, MrBeast, and some Hollywood celebrities that are supporting/investing in BTC, scammers are just there to ruin the name of Bitcoin, but the amount of people that actually supports BTC are more than these scammers that are throwing dirt in its name.

Bitcoin is still on a positive state even if scammers exist, scammers will always be present, whether it be Bitcoin or any other cryptocurrency, so I honestly think that scammers really won't ruin Bitcoin even if they try.

[lixer]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

That’s what a lot of people think that is making the government not to accept cryptocurrency, but I don’t think this is true. If it has to do with scam, then this is not an excuse because cryptocurrency is not the only thing that is being used for scamming people. Majority of the scammers make use of Fiat, and they never get caught by banks or the government. So, it doesn’t have to do with scamming at all.

Although I do understand that crypto currency is a type of currency that keeps its users private, but even at that it can still be traced. Some research even shows that you can easily be traced more than when making use of Fiat for such activities, so scammers tend to go for Fiat instead of crypto currency. Maybe why the government is not supporting cryptocurrency is because they can't control it.

[wxa7115]

It is wise for swindlers to choose bitcoin as a payment method. Because it greatly increases the difficulty for the government to track funds. But is it bitcoin's fault? If you pay in their country's currency, is it the fault of legal currency?

You are not wrong since your logic is sound, blaming the tool for what happened is a flawed argument, however we know that governments do not care about right and wrong, they care about what benefits them and what it does not.

When people commit crimes with their fiat currencies at some level the governments care but at another level they do not as they know they have complete control over their currency, however when it comes to bitcoin they know this control does not exist so when they see something like this they quickly accuse bitcoin of enabling criminals, when it is obvious the vast majority of the financial crimes around the world are committed with fiat currencies.

[dothebeats]

The narrative that bitcoin is bad just because some bad apples are using it for their own personal gains is becoming old. It is not because a few scammers are using bitcoin that's why they are not into it, it's that they can't control it on their own. Fiat currency is still the currency of choice for scammers and fraudsters all over the world. No one is getting mad about that bit since fiat can easily be controlled by the government. If they don't hold the reins on fiat, see them get mad about it once a 'scam' surfaces and the said currency is involved.

[taufik123]

As a wise government, don't just look at the negative side of scammers who have succeeded in committing fraud so that they can buy luxury cars. But it is also seen from the negative side of cryptocurrencies that crypto has a future that is also supported by Blockchain technology.
All types of investment platforms other than crypto have the same risk, both have scammers in it. A scammer can be interpreted as a virus that must be destroyed and maintained so as not to be exposed to the virus again.
In some developing or developed countries crypto has been recognized and adopted so that cryptocurrency is not only used as a tool of crime, but has benefits for the future.

[TelolettOm]

This is actually not the fault of crypto, but this kind of scamming system already exists even in daily life with fiat.
It is about scams, not being aware of someone to be more and more careful when doing transactions will only offer high risks. Moreover, it is about big money, how can it be just that kind of carelessness?
This kind of incident, although the mistakes of the people, will influence other people to think again that crypto is bad because of the scams. Whereas fiat is also sued for scamming people more than Bitcoin. This is not fair actually, but news can spread this bad news all day long very easily

[LimLims]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

That’s undoubtedly the sad truth.
Scammers always try to take the advantage of things like this.
And yes due to these the government is declaring as BTC as a mode of scamming.
Now who can stop this? It’s only us. If we become careful and avoid scammers, then these cases will be reduced significantly.
At last hope that someday BTC will be declared as legalised.

[bitgov]

That is not why. The criminal networks around the world uses fiat as their primary currency, that is why you see so many incidents of major banks having money laundering schemes slip under their nose.

The government doesn't care what crimes are committed using Bitcoin. They don't want to adopt Bitcoin, period. It threatens their dominance using the fiat for which they have so much control over, why would they let go of it? Trust me, governments are not deterred from adopting Bitcoin because of a few small crimes. You don't see governments shutting down banks for laundering so much money, but the fine that is given is just a slap on the wrist.

You summed up very nicely. Frauds and scams are there for centuries and still going on with fiat? Does that mean fiat is creating bad impact on government? Absolutely not.
Fiat and crypto both have double edges and can be used for both good and bad. The primary reason of government rivalry with BTC is that they can control it.