Topic: Bitcoin and Ponzi Schemes - People are confused. - page 5. (Read 724 times)
BTW, you did an excellent job. People who don't really have anything to do with bitcoin might believe it is a Ponzi scheme. Nevertheless, in practice, Bitcoin has only been used as a payment gateway for Ponzi schemes. I have observed numerous fiat Ponzi schemes, yet they are never highlighted. Most claims that Ponzi schemes take place using cryptocurrency payment gateways. Because of this, some people begin to believe that Ponzi schemes embrace Bitcoin. Indeed, the problem is misinformation. When we explain Bitcoin to someone, we should do so clearly.
As noted on the first page, the first known ponzi roughly happened since 1869. But do note that lies or deception are innate within humans, so the mechanism or technique will keep evolving. What concerning, as you say, those people who got scammed are wrongly accused of bitcoin as the root cause. It is potentially bad due to the fact some audiences might perceive bitcoin as a bad thing.
Nevertheless, those kinds of people, the people who blatantly trust media or people who easily get deceived, will always exist. Sometimes, educating them is taxing enough for our time. There is a special kind of people that no matter what fact you mentioned or how you educate them, just did not believe or seemed they couldn't get it right.
Nevertheless, those kinds of people, the people who blatantly trust media or people who easily get deceived, will always exist. Sometimes, educating them is taxing enough for our time. There is a special kind of people that no matter what fact you mentioned or how you educate them, just did not believe or seemed they couldn't get it right.
These are arguments the government also use because they're effective to people that are unable to critically think whenever Bitcoin is used as a scapegoat for criminal matters.
Terrorist organizations, criminals, financial corruption, ponzi's -- They'll point to Bitcoin as the crux of all these issues when Bitcoin isn't particularly relevant. It's a payment medium and can't possibly be held responsible for actions other people take. The vast majority of crimes aren't committed with Bitcoin anyways. When financial crimes are committed with fiat, you'll be hard pressed to find anyone blaming fiat as innately flawed or predisposed for criminal activity. Better yet -- when central banks knowingly or negligently mismanage fiscal matters for enrichment or protection of the government using their own currency, there are no complaints.
Terrorist organizations, criminals, financial corruption, ponzi's -- They'll point to Bitcoin as the crux of all these issues when Bitcoin isn't particularly relevant. It's a payment medium and can't possibly be held responsible for actions other people take. The vast majority of crimes aren't committed with Bitcoin anyways. When financial crimes are committed with fiat, you'll be hard pressed to find anyone blaming fiat as innately flawed or predisposed for criminal activity. Better yet -- when central banks knowingly or negligently mismanage fiscal matters for enrichment or protection of the government using their own currency, there are no complaints.
This topic has probably been written by many people before, and no matter where the discussion goes, Bitcoin will continue to be questionable as they have been for the past 13 years. I don't disprove every Bitcoin Ponzi scheme as "seemingly plausible". I believe in the price line and human greed. More money is being printed over time, and it will flow into hard-to-value things like electric cars, AI, rockets, and cryptocurrencies. No one believes that Bitcoin will increase in price in a few months until they look at the price line in 5 years. Just like no one believed in electric cars until Tesla's stock had gone from a few dollars to $500 in 10 years.
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.
every person listen to people who have most followers (not social media followers) like celebrities, big investors like warren buffeet, etc. if they said that bitcoin is crap than everyone think that it is absolutely crap and then it's impossible to change their mind, also possible in some cases, like in my case i regularly listened to a well known social media influencer one day he talked about bitcoin, that bitcoin have no base it is just an another shitty kind of token,app.
then i listen to him my mind became antibitcoiner i was telling others that crypto and bitcoin are another like ponzi scheme, many people investing in it like dumb to make money.
then after 8months I come across cryptocurrency, that time i was became something kind of thinker who thinks a lot , so i researched about it and today i am here .
what we can do? we can try to educate people who thinks bitcoin is another ponzi scheme.
Props to you for putting up with the bullshit, but I'm personally done with trying to fight these types of cases. Some people simply just don't want their minds changed. I'll just allocate my investments in a way that I can be personally comfortable even if bitcoin doesn't pump in 5 years.
At the same time it is also important to make people understand the truth. It's extremely easy to just look away but that extra effort that OP has put in, is really commendable.
We as a bitcoin enthusiasts, must go ahead and correct others when possible, is very important at this juncture, because bitcoin is getting prominence around the world.
Clap for you OP!
