Bitcoin is for scammers, yea right! - page 10.

CryptoBry

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Quote from: Kakmakr on May 07, 2019, 02:09:19 AM

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry. Wink

I read somewhere of a report stating that according to facts, a great majority of all the scams perpetrated every year is done using the fiat money and only a certain percentage is done using Bitcoin or cryptocurrency. This is just the case of sensationalization since Bitcoin is relatively new unlike the fiat money which has had been here for centuries. Once a country is adopting its own regulations on cryptocurrency, scams can be investigated, traced and have the perpetrators punished.

Leonardo7

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The regulated financial system like the bank has the highest volume of use case by scammers. A scammer may even think his client would suspect them if they are asked to send cash with a cryptocurrency, and they think about the process of getting it to cash and their client understanding of crypto. They will have to stick to their traditional money system.

LUCKMCFLY

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Quote from: Kakmakr on May 07, 2019, 02:09:19 AM

We regularly read FUD articles in the popular media about Bitcoin being used in scams and that it is a perfect tool for scammers to hide their activities and the movie industry already labelled Bitcoin as the Internet of Money for the DarkNet. Roll Eyes

I am currently watching a series called, "Undercover: Nailing the Fraudsters" and most of the scams featured there are done within a regulated environment. Boiler room scammers are not requesting payment in Crypto currencies to hide their activities, they get the victims to deposit money via their Bank accounts into their Bank accounts. Roll Eyes

In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It usually refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements or committing outright stock fraud. - Source : https://en.wikipedia.org/wiki/Boiler_room_(business)

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry. Wink

You're quite right, and this is mostly incredible, but even by CNN News, in the economics part, when they talked about cryptocurrencies and bitcoin, they gave them bad references, like they're not backed up, they do not have any kind of stability, and that's why it was not safe to invest there.

And the films that encourage that, they just show that part, maybe they send a message from FUD so that people sell their cryptoactives much cheaper than normal and benefit those who actually know the potential and what it represents in development for the market.

In the traditional economy is where most major scams are generated and have, but try to apaciaguarlo with FUD to cryptocurrencies, however, people are waking up every day of that nightmare that they have when thinking that this technology is only applicable to the bad, they have not realized that there are more good things that can be achieved than bad ones.

Ronaldcoin2017

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Well i think bitcoin is not for scammer, but yhe scammer really wanted to use it because they see that the bitcoin is becoming more stronger in terms of gaining or investing, so maybe they found out that many people is a supporter of bitcoin so they maybe used bitcoin so that they can easily find a victim to make an easy money. Bitcoin is for all and we are all welcome to used bitcoin for good.

hatshepsut93

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Scamming in Bitcoin and mainstream ecosystems are different, and they shouldn't be so directly compared, because the answer to "what is better for scammers" is not so simple. Fiat is used by everyone, while Bitcoin is only by very few, so those who target huge amounts of people, like spammers and callers would obviously go with fiat. But Bitcoin's features like pseudonimity, irreversible transactions, lack of regulations in its ecosystem do make it easier for scammers - ICO's are probably the best example of it, but there's also a plenty of exit scams. But this all might be not exclusive to Bitcoin and crypto, it might be a part of larger problem with Internet economy.

rachellee

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If bitcoin is basically for scam, then even fiat. From petty pickpocketing to huge corruption, fiat has always been the subject of these crimes. I just wanted to point out that bitcoin, just like fiat, gun, knife and any other object that could be a tool in crime, is neutral. Its good and bad depends on who uses it. Bitcoin is designed to transform our economic landscape, freeing us from the third-party intervention. Scammers just take advantage of its privacy.

Indrawan77

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Its funny to see this kind of things, when fiat being used for scamming nobody shout fiat as scamming tools, but when somebody do a little crime with bitcoin suddenly its being label as scamming tool, I think this is some kind of attempt from certain party to weakened the crypto usage and development

spydee1522

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bitcoin is for scammers, hhahahhahhaaha Huh

, since when and I didn't know as a minister of bitcoin affairs. bitcoin is now widely accepted and use as a means of buying airplane tickets, cinema tickets and various bank transactions at a fast rate. people read articles and others from poor sites and start saying their mind without any proper research on what they are talk about.

traderethereum

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Quote from: samcrypto on May 07, 2019, 07:49:23 PM

Quote from: Adriano2010 on May 07, 2019, 06:06:02 PM

Some people i think start to spread FUD either because their against all crypto or either want to spread FUD and after maybe someone will start sell their coins and they can buy cheap coins.

There are so busy to spread shitnews, they really tried their best to make the price cheaper well its goind to happen if they have more holdings than the good whales. Spreading FUD is very common in the market especially with bicoin, the price can really hurt because of that so try to ride with it or counter that FUD news with a great positive news.

I guess they have their own purpose of doing that because they don't want to see bitcoin reach the famous among the people.
Or they are too late to join the bitcoin party, so they use many things to say bitcoin is not good for others.
What I believe is no matter how hard they are trying to spread bad news about bitcoin, bitcoin will be strong and will increase higher.
They could only watch for bitcoin without any chance to join in the bitcoin world because they are too late to realize that bitcoin is a new way to help them to make money.

samcrypto

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Quote from: Adriano2010 on May 07, 2019, 06:06:02 PM

Some people i think start to spread FUD either because their against all crypto or either want to spread FUD and after maybe someone will start sell their coins and they can buy cheap coins.

