Topic: Bitcoin and Ponzi Schemes - People are confused. - page 4. (Read 785 times)
Well done, mate. It is really crazy how these misinformed people are directly using bitcoin during scams. This is one of the reasons why I don't talk too much about crypto to my friends and relatives. Some of them thought bitcoin is an investment platform that provides regular returns. I don't want to waste my time arguing with them. I even heard some people talking about how unsecured bitcoin investments are after the closure of FTX. Well, then I cannot wait for the next bull run and ignore them when some of them start talking to me again about bitcoin.
Most people that are aged still believe that bitcoin is a ponzi scheme, the only people that truly understand what bitcoin is all about are the youth. Bitcoin is just a currency and it can be used for anything, they same way bitcoin is been used as payment method for ponzi scheme, fiat is also used as payment method for ponzi scheme, some ponzi schemes that crashed in the past always request that people should make deposit into there account by making transfer from there bank account. I believe any illegal activities bitcoin is used for, fiat is also used for it.
But the elders can't be blamed, because they don't know anything about bitcoin, what they know is that through government media channels are spreading fake news about bitcoin. This is clearly the government's fault because they don't want people to use and stay away from bitcoin.
Yes, it is crazy how people can twist the truth just to put the blame on something they do not fully understand. I mean, sure, there are some sketchy companies or individuals out there that use Bitcoin to scam people, but that is not Bitcoin's fault! It is just like how some people use cash to do illegal things - that does not mean cash itself is bad. I am guessing whoever was spreading that message did not really know what Bitcoin is all about and just assumed it was some kind of Ponzi scheme or something. Smh.
I think part of the problem is that there is still a lot of confusion and misinformation out there about what Bitcoin is and how it works. Plus, it is a pretty new and complex technology, so it is not surprising that some folks are hesitant or skeptical. But the more people learn and educate themselves, the better off we will all be.
I think part of the problem is that there is still a lot of confusion and misinformation out there about what Bitcoin is and how it works. Plus, it is a pretty new and complex technology, so it is not surprising that some folks are hesitant or skeptical. But the more people learn and educate themselves, the better off we will all be.
These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.
Funny how people distort the truth just to blame bad things to Bitcoin. It was obvious that they are talking about scam companies that exploit people using Bitcoin as a trap. It is a good thing that you are able to correct the message. I bet the person who deliver the explanation and message has a concept of Bitcoin being ponzi scheme which is not true.
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
It is very important because these people are distorting facts making people believe that Bitcoin is the one that made those people lost a lot of money. Those people who have no knowledge about Bitcoin that hear that statement will have an impression that Bitcoin is a scam.
Though, I wonder what was the reaction of the person when you corrected his statement.
Most people that are aged still believe that bitcoin is a ponzi scheme, the only people that truly understand what bitcoin is all about are the youth. Bitcoin is just a currency and it can be used for anything, they same way bitcoin is been used as payment method for ponzi scheme, fiat is also used as payment method for ponzi scheme, some ponzi schemes that crashed in the past always request that people should make deposit into there account by making transfer from there bank account. I believe any illegal activities bitcoin is used for, fiat is also used for it.
Because most of the newspaper companies just show news about the failure happened in the name of bitcoin. It is possible to see such news in places were bitcoin have gained interest. This is where common people easily misunderstand bitcoin. Something like onecoin is much into discussion and finally the person behind the scheme was found dead. This is one of the news that I read in a newspaper. Already I knew about it,but the person who doesn't have any idea regarding it will fix bitcoin as a ponzi in his/her mind. 
Most people that are aged still believe that bitcoin is a ponzi scheme, the only people that truly understand what bitcoin is all about are the youth. Bitcoin is just a currency and it can be used for anything, they same way bitcoin is been used as payment method for ponzi scheme, fiat is also used as payment method for ponzi scheme, some ponzi schemes that crashed in the past always request that people should make deposit into there account by making transfer from there bank account. I believe any illegal activities bitcoin is used for, fiat is also used for it.
Even though we do try to act and fight conditions like this, of course this will not be easy, it is even likely to fail.
The reason is actually simple because fraudsters like this always see ordinary people who are in bitcoin only looking at the profit side and of course beginners who buy bitcoin always use all means to get instant profits so they are easily trapped.
I personally for now just always take care of the people closest to me in this case so they don't get entangled because we also can't hold back the flow like this.
The reason is actually simple because fraudsters like this always see ordinary people who are in bitcoin only looking at the profit side and of course beginners who buy bitcoin always use all means to get instant profits so they are easily trapped.
I personally for now just always take care of the people closest to me in this case so they don't get entangled because we also can't hold back the flow like this.
that is true, we can only protect people that are near or known to us because we can explain to them clearly what's going on. btc itself is not a ponzi scheme, it is the people who are using it to scam other people. thus, some noncrypto users have the notion that BTC itself is a fraud because of these scammers.
education is the key to learn what's the real deal in this market. however, not many people are willing to educate themselves to understand what's really going on. hence, the bad notion of the btc and crypto in general.
Learning is a very important key, but the problem is that there are lots of people who don't think about this because greed and expecting instant profits has always been one of their goals which makes it easy for fraudsters to carry out their actions.
I started this thread with a clear purpose, which is to highlight the fact that Ponzi schemes found Bitcoin and now they are using Bitcoin as a payment option to run this. They used Fiat currencies and the Banking system before, but now they found a pseudo anonymous method to run these criminal activities.
The people who fall for these Ponzi schemes, burn their fingers and a lot of them do not understand that they were part of a Ponzi scheme.... they think this Ponzi scheme is what Bitcoin is. So they tell everyone around them that they lost money on "Bitcoin"...which is not true.
Do you think people who lost money in previous Ponzi schemes, blamed "cash" or their "Credit or debit card" that they used to make payments to those Ponzi schemes? We should educate the public on what Ponzi schemes are ...and what Bitcoin is... and that Bitcoin payments to Ponzi schemes are the same as any other payment option that are used to pay these criminals.
The people who fall for these Ponzi schemes, burn their fingers and a lot of them do not understand that they were part of a Ponzi scheme.... they think this Ponzi scheme is what Bitcoin is. So they tell everyone around them that they lost money on "Bitcoin"...which is not true.
Do you think people who lost money in previous Ponzi schemes, blamed "cash" or their "Credit or debit card" that they used to make payments to those Ponzi schemes? We should educate the public on what Ponzi schemes are ...and what Bitcoin is... and that Bitcoin payments to Ponzi schemes are the same as any other payment option that are used to pay these criminals.
Those people need to change their perspective on bitcoin, where Ponzi schemes and Bitcoin are different things.
What if the Ponzi scheme uses payment using Paypal? Are they also going to blame Paypal for tricking them?
It doesn't make sense because they think that bitcoin is included in the Ponzi scheme even though bitcoin is independent and not connected by any program.
It would be better if they could check the Ponzi scheme program before they sign up so they know full well that the Ponzi scheme will not give them any advantage.
What if the Ponzi scheme uses payment using Paypal? Are they also going to blame Paypal for tricking them?
It doesn't make sense because they think that bitcoin is included in the Ponzi scheme even though bitcoin is independent and not connected by any program.
It would be better if they could check the Ponzi scheme program before they sign up so they know full well that the Ponzi scheme will not give them any advantage.
OP says he watched it on a popular show which means it was allowed by the authorities, and they are deliberately smearing bitcoin and spreading it to keep people away from bitcoin. The people who made that program are not mistaken, but they did this on purpose because there is no way to get people to stop looking for bitcoins, so they came up with this dirty trick.
Just as some governments say that bitcoin is a vehicle for criminals to use, but before bitcoin, criminals have also used fiat for illegal activities. But the government has never said that fiat is abetting criminals.
Those people need to change their perspective on bitcoin, where Ponzi schemes and Bitcoin are different things.
What if the Ponzi scheme uses payment using Paypal? Are they also going to blame Paypal for tricking them?
It doesn't make sense because they think that bitcoin is included in the Ponzi scheme even though bitcoin is independent and not connected by any program.
It would be better if they could check the Ponzi scheme program before they sign up so they know full well that the Ponzi scheme will not give them any advantage.
What if the Ponzi scheme uses payment using Paypal? Are they also going to blame Paypal for tricking them?
It doesn't make sense because they think that bitcoin is included in the Ponzi scheme even though bitcoin is independent and not connected by any program.
It would be better if they could check the Ponzi scheme program before they sign up so they know full well that the Ponzi scheme will not give them any advantage.
I watch a popular breakfast show every morning and they always have a section where they talk about money matters. Yesterday, they talked about Crypto currencies and the guest mentioned several Ponzi schemes where Bitcoin was used as a payment option.
These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
Yeah, You’re really right. Most persons believe Bitcoin is associated with fraudulent activities. The other day I had a conversation with my little sister and her friends specifically about trading in the foreign exchange market with Bitcoin, then one of the girls said “but I thought Bitcoin was some fraud and internet scam stuff”. Right there, I knew she must have heard it somewhere and this girl here isn’t a minor.
Just imagine the number of persons who think Bitcoin is associated with fraud, I believe they are a lot cause coming across platforms and shows where people call it scam daily will wire their minds to think it’s not. I was able to teach my sister and her friends what Bitcoin really is. And I encouraged them to go ahead and teach other people that Bitcoin isn’t a scam or Ponzi scheme but a mode of transaction anytime issues like this are raised.
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
You're right. People are using Bitcoin as a tool to scam their victims but the information spreading is Bitcoin itself is a scam which is wrong. This also happened here few years ago, a couple scam their many victims using ponzi scheme then they use Bitcoin as payment system to receive the money of the investors then they runaway with the money. The news are pointing Bitcoin as scam and not clarifying that Bitcoin is just a virtual currency and just use as tool.This kind of misinformation can discourage people to engage themselves in Bitcoin thinking it's a scam. If you have no knowledge about it then you'll be convince that it's really the case. Hence, we need to do something to make it right through our own little way to help spread the truth behind this situation especially about Bitcoin.
This is how the people into the ponzi schemes fool the common people who doesn't have much idea on what they're doing. They join the schemes on someone's introduction and further they work to continue the chain. What happens in the mean time, someone in the higher position mention that the money is lost and it is the mistake with bitcoin. Poor people believe it and they never raise questions, and the same is being used as an advantage. What OP have done is appreciable and a must thing to make people understand the truth about bitcoin.
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The truth about this issue is that people will continue to lose money to the Ponzi scheme and pyramid scheme because they always form a new strategy to lure their victims. Besides, this is a scheme that has been happening before I join cryptocurrency and I am also one of the victims of it when I was still a newbie.
What we can do is try as much as possible to make people know that Bitcoin or crypto is not the enemy but the abuser of the believed technology is the major enemy.
What we can do is try as much as possible to make people know that Bitcoin or crypto is not the enemy but the abuser of the believed technology is the major enemy.
...
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
I find it too impulsive for people to claim that investing in BTC is the same as investing in Ponzi. It is like you are saying that investment in general is a scam since you use money as the currency for it.
I guess this is one of those instances where these kind of people bring down the image of BTC. Given their current status celebrities, their influence extends to people who are also not familiar with BTC, thus ultimately discouraging them to even attempt to try it.
I am curious, however, is there some institution that can sue for defamation. Better, is it possible to sue for defamation given the public outburst they made in spreading false information about it?
If we don't want to be associated with these scams, we should be the first ones to call them out and warn the others. The introduction to Bitcoin should start with "crypto is full of scams but Bitcoin is the only good coin", instead of "blockchain is the future, crypto to the moon!". Your case shows that scams and shitcoins can very easily give negative reputation to Bitcoin, and it can be very hard to convince people once the first impression is made.
Even though we do try to act and fight conditions like this, of course this will not be easy, it is even likely to fail.
The reason is actually simple because fraudsters like this always see ordinary people who are in bitcoin only looking at the profit side and of course beginners who buy bitcoin always use all means to get instant profits so they are easily trapped.
I personally for now just always take care of the people closest to me in this case so they don't get entangled because we also can't hold back the flow like this.
The reason is actually simple because fraudsters like this always see ordinary people who are in bitcoin only looking at the profit side and of course beginners who buy bitcoin always use all means to get instant profits so they are easily trapped.
I personally for now just always take care of the people closest to me in this case so they don't get entangled because we also can't hold back the flow like this.
that is true, we can only protect people that are near or known to us because we can explain to them clearly what's going on. btc itself is not a ponzi scheme, it is the people who are using it to scam other people. thus, some noncrypto users have the notion that BTC itself is a fraud because of these scammers.
education is the key to learn what's the real deal in this market. however, not many people are willing to educate themselves to understand what's really going on. hence, the bad notion of the btc and crypto in general.
Even though we do try to act and fight conditions like this, of course this will not be easy, it is even likely to fail.
The reason is actually simple because fraudsters like this always see ordinary people who are in bitcoin only looking at the profit side and of course beginners who buy bitcoin always use all means to get instant profits so they are easily trapped.
I personally for now just always take care of the people closest to me in this case so they don't get entangled because we also can't hold back the flow like this.
The reason is actually simple because fraudsters like this always see ordinary people who are in bitcoin only looking at the profit side and of course beginners who buy bitcoin always use all means to get instant profits so they are easily trapped.
I personally for now just always take care of the people closest to me in this case so they don't get entangled because we also can't hold back the flow like this.
It is such a sad statement, and yet it is believed by so many people. If you think that some people need to buy, in order for others to sell and make profit, hence it is a ponzi, that is literally how stock market or gold market or even oil futures work, someone buys them. The simplest is stocks, if nobody buys any stock, the stock market would crash and burn, so everyone needs to buy some stocks to keep the stock market going. Same logic with bitcoin, of course we need people to keep buying in order to keep it alive, but why would that be any different than the stock market?
I watch a popular breakfast show every morning and they always have a section where they talk about money matters. Yesterday, they talked about Crypto currencies and the guest mentioned several Ponzi schemes where Bitcoin was used as a payment option.
These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
This is either an attempt to misinform the public, and they already knew what you said to them or this is simply about people focusing on the wrong thing when making their judgments, but whatever the case this will keep happening, so making an effort to correct people when they make this kind of mistake is the right thing to do, but at the same time if you make an effort to do this over and over again you will eventually get tired of it since the misconceptions about bitcoin abound on the internet. These Ponzi schemes collapsed and according to him ....many people lost money in Bitcoin. They have a WhatsApp group for the program and I immediately corrected that statement, because people did not lose money in Bitcoin.... they lost money in a Ponzi scheme that used Bitcoin as a payment option.
Now, this does not sound very important, but it actually are one of the most critical things that needs to be addressed. We should counter all of these misinformed people, with education on what Bitcoin is, because they lose money on Ponzi schemes and then they blame it on Bitcoin.
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