Bitcoin and Ponzi Schemes - People are confused. - page 6.

posi

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Quote from: Kakmakr on March 09, 2023, 12:38:57 AM

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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 tried teaching about bitcoin to some people before, but they also thought I was scamming them, so I stopped teaching people about bitcoin, and I really don't care what other people think about bitcoin. Understanding bitcoin is their right and interest but they refuse, there is no reason for us to waste time with them. I will focus on my investment, that is what I will prove to them whether bitcoin is a ponzi or not. Explaining won't be as effective as showing them the results.

Pokapoka124

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Scammers also use fiat as a payment option. Kidnappers and terrorist demand wire transfers to offshore accounts and in some cases physical cash. This has been the modus operandi for many years, I’m yet to hear the media condemn fiat or someone in big media say “oh if it weren’t for the banks and fiat all these crimes wouldn’t be happening.“ That would be dumb, wouldn’t it?

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in my country, cases like this are very much. they only know that bitcoin is forex trading or gambling. they don't even look into it and then assume that something is wrong. it may indeed seem trivial. however, for people like me, it's annoying. in fact, they always think that increasing money with bitcoin requires a lot of money, and what's more disturbing is, so many people get scammed from sites that promise very large percentages of profits within 1 month, and the payment uses bitcoin. they always blame bitcoin for the scam. however, education is indeed very important to make people understand bitcoin. however, people sometimes put up something bad and associate it with bitcoin, like that tv show.

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Quote from: Kakmakr on March 09, 2023, 12:38:57 AM

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.

Unlike what other people say about this topic as been unimportant. I see it as a topic that is very important. This is because when scammers comes up with method of scamming people they use bitcoin as a payment method and some of those people that are scammed are newcomers into this cryptocurrency or even the Ponzi scheme. So when they make payments with bitcoin, they know nothing about it and they will assume they have invested in Bitcoin not knowing that they sent it to the scammers in the end of the day. They will say that bitcoin is a scam not knowing that it is a method they used to make the payment.

slaman29

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I sort of agree that we shouldn't focus on Bitcoin as a ponzi schemes as it had nothing to do with Bitcoin itself other than the fact that it was used as a payment method.

However, I do agree that people should be more aware when schemes are asking for weird ways to invest. Why not actual fiat?

Then explain, Bitcoin doesn't make you rich. Nothing does. So if people are using the name Bitcoin in their scheme to get rich, it's most likely a scheme. This I can agree with.

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Quote from: dzungmobile on March 09, 2023, 01:13:07 AM

Simple!

Tell them that the first Ponzi appeared from 1869 to 1872. [1]

That means Ponzi scheme was born about 2 centuries ago and Bitcoin is not responsible for that as it was born in 2009. Beyond Bitcoin, scammers apply Ponzi scheme by many other things: banks, stocks, hedge funds, supplementary medicine supplies etc.

[1] https://en.wikipedia.org/wiki/Ponzi_scheme

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.

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Quote from: mk4 on March 09, 2023, 12:43:36 AM

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.

Simple!

Tell them that the first Ponzi appeared from 1869 to 1872. [1]

That means Ponzi scheme was born about 2 centuries ago and Bitcoin is not responsible for that as it was born in 2009. Beyond Bitcoin, scammers apply Ponzi scheme by many other things: banks, stocks, hedge funds, supplementary medicine supplies etc.

[1] https://en.wikipedia.org/wiki/Ponzi_scheme

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Quote from: Kakmakr on March 09, 2023, 12:38:57 AM

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'm one of the senior advocate of this because most times I blame my late adoption of Bitcoin on Ponzi scheme and I really regret it so hard so at every instance I get to educate people about Bitcoin I do and I also make it very clear to them that Bitcoin isn't a get rich scheme just as Ponzi schemes posses as, hence Bitcoin isn't Ponzi.

On the other hand, many persons are truly misinformed, even some persons over here as may think there is anything like free money and many think Bitcoin is free and the forum with its name as Bitcointalk, should be an earn ground for Bitcoin without any effort and at the end get so disappointed and in some cases abandon their accounts.

Quote from: mk4 on March 09, 2023, 12:43:36 AM

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.

Yeah it's not easy preaching Bitcoin to people especially in a country like mine where people think you might have some personal interest before trying to get them into Bitcoin and at the end, I feel so bad about it.

One of the best way to draw attention of people into crypto is to live a life worth asking how you made it.

Plaguedeath

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So you watch it on the television where all of the contents are controlled and need permissions from the government, since Bitcoin is a currency where they can't control it, that's why they're give a misleading contents to many people. I think they're completely know what is Bitcoin and can find a difference between Bitcoin and ponzi scheme, but they just want to stir other people mind to hate and stay away against Bitcoin.

mk4

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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.

Kakmakr

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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.

Topic: Bitcoin and Ponzi Schemes - People are confused. - page 6. (Read 768 times)