Topic: Bitcoin scams and new Bitcoin users - page 6. (Read 2196 times)

It was a common mistake among beginners, joining bitcoin thinking it was just easy, without minding and thinking about the possible scams they can encounter here on the internet, especially those who don't know much about technologies. When I first encounter bitcoin, I am aware of possible scams though not all the time you can guard yourself against scammers. Giving them lessons and knowledge is really the best advice you can give to let them be aware of it.

That's why people should be aware that they need to study the projects before investing, they need to know what they should know in every projects, but many are too greedy and bitcoin been used by scammers, they just might shows some proof that makes the new users intrigue and wanted to join since they show some proof or edited proof. Bitcoinis just used as medium and its hard to eliminate people who only know is to scam others.

After the boom of bitcoin in end of 2017 it caught eyes of general audience and many people who thought it as a great investment opportunity bought bitcoins and this is now continuing more and more people with little technical knowledge joining the bitcoin community it was essential to happen this for bringing bitcoin in mainstream but with that this made this era paradise for scammers every day many scams come into existing now their number are growing faster and they target people with less technical knowledge of bitcoin they are likely easy to get scammed some of common scams the scammer pulls are :

1. Cloud mining scam where they make users to invest in their cloud mining and give them a very small % of their amount daily and also encourage them to bring more members so they can get extra rewarded after a time when deposit amount starts to slow down and withdrawal amount starts to increase then their threshold they simply vanished.
2. Multi level marketing scam this work as from oldest days just invest an amount bring two more make your own tree and earn rewards starting ones in this scams who are able to get many other people always get profited and 99% of members who are in down ranks get scammed they do the same when incoming amounts slow down and outgoing amount reach a certain threshold they simply vanish.
3. The seed hack scammers are approaching people saying we will teach you how to make 100$ in one hour and you need to give it to us most common people don't know about seed and put their btc in online wallet such as coinbase or blockchain so scammer get their screen shared and make them transfer their btc in a wallet such as electrum and got their seeds screenshots open their wallet in their own computer and transfer the amount people had no idea what struck them .
4. Investment scams deposit x amount and get x amount this is the most common type of scams getting all over the internet it is a small amount scam usually people don't mind to fell in it by giving 5-50$ of amount to these scammers .

These are some examples of classic scams affiliated with bitcoin and cryptocurrencies as bitcoin community is in main stream these types of things confuse people by saying bitcoin is a scam and what ever they try to do with it they ended up in the scam. With their less knowledge about bitcoin it is nearly impossible to make them understand that they are victim of classic scams and it is nothing to do with btc but for these scams they cant go any where or report it they feel vulnerable in using cryptos many individuals trys to point out some scams which get into main stream but this thing need to be done as a collective effort. I propose to have a plat form for normal people teaching them basics of bitcoin as a 9 year could understand all this. because community platform like bitcoin talk have a way to much advance topics which confuse or scare the new non technical people .

Remember, there is no instant profit by paying a certain amount of funds, everything needs a process, friend. Avoid immediately if someone offers you profit or investment with the condition of sending certain funds, it's a scam. Of the four types of fraud discussed by the OP, newbies are usually easily attracted to numbers 3 and 4. Most newbies are interested in joining cryptocurrency because getting information that this is very profitable, without learning they just want profit, this is a bad trait, avoid it. The key to success here is that we understand the ecosystem well so we can adapt and avoid predators or risks as best we can.

My co-worker easily fall for that cloud mining scam. She invested minimum amount with their package deal and promised to return daily 2% of her investment. Weeks has passed, they are giving the return 2% at first and then it suddenly shut down.

The point here is that she seeked advices from me and she didn't listened. What we should always do to make sure if the site is really paying or not are,

• feedback of the users,
• search for the team (some are bogus),
• their platform (how can they even pay in return without selling any products or without any trading actions?)

Even before, I always discouraged those obvious scam schemes, pyramid/networking or high pay returns. Be vigilant joining those. Awareness is always the key.

It was a common mistake among beginners, joining bitcoin thinking it was just easy, without minding and thinking about the possible scams they can encounter here on the internet, especially those who don't know much about technologies. When I first encounter bitcoin, I am aware of possible scams though not all the time you can guard yourself against scammers. Giving them lessons and knowledge is really the best advice you can give to let them be aware of it.

if for me, actually bitcoin is not a new user fraud, I think new users before putting money into crypto, it's better to understand the procedure for making money from crypto, so you also don't think that bitcoin is a fraud.

I propose to have a plat form for normal people teaching them basics of bitcoin as a 9 year could understand all this. because community platform like bitcoin talk have a way to much advance topics which confuse or scare the new non technical people .

The more people will trade bitcoin, the more scams will appear.

The more popular bitcoin is, the more scammers there will be, these things accompany each other.

shut up ,stop hijacking others thread stupid.

We can now avoid it because we experienced that already. That is the good thing experiencing something so that we will never regret the things that happen year ago. There will be a lot of scam in this era , but the thing is dont become a fool again so that we will not suffer too much. We should learn from our mistakes and never do it again.