Topic: Crypto Scammers put bad impact to Our Government about Bitcoin Transections. (Read 565 times)

Well, for all the crypto haters such negative news about Bitcoin is what they will want to push in the mainstream media just to continue to discredit Cryptocurrencies. There are more scams perpetrated every day through Fiat monies and those might sound normal now and might not even make it to the media but this is what crypto have to deal with and I don't see it as stopping cryptocurrency though. 

This is the sad truth about the government and ever since I learn about their selfish activities when I'm young, I have to make a decision never to join politics or totally trust the government because all their foundation is built upon liars and when I learn to understand the purpose of Bitcoin I see it as the call to real democracy.

They just see Bitcoin as a threat because it brings people together without boundary, give them the necessary liberation and financial freedom but they don't like the fact that is not controlled by them.

Yes, the El Salvador government did well when they legalized Bitcoin but that's not the belief of the people who are not a crypto enthusiast and if you follow the El Salvador news you'll see that the President face a lot of challenges even within his cabinet.

It must be admitted that there are quite a lot of scams in the crypto world, but that doesn't mean Bitcoin is to blame. Because if we compare fairly
between fiat and Bitcoin, of course more criminals are using fiat to carry out illegal activities. But surprisingly the government has never blamed fiat,
in this case the government has not been fair to Bitcoin. Maybe the government was disturbed by the presence of Bitcoin from the start, so if there is
illegal activity using Bitcoin, be the reason for the government to ban Bitcoin. Fortunately, not all countries have governments like that.
What the government of El Salvador is doing is extraordinary and should be followed by many countries in the world. I think Bitcoin should be legalized
and become an alternative payment. It will make human life much better, can even help improve the country's economy.

I remembered news of someone in my city who hacked Bitcoin from a company abroad and steal that Bitcoin for several years. And after he was arrested, it seems super wow and surprised, he is the rich man in the city, well known, moreover with what he has. And after being known as a hacker or thief of Bitcoin, hie is likely over.
And at that time, the news really made the condition very tough, surprising, and people are curious about what Bitcoin is, And consider about crypto is something that is dangerous and easily hacked. Again, more bad news will lead people and the government to think negatively of Bitcoin and other cryptocurrencies.

but fortunately right now, the news is balanced between the bad and good news. And epole are smarter to cosndier and udnerstand which is better and which is not.

No need to worry because there are thieves, robbers, and cheaters in every department of life. These people are in all societies and countries. You or Govt cannot free any country or land from these cheaters. Evils and vices are traveled since the beginning of the world. We cannot eliminate evil or satan because these are due to the command of God. So the presence of scammers in bitcoin is not to worry but We can pray That Allah guides them to the right path.

Yes, this type of issue makes the government and the people have a negative impression about Bitcoin but can we put the blame on Bitcoin or other innocent users? Be the creation of Bitcoin online theft have been scamming people through different means and if someone scammed people through the use of Bitcoin of that doesn't give any government/individual/organization right to ban or paint Bitcoin red (give bad name) since they never did that to fiat currency ever since the existence of online theft.

This kind of criminal really makes the crypto world worse again in the view of common people. We know that sometimes, many people that are still new and do not know about crypto will always see crypto from the negative side. And this is one of the conditions that strengthen them to avoid crypto.
But, scammers are always scammers. They will never stop. what we must do is by being very careful and more careful in every transaction.

Scammers are everywhere. I don't know why people seem to exaggerate stories about scamming when they hear crypto currencies are involved. I mean they start acting like scams like those would not have happened if crypto currencies didn't exist. People scam using fiat money too. In fact, I think most of the scams are done using fiat currency.
I guess the police were able to get to that scammer because he used crypto currencies (his transactions became traceable). If he has used fiat, he probably would have escaped without any issue.

Does the market had shown it?
Instead, crypto like Bitcoin give a positive impact on the economic growth of the country and lessens the number of jobless individuals. The government couldn't stop these scammers, they might use crypto as their advantage because of the anonymity feature it has but this never says that crypto is a bad thing at all.

Fiat, crypto, and etc... can be a medium of their devil intentions and no matter how the government will take action with this, they will still find a way to make it.

Crypto scammers is indeed very disturbing and detrimental to many people. even so I don't think it's a big reason why the government can ban crypto because besides that there are many other scams even bigger than crypto scams. but with this crypto scam, many people will be afraid to join the crypto world, especially for ordinary people. so be smart in choosing and be careful with scammers who will harm us. Don't be easily provoked by tempting seductions and be more careful in managing your own assets.

