Crypto Is Scam!!!

[Glowy]

So says an ignorant fellow.
Hearing people talk about cryptocurrency as a digital asset, made me think how was this asset manufactured? It turned out David Chaum's effort to enable anonymous transactions led to the introduction of ecash, in 1990. This is an easy find, it doesn't take much look to get information.

Well, recently I started looking and correlating it with the globe being a digital village, I am still learning though.

Isn't it awesome how some crypto projects are geared towards solving real life problems. Interestingly, this space evolves. This is a clear pointer that there must be something about cryptocurrency.

Rather than read to acquire knowledge someone sits in the middle of their ignorance to declare crypto a scam. Like they were forced to accept cryptocurrency for a transaction.
I think the fear of the unknown and unwillingness to try new things got some people bound in fetters.

Now, haven carried out a few transactions successfully, I am convinced, hence my interest in this space.

With the little knowledge of crypto that I have, I am wondering how someone can be in the dark and feel comfortable about it. Worse off is arguing blindly over what they know little or nothing about.

Is this the case of a closed mind, or ignorance, what exactly could be this?

I believe the Internet is a home to all who seek knowledge, even though you might get lost if you are not guided.

Are we still in the era where people condemn what they have no knowledge about? Or crypto is actually a mirage?

Just venting and open for more. Tell me what I don't know.

What do y'all say?

[Darker45]

There are numerous factors why a lot of people don't know or aren't interested in Bitcoin. Some heard about it somewhere at some point but don't want to learn more. I hope they aren't simply lazy. Many are probably too busy about other important things. Others are probably comfortable with how things are.

Some are cautious in dealing with new and strange stuff. Many aren't tech-savvy enough to even try understanding Bitcoin. There are also people whose day-to-day lives Bitcoin simply doesn't belong.

But to those who argue against Bitcoin but are in fact ignorant about it, lazy to do research, and so on, leave them alone. There are only two possibilities with this kind of people. One, they will eventually turn around like Saylor, Trump, Fink, and others. Two, they will stick to their wrong opinion whatever happens like Schiff, Taleb, and the like. Either way, you can leave them alone.

[MusaMohamed]

Hearing people talk about cryptocurrency as a digital asset, made me think how was this asset manufactured?

Cryptocurrency is a broad term for an industry, and it has many cryptocurrencies in this branch industry. It's not too rightly by generalizing that cryptocurrency is a digital asset.

It turned out David Chaum's effort to enable anonymous transactions led to the introduction of ecash, in 1990. This is an easy find, it doesn't take much look to get information.

You can read some documents about Bitcoin prehistory and some projects created before Bitcoin in 2009.

Bitcoin Preshitory (Saylor.org Academy).
Bitcoin prehistory.
Bitcoin prehistory tree.
Bitcoin and cryptocurrency technology (Princeton Universtiy Press). It's a draft and if you want to get a complete book, download it there.

[cryptoaddictchie]

You are gifted writer and speaks your mind very well. But if you dont believe in something doesnt mean it wasnt real at all. Most users will think of bitcoin as digital asset and just na investment but it can be used for transaction conveniently. Nowadays theres plenty of gateway for that on bitcoin, which can be utilized even in small things.

Like using it to pay for grocery instantly.

[Charles-Tim]

Rather than read to acquire knowledge someone sits in the middle of their ignorance to declare crypto a scam. Like they were forced to accept cryptocurrency for a transaction.

I will also not say crypto is scam but I will say they are like gambling. Many of the altcoins are pump and dump. Some new projects are not even pump and dump but only dumped as the coin get listed. Some are scam in a way the developers stopped the project on the day of the launch or some days before. The altcoins are not getting to all-time high. Just some coins like bitcoin are store of value.

[Felicity_Tide]

Hearing people talk about cryptocurrency as a digital asset, made me think how was this asset manufactured?

