Topic: A more scientific mindset is necessary to avoid scams. - page 3. (Read 491 times)

"Bitcoin is not scientific research, so obviously it will just incorporate the most secure algorithm available at the time it was developed."-Um. The Bitcoin whitepaper has many citations, so I would consider that a significant scientific advancement. But Bitcoin's mining algorithm was never designed to advance science even though this is possible (don't try to argue with me because you do not know the details and I am done talking to you about the details), so that is a scientific setback which has attracted a lot of chlurcmks and chlurmcklets to the cryptocurrency ecosystem. But the idea that Bitcoin mining should not be used to advance science at all is completely and utterly asinine and is a signal of a very low level of intelligence.

"I wouldn't be surprised if a new algorithm comes out and is stronger, without a ton of drawbacks, people will fork or move to that."-No they won't. Bitcoiners do not care about science because they have a low level of intelligence. And the scientific advancement will not make the transactions go quicker or be more secure. And the Bitcoin community has proven that it is too !@#$ing inept to properly evaluate the claims of a scientific mining algorithm.

"Besides how does it help to avoid scams even if satoshi or others make a new algorithm? Most retail users don't really care about the nitty-gritty tech."-Scam victims are usually victims of a disease called stupidity. If Bitcoin had a mining algorithm that were designed to advance science, then not only would we have more science in the world, but Bitcoin will attract better people than it does, and those better people would be less likely to fall into the dumbest scams ever.

"Where does this hating science narrative come from? Due to the fact that many disprove the narrative that mining consumes a lot of energy or produces a ton of waste? That doesn't make sense. Most arguments that they bring to disprove this also use scientific research. Why would anyone hate science if it can improve Bitcoin or help its adoption?"-It only makes sense to people who are smarter than you.

wxa7115-The good news is that the Bitcoin whitepaper completely explains how Bitcoin works. It is a well written and quite understandable paper to those who are intelligent enough to understand anything about anything. So we should not just read the whitepaper to learn about the claims but about how the technology works and whether the way the technology works seems plausible. The Bitcoin whitepaper seems plausible from reading it and it works in practice too, so that is good enough for me, but the mining algorithm was not designed to advance science, so I cannot invest in Bitcoin.

-Joseph Van Name Ph.D.

Yup, what is the meaning of "Intellectual" if they can still be deceived, it's about the human mind that is still full of greed and sometimes can't think properly about what is being done.
Considering the fraud business as a business that will generate a lot of profit.
No one is truly immune to fraud, unless they don't do any work.

Note For OP:
It is better for you to use the "QUOTE" Feature to answer each member's comments here,
so that it is easier and looks more neat with the order of the discussion.

Reading the Whitepaper will never be enough to avoid scammers.
Fraudsters are smart and have a variety of ways to commit fraud including by making Whitepapers look genuine with projects that look real.

Especially now that using AI makes a good whitepaper easier and faster.

To avoid fraud, there must be detailed research to know whether the project is good or not.
There are many things that need to be examined including the team or developer behind it and several partners who work together.

My claims are very very well documented. I'm surprised wanting to discuss the topic you don't know this (thus proving my claim that educated and academics are not foolproof).

Here are some research based evidence that any village guy can google:

Barclays: young educated most likely to fall for scams.

FINRA & Stanford: People who never expected to be scammed often are scammed and are among the most vulnerable. Yes, that means most of us, who think we are so clever, are most likely to get scammed lol People ask me why I am so skeptical and expect scams, this is why.

I think it's not necessarily to have that kind of mindset to avoid scams in crypto. Scams are everywhere that's why we always have to do a research of the project we are going to invest. It's not that hard to identify if the project is legit or scam especially if you've been doing that for a long time. No matter how much time you've spent to research a project if it's real, you can't be sure that it's scam 100% because honestly projects can explode through hype even though it's not promising. A good example of that is the meme coins. In my opinion, experience and discipline is far better than scientific mindset.

Profits is our primary targets, there's absolutely nothing more considerable than earning in the system and sticking to a particular strategy. Information is key, most individuals often ignore vital piece of information concerning the system due to their ignorance or having no concerns because they're more focused on earning. They forget to anticipate learning before earning in the system, that's how one grow to become a professional trader. Scams are present in all sectors, since we can not eradicate the functions it serves, we just have to create awareness of the scamming activities that circulates round the system.

Reading the whitepaper is without a doubt a good step in order to determine if a project is any good or not, however it is also important that investors change their mindset as they are simply too naive for my tastes.

Investors need to be way more skeptic about whatever claims they read online, and if there is a way to test if those claims are true then they need to do so and see if those claims stand up to those tests, and if they did that then will soon realize the majority of the coins out there cannot pass such examination and they will be able to avoid investing in them, saving themselves a great deal of trouble by simply taking a few minutes of their time.

