Why Technical Knowledge Alone Does Not Protect People From Scams.

[Plutomanian]

It is possible to have knowledge and still end up getting scammed and this is can happen when you don't get somethings In check and those things are emotions like greed and also the need to make quick money. People that have experience in the financial market throw their knowledge outside the window when they come across something that promises to pay a huge amount of money within short period of time, technically they know that this is something that is going to fail but their greed just makes them stop thinking rationally.

We know what we want in the market and how we're pushing ourselves upper and upper. It's very important we know about our weakness because that's what we make us lose heavily in the market. Scams can never be eliminated from the market, but it can be prevented, but we're not exempted by scammers infact we're the targets that they're implementing new strategy to help us enact their techniques towards scamming.

It's fine to have full knowledge about the market, we can be intellectual enough to handle our losses and the market but our weakness is the problem here. We're then open to much vulnerability and we can't control them rather than stacking up and moving in our own direction.

[Awaisjanizz11]

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated.

As joy maker said that understanding the work of wallet and how Blockchain transaction and signature works is perfectly ok,but it can't save you from being tricked.We recently heard a news that "MORE THAN ¥2 TRILLION HAS BEEN WIPED OUT OF CHINESE STOCKS IN JUST 10 MINUTES." It means that it doesn't means that being perfect in wallets or blockchains can save you from being scammed or being hacked . Nowadays scammers and hackers are also using the pov of the targets to know better about the weaknesses of the targets . We should use some of our common sense and not share any kind of information related to our wallets or something else where you keep your currency with our family,friends and someone else closed to you . They can be the snakes in the grass.

[puloweh555]

That you are experienced in technical aspect of Bitcoin does not mean you are 100% protected except you maintain all the necessary precautions that are needed to be observed as the Bitcoin or crypto holder, don't create a vulnerability that will serve as an entry route for scammers to hack you and take away your coins, don't also reveal anything about your personal information or wallet keys online or even to a third party, avoid public appearance because of wrench attack as some scammers are only targeting on physical appearance to some crypto holders using wrench attack.

Yes. Physical threats like a “wrench attack” are very real and often target people who appear to show off as crypto owners. So, we really shouldn’t flaunt the assets we have and should always keep our privacy to avoid such risks. 

Besides scammers and hackers are actually different. Scammers usually rely on psychological tricks and often offer big rewards to grab your money. On the other hand, hackers usually focus on technical loopholes in systems, networks or software to get unauthorized access. So, this difference is important because the threats they pose are different and even the ways to deal with them are different.

If you have technical knowledge of course that will help protect you from hackers while usually experience and caution are more effective against scammers. You just need to read a lot about different types of scams and how to prevent them. The main point is when it comes to dealing with both scammers and hackers generally you need to be cautious and read a lot.

[Fiasem20]

It is possible to have knowledge and still end up getting scammed and this is can happen when you don't get somethings In check and those things are emotions like greed and also the need to make quick money. People that have experience in the financial market throw their knowledge outside the window when they come across something that promises to pay a huge amount of money within short period of time, technically they know that this is something that is going to fail but their greed just makes them stop thinking rationally.

It's fine to have full knowledge about the market, we can be intellectual enough to handle our losses and the market but our weakness is the problem here. We're then open to much vulnerability and we can't control them rather than stacking up and moving in our own direction.

It’s crucial to have full knowledge about scam tactics but even if you have little knowledge about scam strategies you can still survive in the crypto space.Sometimes your instincts speak to you about a project that’s not legit but you ignore it until you finally become a victim.That’s why I said even with the little knowledge you have you can still succeed in the crypto space because your instinct would be there to direct you,I’m not saying acquiring the technical knowledge on how to secure your coins is a complete waste of time,but even the basic knowledge you have and your instinct that’s inside of you would serve as a directive.Then lastly most people are victims of scam because they tend to believe every project that seems as a route to become successful in a short period of time.

[Rabata]

It is possible to have knowledge and still end up getting scammed and this is can happen when you don't get somethings In check and those things are emotions like greed and also the need to make quick money. People that have experience in the financial market throw their knowledge outside the window when they come across something that promises to pay a huge amount of money within short period of time, technically they know that this is something that is going to fail but their greed just makes them stop thinking rationally.

It's fine to have full knowledge about the market, we can be intellectual enough to handle our losses and the market but our weakness is the problem here. We're then open to much vulnerability and we can't control them rather than stacking up and moving in our own direction.

It’s crucial to have full knowledge about scam tactics but even if you have little knowledge about scam strategies you can still survive in the crypto space.Sometimes your instincts speak to you about a project that’s not legit but you ignore it until you finally become a victim.That’s why I said even with the little knowledge you have you can still succeed in the crypto space because your instinct would be there to direct you,I’m not saying acquiring the technical knowledge on how to secure your coins is a complete waste of time,but even the basic knowledge you have and your instinct that’s inside of you would serve as a directive.Then lastly most people are victims of scam because they tend to believe every project that seems as a route to become successful in a short period of time.