Well, till this very point, I still believe that not every crypto currency should be tagged as assets. They are all Digital, but the values of most of them can become a liability or loss. How about Bitcoin... I think that sounds better.

Rather than read to acquire knowledge someone sits in the middle of their ignorance to declare crypto a scam. Like they were forced to accept cryptocurrency for a transaction.
I think the fear of the unknown and unwillingness to try new things got some people bound in fetters.

Experience they say is best teacher, but how do we even tell if something is scam when we haven't try it?. That's where the risk comes in. Those who use it today saw something different, which they believed, before taking the risk to do, and at the end, it turns out to be a very good decision.

You can't really blame them much though.
Even before now, humans has been very sceptical about new things, which has even made so many of them to miss out. If you've read the book: " The internet of money", by Andreas, you will realize that ignorance and scepticism had started even far before the introduction of the internet.

Is this the case of a closed mind, or ignorance, what exactly could be this?

Let's just say, it's a matter of decision.
Everyone gets to do and choose whatever they want.
Those who are fed up with the whole centralized thing, will definitely seek for knowledge.

[Floxynice]

Rather than read to acquire knowledge someone sits in the middle of their ignorance to declare crypto a scam. Like they were forced to accept cryptocurrency for a transaction.

I will also not say crypto is scam but I will say they are like gambling. Many of the altcoins are pump and dump. Some new projects are not even pump and dump but only dumped as the coin get listed. Some are scam in a way the developers stopped the project on the day of the launch or some days before. The altcoins are not getting to all-time high. Just some coins like bitcoin are store of value.

Some people who believe crypto is a scam were first introduced to pump-and-dump projects and shitcoins. They’ve learnt their lessons, and nothing anyone says can convince them to invest in any other cryptocurrency, not even Bitcoin. Only a few resilient individuals keep trying until they succeed.

I still remember how my boyfriend started with crypto. He first invested in shitcoins and lost, then tried another coin and got scammed. Eventually, he settled for Bitcoin, and he’s doing just fine now. Others may draw conclusions just from their first experience with crypto.

Bitcoin isn’t for everyone. No matter how we frame it, some will always prefer traditional systems. As you said, to them, investing in crypto feels just like gambling.

[btcltcdigger]

Close but no dice. 99% of crypto is a scam, that is true, as people have found ways to print money out of thin air with help of greedy and gullible people.
Those projects that are legit however, they survive for years. Trick is to find the ones that are actually worth investing in

I've seen many projects with awesome roadmaps and stories, and people fell for them, and they ended up in a trash can in the end.

[TravelMug]

Close but no dice. 99% of crypto is a scam, that is true, as people have found ways to print money out of thin air with help of greedy and gullible people.
Those projects that are legit however, they survive for years. Trick is to find the ones that are actually worth investing in

I've seen many projects with awesome roadmaps and stories, and people fell for them, and they ended up in a trash can in the end.

Yeah, and that is the sad part of the market, there are a lot of crypto projects who's intention is to scam people blatantly and what we call rug pull. It might have given crypto space a bad connotation that's why many are still anti-crypto for that matter.

Nevertheless, it's up to us where to invest by doing our research and due diligence. It's not that because someone in the social media is promoting it then suddenly we will follow because he is a influencer. We still need to be self-aware and do everything in our power to check everything before investing our hard end money.

[348Judah]

We have to let the world know that cryptocurrency is not a scam, it's a digital currency and a means of exchange and a digital asset, but to be sincere, not all the people knows about this fact, some will take it as the same as the other online investments or ponzi schemes,  but for the benefits of those who have taken their time in learning to know what bitcoin is, they have found lots and many more interesting facts to hold on to its adoption, that is why it is very necessary for us to always engage on research whenever we heard about something before drawing a conclusion over it, scam is everywhere and crypto is not a scam, except we allow others to scam us.

[Lucius]

~snip~
Rather than read to acquire knowledge someone sits in the middle of their ignorance to declare crypto a scam. Like they were forced to accept cryptocurrency for a transaction.

