Be Excited about the rise, be wary about the scams, and loss

wxa7115

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Bitcoin is GOD

Quote from: acener on January 03, 2021, 04:59:55 PM

The first thing that came to my mind when I read the title was XRP,
Everyone was so excited and pumped about XRP last year before the snapshot,
It gain so much attention and been hype then after the price gets high the fall begun and so many negative news came up.
So yes we should be excited about the rise but be wary about the scam and loss.

This should show us that investing in one of the top coins in the market is no guarantee that you are going to be safe and that your money will not disappear instantly, there are several coins in that top 10 that I will never touch and XRP was one of them.

Another coin that I will never touch is bitcoin cash, while I did not had a problem with the fork itself as this is very common in open source projects, the fact they called themselves the real bitcoin and many people were outright deceived because of them bothers me to no end so I see them as nothing more but scammers and no one should ever invest in that coin.

hahay

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That's right, always be careful and make sure that whatever you access to open a wallet and also buy cryptocurrency, always use a trusted place or exchange and make sure everything is correct. Such vigilance should be the basis that must be realized, I personally also suggest some friends and even my own brother when they are interested in owning crypto because the price continues to rise, they start buying it but always remember this is an already high price so it is possible to down, so there's no need to hold on for the long term but it is an option and by always checking the market at least to take the profit you expect in the short term.

Tahsin Kabir Kollol

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We are all very happy and excited about the rise in the price of Bitcoin but many are using this positive side for their nefarious purposes. As the market grows, the origin of scammers increases, and they can easily deceive enthusiastic people. Therefore, new projects and areas of investment should be carefully considered before investing. The decision should be made by analyzing the market through proper data verification and selection whether it is hastened by fake information or news.

semobo

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Scammers are more active at the time of peak prices so even an experienced crypto user should be very keen with their every actions related to cryptocurrencies. Media doesn't portray cryptos as too bad if we compare to the 2017 scenario which makes people to think that they also should invest in cryptocurrency but newbies don't have knowledge about buying and selling that is where they get scammed mostly.

If they use correct keywords in google then they may get into bitcointalk for further discussion so hopefully many will enter here and get the actual information.

lovesmayfamilis

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Against the background of today's news about the growth of bitcoins, there are also more and more such news, talking about all sorts of scammers. Human nature is such that many believe something that is repeated many times. The Internet is full of advertisements that promise huge profits if you invest your money in a project, and in a few days, it will return the entire amount invested, even with interest.
The higher the popularity of Bitcoin and other cryptocurrencies, the more such scammers will be.
Some countries ban bitcoin because it cannot be regulated and the population is at risk of fraud and loss of their property.
Instead of prohibitions, it would be time to decide to educate the population on the rules of Internet security and literacy concerning cryptocurrencies. Otherwise, it is impossible to stop any scammers with their schemes. And also not stop the development and popularization of bitcoin.

shoreno

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Quote from: allthebitandbobs on January 03, 2021, 07:57:52 PM

What scams going around this time? Ico are Dead And defi hype is over with the number of scams.What the new kid on the block for the scammers

hype of defi might be over but there are still few defi being released and active but this isnt all about defi or ico because scams can happen in so many ways . there is that guy that will sell a gambling script , there is that guy that will attract people to invest on their ponzi schemes and so on .

thinking all of them is verry stressful , we need to be happy and excited sometimes to forgot those stress that builds up . seeing a price rise and pump can be our own little way to feel positive

irixo10

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Bitcoin price increase has quite attracted a lot of attention and this attention grew massive when it crossed its ATH and now it is getting more interesting because it looks like it is heading to $40k. But most importantly, just like you rightly said, this is also the time to be sensitive because scammers won't fail to use every possible means to get their victims. Also, it is very important as well that newbies or those we invite into the crypto space to understand that, there is a phase called the bear market where every where turns red, but however in the midst of this, patience is also required and very much needed as the long term holders of Bitcoin are always the ones to enjoy the bull run. Lastly, understanding the crypto space, the risks etc, is the best way to start for any newbie.

Question123

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The cases the of people who will get scam by the scammers price is very high and the scammers will do their best to stole people's money.

Excitement is really normal because we are exciting the profit their get when the bitcoin is rising.