Scammers will always find a way how to screw other people, whether fiat or crypto.
But one thing that the government is hesitant of is the decentralized nature of it.
With this nature, they can't get a hold of the full picture of what's happening in this system, thus, receiving hesitations from their end.
And now, these scammers are finding this a very good option, whether to launder money or scam other people, because they can transact fast and anonymously.

All the cons that we do able to see are really on crypto but we cant really just ignore on whats its cons because the demand justifies itself on how good and beneficial it is on some aspects.

One of the main reasons on why government do hate up bitcoin or crypto is just because of being decentralized and thats totally opposing on what they do like which it is normal for them to
have that kind of impression.

Scammers been using that characteristic for their own advantage which do really sucks and one of its cons.

For me, i don't think the government cares about these scamming incidents as their minds are always closed when it comes to crypto. Even if bitcoin creates a good impact through those people who really know its value, i don't think they will consider it. They are only focused with their centralized fiat and how they can take advantage on it.

However, crypto like bitcoin has even become more famous today as its adoption continues to increase and its price will keep rising as its demand is becoming huge. So even if without government's approval, the rise of bitcoin has now become more inevitable.

You can't tell that because despite all these negative and abusive use of crypto (like scamming and fraudulent activities) still it gains more attention than before. A lot of rich people and businessmen are investing in it now because of its popularity and market profit. And besides, these scammers and cheaters had already been existing before crypto and never have to blame crypto for why they come.

Although this could create some doubts and uncertainty in the community, however, for the risk-takers and techy people, it was just fine as they know how to avoid them. We don't need the government to have an interest, only we need them to understand and give support.

that might not  be the reason why governments aren't showing interest in crypto , well  scams are not new and there are way many scams in normal fiats published by the country ,
we cannot say that a currency is bad just because a scammer used  it to scam someone
there are more reasons like the decentralized nature or the fluctuating value but no this for a government to fear crypto or to avoid it .

It is true that there are criminals out there taking advantage of the decentralized nature of cryptocurrencies to commit their crimes but all of this act that governments are putting forward in which they supposedly care about all of this is nothing but a lie.

What really bothers the governments is that they have held a monopoly when it comes to printing money for centuries, and now for the first time they have to complete against a coin not printed by them and they are losing so badly that some of them like the government of China are banning all cryptocurrency transactions, and even then that is not going to be enough to stop or even slowdown this market.

It's definitely makes sense that when crypto is involved in scamming, the whole government thinks that crypto will never be a good currency. But when fiat is involved, i guess most of the scams it is, still it will never be ban because its totally backed by them. Its like a one sided story and ends up putting crypto the guilty one. For me, even if bitcoin will not be used in scamming, as long as it remained to be decentralized, the government will always have an eye on it, and will never be adopted in the first place.

I don’t think that excuse is good enough, to me that’s a worthless excuse, like seriously. If they are worried that criminals are using cryptocurrency, why don’t they look for a way to protect people and prevent criminals from making use of crypto currency than using it as an excuse?

There are lots of big scammers and criminals that are being caught around the world and for the majority of them, you wouldn’t hear that any of them are making use of cryptocurrency, they carry out their activities by making use of Fiat and banks. Despite that the government regulates banks, they still hardly detect these guys. So, it is not like cryptocurrency is the worst please. They are just being funny.

One of the reason why acceptance of every country in the world to cryptocurrency platform were difficult is because of these scammers or even any crime that uses crypto as a way to deceive people. Crypto platform is such a great help not only for investors but also in the economy of a country but like what have had happened even crypto are not safe for those criminals that has been used in their crime activities like fiats. I think those criminals are most likely wanted to use crypto in their bad doings is because of being untraceable of the transactions in crypto platform.

Crypto can be both an advantage and a disadvantage. one of the downsides is crypto scammers as said. There are many scams here with various models and we should be able to avoid them. actually if we are more careful then we can avoid it but sometimes the scammers are smarter than that so they do various ways to cheat. maybe in some countries the existence of scammers makes crypto a bad thing, but if we look further beside that crypto brings a lot of changes and also profits at the same time.

Everyday we have so many frauds in financial system backed by fiat currencies, does that mean fiat is creating bad name in the minds of people or governments? Everything is like a double edge sword, it has both good and bad uses. Its up to us how we see and use that particular thing. Fiat and crypto are both same when it comes to there good and bad usages.

