Topic: 4 Bitcoin cons to watch out for... (Read 2149 times)
I never get myself involved in stuff like that I know it's most likely a scam. People who didn't know need to be vigilante olabout these kind of scams and most times it's covered up with something else.
http://cointelegraph.com/news/beware-4-typical-bitcoin-scams-in-mining-investment-wallets-exchange
Has anyone had this happen to them?
that's good to share this article,but it think its too late,so many already scammed by mining and other investemetn site,and i also one of so many victims. lets prevent bitcoin from scammer,and its will help us to grow bitcoin to better future.Has anyone had this happen to them?
You're welcome... this is mostly for those new to Bitcoin to learn from our "mistakes"
http://cointelegraph.com/news/beware-4-typical-bitcoin-scams-in-mining-investment-wallets-exchange
Has anyone had this happen to them?
that's good to share this article,but it think its too late,so many already scammed by mining and other investemetn site,and i also one of so many victims. lets prevent bitcoin from scammer,and its will help us to grow bitcoin to better future. Has anyone had this happen to them?
-snip-
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
You should check out ethereumpyramid.com, it is a transparent ponzi scheme (smart contract) build on the ethereum blockchain. You can send a payment in with either ETH or BTC. I sent a few ETH to it a long time ago and got my payout. I think it is pretty neat that you can have a smart contract ponzi scheme now a days. It's a heck of a lot better than the scams that promise to "double your bitcoin, just send your bitcoin to 1scamxxxxx and you'll receive double back!" I'm amazed at how many people fall for such obvious scams.
Okay, I'm not gonna lie! I've been scammed a few times in the beginning. My problem was that I really believed that bitcoin was this "miracle currency" where all these ideas were possible. I wanted to believe this stuff because the technology was just so dang innovative in my mind. It takes awhile being involved in the community to be able to recognize what is real and what is not. It's still quite weird, in my mind, that a bunch of imaginary ones and zeros can be traded for real money! So, these scams aren't that obvious to some until they've been scammed a few times.
Looks like I'm not the only one here with that kind of experience 
Time heals, need to gain some experience I guess. 
I once tried a scam "investment" site for fun, knowing that they are not going to last long and operate like a Ponzi scheme. Daily interest was about 3.6%. I figured out, using the "rule of 72", that if the site survived for more than 20 days I will have my ROI.
I was luck to join early and the site did survived for more than 20 days, and I withdrew everything. So I doubled the little investment of 0.01BTC to about 0.02+BTC. About a month later, the site closed down and many investors lost their BTC.
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
I was luck to join early and the site did survived for more than 20 days, and I withdrew everything. So I doubled the little investment of 0.01BTC to about 0.02+BTC. About a month later, the site closed down and many investors lost their BTC.
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
The truth is, every ponzi/hyip programs work like that way. They initially pay to the investors, just to build reputation. but when the big investments start flowing in, they stopped paying. Ponzi is the worst form of gambling available in the market.
However, you should try p2p lending platform like btcjam. I am using this website to fund loan for others and getting a stable monthly returns. Here the risk of loosing money is very less. Every other programs I have tested turned out to be a scam.
Yes , not only they initially pay to the investors, just to build reputation, but when the big investments start flowing in, they stopped paying also they give you return for small investments and eat up the investment of people who invest in bigger amounts.
Okay, I'm not gonna lie! I've been scammed a few times in the beginning. My problem was that I really believed that bitcoin was this "miracle currency" where all these ideas were possible. I wanted to believe this stuff because the technology was just so dang innovative in my mind. It takes awhile being involved in the community to be able to recognize what is real and what is not. It's still quite weird, in my mind, that a bunch of imaginary ones and zeros can be traded for real money! So, these scams aren't that obvious to some until they've been scammed a few times.
I once tried a scam "investment" site for fun, knowing that they are not going to last long and operate like a Ponzi scheme. Daily interest was about 3.6%. I figured out, using the "rule of 72", that if the site survived for more than 20 days I will have my ROI.
I was luck to join early and the site did survived for more than 20 days, and I withdrew everything. So I doubled the little investment of 0.01BTC to about 0.02+BTC. About a month later, the site closed down and many investors lost their BTC.
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
I was luck to join early and the site did survived for more than 20 days, and I withdrew everything. So I doubled the little investment of 0.01BTC to about 0.02+BTC. About a month later, the site closed down and many investors lost their BTC.
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
The truth is, every ponzi/hyip programs work like that way. They initially pay to the investors, just to build reputation. but when the big investments start flowing in, they stopped paying. Ponzi is the worst form of gambling available in the market.
However, you should try p2p lending platform like btcjam. I am using this website to fund loan for others and getting a stable monthly returns. Here the risk of loosing money is very less. Every other programs I have tested turned out to be a scam.
Thanks for the pointer on p2p lending and btcjam, avikz. What kind of return is reasonable to expect? Have a good weekend.
I once tried a scam "investment" site for fun, knowing that they are not going to last long and operate like a Ponzi scheme. Daily interest was about 3.6%. I figured out, using the "rule of 72", that if the site survived for more than 20 days I will have my ROI.