Scammer are always there they watching who is their next victim so keep safe your bitcoin from them.

sapnu

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It is not only applicable for times like this where bitcoin's value is currently at its highest. Each time you make an investment on a certain cryptocurrency, you need to make sure you are fully aware of the price changes. You need also to make sure that the transaction you are involved with is not a scam. Always analyze and calculate your possible gain or loss so that you will know what's the best thing to do with your investment and always make sure you are knowledgeable enough before risking on anything here in the crypto world.

kentrolla

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Quote from: gabbie2010 on January 03, 2021, 10:24:08 PM

Quote from: pixie85 on December 30, 2020, 02:24:14 PM

It's really easy to avoid scams. You just have to curb your greed Wink

An extremely rare occasion is usually a scam, same as some really cheap deal of your life that someone is trying to persuade you to take.
Buy and sell from confirmed sources and keep coins offline, that's all there is to it.

The spirit of greediness is much in newbies who sees cryptos as means of becoming rich after being tricked with fake and massive profits made in fictitious investment.
I quite agreed that this very common whenever there is a bullish runs in cryptos markets because attractive to newbies.
Making a research to know the confirmed source of buying coin and trusted wallets is equally important too to avoid falling into a wrong hand.

You are right, you can even see many threads created by newbies in this forum itself like which time to invest in BTC and few more. This means they are not even aware of market strategy, Even if we Google it we will get the result like buy low and sell high. Why aren't they follow this is my biggest worry. If the price starts falling for sometime they will sell it right away this is purely called panic sell, only research and analysing would help such people from this until that stay calm.

gabbie2010

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Quote from: pixie85 on December 30, 2020, 02:24:14 PM

It's really easy to avoid scams. You just have to curb your greed Wink

An extremely rare occasion is usually a scam, same as some really cheap deal of your life that someone is trying to persuade you to take.
Buy and sell from confirmed sources and keep coins offline, that's all there is to it.

The spirit of greediness is much in newbies who sees cryptos as means of becoming rich after being tricked with fake and massive profits made in fictitious investment.
I quite agreed that this very common whenever there is a bullish runs in cryptos markets because attractive to newbies.
Making a research to know the confirmed source of buying coin and trusted wallets is equally important too to avoid falling into a wrong hand.

allthebitandbobs

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What scams going around this time? Ico are Dead And defi hype is over with the number of scams.What the new kid on the block for the scammers

dimonstration

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Dimon69

Quote from: acener on January 03, 2021, 04:59:55 PM

The first thing that came to my mind when I read the title was XRP,
Everyone was so excited and pumped about XRP last year before the snapshot,
It gain so much attention and been hype then after the price gets high the fall begun and so many negative news came up.
So yes we should be excited about the rise but be wary about the scam and loss.

XRP brings me before good profit in trading but we must know when to stop acquiring altcoins by knowing the technical but as well the news that are related to them, we must know until when we were able to earn from it and decide to stop loss once price starts to dump especially with some news related to why the price is declining. Always be attentive in what we invest with put time and effort as much as possible to know the updates, I already learn my lesson from ICO or altcoins that does not have any value now after the 2017 ATH.

acener

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The first thing that came to my mind when I read the title was XRP,
Everyone was so excited and pumped about XRP last year before the snapshot,
It gain so much attention and been hype then after the price gets high the fall begun and so many negative news came up.
So yes we should be excited about the rise but be wary about the scam and loss.

Oilacris

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Quote from: pixie85 on December 30, 2020, 02:24:14 PM

It's really easy to avoid scams. You just have to curb your greed Wink

An extremely rare occasion is usually a scam, same as some really cheap deal of your life that someone is trying to persuade you to take.
Buy and sell from confirmed sources and keep coins offline, that's all there is to it.

Curbing you greed isnt hard its just a matter of control on how you do realize things up and if you do missed out that one or letting your greed overcome you then its over.

You should really be mindful on how reality works or on hows the real deal.If not then you would really experiencing lots of problems in near future.

Be aware and sensible and use up your common sense because if not then you would lose up big time. Its good to see gains but dont be on a hurry.

wxa7115

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Bitcoin is GOD

Quote from: Mrsonutiten on December 30, 2020, 12:15:51 AM

First off, all these comments are from people or are they bots? I notice even on twitter when it comes to politics, you see these accounts post comments where it sounds like a bot... then you see other users who post the same exact thing.