No, you should not draw conclusions like that. Maybe media coverage leads people to think negatively about Crypto. The one who committed the crime was the culprit, not Crypto. Would someone blame Fiat currency if there was a corruption case?

Sometimes, it makes me wonder how ironic it is. As long as its still a publicity, it will certainly call out the interest of the people to know it more better. And yes, Bitcoin has been involved in numerous scamming that makes the government more pessimistic about it. But i know the real reason why they keep on banning bitcoin is to protect their fiat. Bitcoin has already created a borderless transactions in most of the countries even with restrictions along, so how much more if bitcoin will be accepted by the government by then? Probably that will be the time wherein fiat will start to lose its value because more and more people are starting to find convenience in bitcoin from an investment down to a legal currency.

I guess the bottom line here if the government of your country is really doubtful in crypto, bitcoin will surely never gain acceptance. And those crimes involving bitcoin indirectly are not the main reasons really, although they may contribute a little. This happens not just in a single country but to all countries who are up to the present opposing bitcoin's legalization.

However, i must say that its not bitcoin who is being used in most of the crimes but its connected mostly to fiat. And yet, the government is not making any restrictions from using fiat. So its always clear that the government is one sided and they should always in favor in things that they can take full control of.

That's what the issue is! Both with the scammers and with the beaurocrats as well.  With cryptocurrency, scammers have got a way to siphon out money and the beaurocrats think the main problem is with the cryptocurrency rather than the scammer.

It's same story in every third world country. Even in India, our finance minister thinks that cryptocurrency is the main problem and not the scammers. That's why educated youths of the third world countries, always think of moving out to a better place to live. I am no exception.

that is not the expert scammer because he don't know how to handle the funds from His scam activities lol.
imagine buying BMW upront ? that is not a good idea lol.

lol it is become more popular because of this kind of issue because Good or Bad publicity is still a publicity and this only helps increasing the search for Bitcoin .

We must understand that if there is illegal activity related to Bitcoin, the government will view Bitcoin even more negatively. This does seem unfair,
because so many illegal activities also use fiat. But because Bitcoin is still relatively new, then a government that doesn't really understand the crypto
world will see Bitcoin worse than fiat. But as time goes on, governments will slowly begin to understand that Bitcoin is not as bad as they think.
Therefore, those of us who support Bitcoin must always be optimistic,  because the rapid development of Bitcoin indicates that the future of Bitcoin
will be bright.

The reputation of crypto has been tainted because of these scenarios. It's just so saddening that people use this to do illegal activities instead of using it rightfully. Crypto has been the saving grace of some of us. It paved way to earning more income and profit whatever your social status is. Unfortunately, there are just abusers of the system built for decentralization who paint bitcoin and other coins on a bad light.

Despite this, it isn't enough to put the blame on crypto because it is only a tool just like with fiat. There are criminal activities recorded with fiat and crypto. The people who are using it to do things prohibited by the law are the problem. Also, i would just like to add that government's reason for not recognizing crypto isn't really focused on the scam, but because of its nature. Crypto is decentralized and and cannot be controlled not manipulated by anyone unlike fiat. Hence, government does not want any of it unless they benefit from it such as taxing it and regulating it.

I guess that was only an isolated incident, and part of the problem in the society it's not portrayed Bitcoin as a dangerous asset because scammers are using everything that has value, and they don't care about it whether its gold, fiat, and even cryptocurrency so Bitcoin was not spare on any scamming activity all that has a value is prone to any form of scamming abuse.

The problem is not only your own thinking, but I know that they should be allowed to happen because this field is still new to the majority and not everywhere has legislation to support these activities. But anyway, let's be optimistic because in the future we will have a new financial system and crypto is showing many advantages.

In fact, this problem is also felt by other countries, where the government cannot control bitcoin because of its decentralized nature, in fact the statement made by China is not only this time, because previously they have also made fud on bitcoin after 2017

You are correct which is why governments hate cash as well, it is kind of odd as they are the ones that print the cash but they do not like it, if it was up to them they would have forced people to go digital and eliminate cash completely, not because they want to eliminate crimes but because they want to know exactly how much money you are making and how much of it they can take on taxes.

So when we look at things from this perspective it is obvious that governments are using this excuse to not reveal their real reasons to not want to adopt cryptocurrencies, which at the end boil down to not wanting to lose the control of the economy it has took them decades to get.