With technical knowledge, there is definitely a need for psychological awareness. Technical knowledge alone cannot save an investor if he lacks awareness. If he does not have the ability to control it. We often see cases where a person knows the security issues very well but he loses his wealth due to greed. For some reason, he may have entered a site due to which he lost the wealth in his wallet. Despite being experienced, that person had to lose. Although this does not happen in everyone's case, there are many people in the crypto space who get greedy. They lose wealth because they cannot control their greed. That is why I must say that a person does not need to be very skilled in investing. If he starts investing with basic knowledge and is in the right position in his psychology, then he will be able to protect a lot of his wealth and can gradually gain more skills after investing.

[GbitG]

Knowledge is not just a name of perfection... I saw a lot of big profile where they have an extraordinary knowledge about technical aspects but still they got trapped. I got one thing form then that only knowledge can't shield you against scammers. So if you want to avoid form scammers then probably you will need to keep update of your access because scammers will try to find loophole in your privacy element or  sometimes they will even try to manipulate or pressure you into following their instructions.....

So simply just keep eye on your privacy element as well as avoid the greed pulse understand the dodging domino like if someone is offering you a free object then definitely there will be something else behind it. So always think before click.

[SPIDERMAN008]

With technical knowledge, there is definitely a need for psychological awareness. Technical knowledge alone cannot save an investor if he lacks awareness. If he does not have the ability to control it. We often see cases where a person knows the security issues very well but he loses his wealth due to greed. For some reason, he may have entered a site due to which he lost the wealth in his wallet. Despite being experienced, that person had to lose. Although this does not happen in everyone's case, there are many people in the crypto space who get greedy. They lose wealth because they cannot control their greed. That is why I must say that a person does not need to be very skilled in investing. If he starts investing with basic knowledge and is in the right position in his psychology, then he will be able to protect a lot of his wealth and can gradually gain more skills after investing.

You are right that psychological awareness cannot be created by technical knowledge. Many psychological issues depend on the financial structure. A person may consider himself very disciplined but if he does not invest with discretionary income he will not be able to manage the investment activities for a long time. Because if he invests with the required amount of money it can be useful at any time in the future. At that moment neither his psychological discipline nor technical knowledge will be useful anymore.

And for me the most important thing about psychological awareness is to understand in advance what his reaction will be to his decision in  the Bitcoin market volatility and prepare accordingly so that he does not have to regret any wrong decision later.

Now if the price of Bitcoin starts decreasing or if the price of Bitcoin suddenly starts increasing at that time what will an investor do, what kind of reaction will he take that investor should control it in advance. Just as panic selling or over aggressively investing in Bitcoin is a mistake when the price keeps falling and also if you decide to sell your Bitcoin holdings with greedy mindset for the profit you will make if the price suddenly increases then  you will miss out on the potential for more profits in the long run. Psychological awareness depends on the planning fund management, cashflow and financial situation of investing in Bitcoin.

[Perfectbaby]

They said knowledge is power and if you don't have the right knowledge concerning the crypto space you would definitely get trapped. As we know that even those who knows things about technical knowledge doesn't know when they easily fall victim scam, they could send them some fishing Link where they wouldn't know about it and they could got piped.
Of course, reading vast is one important thing to do so that you won't be able to fall for cheap scams that you can easily avoid. For sure, emotions also has a wider role to play in our life while we are making investment because there are some people that they could offer something so attractive without knowing that is scam.

[L E G E N D A R Y]

It’s crucial to have full knowledge about scam tactics but even if you have little knowledge about scam strategies you can still survive in the crypto space.Sometimes your instincts speak to you about a project that’s not legit but you ignore it until you finally become a victim.That’s why I said even with the little knowledge you have you can still succeed in the crypto space because your instinct would be there to direct you,I’m not saying acquiring the technical knowledge on how to secure your coins is a complete waste of time,but even the basic knowledge you have and your instinct that’s inside of you would serve as a directive.Then lastly most people are victims of scam because they tend to believe every project that seems as a route to become successful in a short period of time.

That may be true, but that may not be the case for everyone you know. Whether we believe it or not, the crypto space is more of the survival of the fittest, if you’re not fit, you could end up being ran over by someone who’s more knowledgeable than you are. Having little knowledge can indeed be helpful but there’s only so much that can do for you, that’s why it’s important to always dedicate one’s self to continuous learning, research and growth because time is ever changing and knowledge can get outdated, so updating your knowledge is what really keeps you safe in the crypto space.

[Humblevirus]

It’s crucial to have full knowledge about scam tactics but even if you have little knowledge about scam strategies you can still survive in the crypto space.Sometimes your instincts speak to you about a project that’s not legit but you ignore it until you finally become a victim.That’s why I said even with the little knowledge you have you can still succeed in the crypto space because your instinct would be there to direct you,I’m not saying acquiring the technical knowledge on how to secure your coins is a complete waste of time,but even the basic knowledge you have and your instinct that’s inside of you would serve as a directive.Then lastly most people are victims of scam because they tend to believe every project that seems as a route to become successful in a short period of time.

