Topic: A more scientific mindset is necessary to avoid scams. - page 2. (Read 540 times)

It's arguably true about a scientific mindset being able to anticipate, detect and avoid scams quicker because of the age in which we exist. Technology is the hot take or career path for most graduates, and anyone who gets to be able to fully operate a computer, can read and write fluently, and stays atunned to the news channels these days will be smart enough to learn of news of hacks and scams and the best way to avoid them.

The logic of "scientific mindset" is basically what science does, which is a proof. I mean when people talk about Isaac Newton "he had an apple drop to his head so he figured out gravity" that's not how law of gravity became a reality, he wrote a whole paper about it, that's how it became a reality, if it was just him and an apple then nobody would ever hear about it, it is not like some rumor that went from mouth to mouth, there was an actual paper that proved it.

So, if someone tells you that they can make you money, ask to see proof, and see if the proof could be repeated, the mindset of "just trust me" is not enough at all and would not be a good idea to follow up, so you should try to avoid those people at all costs.

They know they need to do that because that is the only way for them to scam more people. Maybe they look legit but they are not yet on the level of a successful project. Even if we think like that, it's important to not be confident but let's still make an effort to double-check things. One or two mistakes must be enough already to teach us a lesson. For those who are lazy or can't seem to learn, they can just stick on the successful projects. They only need to practice on how to be patient and on how to control their emotions, just in case they like to monitor their investments, if ever they didn't learned these things yet.

I think we don't need to be a rocket scientist though to fall for crypto scams. If the offer is too good to be true, then that is already a red flag. Been here in the last 6 years or so, scam once, and so I've learn from my past mistakes. But if you keep on getting victimized because you think that crypto is easy money, and get rich quick scheme, then you are very wrong.

So do not overthink here, as a normal individual, for sure you will have that brain of yours to see and small from afar what crypto scams looks like. And so even how good their offer what or what percentage that they are telling that you are going to get, just ran and never look back and not to think of even investing a single satoshi.

When we talk about scam projects, we can't help thinking that it's too good to be true. Why do we say this? because when someone offers $100, they will make it $200 after 1 week. When the ROI they say is like that, please stop believing in such systems.

Don't allow yourself to be wild, greedy for money, or have the mentality of a quick-rich scheme. This has been happening for several years, and I hope that no one gets scammed or cheated just because of such scams, so that they don't fall victim again.

Please look at my post again. I linked both studies that I cited (But if you had Googled them they would be very easy to find).

Look, the point is not to argue about being precise about what kind of degree makes you likely to get scammed, if Stanford did the research you must assume they have high standards for maximizing objectivity.


Dude this is why you need to read before commenting. The definition being cited exactly means those who got a degree.

The point, which seems to be lost for most people commenting, is that educated people think because of their education (which requires them to study with scientific mindset right?), they won't get scammed but this exact thinking gets them scammed. You did a degree? Doesn't matter arts, which I did. You know to do dissertation, you must use quantitative or qualitative methods. Arts and humanities use a lot of qualitative research. It's STILL a scientific method!

It's funny, all the nonsense arguments about definition etc and everybody missed the point that people in crypto get scammed and mainly because they think they're too clever to be scammed.

Quite interesting, I didn't read the articles that you shared, you just gave names and not any links and I didn't want  to go search for them so I assume that you are right. But scientific and "smart" doesn't really sound like they are the same things.

One of the examples you gave says "young educated", what is the education? Are we talking about engineers from MIT or are we talking about "English literature from Ohio state" because those are different stuff, and just because one is considered "educated" just because they went through the education system, doesn't mean they know scientific method, as in checking the proof, most didn't even studied anything related to science, what if they studied arts? And the other is just least expected, so not even talking about education there.

By educating oneself about the different methods of scammers these days, and opening our eyes to the reality of legit investments that everything is gained through hard work and patience, then predicting scams would be easier for us especially if we already see the red flags in a certain investment. If we are seeing everything is too good to be true, then most probably scam is waving. We need to take our hands off immediately when that time happens.

Furthermore, there's no need for a scientific mindset to let us know that in front of us is a scam. The fact that it offers rich quick profits more than any other legit and reliable investments, then we can say loud and clear that it's a big scam and so we need to avoid it immediately.

Scamming is not part of this natural world, hence science should not be applied. It's only when innovation takes its place, scamming has become so rampant. But I don't see a need for scientific mindset to predict scams and avoid it in the process.

We all know that scamming is everywhere right now. That is the reason why instead of quick decision making and judgement, extensive research is what need to do. By trying to know the background of every platform or investment, and learning from the experiences of other people, then we can minimize the scenario of falling ourselves into the scammer's trap.

That's one hell of a long explanation comparing and combining science and cryptocurrencies.
It is not how I got into cryptocurrencies or more precisely Bitcoin.
Here I can manage my own investment, it doesn't need science to do that. Let's just say I got so tired of how hard it is to invest with other types of investments, finding a broker, and then letting them manage it all while it's your money that is on the line, and the worst thing is, you are paying them expensive prices just to handle all those things.
Here, I don't really need them. A financial advisor might be enough to give me some pointers on how I could manage my money and then everything will be up to me if I want to trade it or just keep it as an asset and let it grow in value in the long run.
Regarding scams, well I think this forum had a big share in repeating all the necessary guidelines to avoid them. There are so many threads created about it, some of them are real stories of members who got scammed big time by making a wrong decision.
Sometimes you cannot avoid them, there are promising projects that sweet talk their way to urge many investors and they cannot be stopped.