Why would it need to advance science? Bitcoin is not scientific research, so obviously it will just incorporate the most secure algorithm available at the time it was developed. I wouldn't be surprised if a new algorithm comes out and is stronger, without a ton of drawbacks, people will fork or move to that. Besides how does it help to avoid scams even if satoshi or others make a new algorithm? Most retail users don't really care about the nitty-gritty tech.

Where does this hating science narrative come from? Due to the fact that many disprove the narrative that mining consumes a lot of energy or produces a ton of waste? That doesn't make sense. Most arguments that they bring to disprove this also use scientific research. Why would anyone hate science if it can improve Bitcoin or help its adoption?

Reading a whitepaper is enough information to avoid scams.
There should be education and awareness in this field to avoid scams and understanding the common strategies used by scammers and the vulnerabilities they target can help educate us regarding this matter.

You can use scientific tools to educate yourself not necessarily to eliminate scams entirely but to reduce their prevalence and protect potential victims.

"Do you know that cryptocurrency that is in worldwide market today was been introduced base on scientific theory, do also know that bitcoin which is the top cryptocurrency today the technology was established due to scientific technology."-I read the Bitcoin whitepaper. While it is a scientific paper, Bitcoin still has a mining algorithm that was never designed to advance science, and the Bitcoin community really hates science. Bitcoin uses science, but that does not count at all since it is much better to contribute to science than to simply use it.

Their no scientific measure that can eradicate scam, to start with, a scam is be done and achieved base on your desperation to achieve what you want, so if you are not curious of getting something I don't think you and I can be a victim of scam, a scientific method can't prevent you of not be scam.

You emphasise on scientific mindset very well, if I should ask you what do you think is a scientific mindset from your theory and your observations. Do you know that cryptocurrency that is in worldwide market today was been introduced base on scientific theory, do also know that bitcoin which is the top cryptocurrency today the technology was established due to scientific technology.

slaman29-You have made a claim, so where is your scientific evidence to back up this claim?

Woodie-"When you say scientific mind then you are already implying this is an intelligent mind...but does it mean a scientific minded person can not be scammed???"-If one applies the scientific mindset to investing, one is less likely to get scammed. I never said it is impossible to get scammed, so even people who think they have a scientific mindset still need to be vigilant and apply their scientific mindset to their investments.

"As far as am concerned it's actually common sense that will allow a user from being scammed and doesn't require some certain level of IQ to tell from what's a scam and what isn't!!"-No. People need to do the research to find out what is legitimate and what is not. The problem is that most people only rely on first impressions and are unwilling to do any research whatsoever.

"Besides what happens if the scammer has a scientific mindset...i guess it's chaos and still comes back to common sense to save you from being scammed."-A scammer with a scientific mindset will be less likely to be scammed than a scammer without a scientific mindset.

"I think that you just need to learn about the basics in finding out what is legitimate and what is not."-By just learning the basics, you will not be able to find out what is legitimate or not. At the very best, you will just be able to follow what everyone else is doing. The problem is that most people are really dumb and don't know what they are doing; it is another case of the blind leading the blind.

"But I would like to put an emphasis on what you have mentioned, and that is to do background reading like the whitepapers. Because this will be the best way for us to find out if something is a scam or not. Again, it does not require us to be intellectual people to avoid scams, sometimes you just have to use your common sense and think critically."-Yes. One should always read the whitepaper and other documents before deciding to invest in something.

taufik123-And that is why we should talk about the probability of getting scammed since being an 'intellectual' is no guarantee that one is completely immune to scams.

There will always be gaps where people can be scammed even if they are smart or well-versed in advanced technology.
Speaking of fraud, there are many people who are even very careful about everything and take everything into account but can still be tricked, can still be hacked.

Even those who understand security will be too paranoid about all kinds of security that they think is lacking.
Being smart is relative and does not guarantee one is free from fraud.
Those who don't have the title of smart even tend to be safer, because they ignore what they don't need and don't over-act on something they think is out of line.

What is actually needed is a healthy mind, a mind that will think about whatever will be done in the next 1 second.
Full of calculation and vigilance.

Personally, I think in order for us to avoid scams, we do not need to pass through such scientific method for us to figure out if something is legitimate or not. Yes, we need to think critically and be logical about things so that we cannot be easily swayed by something, which is the common reason why someone was being scammed. But what I mean is that we do not have to make things complicated, because not everyone has the same intellectual capacities than others. I think that you just need to learn about the basics in finding out what is legitimate and what is not. Sometimes, it's very obvious and you just need to use your common sense. But I would like to put an emphasis on what you have mentioned, and that is to do background reading like the whitepapers. Because this will be the best way for us to find out if something is a scam or not. Again, it does not require us to be intellectual people to avoid scams, sometimes you just have to use your common sense and think critically.