What is there is that scammers are very smart and that is why someone can’t have full knowledge of scammers tactics. From time to time, they always come up with new tactics. But what I will always say is that we should always try to update ourselves on any new tactics that are out there in the crypto industry, because that can be a great help to us.Again, gathering more knowledge about tactics that scammers have used before, or are using at that particular time, can make someone think more deeply when they meet a scammer. They may try to use simpler tactics with us, but there are some tactics that someone would hardly think could lead to a scam.

For example, I saw a news story about scammers who went around teaching people how to trade and make money on YouTube.and it provided links for people to click and people clicked on the link and that was how it was able to gain access to their wallets and steal their Ethereum.What can save us most is that we should not trust anyone. Again, we should keep learning about different scamming tactics so that we can better protect ourselves.

[Tongley]

It’s crucial to have full knowledge about scam tactics but even if you have little knowledge about scam strategies you can still survive in the crypto space.Sometimes your instincts speak to you about a project that’s not legit but you ignore it until you finally become a victim.That’s why I said even with the little knowledge you have you can still succeed in the crypto space because your instinct would be there to direct you,I’m not saying acquiring the technical knowledge on how to secure your coins is a complete waste of time,but even the basic knowledge you have and your instinct that’s inside of you would serve as a directive.Then lastly most people are victims of scam because they tend to believe every project that seems as a route to become successful in a short period of time.

That may be true, but that may not be the case for everyone you know. Whether we believe it or not, the crypto space is more of the survival of the fittest, if you’re not fit, you could end up being ran over by someone who’s more knowledgeable than you are. Having little knowledge can indeed be helpful but there’s only so much that can do for you, that’s why it’s important to always dedicate one’s self to continuous learning, research and growth because time is ever changing and knowledge can get outdated, so updating your knowledge is what really keeps you safe in the crypto space.

Yes, every person has to improve himself with time, if a person cannot improve himself with time, then he will definitely lag behind everyone and due to not knowing about the traps of new fraud, he can definitely fall into the trap of fraud.

Starting something with a little knowledge is the best, especially in the case of Bitcoin investment. You can start investing with a little knowledge and after starting investing, you can move forward by gaining knowledge and investing in parallel. Knowledge is very important to hold Bitcoin in the long term. If a person does not focus on gaining knowledge by investing, then he will definitely be forced to sell his holding or Bitcoin with time. Because he will not know about the risks, he will not prepare in advance to face those dangers, as a result, he may have to sell his holding.

[Zigabel]

It’s crucial to have full knowledge about scam tactics but even if you have little knowledge about scam strategies you can still survive in the crypto space.Sometimes your instincts speak to you about a project that’s not legit but you ignore it until you finally become a victim.That’s why I said even with the little knowledge you have you can still succeed in the crypto space because your instinct would be there to direct you,I’m not saying acquiring the technical knowledge on how to secure your coins is a complete waste of time,but even the basic knowledge you have and your instinct that’s inside of you would serve as a directive.Then lastly most people are victims of scam because they tend to believe every project that seems as a route to become successful in a short period of time.

It's not necessary that you have exactly full knowledge,  because in actual reality you can never have full knowledge as the knowledge does evolve and scammers are steadily devising a new means everyday to unleash scam on their victims in more subtle ways that you may not imagine.  Just understand the basics of keeping your assets safe and you will be in a better position to have your assets protected at all times,  even when they try to attack with a different means from the former which they are know for. Another thing that helps keep one away from potential scam is working on your greed levels,  not every opportunity you see in the crypto space is worth your time, some will expose you to losses,  especially if you happen to be a greedy person.

Instincts will sometimes help you,  but discipline will make sure you are in check at almost every point in time, the urge to want more even when it may cost you so much.  Having technical knowledge is okay but isn't compulsory to get you the ability to secure your assets as you would. But then, as much as possible,  make sure to get both technical and basic Knowledge,  it will do you quite a lot of good when the need arises,  but then don't forgets to be disciplined enough to abide by the rules of the technical knowledge you have acquired about the the crypto space,  it will save you from a lot. Also don't jump on every project,  make sure to verify before joining any project as some maybe scam project as there are many of them out there.

[SPIDERMAN008]

They said knowledge is power and if you don't have the right knowledge concerning the crypto space you would definitely get trapped. As we know that even those who knows things about technical knowledge doesn't know when they easily fall victim scam, they could send them some fishing Link where they wouldn't know about it and they could got piped.
Of course, reading vast is one important thing to do so that you won't be able to fall for cheap scams that you can easily avoid. For sure, emotions also has a wider role to play in our life while we are making investment because there are some people that they could offer something so attractive without knowing that is scam.

You are right technical knowledge cannot give a crypto holder the ability to be patient and emotionally controlling. Due to excessive excitement and greed even an experienced user can make mistakes. For example a user knows very well that he should not click on an unknown link. It can often transfer funds through hacking or steal confidential information. But when that person sees an opportunity that will make him rich overnight, he can naturally lose his ability to make judgments. He can do things that he would never do in a calm mindset.

That is why along with knowledge, caution, discipline and the ability to make calm decisions should also be developed. Even if an offer is attractive, it is not logical to react to it in a hurry. Before doing anything the source should be verified, it should be seen whether it is authentic or not. Because nothing in crypto gives guaranteed profit and private information should never be asked for. Therefore we should be careful if sees such an incident happening.