I assume the scam here is you then contact that persons whatsapp or phone or telegram, then they ask you for money... then you get scammed?

That is basically it, bots are becoming incredibly sophisticated and there will be a time in which you will be unable to distinguish between a real person and a bot, and even if there could be humans behind the keyboard that does not mean they are like you, they could be paid in order to give positive reviews about whatever you read in social media in order to attract victims to the scam.

All in all the solution to this is simple, do not invest in anything unless you are completely sure on what you are doing and if for some reason you are unable to do so then you need to leave behind any idea of making fast profits by trading or investing.

milewilda

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Quote from: pixie85 on December 30, 2020, 02:24:14 PM

It's really easy to avoid scams. You just have to curb your greed Wink

An extremely rare occasion is usually a scam, same as some really cheap deal of your life that someone is trying to persuade you to take.
Buy and sell from confirmed sources and keep coins offline, that's all there is to it.

Curb your greed and of course you should really be having that common sense and logical thinking for you to able to avoid on possible scam attempts that you might encounter.
People do miss out this very basic thing because they do let their greed to overcome and made out foolish decisions which do in result into a loss of money.
You would really be able to save your ass if you do really mind towards your actions on things around you.If things or offers turns out to good be true then always
have doubts and think again on engaging with it.

pixie85

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It's really easy to avoid scams. You just have to curb your greed Wink

An extremely rare occasion is usually a scam, same as some really cheap deal of your life that someone is trying to persuade you to take.
Buy and sell from confirmed sources and keep coins offline, that's all there is to it.

Kez1817

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Quote from: Krislaw on December 28, 2020, 05:28:19 PM

Scams can't be stopped 100%, there will still be some newcomers that aren't aware of all the scam methods these scammers have plotted. Scam like the ones on twitter are looking more legit, people now buy verified twitter account to post scam link. Such is very easy to believe.
I also received an email with a phishing link from a fake ledger email. I'll make a post on it

Yeah, and many people have been scammed repeatedly but still not learning. In telegram, even the admin always remind that don't believe on scammers but people are too lazy and didn't listen the reminder. There's a lot of scammers anywhere, and they are very attractive to others that's why many are still blind to fall to them.

lifeforcepools

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If you are engaged in crypto investing, you should be prepared for these factors at any time - yesterday, today, tomorrow.

Fredomago

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

To everyone new reading this hope you don't have reason for your excitements to turn to regrets, I consider myself new just like you, but I am indefinitely trying to bank-in more knowledge, experience.
Amazing, exciting is not to enough to define the price of Bitcoin ATM and this news is almost everywhere, even friends of my who are not into crypto-coin are hearing of this break-off the All time highs, and as expected they want-in.
Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

Everyone of us will always Newbie in crypto market because development in this area is continuously progressing so at any time we will have to adopt for not tobe leave behind.

Quote

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

The best weapon? prevent investing from New project ,i am not saying they are all scams but majority is.
so instead of risking in those why not just Put in legit and existing currencies ,maybe the possible Profit is lower but the security and safety is higher.

LogitechMouse

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When there is money, there is always scammers Cheesy

.

This also happened in 2017 when scammers are swarming in the ICO and numerous scams have happened on that year and in 2018. Now 2020, scammers have swarmed the DeFi and they scammed so many investors again. This is where the knowledgeable and not ignorant investors have the upper hand. They know which are scams and which are not.

Now regarding to buying Bitcoin, knowing the basics of Technical Analysis will help you determine what will be the possible next move for Bitcoin. Losses are inevitable but having more knowledge can lessen your losses.

Latviand

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Now that bitcoin is still making history and pushing itself into $30k mark then this is the time where criminals are more active.

Scammers are more vital in different platforms fooling and looking for someone to be their victim.

Those fake giveaways, fake schemes, fake help are the things that they are using to lure their victims to send bitcoin to them. Many newbies are unaware about this because all they want to do is to make money and deal with the market to make their investment profitable during bull run. Don't be too excited and greedy, be careful when surfing the internet especially those social media platforms.

raidarksword

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Scammers appears when bitcoin price is surging up and they come from the hole to social media platform especially facebook wherein they are spamming comments about bitcoin investments with flowery words. People without knowledge on bitcoin will certainly judge right away that bitcoin is scam because of these greedy people wanted to take the advantage of people's innocents.

michellee

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Quote from: Mrsonutiten on December 30, 2020, 12:15:51 AM

First off, all these comments are from people or are they bots? I notice even on twitter when it comes to politics, you see these accounts post comments where it sounds like a bot... then you see other users who post the same exact thing.
I assume the scam here is you then contact that persons whatsapp or phone or telegram, then they ask you for money... then you get scammed?