Unfortunately that’s not the reason. The main one is that they can’t control Bitcoin transactions as it is decentralized. The government and banks wants control and centralization, but they can’t do it with Bitcoin because it has no central authority. This is why China outright banned BTC and crypto-related activities in their country because of claiming that it is a threat to their monetary system and the digital yuan.

I think if a forum of random people from around the world can figure out that criminals don't care about mode of transactions, governments too can come to that same conclusion.

Someone being a scammer or criminal has nothing to do with the method they use to move proceeds of crime. Yet, it can definitely be said that the anonymity afforded by crypto and the easy hype that is created due to its novelty, is something that attracts scammers like flies to honey. These people know that it is very easy to find greedy, gullible people looking to make money. The complexity also makes it easier to perform attacks and confuse the victim.

The answer is for people to become aware of scams and be mindful of their security. If anything, the governments should be working on educating people about privacy and security in a world that is starting to become more and more online.

Isn't the "real" untraceable crime money cash? For decades, cash was used for crime and money laundering and every illegal activity. I agree that crypto is not the reason for the unwillingness of governments towards crypto. It is the governments' need to control and know every detail about financial transactions. Crypto is threatening this, so they don't want it. Which makes it hard to create borderless, digital cash with fair remittances and easy use.

Well it is becoming old for us because we know exactly what is going on and we do not buy the narrative the governments and the media are trying to create, but for regular people out there they see that and they get worried about being mixed in with that crowd and delay or even decide against investing in cryptocurrencies, which is by the way exactly what the governments want.

Governments are desperately trying to find a way to deal with this threat, do they ban it, regulate it, make it seem as if they adopted it while releasing their own coins, or a combination of those options? And in order for them to figure out this out they need time and the best way to buy that time is to spread misinformation about the dangers of cryptocurrencies.

The platform shouldn't be blame because of the crime and fraud happened because even in fiat currency scams and fraud are widely practiced. I think the government are putting the blame on bitcoin or in cryptocurrency because they can't control it. Government has no control over cryptocurrency because of being decentralized of the platform and untraceable transactions. On the other hand because of being untraceable of the transactions in digital platform makes it also hard to make action once we made transaction that wasn't receive by our account.

I always wonder why is the government putting all the blame on bitcoin? When its very clear that bitcoin is only used as a tool for scamming, and it should be the persons involved in it directly should be given sanction. Is it really the scamming case? Or maybe the government hated bitcoin even before because it cannot be fully controlled by them, and its usage starting to conquer all over the world.

However, there are some governments who are now legalizing and accepting bitcoin as a reserve currency and this has been possible because of some government officials who are more open minded on bitcoin and its blockchain.

We need to understand that everything in this world if the scammers wanted to use it to fool the people to steal their money, they can use it with a little trick they have in their mind which is sometimes for the other ignorant people who don't have any idea on what's really going on. Even the dead can make it seems alive whenever they will execute their planted script that will make them seem legit when they talked. People should know that bitcoins have nothing to do with this kind of people, it's just the only use as an instrument like how they used some old stories to attract people to invest in their so-called innovative investment method (Ponzi Scheme) which turned to be scammed in the future.

So sad to hear that. This good invention become very bad in government eyes. This technology can help many people life especially in term of economic matters. I hope there are no scammers in cryptocurrency world so the adoption can be faster. But I still optimistic that at the end government will tend to accept bitcoin and legalize it

how many politicians in your country are stealing government money? are very! and are using cryptocurrencies? no! they are using fiat

How many people from the drug world are selling drugs in your country? are using cryptocurrencies? no! they are using fiat

how many people are kidnapped in your country? are many, and are they asking for ransom in cryptocurrencies? no! they are asking on fiat

good for those who can detect the flow of money if it really belongs to someone else. and regarding this in crypto, it seems that the government must have known because bitcoin ownership is not completely safe because there are many possible results of money laundering. crime or other. news like this in my opinion will not have a significant impact. crime doesn't just happen in crypto. even in conventional payments is still a lot going on.

This may not really aplies to the reasons why Cryptocurrency is places on a ban hold by some countries, although i gree with how digital businesses have been misunderstood by many for scamming, but i think some countries are having related issues with Cryptocurrency due to its decentralization and non Government regulated entity. They believe everything to be under their auspices whereas crypto is a game changer of it all.

