Why Technical Knowledge Alone Does Not Protect People From Scams.

[L E G E N D A R Y]

Keeping things online specially related to wallet is always big problem because its never been recommended for anyone to do this but still peoples are having not doing things with responsibility because they feel they are doing their best many learn after having loses just fewest are learning after reading and having checking because they understand consequences of having things like these.

Well the truth really is that experience is truly the best teacher, but in several cases, it’s better to learn from the experience of others who have been in similar situations like you before… because not everyone have the capability to survive certain losses. We’ve heard of cases where some folks took their lives because of some severe losses, some gave up on investing and different cases. So it’s better to learn from the losses of others and protect yourself in the best way possible so it doesn’t happen to you, one must not wait to experience it first before they learn.

[Franklyn-wood]

Keeping things online specially related to wallet is always big problem because its never been recommended for anyone to do this but still peoples are having not doing things with responsibility because they feel they are doing their best many learn after having loses just fewest are learning after reading and having checking because they understand consequences of having things like these.

Well the truth really is that experience is truly the best teacher, but in several cases, it’s better to learn from the experience of others who have been in similar situations like you before… because not everyone have the capability to survive certain losses. We’ve heard of cases where some folks took their lives because of some severe losses, some gave up on investing and different cases. So it’s better to learn from the losses of others and protect yourself in the best way possible so it doesn’t happen to you, one must not wait to experience it first before they learn.

I have come to understand that there are different ways people see things and how they understand it. Some after being told or seeing what happens to others and learn from it, they will want to try same thing to know if they could overcome in the same thing or place where others failed. Maybe they don't believe in failure so given it a trial gives them the chance for try there own experience, only to fall victim  of same mistake.

[L E G E N D A R Y]

I have come to understand that there are different ways people see things and how they understand it. Some after being told or seeing what happens to others and learn from it, they will want to try same thing to know if they could overcome in the same thing or place where others failed. Maybe they don't believe in failure so given it a trial gives them the chance for try there own experience, only to fall victim  of same mistake.

This is very similar to what we are discussing in a similar thread somewhere. I believe the reason for this is overconfidence. Some people feel too confident that even when the failures and mistakes of others should serve as warning signs to them, they end up looking at it as though the other person isn’t good enough or know better and that was why they end up failing. And so they believe they can do it better due to overconfidence, and then experience becomes the best teacher and they only get to realize after they’ve fallen into the same mistake.

[cxtreenal]

Keeping things online specially related to wallet is always big problem because its never been recommended for anyone to do this but still peoples are having not doing things with responsibility because they feel they are doing their best many learn after having loses just fewest are learning after reading and having checking because they understand consequences of having things like these.

Well the truth really is that experience is truly the best teacher, but in several cases, it’s better to learn from the experience of others who have been in similar situations like you before… because not everyone have the capability to survive certain losses. We’ve heard of cases where some folks took their lives because of some severe losses, some gave up on investing and different cases. So it’s better to learn from the losses of others and protect yourself in the best way possible so it doesn’t happen to you, one must not wait to experience it first before they learn.

Some may disagree with you. Experience is the best teacher, but in my opinion, gaining experience alone is not the only way to make a profit. Many experienced investors lose money and many experienced gamblers lose money.

The main thing is that you have to be patient and be skilled in fund management. In the case of investment, many experienced investors lose money because they understand too much, while a less experienced investor can be successful in long term investment and make huge profits.

Another thing is to acquire the ability to control emotions. Many experienced investors can be involved in investment for a long time, but if they cannot control their emotions, experience will not be of any use. Many do not have the ability to handle losses, which is right. In such a situation, every investor needs to acquire patience and skill in fund management.

[knowngunman]

I have come to understand that there are different ways people see things and how they understand it. Some after being told or seeing what happens to others and learn from it, they will want to try same thing to know if they could overcome in the same thing or place where others failed. Maybe they don't believe in failure so given it a trial gives them the chance for try there own experience, only to fall victim  of same mistake.