Those people are real people. The owner of the Youtube channel, Facebook, can pay someone or more people to comment about making money from bitcoin to attract more new people to follow their steps and join under them so they can make more money. You will see more like that in the future, especially if the bitcoin price is at the highest price, and many new people will get scam by them if they can not learn by themselves. As long as you can be careful to act on those things, you will not get scam by them, and you will have a chance to make money.

adzino

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

-snip-
Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

Don't scare them lol. There is no "wrong" time to join. As long as you didn't join to make quick profit and here for holding long term, you will be fine. I am sure they are aware that the price is "sensitive" in the market.

Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

-snip-
+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

1. If you play smart, you won't be scammed. If you fall for their dumb tricks or take no cautions, you deserve to get scammed.
2. Like I said, they are probably aware of this. If they invested huge amount of money, they probably did their homework. If not, this experience is going to be a lesson for them.
3. Obvious.

Genemind

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That is true, the number of scam attempts and scammers increases whenever there is a price break-out in crypto, some people fall, victims, since there are newbies that just got into crypto due to the bull-market. Just be aware of their schemes, scammers are being creative nowadays and they are finding new ways to target people, mostly who are new to crypto.

Also, do not put too much faith in any crypto, the market might be soaring high at the moment, it will fall any time soon and when it falls a huge market correction will take place and will leave those who invested out of FOMO huge losses. Enjoy the moment, but be aware.

panganib999

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Quote from: ?? on ??

Quote from: oktana on December 29, 2020, 06:25:17 PM

Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.

This is very correct. In times when the price of Bitcoin is high, there's usually this increase in number of scammer(because you may have the Bitcoin gem).
So imagine now we've a new ATH, there'll be more of them, and everyone needs to watch out so we don't fall victim in anyway!

As the price of bitcoin increases, scammers too have become rapid these days. So as much as possible, we should learn how to avoid scammers by being so cautious and wary in every transactions we make. As our excitement for bitcoin price increases, our awareness for new ways of scamming should increase too so we will not fall into losses rather than gaining more profits.

Scanmers are everywhere. They didn't care about others and how their money earned. They also didn't choose who to scam because for them thr most important things is that they will have the money. Yes. I agree to the idea of the more bitcoin value rises, the urgeness of the scammers to scam are highly possible because of the value. We all know that bitcoin is one of the best and thing today because of the new achievements but I guess the reason why they are scamming is that they are too lazy to work hard in order to earn. Yes. I also agree to the idea of be excited to the rising value of bitcoin and be aware to the increasing numbers of scammers as the value goes up.

Mrsonutiten

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So when I'm watching some bitcoin videos on youtube... doesn't matter what it is... could be about bitcoin or CNBC talking about bitcoin, i see in the comments section, people making comments like

btc is the future

i made a ton of money investing in btc with so and so person

then you see someone post someones whatsapp or phone number Everywhere Scammers Ready To Stole Also Facebook Instagram Twitter ETC All social media are covered by Scammers You Can See Also Ads About Crypto i Invested 10$ now my Earnings is 1000$ and say contact this person if you want to make money

telegram

how btc is better than stocks

First off, all these comments are from people or are they bots? I notice even on twitter when it comes to politics, you see these accounts post comments where it sounds like a bot... then you see other users who post the same exact thing.

I assume the scam here is you then contact that persons whatsapp or phone or telegram, then they ask you for money... then you get scammed?

bryant.coleman

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I have been around here for more than 8 years and I can confirm that there will be an uptick in the scamming attempts, whenever the prices start going up. The users need to be extra careful at this point. There can be several types of scams, including phishing attempts, password stealing and identity theft. Before sending your coins, confirm multiple times that you are doing the correct step.

