Topic: Bitcoin a medium scammers use (Read 198 times)

There has always been scammers and con artists. And there will always be gullible people. Bitcoin didn't really increase or reduce the crime rate. Fiat is no better, government have been fighting money laundering, ponzi schemes, hyips for years. It's not fair to now blame it all on bitcoin.
As for people getting scammed in the crypto space, that's just something we have to deal with. There is a certain amount of conflict that is needed to bring legitimacy to your belief. There is need for such conflict so that we grow, so that we are humble. I have seen people come out of a scam/ failed project and become better.

Bitcoin was introduced in 2009 and before then we've had thousands of scam cases from 60s 70s 80s 90s that the fund transactions was never traced till date. Bitcoin or fiat you are like to get scammed if your throats is too long.

If you get scammed from another country through fiat your government cannot protect you. Bitcoin or fiat your own safety depends on you.

Do you think money isn't used for fraudulent too?

Bitcoin is possible has been used different types of fraudulent because scammers will always be seeking a way that they don't trace by the authorities.
Well I guess, some of them aren't being traced but I saw some cases that authorities have been seized millions of dollars in bitcoin and I think not all of them successfully use bitcoin in a fraudulent way.

There are various of currency online that can be used in scammer not only bitcoin.

The problem is in those crooks who wanted to use anything to execute their evil plan whether it's called bitcoin or fiat. sometimes it comes in the form of fake gold bars and much other propaganda that they want to use as a tool for their scams. this is why whatever those thieves do, one should know when they are going to get such kind of good to be true offers or promises from the scammers. because it is the same with any other scam method, once they give you an offer, it's always good to be true.

Thank you, you got that out right. Its a jet or digital age and we've seen scams assume several forms over the years, the once that suits more appropriately to there purpose while rendering concern to a potential victims ignorance. I bet you you, there are more people that uses bitcoin or transacts in bitcoin legit than the few fraudulent onces. Scams assumed more traditional forms and still do. Every available medium of payment is exploited in this regard. Its only left for individuals to be more conversant on a medium of payment in use and have a high level of trust in the platform or individual being transacted with and thats where the issue always comes. Scammers play around with your trust very much.

Local banks or transacting in fiat might seem a lot safer because, a wrong transaction can be reversed when appropriate but, thats only when there is an embargo on the account from appropriate authority and with the account holders consent and an agreement is met.
This isn't the case of bitcoin, an address might be known, the block for which the transaction belongs, all that are traceable but then, the individual holder of such address is most likely not to be known except in a case where a non custodial wallet address is in use. In the case of non custodial wallet, the company might just have a data base that traces back to the user. Especially if the company conducts kyc. Sadly, its outrightly against company policing most cases to compromise someone's identity. Crypto operates on an anonymous field and as such, being smart and knowledgeable is very much required and an added advantage

That's wrong on so many levels...

I can assure you that there are a lot more scammers that use other tools for such activities.
^{- BTCitcoin is just the center of attention [media] at the moment.}

Are you implying that you're often in contact with scammers?

It's not just them, most governments try their best to capitalize on it.

Bitcoin transactions can not protect those guys if they don't use Coin Join transactions and Tor connections in the right way.

Monero transactions can be better to help them but why do you make accusations on Bitcoin when it touched the all time high days ago?

Bad people will try many tools, services, cryptocurrencies to do their money launderings and bitcoin is not responsible for those activities. Fiat can be used for the same purproses so do accuse any national central banks because of fiat launderings?

Its sad it has to be that way.... 
But we also have some problems with real cash, and no matter what kind of currency we use, there wil always be scammers.


A lot of websites accept bitcoin and i also accept bitcoin at my little shop basisit.dk. because of the low % of tax.  If I accept VISA or other credit cars the tax is so high.
It think that bitcoins and other crypto valuta is the future, but we need to have some central regulations to control the monryflow

It's not the scammers that are necessarily affecting the image and reputation of bitcoin. Why? Scammers also use fiat money; but do the masses think that the scammers affect the reputation of fiat money? Not necessarily. It's mostly the people's wrong impressions that Bitcoin is still what it was in the earlier days, whereas it's pretty much mostly just used on darknet markets; which today, it's obviously mostly not.