There are so busy to spread shitnews, they really tried their best to make the price cheaper well its goind to happen if they have more holdings than the good whales. Spreading FUD is very common in the market especially with bicoin, the price can really hurt because of that so try to ride with it or counter that FUD news with a great positive news.

minersday

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Excuse me to say, only dumb people thinks Bitcoin is for scammers. In as much that the transactions of Bitcoin made of its blockchain network is quite private and anonymous, it is quite easy to track down transactions made and know the current destination of the sent Bitcoin on the Blockchain network. Since transactions are public and easily traced, there is no way scammers can be tracked on the network. Its high time people clear the old fashion mentality implanted in their minds and try to gain knowledge of Bitcoin and cryptocurrencies and how relevant they are to our current financial ecosystem. People should embrace the technology and try to understand the differences this technology can introduced to the entire world.

Pagri

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It is understandable that the financial authorities make every effort to "demonstrate" that the use of cryptocurrencies is characteristic of criminals and fraudsters. It is a way of preparing the environment against bitcoin, and predisposes people to take a negative stance against everything that involves the use of cryptocurrencies.

And although it is true that until now the vast majority of illicit activities continue to be done using the formal financial system and fiat money, many people do not seem to understand that and still have many prejudices against the cryptos.

Whaleagent

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This is how to media works, they always prefer to promote negative news than positive. I heard this about BTC / Crypto from long time ago, the fact is that it's a complete BS. Soon they will join the revolution too.

MakeMoneyBtc

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Even though 99.99% of the people agree with something there is going to be that very small percent that doesn't agree with it and that's happening absolutely everytime, doesn't matter what we are talking about. There will always be bad news about bitcoin, people tried to convince others that bitcoin and crypto is bad but we all know the real value of bitcoin and we should not pay attention to this kind of news anymore.

uneng

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Although rules and regulations are useful to raise the safety in our societies, I can't deny there are some "regulated scams". I know some phone companies use very shady methods to earn money: they call a person every day, even if the person isn't interested on the service.
They use robots to make the calls and these robots ask questions maliciously, to force the person to accept a service and spend money. And it's a shame this kind of service is fine to operate in the country. The truth is that bitcoin is much more ethical than these regulated services, even not being regulated.

Adriano2010

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Some people i think start to spread FUD either because their against all crypto or either want to spread FUD and after maybe someone will start sell their coins and they can buy cheap coins.

proTECH77

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Quote from: Genemind on May 07, 2019, 02:40:41 AM

Cryptocurrency's image is being scratched by scammers who use Bitcoin in their own ways. Even people who don't have enough knowledge about Bitcoin mostly the elderly people always define it as a scam. Being Scammed or using it in an illegal way isn't Bitcoin's fault because it has its own function and it works in a great way yet some users use it in a negative way.

I strongly believe that becasue, Bitcoin is been used by people called scammers, the people now called it scam. Sometime ago, my Dad asked me about Bitcoin and i proudly explained all need to explained to an elderly person, but he asked me a question, why is Bitcoin volatile?, i gave him the reply and he concluded by saying, it is a scam becasue, if one invest on it; there's no possibility of it yielding profits, then i said, on a long term profits are guarantee.

sunsilk

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I guess I'm lucky to don't have that kind of argument, the people whom I talked to about bitcoin weren't highlighting this topic but they can't move on about bitcoin's bear market. All eyes are still on 2017 ATH and they can't even recover although we already had.

Quote from: sehoon on May 07, 2019, 09:57:13 AM

Bitcoin is for scammers and like fiat money, it can also be used in different scams. For example, is the Ponzi scheme or different networking companies. Especially here in the Philippines, there are a lot. Bitcoin and fiat money can be used in illegal activities but it doesn't mean that it is bad. It will depend on the owner of these currencies whether they will use it for good or bad.

This is another perfect example, people look at bitcoin this way because those networking companies are highlighting bitcoin. They are using the 2017's greatness to attract more investors that they can scam. In the latter, when they are about to collapse most of the investors will blame bitcoin and will have that kind of label instead of blaming themselves and the scam company.

mk4

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Quote from: De4ted on May 07, 2019, 04:40:09 AM

Quote from: Kakmakr on May 07, 2019, 02:09:19 AM

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry. Wink

The irony will kick their ass. Cheesy

It totally baffles me how no one I personally know actually knows about what shady stuff some banks worldwide are doing. They mostly see banks as these very lawful and very legal entities that doesn't commit fraud whatsoever just because they're banks. They get surprised when I tell them what kind of fraudulent activities some banks in the United States are committing.

sehoon

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Bitcoin is for scammers and like fiat money, it can also be used in different scams. For example, is the Ponzi scheme or different networking companies. Especially here in the Philippines, there are a lot. Bitcoin and fiat money can be used in illegal activities but it doesn't mean that it is bad. It will depend on the owner of these currencies whether they will use it for good or bad.

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