Nikole Fischer

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

To everyone new reading this hope you don't have reason for your excitements to turn to regrets, I consider myself new just like you, but I am indefinitely trying to bank-in more knowledge, experience.
Amazing, exciting is not to enough to define the price of Bitcoin ATM and this news is almost everywhere, even friends of my who are not into crypto-coin are hearing of this break-off the All time highs, and as expected they want-in.
Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

Wow, well said! This information is really useful for beginners. When I first started to get involved in bitcoin, I looked everywhere for information like this one. I think it's important to advise newbies so that they can read and learn something new

oktana

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.

This is very correct. In times when the price of Bitcoin is high, there's usually this increase in number of scammer(because you may have the Bitcoin gem).
So imagine now we've a new ATH, there'll be more of them, and everyone needs to watch out so we don't fall victim in anyway!

Yatsan

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It is already expected that together or along with the hype of people upon engaging into purchasing or investing with Bitcoin, there are certain associated risks that can come over which includes those scammers spamming around those newbies or potential investors fooling them around of what they supposedly do like teaching them an easy and understandable way on how they can purchase or invest Bitcoin speaking like a negotiator or middle man to those newbies and turns out to be slowly getting their money for their own personal use. They are taking advantage of the hype so it is expected to happen. You just need to embrace yourself if you were just new not to fall into those schemes and be aware of the possibilities that you might encounter such happenings along the way.

fishbonez11

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A lot of scams are coming in the name of Bitcoin. They going along with bull run. This is the downside of bitcoin, anyone can easily take advantage of people by using Bitcoin. Since there is a hype going on, people got curious and when hearing about bitcoin they becoming willing to risk. Last month, people got scammed in my place, 4 million Dollars where easily taken away from the people. They were decieved that their money will be invested on Bitcoin but the truth is they just use the name to gather more investment.

CarnagexD

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A really good heads-up and reality check for people who are into cryptocurrency for a quick buck which in theory is something that can be achieved. However, few are only able to take advantage of this. That being said, knowledge still would beat anything, so arm yourselves with it, and you're sure to thrive and survive in the cryptocurrency industry.

Quote from: Krislaw on December 28, 2020, 05:28:19 PM

Scams can't be stopped 100%, there will still be some newcomers that aren't aware of all the scam methods these scammers have plotted. Scam like the ones on twitter are looking more legit, people now buy verified twitter account to post scam link. Such is very easy to believe.
I also received an email with a phishing link from a fake ledger email. I'll make a post on it

But people who get scammed can be lessened. As I have mentioned above, knowledge beats anything. Including scammers. So if you're a newbie to the industry yourself, please arm your selves with knowledge so you don't do the same mistakes we did in the past.

jademaxsuy

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There are some people that are unaware of the things that happen around and they only get to know it when they became a victim of scam and fraud activities. There are many of it as stated in the OP and that we should help them aware by making some precautions regarding on some activities like fake giveaways using known personalities, companies like exchanges that are fake. Remember that if it is too good to be true then most likely that is a scam.

chanler

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The scam is one thing that is actually like glue in the crypto world, we cannot remove it, but we can avoid it as long as we know how to analyze them. Scams failed projects, and also FOMO of hype coins may cause any loss. That is why we must be more careful every time we want to invest or take profits of any coins.
Soemtimes, there are some other problems that people face in the crypto world, related to greediness and also paniuc besiudes the existence of the scams and also theriks of loss.
The two emotional codnitions lead the risks of loss higher and higher again time to time.

Krislaw

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Scams can't be stopped 100%, there will still be some newcomers that aren't aware of all the scam methods these scammers have plotted. Scam like the ones on twitter are looking more legit, people now buy verified twitter account to post scam link. Such is very easy to believe.
I also received an email with a phishing link from a fake ledger email. I'll make a post on it

wxa7115

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Quote from: Zionatin on December 23, 2020, 03:05:45 PM

People need to stop blaming scammers when they feed them constantly ensuring they come back. I can understand that some of the more advanced scams you can fall for I am not talking about those. I am talking about the 99% other obvious scams people insist on supporting. Imagine if people stopped investing in scams and invested in legit companies instead? It is very disheartening to watch.

It is obvious they share a great deal of the responsibility as well so do not think that I am defending them, however as stated before a great deal of the fault lies also in the way marketing presents a product and service, as you may have guessed because of this bull run my friends that knew that I was into crypto have come to me for advice, but why?

