Bitcoin is not new, So why are scams still working?

[TeeTeen]

I think the reason why scams work is because investors are not careful, because if investors are not careful, scams will increase gradually. And to reduce them, we must be careful. People may make mistakes while being more careful while keeping their wallets in custody. In fact, no one can take better care of their wealth than themselves. However, sometimes it happens because of their own mistakes.

[Rikafip]

Bitcoin isn't new, but there are still new people entering crypto every day. Scammers take advantage of beginners who may not yet recognize common red flags or understand how crypto works. As long as new users keep joining the space (and they will), scammers will continue to find their victims.

I mean, fiat money also isn't new, so people still keep getting scammed every day in all possible ways.

[YOSHIE]

So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

Indeed, Bitcoin is not something that can be said that it has only been 17 years since Bitcoin has come a long way. Bitcoin was previously known among the upper classes, now Bitcoin is known to almost all elements of society, lower, middle and upper.

We can understand that the more sophisticated electric cars are being created, but thieves and hackers can still do it, the same goes for Bitcoin, even though Bitcoin is not new, fraudsters do not remain silent, they continue to modify methods to be able to commit fraud.
Such situations in general, we know fraudsters will exploit the panic, greed and lack of technical understanding of Bitcoin users, For this reason, even though Bitcoin is not new, fraudsters can still do it, so we have to be careful in everything, to avoid fraud, including the exchanges we use.

[Razmirraz]

I think the reason why scams work is because investors are not careful, because if investors are not careful, scams will increase gradually. And to reduce them, we must be careful. People may make mistakes while being more careful while keeping their wallets in custody. In fact, no one can take better care of their wealth than themselves. However, sometimes it happens because of their own mistakes.

As long as there are newcomers, there will always be "traps" set by fraudsters. Bitcoin has been around for ±17 years, and there are always newcomers interested in becoming a part of it. Fraudsters will always patiently wait for their arrival, their only job is "wait for them to fall into the trap". This cycle cannot be eradicated because the Internet has no orientation period. Beginners often fall into FOMO traps, they see videos on YouTube about "Bitcoin 100X signals", then see "Free Airdrops" on other social media and receive DMs from unknown people claiming to be admins of platforms like Binance, at times like these, no one reminds them to "be careful", so they fall into the trap.

Fraudsters simply set traps, the more FOMO comes in, the more people get caught in their net. So the solution is, don't believe in promises of unreasonable profits, be skeptical of any offers that are too tempting, understanding the risks is the best defense.

[HMb1996]

Well, scammers still succeed by targeting gullible people who are also overwhelmed
In their greed, fear, and urgency to make it big. Even people who are expert in the crypto
space also become victims of circumstances some times, especially when such opportunities
Looks so good to miss out
The users who fall for this traps should be well informed and sensitized on the various
Ways to identifying scammers, fake ads and account. A user must be sensitive of
What he sees, be skeptical and verifies before initiating a transaction

[Ever-young]

As long as there are newcomers, there will always be "traps" set by fraudsters. Bitcoin has been around for ±17 years, and there are always newcomers interested in becoming a part of it. Fraudsters will always patiently wait for their arrival, their only job is "wait for them to fall into the trap". This cycle cannot be eradicated because the Internet has no orientation period. Beginners often fall into FOMO traps, they see videos on YouTube about "Bitcoin 100X signals", then see "Free Airdrops" on other social media and receive DMs from unknown people claiming to be admins of platforms like Binance, at times like these, no one reminds them to "be careful", so they fall into the trap.

Fraudsters simply set traps, the more FOMO comes in, the more people get caught in their net. So the solution is, don't believe in promises of unreasonable profits, be skeptical of any offers that are too tempting, understanding the risks is the best defense.

That's right, scammers target the new ones and instead of the newcomers to do more of research, they do look for shortcuts that they can have instant gain and with this mindset, they easily fall into traps that will make them to have losses and even when they have been scammed, they won't still learn their lesson as they will continue to do things their own ways, thinking that will be the solution for them to bypass the process and get what they want. But, if they are able to calm down and get to understand how the system works, they won't easily be caught in the traps of fraudsters.

[YellowSwap]

Bitcoin is no longer new, and crypto scams have been around for years already. People should already know the basic red flags by now, like guaranteed profit, fake investment platforms, and strangers offering easy money.

But why are we still seeing reports of millions, even billions, lost to crypto scams?

Now with AI, scammers can create more convincing messages, fake profiles, fake voices, and even fake videos. So maybe scams are becoming harder to detect, or maybe people are still too careless when money and profit are involved.