The vast majority of cryptocurrencies are actually scams in nature, as they have no purpose or meaning other than someone trying to make money through a pump&dump scheme. After all, everyone is entitled to their own opinion, but that doesn't mean everyone should be taken seriously.

Are we still in the era where people condemn what they have no knowledge about? Or crypto is actually a mirage?

Why does that surprise you? Most people won't admit they don't understand something, but will instead find the easiest way to define something - it's always been that way and I don't believe that will ever change.
 
For some people, BTC is still a mirage - do you think Warren Buffett has changed its mind about it? But why would it be a problem for you what he and some others think - it's not like you're asking for their approval to invest your money in something?

[Kristiyana]

There are numerous factors why a lot of people don't know or aren't interested in Bitcoin. Some heard about it somewhere at some point but don't want to learn more. I hope they aren't simply lazy. Many are probably too busy about other important things. Others are probably comfortable with how things are.

Some are cautious in dealing with new and strange stuff. Many aren't tech-savvy enough to even try understanding Bitcoin. There are also people whose day-to-day lives Bitcoin simply doesn't belong.

But to those who argue against Bitcoin but are in fact ignorant about it, lazy to do research, and so on, leave them alone. There are only two possibilities with this kind of people. One, they will eventually turn around like Saylor, Trump, Fink, and others. Two, they will stick to their wrong opinion whatever happens like Schiff, Taleb, and the like. Either way, you can leave them alone.

You're right anyone who is seeing bitcoin investment the other way round when he/she did not even bother to make intensive research about it so as to know how the future looks like before making unnecessary argument about bitcoin, of course this set of people need to be Left alone. Until they figure out what bitcoin investment is all about, because if you keep exchanging words with them it will still look asive you're trying to defend it. So is better they know it by themselves, than trying to prove it to them.

[Son Of Blockchain (SOB)]

Hearing people talk about cryptocurrency as a digital asset, made me think how was this asset manufactured?

Cryptocurrency is a broad term for an industry, and it has many cryptocurrencies in this branch industry. It's not too rightly by generalizing that cryptocurrency is a digital asset.

It turned out David Chaum's effort to enable anonymous transactions led to the introduction of ecash, in 1990. This is an easy find, it doesn't take much look to get information.

You can read some documents about Bitcoin prehistory and some projects created before Bitcoin in 2009.

Bitcoin Preshitory (Saylor.org Academy).
Bitcoin prehistory.
Bitcoin prehistory tree.
Bitcoin and cryptocurrency technology (Princeton Universtiy Press). It's a draft and if you want to get a complete book, download it there.

You've said well, instead of using the general word Crypto they should just call out the particular coin or token they got scammed with than generalizing, Crypto is the general word for all including Bitcoin and as we all know Bitcoin is not and never a scam, except people allow themselves to scam activities by exposing their passphrase or saving Bitcoin in exchanges that are not easily secured.
 It thnk it's good for everyone to acknowledge the right crypto and venture into it so they won't end up calling crypto in general a scam when they've lost heavily to it, I've come to understand that most people who think Crypto is a scam are those who invest on newly introduced shitcoins to gain quick profits, they end up pumping and dumping thereby making those who invest on them call Cryptocurrency a scam.

[Die_empty]

Are we still in the era where people condemn what they have no knowledge about? Or crypto is actually a mirage?

Just venting and open for more. Tell me what I don't know.

What do y'all say?

There will never be an end to ignorance and misinformation, so people will always condemn cryptos. Sometimes you don't blame people who call crypto a scam. Some of them have had past experiences where they were scammed by some shitcoin developers and other criminals.  However, instead of dwelling in ignorance, they would have gained knowledge about the crypto space to enable them to benefit from the sector.  I have also thought that the crypto industry is filled with scams but the forum helped me to see that I was just wallowing in ignorance.  