Did they changed their posture and now believe that a currency not controlled by the government and that cannot be inflated at will is a good option? Of course not, they want to invest because they want to make some quick profits, so they have their expectations warped by the marketing and even if someone that knows that is too difficult like us warns them they will ignore us and listen to the scammers that promise to make their wish come true and against that we cannot really compete.

Zionatin

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People need to stop blaming scammers when they feed them constantly ensuring they come back. I can understand that some of the more advanced scams you can fall for I am not talking about those. I am talking about the 99% other obvious scams people insist on supporting. Imagine if people stopped investing in scams and invested in legit companies instead? It is very disheartening to watch.

sheenshane

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Quote from: wxa7115 on December 22, 2020, 04:47:20 PM

Unfortunately scammers are a big problem everywhere and not only in this market, ...

I tend to agree, and even when the internet isn't yet here, scammers are all around the place. You have to expect that there are some who only know how to take advantage of people. That’s a fact.

There will never be a rising road if there is no shallow. You have to make sure that you’re ready because, on every continuous road, it’s always ups and downs, so you just need to be careful.

Quick advice,

Don't let yourself get caught by FOMO. That’s a trap.

wxa7115

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Quote from: avikz on December 17, 2020, 05:45:11 AM

Scammers are a big problem since a long time now! Initially the internet scammers were playing big on hyip/ponzi scams but after the closedown of TalkGold and MMG forum, they had moved to crypto market because it grants them even more anonymity than traditional payment processors like PerfectMoney or Alertpay!

I heard from my local news that police arrested a person who were scamming people in the name of bitcoin. He was promising double return within 25 days to the investors. Now those who are aware of bitcoin, they would know it is impossible to get a confirmed return from bitcoin and they understand the risk. But still people have fallen for it.

Scammers will always find new ways to scam people. Education and awareness can save from a disaster!

Unfortunately scammers are a big problem everywhere and not only in this market, just look at your TV and put attention to the ads and actually watch them, do you really think that the products and services announced there can even do half of what they promise? The answer is obviously no, but people are so used to this kind of advertising that when they see it in a financial offer instead of seeing a huge red flag they see the opportunity of their life.

And it is that kind of thinking that produces serious losses to people like that, this is why I have always thought that the first thing that people that are interested in investing should do is to inform themselves to find out the most common ways scammers use to try to get money out of their victims, that way they will be able to protect themselves when the time comes.

Oasisman

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Quote from: Pokapoka124 on December 22, 2020, 01:57:06 PM

With the pump in btc comes the FOMO, some crypto skeptics are changing their minds about bitcoin and buying btc at a high price instead of waiting for a dump. The psychology surrounding bitcoin is an interesting one, people like to buy coins when the price is $10k as opposed to when it is just a dollar

Well, that's kinda usual. FOMO has been goin on around everytime Btc tends to make a huge run or even a small one. But right now seems different as Btc hits a new all time high and break through the past ATH record like it's nothing. Anyway, If Btc reaches the 6 digit figure like everyone is excited about, you won't say $23k is a high price as your entry point, just like the people who bought Btc at $1,000 in 2016.

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With the pump in btc comes the FOMO, some crypto skeptics are changing their minds about bitcoin and buying btc at a high price instead of waiting for a dump. The psychology surrounding bitcoin is an interesting one, people like to buy coins when the price is $10k as opposed to when it is just a dollar

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Quote from: Jating on December 22, 2020, 01:03:38 PM

I guess everyone here went into this kind of experience when starting their crypto journey. We all fall as victims to this scammers. During my day, it was those bitcoin doubler, now scammers have evolved and became more sophisticated with their attacks.

The common practice now are the outrageous number of scammy projects getting launched daily. I thought we were done with the meme and food tokens but it seems they're beginning to become a norm. In times like this the best you can do for yourself is to avoid investing in any project you find on the exchange just because they're making wave.

During bullruns any project can give impressive ROI although that doesn't mean they're good for investing and if you do find yourself investing in them. Don't consider them as long term investment or you'll regret making such decision. Just ride the wave like everyone else.

Jating

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I guess everyone here went into this kind of experience when starting their crypto journey. We all fall as victims to this scammers. During my day, it was those bitcoin doubler, now scammers have evolved and became more sophisticated with their attacks.