You summed up very nicely. Frauds and scams are there for centuries and still going on with fiat? Does that mean fiat is creating bad impact on government? Absolutely not.
Fiat and crypto both have double edges and can be used for both good and bad. The primary reason of government rivalry with BTC is that they can control it.

That’s undoubtedly the sad truth.
Scammers always try to take the advantage of things like this.
And yes due to these the government is declaring as BTC as a mode of scamming.
Now who can stop this? It’s only us. If we become careful and avoid scammers, then these cases will be reduced significantly.
At last hope that someday BTC will be declared as legalised.

This is actually not the fault of crypto, but this kind of scamming system already exists even in daily life with fiat.
It is about scams, not being aware of someone to be more and more careful when doing transactions will only offer high risks. Moreover, it is about big money, how can it be just that kind of carelessness?
This kind of incident, although the mistakes of the people, will influence other people to think again that crypto is bad because of the scams. Whereas fiat is also sued for scamming people more than Bitcoin. This is not fair actually, but news can spread this bad news all day long very easily

As a wise government, don't just look at the negative side of scammers who have succeeded in committing fraud so that they can buy luxury cars. But it is also seen from the negative side of cryptocurrencies that crypto has a future that is also supported by Blockchain technology.
All types of investment platforms other than crypto have the same risk, both have scammers in it. A scammer can be interpreted as a virus that must be destroyed and maintained so as not to be exposed to the virus again.
In some developing or developed countries crypto has been recognized and adopted so that cryptocurrency is not only used as a tool of crime, but has benefits for the future.

The narrative that bitcoin is bad just because some bad apples are using it for their own personal gains is becoming old. It is not because a few scammers are using bitcoin that's why they are not into it, it's that they can't control it on their own. Fiat currency is still the currency of choice for scammers and fraudsters all over the world. No one is getting mad about that bit since fiat can easily be controlled by the government. If they don't hold the reins on fiat, see them get mad about it once a 'scam' surfaces and the said currency is involved.

You are not wrong since your logic is sound, blaming the tool for what happened is a flawed argument, however we know that governments do not care about right and wrong, they care about what benefits them and what it does not.

When people commit crimes with their fiat currencies at some level the governments care but at another level they do not as they know they have complete control over their currency, however when it comes to bitcoin they know this control does not exist so when they see something like this they quickly accuse bitcoin of enabling criminals, when it is obvious the vast majority of the financial crimes around the world are committed with fiat currencies.

That’s what a lot of people think that is making the government not to accept cryptocurrency, but I don’t think this is true. If it has to do with scam, then this is not an excuse because cryptocurrency is not the only thing that is being used for scamming people. Majority of the scammers make use of Fiat, and they never get caught by banks or the government. So, it doesn’t have to do with scamming at all.

Although I do understand that crypto currency is a type of currency that keeps its users private, but even at that it can still be traced. Some research even shows that you can easily be traced more than when making use of Fiat for such activities, so scammers tend to go for Fiat instead of crypto currency. Maybe why the government is not supporting cryptocurrency is because they can't control it.

I disagree with the fact that scammers have ruined the name or popularity of Bitcoin, with more influencers/celebrities like Elon Musk, MrBeast, and some Hollywood celebrities that are supporting/investing in BTC, scammers are just there to ruin the name of Bitcoin, but the amount of people that actually supports BTC are more than these scammers that are throwing dirt in its name.

Bitcoin is still on a positive state even if scammers exist, scammers will always be present, whether it be Bitcoin or any other cryptocurrency, so I honestly think that scammers really won't ruin Bitcoin even if they try.

If about government, in my mind what cause they looks like not agree with crypto is because they not want their fiat get disrupted. If about scammers, maybe it will affect on what people see about crypto itself. Especially if news mostly show people about bad things that happen, i mean there are not much success people who viraled by news, usually viraled by crypto community itself. That is why sometimes people think crypto is bad thing that be used by people to scam others. Because they only know it from outside and from less sources.

I am curious how that guy can scamming in crypto because if that guy has crypto, let say bitcoin, and he can transfer bitcoin to the other wallet. That can be bad news for crypto being used for scamming but I guess that crypto will still be popular and will be more popular in the future. I think your government investigate that case and will research crypto and if they see the benefit of crypto, they will showing interest in crypto. Hopefully, the government can solve the case as soon as possible and the government can know that the crypto is not just an illegal way but can also be used for legal things.

