Caution Newbies Bitcoin is BTC

[UmerIdrees]

Yesterday i came across an unfortunate incident and i never thought people will be so dump here

We are having a PSL season 8 (a very popular cricket tournament where local and International players play the game) and it is being broadcast over the national sports channel locally and also worldwide.

One of my friend told me that he has heard about bitcoin as it is being advertised in that tournament and he asked me if he should buy Bitcoin as it was advertised in PSL ?

I was shocked as I never saw a bitcoin advertisement on national TV but later the whole story fold up.

Actually, they were advertising the Bficoin BFIC coin to which my friend thought that it was bitcoin.  I told him that this is not real bitcoin but he insisted that I was wrong. I told him that bitcoin has 21 million supply and he told that this coin also had the same supply https://www.coingecko.com/en/coins/bficoin 

He was of the view that since BFIC was advertised on national TV, it is a real coin and Bitcoin is just a clone or a scam. 
He was not agreeing with me as he said if bitcoin was real, then it would have been showing at the PSL matches and not this coin.

This is how the young generation can easily get detracked because of a lack of knowledge. I was really sad to see people don't want to accept reality or even research.
 


https://twitter.com/BfiCoin/status/1630464832674594817

[mk4]

I don't know — but there's a clear distinction between bitcoin and bfiCoin. If a person doesn't see the difference between the two, then he's bound to lose money in this industry.

[danherbias07]

Perhaps you could explain to him further what is the difference between the two.
I was on the expression that your friend just saw a part of the advertisement or it is too short that he didn't have a good look of what he really saw but when you told him it is different and he is debating over it then that's a signal that he got it all wrong.
Bring him here in the forum, perhaps that would help if he won't budge about his belief.
Maybe he will be enlightened more when he saw the magnitude of the difference between the coin that he saw and Bitcoin.

IIRC, years ago many bought Bitcoin Cash just because they got confused with the two coins, but what they are really after is buying Bitcoin. Ticker symbols are very important because they are unique.

[MusaMohamed]

I told him that bitcoin has 21 million supply and he told that this coin also had the same supply https://www.coingecko.com/en/coins/bficoin 

Have same total supply does not mean that B fi coin is Bitcoin.

Altcoins can fork from Bitcoin source code but they are not Bitcoin.

How Many Bitcoin Forks Are There? You will be surprised!!!

Your friends should know some basics to do his own research and find scam projects

B fi coin project website has very low traffic: https://www.similarweb.com/website/bficoin.io/#overview. It is very lower than Bitcoin.org website traffic.
https://www.similarweb.com/website/bitcoin.org/#overview

Tell your friend to see difference in trading volumes between Bitcoin and B fi coin: https://www.coingecko.com/en/coins/bitcoin

Note him that Bitcoin is a biggest coin and if your friend visits Coinmarketcap or Coingecko, Bitcoin is a coin listed at top (a first ranking) and it won't be hidden somewhere.

[virasog]

When anyone has no idea about bitcoin and crypto, he can easily become the victim of scams and this is what is happening with your friend. You can only warn him but if he still not agree with you, only time will prove that he was wrong.
That is why there are so many crypto scams in the industry and the main reason why people lose money in crypto is their own ignorance.

He was of the view that since BFIC was advertised on national TV, it is a real coin and Bitcoin is just a clone or a scam. 
He was not agreeing with me as he said if bitcoin was real, then it would have been showing at the PSL matches and not this coin.

So what happened in the end ? Did he agree to you or trusted the media? By the way, the media never said it is Bitcoin, it clearly says it is Bficoin. So you cannot also blame the media is wrongly projecting bitcoin.

[Getmon]

I am puzzled as to the necessity of an argument. Clearly, BfiCoin is not Bitcoin. They are two distinct coins with distinct designations. BfiCoin is abbreviated as BFIC, and Bitcoin is abbreviated as BTC. They share the same maximum supply; however, a quick Google search will reveal how distinct they are, beginning with their market capitalizations, the circulating supply, and the exchanges on which they are traded. Anyhow, if a lazy and ignorant individual continues to argue, it will only make him or her dumber. I would rather ignore the person and stop wasting my time.