So for newbies, yeah, you could be the next victim, or you could avoid to be the next statistics if you keep yourself up to date with the latest news and educate yourself. Don't be greedy and think that this market is a get rich quick, it's not. You need to be very careful and learn how everything works here, including scammers MO.

Husires

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Beginners bear the bulk of the loss because they join when the market is green or the wave has risen, and they buy at the top and begin to panic when the price falls, and whoever controls himself sells at a lower price or when a price correction occurs.

Determining short positions and resistance levels will reduce the loss and increase the likelihood of obtaining more liquidity for continued speculation.

scamming is a big problem but lazy scammers dont pay any attention for making new projects.

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.

I agree and your advice is not just for beginners. but we also have to stay focused. It is true that it is not enough just to have a new passion for buying crypto due to hearing about the current bitcoin price trend. because this can trap someone who doesn't know when to start.

As for scammers, they will not be separated from the crypto world, but the most important thing is that we as active users who want to invest, stay on a rational path and trade in a rational way. not only because of the lure of big profits, it will eventually fall into the wrong abyss.

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

Newbie joining the market at the all time high price is not an error cause every time is good to invest in the market but newbies are always advised not to join during ATH price because the market correction can happen at any moment and unexperienced newbies may not have the knowledge to stop loss.

Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

What you listed is part of the main reason newbies are advised not to invest when it ATH season and I saw a thread opened by a newbie early where he explained how he was tricked to invest in OEN which is a completely inactive coin.

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Even as bitcoin enthusiasts we are not ignorant of the devices of scammers in the net. Now bitcoin is $20k we should expect more attempts and penetration from scammers with lots of fake Crypto investment sites. As Newbie it’s important you don’t be greedy because these is the time scammers go through different platforms and portray as bitcoin broker with high rate if you invest with them. You can only be scammed through these means only if you’re greedy.

Bitcoin is decentralized so you should keep your login details and recovery phrase in secure environment.

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Quote from: nicecrypto on December 17, 2020, 10:21:48 AM

Fomo will come in to play, this is time to text people's ability to make right decision, to be very observant and vigilant, because now chillers and scammers are in the loss looking for naive newbies to deceive and take their money,
it is important not to get carried away and jump into anything just to make huge profit that may never come.

FOMO will be always a double-edge sword, sometimes it could bring you profits, sometimes it don't. What I mean is riding the hype sometimes makes you enter in a wrong door, leading to a cliff that'll make your capital fall, even without scammers.

But of course scammers will never be outdated about what's happening in cryptocurrency world. They are waiting always for an uptrend topic and then will create something similar to it and spread it out to social medias using phising links. So, if you're too excited and not thinking about possibilities to be scammed, you can say goodbye to your funds.

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I am glad you decided to take the time to write all this up. I am not new to bitcoin but when I was it was very exciting but also very confusing. I can't imagine coming in to bitcoin at a time like right now. When I first got in to bitcoin is was worth $150 a coin..so these are indeed very different times. As a financial advisor the crypto have always been very obvious to me but I have also spent many years of my life learning about this kind of stuff. For those that haven't, you couldn't be more dead on to warn them of what lurks out there. Well done.

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Quote from: mk4 on December 22, 2020, 09:19:03 AM

Quote from: onooks on December 17, 2020, 10:59:50 PM

the scams are everywhere its like walking on a minefield

It will only seem to be like a minefield if you go in blind. But if you enter the field with you knowing about the scams and with you not being easily deceived by their tricks, then it's like going in the minefield with God Mode on.

Good term "God Mode activated"
A minefield that explodes at any time when you step on it is very dangerous. Many methods are used by scammers. But when we walk around with our eyes open and realize that there are many pitfalls, we will continue to be careful.
I even every day receive a lot of SPAM emails and private messages on telegram to make investments, mode need withdrawal assistance and many more.

As said by the OP. Work with ease, Patience, Learn and Smart. it will be save.

mk4

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Quote from: onooks on December 17, 2020, 10:59:50 PM

the scams are everywhere its like walking on a minefield

It will only seem to be like a minefield if you go in blind. But if you enter the field with you knowing about the scams and with you not being easily deceived by their tricks, then it's like going in the minefield with God Mode on.