Same in my country, Crypto is being used by some people to fraudulently appropriate other people's assets. This affects the reputation of bitcoin and crypto,because most of the people who get scammed in these scams don't really understand what bitcoin is, they only know that bitcoin investment to bring profit. But that is no reason for the government to put pressure on the market. The government is clearly looking to get rid of crypto because they cannot control it and to the detriment of the monetary system they are behind.

People in your country can buy a BMW by using cryptocurrencies?That sounds great.
There will be always people who try to abuse the system for personal benefit.It doesn't matter if the payment system is crypto or fiat.I guess that there must have been a human factor inside the payment system,that's why the scammer achieved success,but he was caught eventually,which means that scammers aren't safe,despite the fact that they are scamming.
The government doesn't care about crypto transactions.Placing a total ban of crypto means that all the crypto transactions will become illegal,but they will continue to exist,which is worse that allowing crypto payments,but having strict regulations over them.

 

That's the problem with crypto currency because of a bunch of scammer around the internet that who used to scam other people using the advantages of crypto currency especially when it comes bitcoin,, so no wonder why government are still very against and want to shutdown crypto currency,. Actually for me in my personal opinion even in the future it's impossible to implement,  wherein maybe there are some country that will adopt like El Salvador did, but it will never spread because for sure government will set a limitations for it for the safety of other people who don't knows the risk of crypto.

The government should do their jobs too, train personnel that deals with cybercrime and upgrade their equipment to be used for chasing cyber criminals. The government doesn't know any better, they're full of geriatrics that have their heads still in the 70s and still think that television is an advanced technology.

Publicity comes from good or bad mate, let them spread this message to many people so those who had learn this will check and be curious to what is crypto all about and they will end up seeing the opportunity inside the market.
some may get away while some may invest.
and this is not only in your country , because almost in all continent there are similar case though different profile.
Scammers only proves one thing that crypto market is really booming nowadays.

If a scammer buys a car using USD, will anyone in their right mind write a news article "USD used by a scammer" or anything like that? No, they won't, even though dollar is used for tons of illicit activities. So if it's not an argument against fiat currencies, why should it be different with cryptocurrencies? This is plain unfair, and while of course fighting cryptos scams is important, it's also important to fight manipulations that build the narrative of cryptos being bad because criminals use them, as criminals use all sorts of money and it doesn't make us impose some special regulations or associate those kinds of money with crime.

Nowadays, criminal networks around the world use fiat as the main currency, that's why you see so many cases of big banks with conspiracy to launder money. The government doesn't care what crimes are committed using Bitcoin. They don't want to accept Bitcoin. If there's one thing I can tell you, it's that scams and frauds have been in the system even before the advent of cryptocurrencies. So this comes as no surprise to me.

You are clearly a newbie in the crypto world op. Almost every crypto investor is already aware of the fact that the anonymity factor of cryptocurrencies can be taken advantage of in both positive and negative ways.

Cryptocurrencies aren't perfect currencies. Similar logic applies to FIAT currencies too basically. Don't just focus on the negative aspects of cryptocurrencies since there are plenty of positive aspects too.

It could be one of the reasons why the government is against BTC and blockchain technology but the thing is, the government has no authority and control over millions of transactions happening in the blockchain. They're against it from the beginning and looking for ways to regulate it. Moreover, scamming is nothing new in the modern-day what makes it different is the platform that they were using and it depends on the government on how they would handle it.

Its not like fiat money has a shortage of scammers, scamming money laundering or other types of illegal activities have been present since the dawn of civilizations and this won't change with or without bitcoin, its just now scammers are using the anonymity of the transactions thinking that they can hide their tracks, and i think that the media is only talking about the bad usage of bitcoin and never talking about the good ones.

It is wise for swindlers to choose bitcoin as a payment method. Because it greatly increases the difficulty for the government to track funds. But is it bitcoin's fault? If you pay in their country's currency, is it the fault of legal currency?

So you think that crypto is not popular because government think that it's used for scams? That's a very convoluted logic.

If government really believed that crypto encourages scams, they would just ban it. But also you don't need government's blessing to make crypto transactions at least p2p and for small businesses. So if the general population is not viewing crypto negatively, it shouldn't be stopping adoption.

Doesnt really need for you to find out which country because for sure several countries does really have bad impressions or views towards bitcoin due to sole reason of increase in criminality/scam and money laundering.