I will categorise this set of people as the most foolish and dumbest people on earth. I know sometimes one can be skeptical about some information and would want to find out the truth themselves but if they end up falling for that same scam in the process of curiosity, I would say they are not using their brain at all. Some trials do end up in a scam but definitely not when you were already aware of the situation and know the trick already. There are patterns you should know that this is scam, you don't need to fall victim before you confirm it is scam.

[ImGenius]

The weakness of experienced people is to think themselves to be excessively wise, when they reveal themselves to others, others take the challenge of stealing their wealth. That is why wise people advise to always keep the matter of wealth and knowledge acquisition secret.

Technological knowledge protects people from fraud, this is absolutely correct because technology is constantly moving forward at the present time, so gaining knowledge keeping pace with technology has become the main goal. The more aware we are about technology, the more possibility we will have to be protected from fraud.

Not only experienced people because those who think themselves too knowledgeable are a kind of fool. Those who are actually experienced will never claim themselves to be knowledgeable separately. However, one thing am liking is the matter of always advising to keep it secret.

[Tongley]

I have come to understand that there are different ways people see things and how they understand it. Some after being told or seeing what happens to others and learn from it, they will want to try same thing to know if they could overcome in the same thing or place where others failed. Maybe they don't believe in failure so given it a trial gives them the chance for try there own experience, only to fall victim  of same mistake.

I will categorise this set of people as the most foolish and dumbest people on earth. I know sometimes one can be skeptical about some information and would want to find out the truth themselves but if they end up falling for that same scam in the process of curiosity, I would say they are not using their brain at all. Some trials do end up in a scam but definitely not when you were already aware of the situation and know the trick already. There are patterns you should know that this is scam, you don't need to fall victim before you confirm it is scam.

Some scams are easy to spot. For example, if someone tells you that you can get $2,000 by clicking on this link, it sounds like a scam and there is a 90% chance that the link is a scam. In some cases, our common sense is enough to protect us from scammers. If we are aware and we are very careful in every situation, then we can definitely protect ourselves from scams.

[Aanuoluwatofunmi]

That you are technically oriented or not does not prevent you from being scammed, because there are difference ways by which people got scammed today in cryptocurrency, anyone is prone to do a silly mistake and that could be an exposure to set him as a target. It could also be another form of scam that even an experienced technical user may not understand; scammers may try to introduce tricks to them until they fall for it.

[Berry2d]

Being victim of scam even with once high technical knowledge at times do occur because of how confident we may think we are in crypto involvement, most times we so much believe in ourselves without knowing a silly mistake can become disastrous to our years of suffering.
Our high level of knowledge without the introduction of carefulness and self control to some fabricated opportunities is never enough reason to prevent us from being scammed.
In other to be free from scam, we most be very careful and observant enough never to fail into any fabricated trap because of over confidence and believe we can't be scammed

[AlexW333]

This thread came about because of the conversation I had with my friends yesterday. At least one of my friends stated that most people get scammed because they don't know much of technical things.

I can partly agree with him, as indeed, not knowing much, or not knowing about technical things can make it easier to be scammed by someone.  However, there are also many cases where technical skilled individuals still fall victim to fraud.

So, if technical knowledge is not enough what else is needed? Imo, what I think is needed are: critical thinking, emotional control, patient and healthy skepticism, because scammers mostly succeed because they explore human psychology rather than technical weakness. therefore,  greed, trust, fears, urgency and overconfidence are some of the common tools used by scammers.

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

I think timing matters a lot here too

You can know all the common scam tricks and still make a stupid mistake when you’re tired, in a hurry or waiting for some transaction to go through

Especially when the message arrives at exactly the “right” moment like fake support contacting you while you’re actually having an issue with a wallet or exchange
Normally you’d probably spot the scam in seconds, but in that situation it can look surprisingly real

That’s why any message that pushes you to “act now” is probably a good reason to do the opposite
slow down and double-check everything

Tech knowledge definitely helps, but sometimes the real target isn’t your wallet, it’s your attention

[Sobz]

Being technically skilled doesn't prevent anyone from getting scammed, I believe I have come across some people arguing this particular point. Most of us have this belief that those who are technically skilled can't be scammed by anyone, because of how knowledgeable they are, but that's not true, anybody can be vulnerable to scammers. Scammers exploit human psychology more technology. However, it is still good to have technical knowledge.