Yes, it will not be possible to eliminate fraud from this world and in my opinion almost everyone has committed fraud for various reasons that they have created, whether for good or just to benefit the fraudster. I really agree with you that we can only avoid fraud committed by other people and it is very important for us to have a little knowledge about anything to be able to avoid fraud and also we have to get along with anyone regardless of their status so that we have a lot of experience in the field. life so that if someone wants to deceive us, we can easily find out and we can avoid the fraud.

It's funny that you mention first about scientific mindset, then me showing evidence (scientific) that that very thinking and training actually doesn't make you less vulnerable (in fact quite the opposite) gets you saying you distrust peer-reviewed work.

You're right though I agree, we should be skeptical towards everything but I think sometimes educated and crypto people think too highly of themselves, and can't even consider the possibility that they could be scam victims. Further blinded by greed they fall into traps.

I think if you use crypto without that underlying desire to make money, that, rather than the scientific mindset, is what avoids scams as all scams target greed.

-Well, it takes a little bit of computer science knowledge to read the Bitcoin whitepaper, so if you have gone that far, then you probably have a good amount of knowledge to see what may or may not be a scam. But I mentioned a scientific mindset instead of scientific knowledge or scientific experience since one will need this mindset to test the claims being made.

-That is fair enough. Although there may be some confounding variable that explains why the educated are more likely to be scammed. On the other hand, academic institutions have taught me to distrust them very much because they are so unprofessional, so I would not be too surprised if the chlurmcks who have graduated from these institutions are too inept to avoid scams. Maybe this means that educated people should humble themselves and acknowledge that they are not immune to scams and they also need to apply a scientific mindset to determining what to invest in. Are the people with science degrees more or less likely to be scammed than those with liberal arts degrees? What about those with business and marketing degrees?



-Yes. People need to do their own research and be exceptionally skeptical of others and all claims that others make especially in the cryptocurrency ecosystem. Unfortunately, the cryptocurrency ecosystem has attracted too many bad actors.


-A scientific/security mindset of verifying and distrusting others is needed for anyone who wants to invest in cryptocurrency technologies. For example, I have been skeptical about my own cryptographic algorithms even after implementation that I have developed quite a few novel machine learning algorithms based on the spectral radius in order to evaluate the cryptographic security of these algorithms (but I am not done with this yet since I need more hardware). But it may be difficult to truly tell whether a project is worthwhile or not because most people have low levels of intelligence.

-Joseph Van Name Ph.D.

I think it is only possible to minimize it, not to eliminate it because it will never disappear in this world, all fraud in various ways will continue to be carried out by bad people, but we have to be observant and think realistically to avoid this.
And in my opinion, one way to avoid this fraud is to have knowledge so that we can think realistically and scientifically, apart from that I think there is none, that's why extensive knowledge is very important.

 No need for science to come in. If you really understand the type of investment you are doing, then you wouldn't be susceptible into committing scams. Even regular people with less scientific knowledge will eventually know that the certain thing would likely to turn into scam or not just by assessing the trend that it follows, I mean by looking if its too good to be true to happen or not. And by being too greedy to expect for quick profits from your investment, most likely you will be easily lured from the traps of the scammers.

Scamming is not new anymore, and as long as there are people who let themselves being fool and lured, scammers will continue to exist. But if people will try to be more cautious in every investment that they try to take risk, then most probably the rate of scamming will be minimized.

Everything you said can be summed up in one sentence: "Do your own research." If you don't, the chances of becoming a victim of a fraudster are extremely high. Why do we think about con artists? Are they ignorant or intelligent people? Of course, those people are intelligent; it's only that their intelligence was misapplied due to their wealth.

You will not be easily duped if you become an observant person and are sensitive to your surroundings, especially the stranger who will speak to you. People are vulnerable to scammers and exploiters since they don't know anything.

You need to be smart. That's literally the simplest and shortest summary of all of this and there isn't really need for anything else. If you are a smart person then you would see a scam a mile away, it's been ten years since I am in this market and never been scammed once ,that has to be mean something, am I a genius?

Of course not, I am just an ordinary person with some curious mind and that means instead of wanting to believe something just because I want to believe it, I rather not believe anything until proven otherwise. That's the scientific mind, because in science you do not accept a thing just to accept it, you have to prove it and have some sort of paper on it, and after that then you can accept it and work better as well.

Scams are too obvious, just do not believe anyone until proven otherwise and you are going to be doing fine, everyone is a scammer and everyone wants to scam you, that's the start point, then you can move further to reality later on.

Honestly, most of those very promising projects are actually scams. That "too good to be true" project. First of all, it will be difficult to identify if this is really legit or not because they put in a lot of effort and you can even say that it is more legit than other successful projects. I was also one of the victims of that before, so now I've learned something and should be more aware, always research the project you're going to enter even if you think it's legit. Same on the individual you mentioned above.

What will happen to those who don't have a scientific mindset? Your title makes me nervous that I may be in danger. I am working on various projects as a community mod so i have seen a lot of scam attempts and methods commonly used by scammers. What I think is most important is to have common sense and control over your greed to avoid scams. Most of the time it is our greed that leads us to a scam.

Obviously you are making such a conclusion because you have only encountered scam, which was obvious and did not even require research. But if professionals such as Bernard Madoff¹ take up the case, then such a scam has been very difficult to identify for 40 years.
1. https://en.wikipedia.org/wiki/Bernie_Madoff