Is this something surprising or something new? No its not. These are one of the things on why Bitcoin hadnt been considered to be adopted in most countries and most of them are still neutral or still observing.

Lets just accept the fact that crypto market isnt something that cant really be accepted globally or countries would end up on the same decision.

Would you mind sharing about what country it is?

There are too many cases the same as you mentioned but still, cryptocurrencies have become popular.  Cryptocurrencies only a victim here because it's prone to use as a tool by the criminal but do you think this isn't happening to fiat too?  As a matter of fact, fiat is the worst of criminal will use it because there's no tract on the transaction as proof, not unlike crypto or Bitcoin for example there's a tract on the public ledger database.

If people know the real concept of crypto on how to use it as a transaction, they will understand that Bitcoin has been abuse, and good thing most of them have been caught.

It is not complex at all, the kind of crimes the OP is referring to are nothing on the great scheme of things compared to what the banks and governments themselves do all the time, however they use those crimes as a way to scare the people away from this market and to paint all of those that are part of this market as ignorant people at best and scammers at worst.

However people are waking up to this, it is impossible to hide the truth and the inflation we are seeing all over the world is finally affecting the pockets of the people, and if this tendency is maintained it is not going to take long until they begin to look for alternatives, and bitcoin will be there to help them out whenever they are ready to be part of this market.

You should at least put a link here.

That's good that the police was able to apprehended the criminals. Again, it depends on what country you live in, if it's crypto friendly, so for sure governments have send a lot of warnings about this kind of stuff, scammers taking advantage of bitcoin. So it's not bitcoin that is the real problem, but people who blindly trust this scammers. Bitcoin has already been popular, although there are a lot of incidence like this in the past, it didn't stop bitcoin from getting to where we are right now. And this bad news will not stop it for the next 10 years or so. Also, just look at banks though, they have been scamming people for centuries.  

I'm kinda curious about the guy who bought BMW since I haven't had any idea about the whole story, maybe if you put up some links that would help. Since I wonder if the guy you mentioned was scamming or winning some profit or any other way to get the money since Bitcoin is in bull run so I believe it's possible that someone like him found a way to make some money. But if it's a scammer then okay he's a bad guy.

Anyway, you just can't blame the government if they don't want to deal with crypto currency since most of us know that they don't deal with something that they can't control. And having some bad people using the name of crypto for some bad deeds is not enough to point out why the government won't deal with crypto, it's just, they just don't.

What country is that?

There really are scammers everywhere not only in crypto but also in cash or banking transactions. The taboo about crypto is hard to remove if it's already there and widen spread.

It's just a matter of time that many governments will look at the positive nature of adopting crypto.

One of the reasons too on why some government do really have bad views towards crypto due to anonymous and untraceable kind of transactions which scammers could easily steal or scam out others people.

This isnt something similar to fiat which everything could really be traced up into its origin but its good that there are some crypto scammers do really get caught because in the end of the day they would
just simply make out some conversion from crypto to fiat which do really still end up on being known and how much more on buying out something which something unusual for an individual would
really raise up some questions.

The US Dollar has been used for criminal activities for decades such as financing Terrorism, Money Laundering, fraud, Buying illegal arms and drugs and so many other things so why is it that when scammers use Bitcoin to defraud people, Bitcoin all of a sudden is bad.

What about the US dollar, that has been used to do the same for decades? I call it double standards

Thanks for sharing the gist of the story if not the whole story. At least, we know how bitcoin is part of this scheme. People should learn more of the situation to know the real problem here. It is not the bitcoin per se but the person himself. So yes, I don't think it will have an impact to their government's decision with regards to crypto. Because this kind of scammer can also use fiat other than btc.

This is the area we have notice very clearly that government is really again the development of cryptocurrency generally, any country that cryptocurrency is not been legalize should operate in low velocity, because it will get to an extend that when you are investing in cryptocurrency especially bitcoin government will come after you give you or tag you one allegations of fraud, irrespective that some people contributes for giving a bitcoin a negative name by using it to scam people, but in actual sense government is looking for every tendency or means to track bitcoin down which we know that it's not possible for government to suppress any one investing in cryptocurrency (bitcoin)