It has always been confusing to those who doesn't know how crypto or Bitcoin really works.
Most of the newbie's that had talked to me thought that Bitcoin was Ponzi scheme investment and asked how much profit am I getting per week or month.
Most of the newbie's that had talked to me thought that Bitcoin was Ponzi scheme investment and asked how much profit am I getting per week or month.
good job OP.
Yeah when it comes to Bitcoin people think any ponzi scheme that happened to use Bitcoin, or any website that got hacked where the hackers happened to steal bitcoin, means bitcoin is a ponzi or bitcoin got hacked. Just huge lack of education on Bitcoin and lots of misinformation purposefully used to try to make Bitcoin look bad because its outside the normal system of things.
Yeah when it comes to Bitcoin people think any ponzi scheme that happened to use Bitcoin, or any website that got hacked where the hackers happened to steal bitcoin, means bitcoin is a ponzi or bitcoin got hacked. Just huge lack of education on Bitcoin and lots of misinformation purposefully used to try to make Bitcoin look bad because its outside the normal system of things.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
It is right what is said by @op because the Ponzi scheme has deceived many people. They don't know that the Ponzi and Bitcoin scheme has nothing to do. That's like the famous MMM program that has made many people lose money through the program.
And unfortunately, they immediately blamed Bitcoin rather than finding out who the owner of the Ponzi scheme was. But even so, people continue to follow other Ponzi schemes in the hope that they can benefit. But strangely, when they can get a profit, they don't mention bitcoin but instead the Ponzi scheme that has helped them get money.
And unfortunately, they immediately blamed Bitcoin rather than finding out who the owner of the Ponzi scheme was. But even so, people continue to follow other Ponzi schemes in the hope that they can benefit. But strangely, when they can get a profit, they don't mention bitcoin but instead the Ponzi scheme that has helped them get money.
Hey mate, nice of you to have put that misconception off and disregarded those false claims, I don't know why gullible individuals blame Bitcoin for everything I was once in a WhatsApp group where we discuss risk management in investment and I discovered most of the members of that group doesn't have basic knowledge of what Bitcoin is, and how to use it as a payment method and what risk to avoid.
Ponzi scheme operators choose to use Bitcoin as payment to cover their track due to bitcoin's decentralized nature, and if those who fall, victim have that same knowledge of the power of decentralization and its usage by everyone so the responsibility is left to the Bitcoin user not to trust any third party with their Bitcoin in the form of investment.
Ponzi scheme operators choose to use Bitcoin as payment to cover their track due to bitcoin's decentralized nature, and if those who fall, victim have that same knowledge of the power of decentralization and its usage by everyone so the responsibility is left to the Bitcoin user not to trust any third party with their Bitcoin in the form of investment.
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.
Misinformation has caused a lot of persons to not invest and be committed to investing in bitcoins, It is their loss because that misinformation will lead to regret if not corrected. I lost some money too to a Ponzi scheme that used bitcoins, and that was my very first exposure to bitcoins. It was not a pleasant period, but because I knew that since there were other Ponzi schemes during that time too that were not using bitcoins, I knew that It was not bitcoins to be blamed, but the Ponzi-scheme itself. Misinformation is even sometimes more better than no information, Instead of accepting wrong information, choose to remain uninformed. There is a lot of information flying around, For whatever information that you need that comes to you, it is your duty to verify.
The media is controlled in two ways, either through investments, and here the influential and financial ones control the media channels and direct them to serve their agenda.
The other way is popular pressure to increase the number of people who ignore these channels and thus lose their importance because the importance of the channel is determined by the number of people who follow it.
Therefore, controlling the media through the first method seems difficult, and therefore you should ignore these channels and teach your friends correct information about Bitcoin and leave them the choice.
With the passage of time and the use of people, we will see the media change 180 degrees.
The other way is popular pressure to increase the number of people who ignore these channels and thus lose their importance because the importance of the channel is determined by the number of people who follow it.
Therefore, controlling the media through the first method seems difficult, and therefore you should ignore these channels and teach your friends correct information about Bitcoin and leave them the choice.
With the passage of time and the use of people, we will see the media change 180 degrees.
I once saw a Tiktok video about discussing the ponzi scheme he said that all crypto was a ponzi scheme including bitcoin I thought this was indeed something wrong when there was a lot of fraud and the payment option using bitcoin or another crypto then people who did not understand would blame this digial crypto asset, obviously they do not have a pretty broad understanding so that blaming that has nothing to do with Bitcoin.