Fundamentals Of

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Just be wary about the scams. They are always around regardless of the price of Bitcoin. They're perhaps rising in number when the price is in a very strong rally because people are becoming very interested in it that scammers are taking notice of their urgent or rash behavior. They will take advantage of a single erroneous slip especially made by a newbie.

In terms of loss, there is really no loss if people will not sell with a loss. It's really up to them to have a loss or a profit.

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That’s correct, a lot of things are happening and people needs to be very careful, especially newbies that wants to jump in because they are seeing the price has broken through the $20,000 price rate all of a sudden, they have really get to be careful or else they will lose.

Earlier this year I used to tell people that the price was going to get to $30,000 before it drops, but this time around I am kind of having a change of mind because I think a lot of people have been waiting for this $20,000 price range and they might all start selling now that it has gotten to this price which might affect it and cause it go down again.

Lorence.xD

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Quote from: onooks on December 17, 2020, 10:59:50 PM

the scams are everywhere its like walking on a minefield

If you know where the mines are, then you are clear to walk everywhere, sad thing about it is that most mines on the minefield are getting trickier figuratively. The only way that these scams would not be prosperous is that we as an individual be vigilant about what is happening around our circle when we are on the Internet, most scams do not target smart people but we can still be of help towards others by warning them about this scams popping up.

The only time that scammers will win is the time that we become indifferent towards their damage, so always be vigilant.

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the scams are everywhere its like walking on a minefield

RokokGudangGaram

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Yeah the right timing to ride the market is the best thing that we should do and we should ride the hype the of bitcoin price as much as possible so we can lessen the big losses in case the market will flip anytime.

Being patient and smart is very helpful in order to avoid any losses or being scams by the scammers and also the most important to avoid in order to fully counter those scammers is you should not be greedy. Learn to accept a little profit as the time will pass by and once you can build a solid experience already, the profit will just expand by it's own.

nicecrypto

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Fomo will come in to play, this is time to text people's ability to make right decision, to be very observant and vigilant, because now chillers and scammers are in the loss looking for naive newbies to deceive and take their money,
it is important not to get carried away and jump into anything just to make huge profit that may never come.

BIT-BENDER

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Quote from: avikz on December 17, 2020, 05:45:11 AM

Scammers are a big problem since a long time now! Initially the internet scammers were playing big on hyip/ponzi scams but after the closedown of TalkGold and MMG forum, they had moved to crypto market because it grants them even more anonymity than traditional payment processors like PerfectMoney or Alertpay!

I heard from my local news that police arrested a person who were scamming people in the name of bitcoin. He was promising double return within 25 days to the investors. Now those who are aware of bitcoin, they would know it is impossible to get a confirmed return from bitcoin and they understand the risk. But still people have fallen for it.

Scammers will always find new ways to scam people. Education and awareness can save from a disaster!

They didn't put a stop to their ponzi scheme, they shipped their ponzi, structures/format and they intelligently -in the irritatingly evil way- fused their ponzi scheme into/with crypto-coin, and the scam figures may rise in coming weeks-months.
Like kids rushing for a free candy, -Newbies- that don't want to invest or haven't the capital/finance they will rush for ponzi-scheme or free way just to earn Bitcoin or crypto-coin. This mis-conception must be corrected.

avikz

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Scammers are a big problem since a long time now! Initially the internet scammers were playing big on hyip/ponzi scams but after the closedown of TalkGold and MMG forum, they had moved to crypto market because it grants them even more anonymity than traditional payment processors like PerfectMoney or Alertpay!

I heard from my local news that police arrested a person who were scamming people in the name of bitcoin. He was promising double return within 25 days to the investors. Now those who are aware of bitcoin, they would know it is impossible to get a confirmed return from bitcoin and they understand the risk. But still people have fallen for it.

Scammers will always find new ways to scam people. Education and awareness can save from a disaster!

BIT-BENDER

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To everyone new reading this hope you don't have reason for your excitements to turn to regrets, I consider myself new just like you, but I am indefinitely trying to bank-in more knowledge, experience.
Amazing, exciting is not to enough to define the price of Bitcoin ATM and this news is almost everywhere, even friends of my who are not into crypto-coin are hearing of this break-off the All time highs, and as expected they want-in.
Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

Topic: Be Excited about the rise, be wary about the scams, and loss (Read 749 times)