Bitcoin and Ponzi Schemes - People are confused.

[Kakmakr]

I watch a popular breakfast show every morning and they always have a section where they talk about money matters. Yesterday, they talked about Crypto currencies and the guest mentioned several Ponzi schemes where Bitcoin was used as a payment option.

These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.

Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.

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[mk4]

Props to you for putting up with the bullshit, but I'm personally done with trying to fight these types of cases. Some people simply just don't want their minds changed. I'll just allocate my investments in a way that I can be personally comfortable even if bitcoin doesn't pump in 5 years.

[Plaguedeath]

So you watch it on the television where all of the contents are controlled and need permissions from the government, since Bitcoin is a currency where they can't control it, that's why they're give a misleading contents to many people. I think they're completely know what is Bitcoin and can find a difference between Bitcoin and ponzi scheme, but they just want to stir other people mind to hate and stay away against Bitcoin.

[Obari]

We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.

I'm one of the senior advocate of this because most times I blame my late adoption of Bitcoin on Ponzi scheme and I really regret it so hard so at every instance I get to educate people about Bitcoin I do and I also make it very clear to them that Bitcoin isn't a get rich scheme just as Ponzi schemes posses as, hence Bitcoin isn't Ponzi.

On the other hand, many persons are truly misinformed, even some persons over here as may think there is anything like free money and many think Bitcoin is free and the forum with its name as Bitcointalk, should be an earn ground for Bitcoin without any effort and at the end get so disappointed and in some cases abandon their accounts.

Props to you for putting up with the bullshit, but I'm personally done with trying to fight these types of cases. Some people simply just don't want their minds changed. I'll just allocate my investments in a way that I can be personally comfortable even if bitcoin doesn't pump in 5 years.

Yeah it's not easy preaching Bitcoin to people especially in a country like mine where people think you might have some personal interest before trying to get them into Bitcoin and at the end, I feel so bad about it.

One of the best way to draw attention of people into crypto is to live a life worth asking how you made it.

[dzungmobile]

Props to you for putting up with the bullshit, but I'm personally done with trying to fight these types of cases. Some people simply just don't want their minds changed.

Simple!

Tell them that the first Ponzi appeared from 1869 to 1872. [1]

That means Ponzi scheme was born about 2 centuries ago and Bitcoin is not responsible for that as it was born in 2009. Beyond Bitcoin, scammers apply Ponzi scheme by many other things: banks, stocks, hedge funds, supplementary medicine supplies etc.

[1] https://en.wikipedia.org/wiki/Ponzi_scheme

[mk4]

Simple!

Tell them that the first Ponzi appeared from 1869 to 1872. [1]

That means Ponzi scheme was born about 2 centuries ago and Bitcoin is not responsible for that as it was born in 2009. Beyond Bitcoin, scammers apply Ponzi scheme by many other things: banks, stocks, hedge funds, supplementary medicine supplies etc.

[1] https://en.wikipedia.org/wiki/Ponzi_scheme

If it was that simple, then we should already have 80%+ less FUD now. We have rebuttals for the 90%+ of the FUD; it's just that like I said — most people simply don't want to be convinced.

[slaman29]

I sort of agree that we shouldn't focus on Bitcoin as a ponzi schemes as it had nothing to do with Bitcoin itself other than the fact that it was used as a payment method.

However, I do agree that people should be more aware when schemes are asking for weird ways to invest. Why not actual fiat?

Then explain, Bitcoin doesn't make you rich. Nothing does. So if people are using the name Bitcoin in their scheme to get rich, it's most likely a scheme. This I can agree with.

[rby]

I watch a popular breakfast show every morning and they always have a section where they talk about money matters. Yesterday, they talked about Crypto currencies and the guest mentioned several Ponzi schemes where Bitcoin was used as a payment option.

These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.

Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.

Unlike what other people say about this topic as been unimportant. I see it as a topic that is very important. This is because when scammers comes up with method of scamming people they use bitcoin as a payment method and some of those people that are scammed are newcomers into this cryptocurrency or even the Ponzi scheme. So when they make payments with bitcoin, they know nothing about it and they will assume they have invested in Bitcoin not knowing that they sent it to the scammers in the end of the day. They will say that bitcoin is a scam not knowing that it is a method they used to make the payment.

[Farma]

in my country, cases like this are very much. they only know that bitcoin is forex trading or gambling. they don't even look into it and then assume that something is wrong. it may indeed seem trivial. however, for people like me, it's annoying. in fact, they always think that increasing money with bitcoin requires a lot of money, and what's more disturbing is, so many people get scammed from sites that promise very large percentages of profits within 1 month, and the payment uses bitcoin. they always blame bitcoin for the scam. however, education is indeed very important to make people understand bitcoin. however, people sometimes put up something bad and associate it with bitcoin, like that tv show.

[Pokapoka124]

Scammers also use fiat as a payment option. Kidnappers and terrorist demand wire transfers to offshore accounts and in some cases physical cash. This has been the modus operandi for many years, I’m yet to hear the media condemn fiat or someone in big media say “oh if it weren’t for the banks and fiat all these crimes wouldn’t be happening.“ That would be dumb, wouldn’t it?

[posi]

...

 We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.