Right, Bitcoin never demands us to be rich in any case but we must realize there is time where Bitcoin can go up and go down due to its volatility, I will still straighten this if someone talks to me, I say Bitcoin is not the same as the scheme Ponzi is a mindset must be changed.
Right, Bitcoin never demands us to be rich in any case but we must realize there is time where Bitcoin can go up and go down due to its volatility, I will still straighten this if someone talks to me, I say Bitcoin is not the same as the scheme Ponzi is a mindset must be changed.
Yet if we look at the same view the fiat and gold currency can also be included in that category, because the problem is not in the currency but in the scheme strategy, Ponzi can be used with anything, why they don't see it and only exclude bitcoin.
Yes maybe this is deliberately to indoctrin the public through TV channels, we are well aware of it wherever they are, especially bankers who are very hate hate Bitcoin.
But it's okay, something like that must be there because people who listen to the fuders today will regret in the future and Bitcoin will be in the heyday one day, with the same sentence so many people (I regret why I refuse Bitcoin and don't know him earlier).
Yes maybe this is deliberately to indoctrin the public through TV channels, we are well aware of it wherever they are, especially bankers who are very hate hate Bitcoin.
But it's okay, something like that must be there because people who listen to the fuders today will regret in the future and Bitcoin will be in the heyday one day, with the same sentence so many people (I regret why I refuse Bitcoin and don't know him earlier).
Quote
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.
Many schemes are running which use stable coin for payment and later these schemes are fraudulent.And there are many schemes that use Bitcoin as payment.Now any project uses any currency, stable currency or Bitcoin as payment,And if it is later found out that the project or scheme was a Ponzi scheme,So it would be wrong to blame Bitcoin for this.Paying into any ponzi scheme by buying bitcoin or any other cryptocurrency from an exchange and later blaming bitcoin would be redundant.I myself have been a victim of such a Ponzi scheme where payment was made in USDT. Later it turned out to be a Ponzi scheme. But the USDT was not to blame,And I never blamed the USDT for that.payment can be made in any form,so it would be wrong to blame the Bitcoin or other currency.
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.
I agree. I believe it is all about understanding. How many times do these same people talk about the Ponzi schemes where people lose their fiat money? When that happens it is about the Ponzi scheme itself and if it happens to involve Bitcoin, it is the fault of 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.
and it is mainly because they are biased in their view with regards to crypto (Bitcoin) in particular and Fiat. 
If it was that simple, then we should already have 80%+ less FUD now. We have rebuttals for the 90%+ of the FUD; it's just that like I said — most people simply don't want to be convinced.
It is simple answer we can tell and all we should do is that.There are two main types of people: first type is very easily to change their minds and they're like open-minded. If we give them solid explanation, they are open-minded enough to listen to what we told them and change their stance.
A second type is like close-minded or narrow-minded, they never want to listen to others especially to opposite stance. For those people, let them be with their original opinion, we can not change it.
I personally think Bitcoin is just like paper currency used as a transaction tool. The scams and fraud that occur in a Ponzi scheme actually have nothing to do with Bitcoin. But as we already know, Cryptocurrencies are anonymous where all forms of transactions are decentralized. I'm currently educating people on how to use Bitcoin or other altcoins properly and how to avoid being scammed by bad people using cryptocurrencies.
True, scams were performed for centuries and crypto is not s course of the problem, just a tool. To be honest, it's hard for me to understand how people fall for those scams, because it's not about crypto knowledge, it's all just about common sense. Someone tells them to send them money and people just do that, like, what the hell.
I personally think Bitcoin is just like paper currency used as a transaction tool. The scams and fraud that occur in a Ponzi scheme actually have nothing to do with Bitcoin. But as we already know, Cryptocurrencies are anonymous where all forms of transactions are decentralized. I'm currently educating people on how to use Bitcoin or other altcoins properly and how to avoid being scammed by bad people using cryptocurrencies.
I did my part on this one whenever a friend or relative of mine start to talk to me about bitcoin, they all have one common description about it and it goes like this, "Isn't it bitcoin is a scam or a ponzi?" Something like that and I end up with a counter quickly that they should add the term "used". Bitcoin is just the medium of these ponzis and scams for them to attract more investors. Just like the typical scam and ponzi that uses fiat, if they have to describe it by how they're describing bitcoin then it should be fiat that's also a scam. And from there, they had a light and understanding of that bitcoin was just used and abused by these cons.
Jump to: