Too much scamming in Bitcoin

[serenitys]

Bitcoin didn't rip anyone off. Someone ripped off bitcoin from other people.

So your statement is bullshit and both are not mutually exclusive.

Guess we shoudn't feed those who wants to start a flame war 

Right indeed. Mybad. Forgot to check the OP.

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[freedomno1]

First MtGox disapears with an BTC fortune and then Neo Bee. Besides them, there are countless mining companies that never refund their clients on empty promises. Sadly, in generall there is to much scamming going on in the BTC to get this mainstream! Noone want to get ripped off. Especially on his/her first encounter with BTC. And sadly, right now, too many people encounter a scam as their first encounter with BTC.

It is a challenge for certain and finding trustworthy companies is part of that
But hopefully it improves with time

[Beliathon]

Welcome to capitalism - this whole shit is a scam, son.

Those with real power - real wealth, they pay very dangerous men to wield guns at you on their behalf. There is no capitalism without violence. There is no capitalism without deception and exploitation.

You should really watch "American Hustle".

[Bit_Happy]

Welcome to capitalism - this whole shit is a scam, son.

Those with real power - real wealth, they pay very dangerous men to wield guns at you on their behalf. There is no capitalism without violence. There is no capitalism without deception and exploitation.

You should really watch "American Hustle".

Real capitalism does not exist in today's world.
So blaming "capitalism" is not accurate.

[freedomno1]

Welcome to capitalism - this whole shit is a scam, son.

Those with real power - real wealth, they pay very dangerous men to wield guns at you on their behalf. There is no capitalism without violence. There is no capitalism without deception and exploitation.

You should really watch "American Hustle".

Real capitalism does not exist in today's world.
So blaming "capitalism" is not accurate.

I guess we should probably call it corporatism and nepotism then if we are going to be technical

[Cryptopher]

Scamming happens all over when people lack suitable knowledge on the topic.

Lots of 'experts' rip people off by charging over the odds for services they do not require, and because the customer is ill-informed they buy into it.

People criticise Bitcoin for various reasons, but they don't actually realise that they are actually describing fiat and gold too.

[FalconFly]

Scamming happens all over when people lack suitable knowledge on the topic.

Lots of 'experts' rip people off by charging over the odds for services they do not require, and because the customer is ill-informed they buy into it.

People criticise Bitcoin for various reasons, but they don't actually realise that they are actually describing fiat and gold too.

Yes, there are scams elsewhere - but nowhere on the planet will you find it as compressed and centralized as in the Cryptocurrencty world.
Even the FIAT world isn't even remotely scammed this concentrated (how often do you need to check your wallet at home, just to see if your cash is still there? Or take it out of the wallet and hide it somewhere on your property using elaborate cryptic hideout maps&pointers to find it again - just to get an acceptable level of safety?)

And with the Gold world, the scamming is literally very low and focussed on a few counterfeit products (many easy to spot, most relatively easy to test - if ever in doubt, you can ask a friendly dealer or goldsmith to perform tests for you with his equipment for a small fee and get definite results). Despite chinese factories increasing their capabilities recently, purchasing gold from any reputable dealer (which runs tests with suitable equipment) rarely has resulted in being scammed in the big scheme of things. Not even the most advanced counterfeiters can defy the laws of physics - and any additional efforts decreases their profits. In my ~5 years, I never ran into any problems following only very basic guidelines even a child could understand.

Like it or not, Bitcoin operates in its own world called Scam-U-Topia - a paradise for little and big scammers.
I mean when was the last time you heard i.e. even Wall St. openly announcing their latest Ponzi scheme (guaranteed 140% payout!)? - only in the Bitcoin world you get that on a daily basis.
People are so used to scams and see them literally every hour at every corner, some even made an open business model of it *lol*

[Dogtanian]

Scamming happens all over when people lack suitable knowledge on the topic.

Lots of 'experts' rip people off by charging over the odds for services they do not require, and because the customer is ill-informed they buy into it.

People criticise Bitcoin for various reasons, but they don't actually realise that they are actually describing fiat and gold too.

Scamming happens because greed is human nature. Where there's money to be made there wil be scammers.

[igorr]

Where's the money, there is also fraud.

[bountygiver]

Where's the money, there is also fraud.

Don't have to be money.
There could be fraud at any form of trade.

[Nobitcoin]

My two pence... The world is a cruel place... Same applies to the net. So if your nieve as a few times I have been then your precious Bitcoins will belong to someone else being either a ponzi or a dice site 

[bryant.coleman]

My two pence... The world is a cruel place... Same applies to the net. So if your nieve as a few times I have been then your precious Bitcoins will belong to someone else being either a ponzi or a dice site 

Keep gambling sites out of this. Wasting money in gambling cannot be considered as scamming. And I know a lot of people who have won huge jackpots in Dice sites as well.

[endoflove]

gambling and scamming can be the same if the odds are tweaked.

[grifferz]

You mean if I get robbed, I can recover my lost money?

There is at least more likely to be consequences for the perpetrator if the authorities ever catch them. Whereas currently with Bitcoin police are not interested in investigating any fraud.

It's easy to understand why scams and fraud are rampant in the Bitcoin community:

• Irreversible pseudonymous transfers
• Highly technical method of security
• Lack of interest from conventional law enforcement
• Crossing nation state boundaries is the norm, not the exception
• Financial infrastructure being operated by people with no training and experience in operating traditional financial infrastructure ("I can operate a blog in PHP about my cat! Time to set up a crypto exchange and transact 6 figures a month!")
• Crypocurrency financial infrastructure being operated without any of the regulation and safeguards that fiat financial infrastructure is forced to abide by
• Financial dealing being undertaken by people who would normally never engage in financial dealing (lack of subject knowledge required to spot/avoid scammy proposals)
• Recent history of incredible price rises instilling massive levels of greed into some participants

Whilst acknowledging these problems, I do not think they are crippling problems. I think their solution and the need for them to be solved will go hand in hand with mainstream adoption. The technology offers the possibilities and these are still early days.

All those crying about this have either been scammed because they are out of their depth, or are calling for an alt-coin where "freezing" of scammed funds is possible in the protocol, without actually doing any of the work to make that a reality.

[Bit_Happy]

Welcome to capitalism - this whole shit is a scam, son.

Those with real power - real wealth, they pay very dangerous men to wield guns at you on their behalf. There is no capitalism without violence. There is no capitalism without deception and exploitation.

You should really watch "American Hustle".

Real capitalism does not exist in today's world.
So blaming "capitalism" is not accurate.

I guess we should probably call it corporatism and nepotism then if we are going to be technical

Corporatism is accurate enough; Most people don't know what "capitalism" is since the current school system (and media) often blames the "free-market" when in reality individual freedom wasn't anywhere to be seen.

[bryant.coleman]

gambling and scamming can be the same if the odds are tweaked.

Not many gambling sites can survive of they manipulate the odds. People will find out within hours and the news will be spread like wild fire. Just search here in Bitcointalk about such incidents.

[jonald_fyookball]

Welcome to capitalism - this whole shit is a scam, son.

Those with real power - real wealth, they pay very dangerous men to wield guns at you on their behalf. There is no capitalism without violence. There is no capitalism without deception and exploitation.

You should really watch "American Hustle".

Real capitalism does not exist in today's world.
So blaming "capitalism" is not accurate.

I guess we should probably call it corporatism and nepotism then if we are going to be technical

Corporatism is accurate enough; Most people don't know what "capitalism" is since the current school system (and media) often blames the "free-market" when in reality individual freedom wasn't anywhere to be seen.

Agree.  True capitalism = laissez faire ("let do"), which is consistent with upholding individual rights (the only valid laws are those prohibiting fraud and initiary force). 

[likesbtc]

problem with btc is always btc is not regulated.

[SnakePlisken]

Bitcoin itself is rock solid, but anytime you deal with a third party you are introducing counterparty risk. Eventually everyone will just move to decentralized solutions anyway.

[FalconFly]

gambling and scamming can be the same if the odds are tweaked.

Not many gambling sites can survive of they manipulate the odds. People will find out within hours and the news will be spread like wild fire. Just search here in Bitcointalk about such incidents.

Although they are all bigger or smaller scams, they all survive because their customers are either mentally incapable of spotting the scam, gullible, naive - or suffer from gambling addiction.
They all manipulate, that's their very nature and sole source of revenue.