I tried teaching about bitcoin to some people before, but they also thought I was scamming them, so I stopped teaching people about bitcoin, and I really don't care what other people think about bitcoin. Understanding bitcoin is their right and interest but they refuse, there is no reason for us to waste time with them. I will focus on my investment, that is what I will prove to them whether bitcoin is a ponzi or not. Explaining won't be as effective as showing them the results.

[tabas]

I did my part on this one whenever a friend or relative of mine start to talk to me about bitcoin, they all have one common description about it and it goes like this, "Isn't it bitcoin is a scam or a ponzi?" Something like that and I end up with a counter quickly that they should add the term "used". Bitcoin is just the medium of these ponzis and scams for them to attract more investors. Just like the typical scam and ponzi that uses fiat, if they have to describe it by how they're describing bitcoin then it should be fiat that's also a scam. And from there, they had a light and understanding of that bitcoin was just used and abused by these cons.

[Godday]

I personally think Bitcoin is just like paper currency used as a transaction tool.  The scams and fraud that occur in a Ponzi scheme actually have nothing to do with Bitcoin.  But as we already know, Cryptocurrencies are anonymous where all forms of transactions are decentralized.  I'm currently educating people on how to use Bitcoin or other altcoins properly and how to avoid being scammed by bad people using cryptocurrencies.

[riantolie]

I personally think Bitcoin is just like paper currency used as a transaction tool.  The scams and fraud that occur in a Ponzi scheme actually have nothing to do with Bitcoin.  But as we already know, Cryptocurrencies are anonymous where all forms of transactions are decentralized.  I'm currently educating people on how to use Bitcoin or other altcoins properly and how to avoid being scammed by bad people using cryptocurrencies.

True, scams were performed for centuries and crypto is not s course of the problem, just a tool. To be honest, it's hard for me to understand how people fall for those scams, because it's not about crypto knowledge, it's all just about common sense. Someone tells them to send them money and people just do that, like, what the hell.

[tranthidung]

If it was that simple, then we should already have 80%+ less FUD now. We have rebuttals for the 90%+ of the FUD; it's just that like I said — most people simply don't want to be convinced.

It is simple answer we can tell and all we should do is that.

There are two main types of people: first type is very easily to change their minds and they're like open-minded. If we give them solid explanation, they are open-minded enough to listen to what we told them and change their stance.

A second type is like close-minded or narrow-minded, they never want to listen to others especially to opposite stance. For those people, let them be with their original opinion, we can not change it.

[KaliLinux]

I watch a popular breakfast show every morning and they always have a section where they talk about money matters. Yesterday, they talked about Crypto currencies and the guest mentioned several Ponzi schemes where Bitcoin was used as a payment option.

These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.

Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.

I agree. I believe it is all about understanding. How many times do these same people talk about the Ponzi schemes where people lose their fiat money?  When that happens it is about the Ponzi scheme itself and if it happens to involve Bitcoin, it is the fault of Bitcoin and it is mainly because they are biased in their view with regards to crypto (Bitcoin) in particular and Fiat.

[Sweetbtc]

Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.

Many schemes are running which use stable coin for payment and later these schemes are fraudulent.And there are many schemes that use Bitcoin as payment.Now any project uses any currency, stable currency or Bitcoin as payment,And if it is later found out that the project or scheme was a Ponzi scheme,So it would be wrong to blame Bitcoin for this.Paying into any ponzi scheme by buying bitcoin or any other cryptocurrency from an exchange and later blaming bitcoin would be redundant.I myself have been a victim of such a Ponzi scheme where payment was made in USDT. Later it turned out to be a Ponzi scheme. But the USDT was not to blame,And I never blamed the USDT for that.payment can be made in any form,so it would be wrong to blame the Bitcoin or other currency.

[Dickiy]

Yet if we look at the same view the fiat and gold currency can also be included in that category, because the problem is not in the currency but in the scheme strategy, Ponzi can be used with anything, why they don't see it and only exclude bitcoin.
Yes maybe this is deliberately to indoctrin the public through TV channels, we are well aware of it wherever they are, especially bankers who are very hate hate Bitcoin.
But it's okay, something like that must be there because people who listen to the fuders today will regret in the future and Bitcoin will be in the heyday one day, with the same sentence so many people (I regret why I refuse Bitcoin and don't know him earlier).

[salad daging]

I once saw a Tiktok video about discussing the ponzi scheme he said that all crypto was a ponzi scheme including bitcoin I thought this was indeed something wrong when there was a lot of fraud and the payment option using bitcoin or another crypto then people who did not understand would blame this digial crypto asset, obviously they do not have a pretty broad understanding so that blaming that has nothing to do with Bitcoin.

Right, Bitcoin never demands us to be rich in any case but we must realize there is time where Bitcoin can go up and go down due to its volatility, I will still straighten this if someone talks to me, I say Bitcoin is not the same as the scheme Ponzi is a mindset must be changed.

[Husires]

The media is controlled in two ways, either through investments, and here the influential and financial ones control the media channels and direct them to serve their agenda.
The other way is popular pressure to increase the number of people who ignore these channels and thus lose their importance because the importance of the channel is determined by the number of people who follow it.

Therefore, controlling the media through the first method seems difficult, and therefore you should ignore these channels and teach your friends correct information about Bitcoin and leave them the choice.

With the passage of time and the use of people, we will see the media change 180 degrees.