First, I would like to understand how do you rank scammers by size? What does average size mean?
It can also be said that bitcoin is not an anonymous coin today. Bitcoin is at the center of the world of finance today. The more its popularity grows, the more Bitcoin attracts the attention of regulators. Transactions can be tracked with sufficient accuracy. Criminals are now using Monero very actively, and bitcoin is, fortunately, losing popularity among them.
But as for, as you write, "medium-sized" scammers, that is, those who are aimed at deceiving an ordinary user, then the entire responsibility lies with the user himself. We must understand that there has been, is, and will be fraud on the Internet. Knowing computer security and being careful about trusting strangers should be a priority. No one can deceive you if, when making a deal, you have a sound mind and an assessment of the risks.

BTC isn't to be blame for this, Fiat is also in the same shoe here, any means of payment either new or old will always be used by evil and heartless people, if I have to say a word about this scam of a thing it would be about the victims themselves, they should stop sending money to strangers, they should stop buying BTC, Gift cards and others, they need to wake the hell up

It is so sad that these scammers are destroying the image and reputation of bitcoin in many aspects.

People are scared to invest on bitcoin because of scammers, investors are for sure scared to invest their money on to something that is always put into a scam.

We can't really stop scammers or criminals from doing this because this is their best way to earn money, to fool people.

I'm so disappointed that there are people who will take advantage of something which is really good for the economy.

That's correct. There is no point denying this. If you become an unfortunate victim of a Bitcoin scam and you send your funds to someone you do not know, it is next to impossible to get a refund. Although it is not impossible to trace the address to the actual scammer, when involving small amounts, it is most likely that it won't be given enough attention by the authorities. As such, you should therefore be very cautious in dealing with an irreversible currency.

But when it comes to scam, all currencies are involved. It is not just Bitcoin. Even gold and other precious metals are involved, but fiat more than any other.

Just a quick reminder that Bitcoin, just like your beloved USD, is a tool, and every single tool in existence can also be used for nefarious and fraudulent purposes; it's just that it's sort of 'good' uses totally outweighs the negative.

I would say it's not only in Bitcoin but there are several ways how the scam happens and of course, this kind of transaction offer trust to one another and guts(sometimes it's effective to have guts). Now there is a reason why Bitcoin is made it that way, so if you found yourself trying to send some Bitcoin to someone, make sure you know them very well and they are a reputable person. Which means they cannot scam you all of a sudden.

A good research and a knowledge of how things work when doing any transactions may it fiat or cryptocurrency is your only weapon to not easily become a victim of a fraud/scam.

I don't understand the logic you're bringing. Of course bitcoin is an irreversible payment method and you've got to make sure that the service has been rendered or made before you pay or it depends to your agreement. That's an easy thing to fix if you're going for a transaction that's going to be paid with bitcoin. Bitcoin is no longer the same as before where the misconception that it's only good for dark/deep transactions. It's on the mainstream now and institutions have invested a lot of money on it.

How about this, fiat a medium scammers use? Is that not correct? It is correct. To help yourself, know all ways scammers can use to scam people. Anything valuable and that can be easily exchanged to fiat can be a medium of payment to hackers. The good I saw about bitcoin is that it is going to 10 trillion worth of marketcap one day. Learn how to hold and how to make sure scammers do not scam you because bitcoin still have a greater future.

That is the reason while before involving in any transactions we have to understand the rudiment of anything we want to adventure into, but its quit understanding that bitcoin is not a successful way to scam, because bitcoin is traceable irrespective how you transact, except its a process whereby someone you scammed is not interested to trace the scammer, but op, don't think that you can scam with bitcoin and go free, just have it back of your mind.

I view this in many ways than one, a scam is very likely to take place  if there is  ignorance, greed, no research, complacency, blind optimisms/Fate. Scammers has no preference of payment, they can even offer their prospective victims as much payment as possible so long payment are made,

Don't mis-concept it, scam is available to every potential form of payment, I am and you should too, be more concerned in avoiding/exposing scams and ways of scam. And for -Newbies- you likely not to get scammed of you learn, ask questions, research-well, mature your sentiment, no-greed.

Since bitcoin uses wallet that are not traceable back to the owners, a lot of scammers have decided to use bitcoin as a medium to carry out their fraudulent acts. Most scammers believed once you pay them and they don't carry out the services they are paid for,there is no way they can be traced back for them to offer a refund of payment... What do you think