But i think their is an advantage to this because their is no how one who is technically sound in bitcoin wont understand how the security of bitcoin works, but this doesn’t mean people who have technical knowledge of Bitcoin a free from being scammed.
Having the technical understanding of bitcoin makes one to understand between a non-custodial and custodial wallet where will be safe to invedt in bitcoin. Someone who have the technical understanding can still be careless, greedy, impatience and with this it can be an advantage for scammers to scam people.

[Abu-Naim]

I think timing matters a lot here too

You can know all the common scam tricks and still make a stupid mistake when you’re tired, in a hurry or waiting for some transaction to go through

Especially when the message arrives at exactly the “right” moment like fake support contacting you while you’re actually having an issue with a wallet or exchange
Normally you’d probably spot the scam in seconds, but in that situation it can look surprisingly real

That’s why any message that pushes you to “act now” is probably a good reason to do the opposite
slow down and double-check everything

Tech knowledge definitely helps, but sometimes the real target isn’t your wallet, it’s your attention

That’s true, but your knowledge should be able to tell you that no matter how stressed you are or how feed up you can be any transaction related to crypto, you can make mistakes and you can’t rely on any customer support since you know how scammers operate. You need to always use the knowledge you have to differentiate scam from original source, if you can’t, your technical knowledge is not useful at all because it is supposed to guide you towards having a successful transaction.

Technical knowledge is very important in Bitcoin and crypto generally, but you have to also be smart to use it effectively because you will hold yourself responsible for any scam you involved yourself into if you aren’t careful.

[Fordsmith]

Even if you know all the tech stuff, your emotions can still mess you up. Scammers rarely hack the system—they just fool you. Take a breath, check everything, and don't make fast choices when you're hyped or pressured.

[Johnlomape]

I have come to understand that there are different ways people see things and how they understand it. Some after being told or seeing what happens to others and learn from it, they will want to try same thing to know if they could overcome in the same thing or place where others failed. Maybe they don't believe in failure so given it a trial gives them the chance for try there own experience, only to fall victim  of same mistake.

This is very similar to what we are discussing in a similar thread somewhere. I believe the reason for this is overconfidence. Some people feel too confident that even when the failures and mistakes of others should serve as warning signs to them, they end up looking at it as though the other person isn’t good enough or know better and that was why they end up failing. And so they believe they can do it better due to overconfidence, and then experience becomes the best teacher and they only get to realize after they’ve fallen into the same mistake.

Being confident without doing the right thing can lead to regret. There are people that have been in this condition before and they had to learn how to keep their Bitcoin safe from hackers or scammers. Having a technical knowledge about Bitcoin does not change the ability of scammer to take what belongs to you. What people should be learning after gaining knowledge about Bitcoin technical is how to keep their investments safe from the public eyes. At least preventing possible attacks from scammers and hackers will make an investor have suitable experience that supercedes just getting the technical knowledge.

[PVequalNRT]

That you are technically oriented or not does not prevent you from being scammed, because there are difference ways by which people got scammed today in cryptocurrency, anyone is prone to do a silly mistake and that could be an exposure to set him as a target. It could also be another form of scam that even an experienced technical user may not understand; scammers may try to introduce tricks to them until they fall for it.

Scams comes in different ways. Some people loss their coins because they downloaded fake wallet from play store. You may think they are not smart but there are plenty of clone apps on the internet that scammers built to impersonate original wallet. Such wallet take peoples private keys and seed phrase and move everything they have on their wallet.

The advantage of technical aspect of Bitcoin is that you get to know the simple tricks scammers used on people to take their money away from them. That's the advantage you have over a person that does not have technical knowledge.