[btcltcdigger]

Nevertheless, it's up to us where to invest by doing our research and due diligence. It's not that because someone in the social media is promoting it then suddenly we will follow because he is a influencer. We still need to be self-aware and do everything in our power to check everything before investing our hard end money.

Oh but people are stupid and lazy my friend.
we'd rather take advice from some influencer with a rented out Lambo to invest into "dogshitcoin" than to take few hours and read a financial report.
It's always the same story

[moneystery]

i wouldn't say that crypto is a scam, because there are some tokens that have managed to grow and survive, but i can say that it is a more volatile and risky market, like memecoin, this is a crypto that is more like gambling, where people who put their money in it only expect high profits in the short term even though in most cases it ends tragically. and so do other cryptos, there are many tokens that promise a lot of sweet things but in the end they are just scams for their investors. this is like a market full of uncertainty and high volatility, which makes it more risky for buyers.

[Dailyscript]

There are numerous factors why a lot of people don't know or aren't interested in Bitcoin. Some heard about it somewhere at some point but don't want to learn more. I hope they aren't simply lazy. Many are probably too busy about other important things. Others are probably comfortable with how things are.

Some are cautious in dealing with new and strange stuff. Many aren't tech-savvy enough to even try understanding Bitcoin. There are also people whose day-to-day lives Bitcoin simply doesn't belong.

But to those who argue against Bitcoin but are in fact ignorant about it, lazy to do research, and so on, leave them alone. There are only two possibilities with this kind of people. One, they will eventually turn around like Saylor, Trump, Fink, and others. Two, they will stick to their wrong opinion whatever happens like Schiff, Taleb, and the like. Either way, you can leave them alone.

I see a lot of meaning in what said here. It is true that the way we get to know about something is literally the way we will see it. There are many persons that their first time getting to know about Bitcoin and any cryptocurrency is through scam, with so many other bad ways we can think of. Those persons who becomes victims of it never want to have/hear anything that has to do with cryptocurrency. But deep down that is not its true nature. Bitcoin and cryptocurrencies can help an individual to perform certain things and its best they start learning the right way of it.

[Patikno]

The same thing also happened in my environment, and in fact, many people still consider crypto to be a scam, but I am sure they consider crypto to be a scam because there was once a case of "Binary Option" which was declared a fraud in my country, and they previously said that the way to use binary options was by doing "Trading", so my environment is very anti-word "Trading", and immediately labeled crypto as a scam because there is trading in it. Even so, I feel that this is a misunderstanding and also includes ignorance, it could be because of the lazy factor of reading. So I, as someone who understands, will continue to educate them about what crypto is, and especially Bitcoin, so that there is no misunderstanding.

[God Of Thunder]

Crypto had a different purpose when it was invented. Bitcoin had a goal, it was supposed to be your own bank and privacy money. But the purpose totally changed now. If you ask me why I use crypto, my answer is too clear. I use crypto because there is a chance to make money in crypto and there is a possibility I can double my investment. I believe I am not the only one with such a belief. There are thousands of crypto users who in this space just because they want to make money and they are here because they want to multiply their investment.

[Luzin]

Are we still in the era where people condemn what they have no knowledge about? Or crypto is actually a mirage?

Just venting and open for more. Tell me what I don't know.

What do y'all say?

This is because there is a lot of bad news circulating regarding crypto. More criminals are taking advantage of the situation to gain an advantage on new people who want to get into crypto. They scam new people and it makes a lot of people feel crypto is bad. Although there are not many, I feel that most of the people living today are the older generation who are still very weak in technology. So many of them were deceived.

But right now I see the millennial generation starting a lot and they have understood the essence of crypto well. Not focusing on money, crypto brings changes and good uses to make people's lifestyles easier. So right now I think crypto development is better. After the recognition of crypto by several countries, even having been on major exchanges this could be a strong reason for the opinion of a crypto scam to be very wrong. We must be able to straighten out the problem of bad opinions about crypto.