So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

There are two valid reasons why this your claim isn't a good point.

1. We will always have new people in crypto space, in 2022 many people don't even look at crypto twice, they made up their minds that they are all complete scams without any research from their ends but after America supports came many start to give crypto a chance, this will never end.

2. Human errors are still a thing and will keep been a thing, people will do mistakes that will cost them heavily, some don't even believe that they can get scammed via clicking bad or malicious links or mistakenly revealing their recovery seeds, it's all on humans now to either safeguard their Bitcoin or do something stupid and lost everything.

Those who don't know before will likely become the new victim and don't also forget that new born are coming into the world too, to get along with crypto you need to learn and while doing the learning anything can still go wrong too.

[Son Of Blockchain (SOB)]

 Bitcoin doesn't have to be new for people to be scammed through it, remember that not everyone is an og to modern tech, some just recently began to understand it and are easy targets for scammers using old methods, most scammers update their techniques so they can as well trap the smart ones too.
 Also, if people can't stop being greedy then it would be tough to completely eradicate scam cause they also take advantage of the greedy ones too, those are also their primary target.

[JigzawMarzipan]

Because scams don’t only work on beginners. They work on emotions. People still fall for greed, fear, urgency, and fake promises of easy profit. Even if Bitcoin is not new, many people still don’t understand wallets, private keys, exchanges, or how to verify things properly. Scammers also keep changing their style. Same trick, new packaging. So the problem is not Bitcoin being new or old. The problem is people trusting too fast when money is involved.  

[Joy- maker]

Bitcoin is no longer new, and crypto scams have been around for years already. People should already know the basic red flags by now, like guaranteed profit, fake investment platforms, and strangers offering easy money.

But why are we still seeing reports of millions, even billions, lost to crypto scams?

Now with AI, scammers can create more convincing messages, fake profiles, fake voices, and even fake videos. So maybe scams are becoming harder to detect, or maybe people are still too careless when money and profit are involved.

So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

Despite bitcoin having been around for decades and crypto scams has also existed for decades people still get scammed for several reasons including, fear of missing out (FOMO) poor security practice, emotional manipulation, the crypto industry evolves rapidly, trust in influencers and fake endorsement and so on.

Therefore, we will continue see reports of people getting scammed because human can be greedy when money is involved. Last month my brother was scammed through a Pozzi scheme, not because he was unaware that it was a Pozzi scheme, it was because of fear of missing out (FOMO), since his friend were telling him that they were making from it, he invested $250 worth of country's currency, and the site crashed the next day.

[o48o]

Bitcoin is no longer new, and crypto scams have been around for years already. People should already know the basic red flags by now, like guaranteed profit, fake investment platforms, and strangers offering easy money.

But why are we still seeing reports of millions, even billions, lost to crypto scams?

Now with AI, scammers can create more convincing messages, fake profiles, fake voices, and even fake videos. So maybe scams are becoming harder to detect, or maybe people are still too careless when money and profit are involved.

So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

Why would people learn? And why wouldn't the amount of scams just grow?

Same scams with different variations are rotating trough every cycle. And because people think they can't afford to buy bitcoin, they are easily tempted when someone offers shortcuts.

And it's not like those people who have been scammed over and over again would be only victims. Every day fresh blood comes in and i would argue that they are even more vulnerable against scams.

People have changed how get their news and facts and their need and ability to determine what's true and what's not has diminished a lot. Combine that with click bait newsfeeds, trust to AI and generic greed and you have perfect recipe to produce more scam victims.

[ingiltere]

Scams have been perpetrated using local currencies for hundreds of years if not thousands. This has nothing to do with Bitcoin. It has to do with people.
Even highly educated people can fall victim to scams from time to time. This is a result of carelessness or ignorance. Whether Bitcoin is old or new doesn't change that. Scams will happen and will continue to happen. You can't reduce them to zero. There's nothing the government can do about it.

[retreat]

So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

The responsibility lies with us. If we were smarter enough to recognize the potential for scams and weren't easily trapped by quick profits, we wouldn't fall victim to scammers. From what I've seen, most scam victims are easily lured in by the promise of quick profits online. They don't even suspect anything and don't do any research to determine what they're getting involved in. What happens is that these people are easily scammed because they're not vigilant from the start and only think they can make a quick profit, not realizing they could lose all their money.

[rat03gopoh]

If Bitcoin is relatively new, then Bitcoin itself is a "scam".

So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

Lack of literacy and morals; even platforms like Google can list fraudulent ads. But this is all part of the fintech era; otherwise, Bitcoin wouldn't be designed this way, and authorities would lose their role as protectors of society.