[Kakmakr]

Yea, these shitcoins try the same tricks as Bitcoin Cash did with their naming, namely to phish people into believing that their coin is actually Bitcoin.

I had a friend that came to me just after Bitcoin Cash started to be traded.. and he bragged with me that he bought Bitcoin at $20 ... when the Bitcoin price was something like $30 000 (I cannot remember the actual prices) ...but it turned out that he bought Bitcoin Cash and not Bitcoin (BTC)

I think it is cheap tactics to confuse people with copycat naming, but it only works for a short time and then people dump it again for the real thing.  

[Cantsay]

Your friend is just being dogmatic and does not want to listen to reasons and that's going to cost him a lot in the future.

The fact that a coin as the same supply as Bitcoin and also start with the same letter does not mean they are both the same coin and if fails to see the difference then he's bound to Losing his money to scam very soon.

While for the coin been displayed in national TV does not mean anything it only means the coin has bought the advert space and now it's been displayed if another coin should pay for the space next time the space is free that coin that paid newly will be displayed while that mean the new coin is now Bitcoin? Just sit your friend down and talk some sense into him and if he fails to listen be cautious while you're around him so that he won't start selling those his wrong ideology to you.

[Justtoons]

Some people tends to play ignorant even when you give them advice, Bficoin has nothing to do with Bitcoin. They are two separate coins even though they have the same max supply. Advertising Bficoin on national tv doesn't mean that it is a legit and Bitcoin is a scam. It was only used for that special occasion because it sponsored that tv show. Other coins can equally do the same, its a means of letting the general public know about such coins in precise. You have done or played your part in telling him the difference but if he insist on his own then leave him be.it would be a loss on his own part.

[worle1bm]

These are some ways to make people fool and there are really some people or say complete newbies who will not be able to distinguish between the actual btc and this shit coin or whatsoever.But if you can't make these difference you are at complete fault.They have tried to cap the supply also at 21M which clearly shows they want to cash grab people's investment in any way possible by linking the name to bitcoin but be sure you look closely at these shit coins.

[davis196]

He was of the view that since BFIC was advertised on national TV, it is a real coin and Bitcoin is just a clone or a scam.  Sad
He was not agreeing with me as he said if bitcoin was real, then it would have been showing at the PSL matches and not this coin.

That's really dumb logic.
Any shitcoin with a big enough advertising budget can be shown on national TV. Marketing in itself cannot prove the legitimacy of anything.
I guess that your friend is delusional. Bitcoin is NOT a company(or a product) and there's no need to be advertised, as if it's a product or a company. Many crypto companies are advertising themselves (just like Crypto.com on the last World Cup), no crypto company would pay for an advertisement that says "Buy Bitcoin!".
This Bficoin clearly has nothing to do with Bitcoin. It's not even a forked version of BTC, like BCH or BSV.
The names Bitcoin and Bficoin don't even sound similar. I'm surprised that somebody could be fooled into thinking that Bficoin is Bitcoin.

[Ojima-ojo]

Sometimes we faced serious arguments with thos folks who do not understand anything about Bitcoin,  but just falsehoods being sold to them by the media and streamers so you are not alone in this and what I do must time os to caution those around me that cares to listen and make corrections.

But those that choose to be adamant about whatever
The information they got concerning Bitcoin and are convinced of the falsehood I let them be with time and experience will teach them a lesson, good enough Bitcoin is not a network funding scheme so I have nothing to gain wasting my time educating gullible individuals.

[KiaKia]

It is very easy to detect the difference between Bitcoin and BFicoin,  who the hell fell for this? They can easily fall for BiCoin, Bytcoin, and others, this is simple idiocy,  even as a crypto newbie it is stupid not to be able to tell the difference unless you don't have any level of education,  sorry OP,  this is unacceptable.

[Lucius]

The whole story is just proof of how much influence the media has on the average person who has "heard" about Bitcoin, and in fact cannot make a clear difference between Bitcoin and all other cryptocurrencies that in some way imitate the same, whether it is about max supply or they just have a name starting with B.