Right. Having a scientific mind doesn't automatically mean you're scam-proof. Scammers are sneaky and can manipulate anyone's emotions and trust. It's not just about IQ or being super smart. Common sense is something natural that we just have to work on. Knowing what feels off and trusting your gut instincts can save you from falling into scams, no matter how scientifically inclined you are. And yes, scams don't discriminate based on someone's mindset. Even if a scammer has a scientific mindset, it can lead to total chaos. But in the end, it all boils down to common sense. Staying aware, being cautious, and recognizing the warning signs are universal defenses against scams. So, whether you're a science pro or not, being street smart can keep you safe. A scientific mindset would help but we shouldnt stop there. Wehve to keep our eyes open, be skeptical when something seems fishy and trust our instincts.

When you say scientific mind then you are already implying this is an intelligent mind...but does it mean a scientific minded person can not be scammed??? Am Pretty much sure such minds can be scammed too.
As far as am concerned it's actually common sense that will allow a user from being scammed and doesn't require some certain level of IQ to tell from what's a scam and what isn't!!

Besides what happens if the scammer has a scientific mindset...i guess it's chaos and still comes back to common sense to save you from being scammed.

I understand what you are saying. The point here is about avoiding a fraud scheme. A rational mindset and research must be carried out in detail and continuously. Like the case of FTX, if it wasn't for thoroughness, FTX might still be standing today, but there was someone who was thorough and revealed the scheme that FTX had problems and ended up being a scam.

We often find fraudulent schemes in crypto and outside of crypto, and no matter how rational someone is, they will always be deceived because they are lured by the amount of money generated or promised in the scheme. The point is that this can be avoided with a rational mindset and not being easily attracted to placing money in things that have the potential to be a scam, the control is within oneself and perhaps even the advice of an expert will not work on people who are lured in by scams.

Would it surprise you to know that a lot of victims of big scams are actually highly educated people who know scientific research very well?

Yes we hear a lot of common scams but these are small fish. Wealthy academics get scammed by bigger lies.

The truth is once you attack the emotion and greed, common sense goes out the window. Hence you must use Bitcoin before investing. Pure speculators only see money without utility experience. No science thinking saves you

carlfebz2-Um. Common sense tells me that I need to investigate and use the scientific method. And if something is not worth investigating, then it is not worth investing in. If you only allow yourself 2 seconds to judge something based on first appearance, then you will make a ton of bad decisions. Most Bitcoiners and crypto chlurmcks make terrible decisions because they refuse to investigate anything at all but instead judge something without even giving 3 seconds of their time to think about it.

-Joseph Van Name Ph.D.

Totally agree into this sentiment on which it is really just that actually on point on which you wont really be needing for you on making yourself that too technical or whatever kind of approach that you would really be needing to do because having just that making use of your own common sense would really be just that enough or fine and just like been said that if there's something that it is really that too good to be true
then its most likely a scam or make yourself that some in depth search on how its possible even it do really looks impossible, with this kind of behavior and mindset then it is really that unlikely that you would really be getting scammed since you do have that kind of realistic approach on things.

If you are that someone whose really that greedy then there would really be chances that you would really be that get scammed since you would really be getting easily hooked up with those true to be good kind of offers on which even it is already that too obvious but still you are really that decide on engaging into it just because you do let your greed control you and this is something that should
really be that avoided in the first place.

Yamane_Keto-"Bitcoin's intense energy consumption is one of the topics that has been discussed a lot, and the search option will show you hundreds of topics."-That is great. But it is not good enough.

"There is no contradictory link between Bitcoin and artificial intelligence, the two can be a revolutionary technology."-Right now, AI is kind of a fad just like blockchain was. But right now, AI has some legitimacy to it even though it has been hyped to death, but I cannot say the same thing about public blockchains.

"There are no direct links between Bitcoin and fraud. It is true that there is some connection between cryptocurrencies and fraud, but with a little observation, you will find a big difference between Bitcoin and cryptocurrencies."-I agree that Bitcoin is different than most of the other cryptocurrrencies and that Bitcoin is a legitimate cryptocurrency that was constructed through a lot of good research while many other cryptocurrencies are mostly copies of Bitcoin with little innovation. The chlurmcks who value other cryptocurrencies need a scientific mindset too, so there is no contradiction there. But cryptocurrency technologies need to be associated with scientific advancement instead of science denial and scams. If Bitcoin was devoid of scammery, we would not have boards on this site about reputation now would we? And are you suggesting that the Bitcoin community should be less scientifically minded? Because why would you do that? That does not help anyone. The Bitcoin community is already full of science deniers as it is, so they need more respect for science so that they don't fall into scam after scam and have weird cult-like ideas. There are plenty of Bitcoiners who have quite irrational ideas, and they need a more scientific mindset so that they can replace those ideas with more realistic ideas.