I was luck to join early and the site did survived for more than 20 days, and I withdrew everything. So I doubled the little investment of 0.01BTC to about 0.02+BTC. About a month later, the site closed down and many investors lost their BTC.
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
I was luck to join early and the site did survived for more than 20 days, and I withdrew everything. So I doubled the little investment of 0.01BTC to about 0.02+BTC. About a month later, the site closed down and many investors lost their BTC.
In short, almost all BTC investment at the moment are scams- please correct me by letting me know if there is any valid investment site....
The truth is, every ponzi/hyip programs work like that way. They initially pay to the investors, just to build reputation. but when the big investments start flowing in, they stopped paying. Ponzi is the worst form of gambling available in the market.
However, you should try p2p lending platform like btcjam. I am using this website to fund loan for others and getting a stable monthly returns. Here the risk of loosing money is very less. Every other programs I have tested turned out to be a scam.
Thankfully I have not yet fallen for any of these scams. Most of these can be avoided except for the exchange scams, you never know which might claim one day that they were hacked.
Aren't some insured?
Never heard of insurance. however, we should take per cations for scams site related to bitcoins
Thankfully I have not yet fallen for any of these scams. Most of these can be avoided except for the exchange scams, you never know which might claim one day that they were hacked.
Aren't some insured?
Thankfully I have not yet fallen for any of these scams. Most of these can be avoided except for the exchange scams, you never know which might claim one day that they were hacked.
If it sounds too good to be true, i.e. 3% interest per day, it is ALWAYS a scam.
Many investors would give their left nut to get a reliable 3% PER YEAR let alone 3% daily.
No one will be ready to give you free money. If you get attracted to some ponzi schemes then definitely you will end up in scammed all of your investments. It is completely our own responsibility to avoid this type of investments.Many investors would give their left nut to get a reliable 3% PER YEAR let alone 3% daily.
Yeah greed is usually the accelerant but the naive and desperate are usually the fuel for such schemes which is really not ok.
If it sounds too good to be true, i.e. 3% interest per day, it is ALWAYS a scam.
Many investors would give their left nut to get a reliable 3% PER YEAR let alone 3% daily.
No one will be ready to give you free money. If you get attracted to some ponzi schemes then definitely you will end up in scammed all of your investments. It is completely our own responsibility to avoid this type of investments. Many investors would give their left nut to get a reliable 3% PER YEAR let alone 3% daily.
If it sounds too good to be true, i.e. 3% interest per day, it is ALWAYS a scam.
Many investors would give their left nut to get a reliable 3% PER YEAR let alone 3% daily.
Many investors would give their left nut to get a reliable 3% PER YEAR let alone 3% daily.
3% interest per day!!! Is this a real claim? Does anyone realize the yearly interest would equal a 4,848,272% return or a nearly 50,000x return!!!
Starting with just 1 Bitcoin ($415.82) you would wind up with 48,482.72 Bitcoins (or $20,160,086.51) in just 1 year.
http://cointelegraph.com/news/beware-4-typical-bitcoin-scams-in-mining-investment-wallets-exchange
Has anyone had this happen to them?
nice to share this,we sould more carefull to choose wallet,exchange and bitcoin investement,but one that make me surprise is there writed that wallet also have potential to be scam,this is make me scary,but i dont think i will lost my trust to coinbase or blockchain.Has anyone had this happen to them?
That's the one that concerned me the most too, since theoretically it should have minimal risk (wallet customers aren't usually expecting anything unrealistic, unlike "investors"). The "scare factor" is a real bummer for any Bitcoin startup trying to get a legit wallet going.
http://cointelegraph.com/news/beware-4-typical-bitcoin-scams-in-mining-investment-wallets-exchange
Has anyone had this happen to them?
nice to share this,we sould more carefull to choose wallet,exchange and bitcoin investement,but one that make me surprise is there writed that wallet also have potential to be scam,this is make me scary,but i dont think i will lost my trust to coinbase or blockchain. Has anyone had this happen to them?
People seem to lose common sense when it comes to computers. If someone on the street would tell you to give him $100 and he'll give you $200 tomorrow, of course you don't believe him. Why do people want to believe it so badly when it's online?
Here is what that article is saying
1. Bitcoin investment program
2. Bitcoin mining scams
3. Bitcoin wallet scams
4. Bitcoin exchage scams
#1 & #2 is for ponzis and yes it obvious we should never fall into tha trap. #4 we should always remember that those paypal, skrill, payza are reversible and #3 always go with the one with good reviews, never try a new one and act like a crash test dummy.
I've seen all these scams appear on these forums over the past years. Just think twice and you will be fine 1. Bitcoin investment program
2. Bitcoin mining scams
3. Bitcoin wallet scams
4. Bitcoin exchage scams
#1 & #2 is for ponzis and yes it obvious we should never fall into tha trap. #4 we should always remember that those paypal, skrill, payza are reversible and #3 always go with the one with good reviews, never try a new one and act like a crash test dummy.
We need to get out of the mindset that Bitcoin is a source of revenue, and think of it as a payment system. Use it to buy goods or services, and if you do decide to invest, then do it in a viable service, not some vapourware site.
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