[Popkon6]

Bitcoin is no longer new, and crypto scams have been around for years already. People should already know the basic red flags by now, like guaranteed profit, fake investment platforms, and strangers offering easy money.
But why are we still seeing reports of millions, even billions, lost to crypto scams?
Now with AI, scammers can create more convincing messages, fake profiles, fake voices, and even fake videos. So maybe scams are becoming harder to detect, or maybe people are still too careless when money and profit are involved.
So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

At present, this type of fraud is not limited to Bitcoin, it is spread in different places and different people are falling victim to this fraud. As a result, in the current situation, the most fraud is happening online, but people are trusting the people they are associating with. Because people are also willing to invest thousands of dollars on trust online because they believe what they read online.
In the current situation, Bitcoin investment is the only trustworthy one because investing here is the most important because the chances of being a victim of fraud are very low.

[JoyMarsha]

The reason why these scams keep repeating and people are falling to it despite all is because of the way new people keep coming into the space now and then, and the majority are being told crypto to be a get rich scheme. They invested with such a mindset, believing that the market would favor them as they invested in altcoins for short term profits, not knowing that it's riskier to invest in altcoins without proper findings

[X-ray]

Bitcoin is no longer new, and crypto scams have been around for years already. People should already know the basic red flags by now, like guaranteed profit, fake investment platforms, and strangers offering easy money.

But why are we still seeing reports of millions, even billions, lost to crypto scams?

Now with AI, scammers can create more convincing messages, fake profiles, fake voices, and even fake videos. So maybe scams are becoming harder to detect, or maybe people are still too careless when money and profit are involved.

So who is really lacking here? The users who still fall for these scams, the platforms that allow fake ads and fake apps, or the government for not doing enough?

Many crypto theft due to social engineering caused by data leak and the scammers impersonating custom service telling you your own data to make you believe them.

These kind of scams happen everywhere and not only in Bitcoin spaces.

Greed could be a factor too that determine whether you're gonna get scammed eventually or not.

Scammers look for victims who get blinded by their own greed defying their own logic because they thought the profit is worth the risk, meanwhile the profit is just illusion such as fake crypto investment with guaranteed 20% weekly return.

[tabas]

I think the reason why scams work is because investors are not careful, because if investors are not careful, scams will increase gradually. And to reduce them, we must be careful. People may make mistakes while being more careful while keeping their wallets in custody. In fact, no one can take better care of their wealth than themselves. However, sometimes it happens because of their own mistakes.

They won't be careful in the first place and that's because they have no prior knowledge to how the scams that are about to victimize them. But if they have little or basic knowledge about these scams, they're going to avoid them. So, that's one when they are not careful because they don't know how it works. And it is us who can take care better of our wallets and assets because we can hold the keys as we hold the wallets. Meanwhile, there goes those holders that still keep their funds in exchanges despite knowing how risky it is.

[MRY]

I think the reason why scams work is because investors are not careful, because if investors are not careful, scams will increase gradually. And to reduce them, we must be careful. People may make mistakes while being more careful while keeping their wallets in custody. In fact, no one can take better care of their wealth than themselves. However, sometimes it happens because of their own mistakes.

They won't be careful in the first place and that's because they have no prior knowledge to how the scams that are about to victimize them. But if they have little or basic knowledge about these scams, they're going to avoid them. So, that's one when they are not careful because they don't know how it works. And it is us who can take care better of our wallets and assets because we can hold the keys as we hold the wallets. Meanwhile, there goes those holders that still keep their funds in exchanges despite knowing how risky it is.

Cyber manipulation commonly leads to loss of money through technical naivety about the use of cryptographic data protection mechanism. Inability to acquire knowledge on how to handle confidential codes puts the bargaining powers of service users with corporations at a big disadvantage. Kept assets in externally controlled systems means that in the event of a wholesale regulatory failure worldwide, we are likely to lose the keys to an asset.

[The Cryptovator]

Bitcoin isn't new, but many new people are entering Bitcoin every day. They aren't aware of this crypto industry or even aware of how they could be deceived. It's not about crypto only; if you enter any new industry, then you won't know how people are cheating there. In the crypto industry, it's the same; Bitcoin is old, but scammers often find new ways to scam people.

So gaining crypto knowledge is quite important for new people. Crypto just doesn't mean buy and sell. There are a lot of things there to learn, and everyone should have basic knowledge about it. Then they would realize how scammers are scamming us; the most important thing is to not become greedy. Most greedy people fall for scams.