I don't like to interfere in other people's decisions when it comes to finances, but I would definitely warn everyone that this is not the Bitcoin they may be thinking of. However, if someone really wants to invest in altcoins, it is his decision and we should respect that decision. I know some people who bought BTC forks and still keep them today, but I guess it's a good feeling to have one whole Bitcoin, no matter what it was called and how meaningless it was.

[traderethereum]

Your friends should be able to tell the difference between BFIC and Bitcoin or BTC because the difference is obvious from the letters and pronunciation.
And you've also made it clear that it's a different coin with a different purpose and market ranking.
But if your friend doesn't want to accept your explanation, you shouldn't force him and let him see what will happen with BFIC.
At least that's what I do when I run into a friend who won't accept my explanation and it's up to them to decide.
So there's nothing wrong with thinking like that. It's just that he will see the truth later at the bull run.

[Aanuoluwatofunmi]

What some people do is to use the brand name of btc to attract attention in the process to advertise their own interest, they sometimes make comparisons to equate their own project as being thesame with bitcoin since they all fall under crypto, they have enough distractions confusing enough from believing that they are not bitcoin or associated with Satoshi, this are the things we should always be careful about, especially the newbies in this bitcoin era.

[andriarto]

There are indeed many ordinary people who view cryptocurrencies as bitcoins, and these coins use ordinary people to deceive them, considering that currently bitcoiners are only a small minority of most people. therefore for ourselves personally it would be better to learn beforehand to know something even in everything, so that we have broad insight and do not fall into deception using various modes, and if our friends insist on their stance, then let it go , because in the end they will realize it themselves, at least we reminded them

[Zlantann]

I don't know — but there's a clear distinction between bitcoin and bfiCoin. If a person doesn't see the difference between the two, then he's bound to lose money in this industry.

I agree with @mk4, there's only one daddy bitcoin. There's a million other clones, scams, and traps that are disguised as the real thing just for the intention of taking money from innocent people thinking it's a safe vehicle of investment. It's really sad actually.

P.S. If someone's profession is soccer, some other sport, making music, or entertaining people online, and they try to get you to buy anything other than a legitimate market leading coin, RUN. Run as fast away as you can and tell everyone you know that your favorite online/television personality or sports player is now a scammer. I bet you every single person in OP's picture has no idea what the heck bfiCoin even is. They are just being told to stand in front of the sign I'd imagine.

The difference is very clear but their are some person that don't pay attention to details. The sound and the spelling looks somehow alike and many uninformed persons might be deceived. In my country many people have been misinformed and scammed because some set of fraudulent individual choose to clone a particular product making it look like the original. Many shitcoins promoters claim that their coins are the same or even better than Bitcoin. That's why I always encourage anyone that engage in Bitcoin awarenesses projects because we really need them. We need to keep spreading the news of Bitcoin until it becomes a household name globally.

[KaliLinux]

One of my friend told me that he has heard about bitcoin as it is being advertised in that tournament and he asked me if he should buy Bitcoin as it was advertised in PSL ?

Was this the first time your friend hears about Bitcoin or you have discussed it before? I am curious because if he is hearing about it for the first time then why is he coming to you to discuss what he has never known before instead of asking for clarification of what it is Definitely, newbies to the crypto space could make these mistakes especially when they don't take the time to first know even though they are quite DIFFERENT.

[mk4]

The difference is very clear but their are some person that don't pay attention to details. The sound and the spelling looks somehow alike and many uninformed persons might be deceived. In my country many people have been misinformed and scammed because some set of fraudulent individual choose to clone a particular product making it look like the original. Many shitcoins promoters claim that their coins are the same or even better than Bitcoin. That's why I always encourage anyone that engage in Bitcoin awarenesses projects because we really need them. We need to keep spreading the news of Bitcoin until it becomes a household name globally.

In this case, I personally don't think so. If you check their website, it doesn't seem to be trying to copy Bitcoin at all. And if they wanted to be masquerading as the "real" Bitcoin, they could literally pick other names like the hundreds of Bitcoin shit forks we have.