This is really a old news. And you did not know the exact news and also you are shareing a little wrong information too. Yes that person bought BMW car. But he didn't buy with bitcoin. Because its impossible to buy anything in Bangladesh with direct crypto. He uses cash to buy bitcoin. And his bank account has some suspicious activity of transaction he uses p2p transaction from others countries. And those amount was big. After getting this news BANGLADESH Rapid Force Battalion (RAB) uses their informer to trace about him. Then their mission start. After collecting information about that person the informer inform RAB that that person is doing something illegal work in online. Actually he is a credit card hacker. By using different source he is hacking credit card then he sell those card in dark web and take payment in bitcoin. There bitcoin is no more responsible. Then RAB arrest him and after interrogation RAB says in media that the person who is arrested is not only a hacker. He is also involved in money laundering. He is team up with some other countries hacker and they are working together to hack other people's bank account and credit card then they convert it money. But for this they use bitcoin.  Actually they use bitcoin as a payment system but they are actually involved in hacking and money laundering. RAB clearly mention they use bitcoin as a payment system. But though they can't use bitcoin in our country so they use other system to convert their bitcoin to cash what comes in his account but those big big amount of transaction comes from other countries and we got information and then we arrest him and got all proof.


But i don't think so this news give negative effect to bitcoin because after that some others television and talkshow arranged with Bangladeshi Tech expart, finance minister and tech Minister together and they also say bitcoin is a future currency. We are trying to ignore it but we can't thats why we are thinking about it. Because other countries creat some door for our online legal worker like freelancer a new payment method by approving bitcoin in their country. So we are think it might take little more time but it might be happen.


So for your kind information its a old news. Thank you

Cryptocurrencies especially Bitcoin are being accused a lot of bad money, scammy currency, etc. Those kinds of negative views will always be accused toward cryptocurrencies. While in fact, I'm sure that the benefit that cryptocurrency could offer outweighed the bad. Thus, I believe the latter people know about Bitcoin and comprehend what it is all about, the popularity will be enormous.

Regarding the government point of view, I think that inability to mitigate such crime contributed a lot as a whole that made crypto seen as a bad thing. They didn't have a safety measure or a procedure for the use of cryptocurrencies, initially because of a lack of comprehension about how to at the very least controlling the cryptocurrencies usage within the country. I'm sure the more people dipped in cryptocurrencies, governments will take it to the next level to regulate it.

The car seller wouldnt mind where he gets his money or the government whether he cheats or scam bitcoin investors, but why authorities arrested him is perhaps he is identified and proved him to have scammed. Could you provide us link of this news?

Scammers stained Bitcoin badly but its not the cause why governments are not showing interest. Governments are showing interest actually. Even China is interested, the problem is that regulating Crypto assets is close to impossible.

Maybe in your country but not in the rest of the world, in fact a country already adopts bitcoin, regulates it, have bills/laws regarding crypto in a positive way.

Yes, there are lots of scammers, they exist before fiat is invented, you can't deny it either in crypto or fiat. But what government needs is the knowledge to bring out to public to avoid such schemes and accept crypto for the purpose of remittance, cross-border transfers, and the technology behind it. Scam victims are mostly the one to blame, its because of their greediness having thoughts of getting money/roi in just a couple of time without realizing if its legit or not.

I can assure you, cryptocurrency is getting a lot of popularity with this for sure. Popularity doesn't mean the impact but, awareness and maybe you should look at it that way. Scamers promote it a great deal but then, they do it with negative vibes that could discourage potential investors and have been a major tool to the government against crypto investments.

If there is one thing I could tell you, is that, scamming and fraud has been in the system even before the advent of cryptos.
Do they ever wonder or make the matter so pronounced on fiat as a base for which some fraudster or scammer defrauds or scams someone?

When it comes to fiat, they look at the means but, when it's got to do with cryptocurrency, they look at the crypto as the means!

Hypocrisy in government!

Disagree with the bolded part. Government don't like things that they can't control, or that don't know how to control, at least for now, hence they don't like Bitcoin. What they don't mind though is getting profit from it via taxes.

What I would like to know though is how that scammer bought BMW; using crypto, or fiat money?

That is not why. The criminal networks around the world uses fiat as their primary currency, that is why you see so many incidents of major banks having money laundering schemes slip under their nose.

The government doesn't care what crimes are committed using Bitcoin. They don't want to adopt Bitcoin, period. It threatens their dominance using the fiat for which they have so much control over, why would they let go of it? Trust me, governments are not deterred from adopting Bitcoin because of a few small crimes. You don't see governments shutting down banks for laundering so much money, but the fine that is given is just a slap on the wrist.

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.