Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.
That's one good example, many warning about it that Bitconnect will going to scam in the end, but greedy making people blind about it realize and they fall much into scamming product. We can't blame about how crypto works, but greedy will forget about do not invest on what you can't afford to lose. 
Topic: Cryptocurrency Scammers Are Making Fortunes By Ripping Off 'Greedy' Investors - page 2. (Read 548 times)
April 17, 2018, 05:15:17 AM
April 17, 2018, 05:08:01 AM
People start hearing of profits in crypto, then go and invest their money with little to none understanding of what they are investing in. Then blame crypto as whole for their own bad decisions.
April 17, 2018, 05:00:54 AM
If someone want to scam people,he will initiate their greedy from their mind by showing high returns so we need to be careful on what we are investing.Nowadays the cryotocurrency field is filled with lot of scammers because it is an anonymous market so this may decrease the growth rate of cryotocurrency adoption so people need to stay away from scammers mainly from scam ICOs.
This is a fact that everyone in this world wants to become rich and desires are the weakest point of any human. This is where scammers strike. Now the next part is, every one also likes to get big profits with as little work as possible. Scammers give an opportunity to earn large amounts of money with very less efforts. Ultimately, it turns out to be a trap. The safest is to go with trustworthy coins and ICOs.
April 16, 2018, 04:12:24 AM
First off OP, hacks aren't the same as scams. Investors are usually not to blame in the former. By the way what is your defining term for greed as in "greedy" investors. Will you consider someone who loses a few dollar here and there in crypto investments via unsuspecting scammy ICOs as greedy? I guess not?
I look at the proposed terms and plans and all I can say is !@#$%. Double the money within a short time frame, wtf!
I bet such Bitcoin doubling promising schemes were prevalent during the awakening months of bitcoin. I am not sure anyone falls for that anymore. April 16, 2018, 02:47:15 AM
That's why we need to regulate ICO and not just ban it.Regulation will filter the project to be suitable to release in the internet,so that scam project will be reduced.For investor,it's better to know what you're doing and research thoroughly before you invest in some project.
April 16, 2018, 02:46:36 AM
The thing is that a lot of people are attracted to Crypto currencies, because it is known for the incredible volatility in the price. If you invested in January of 2017 and you sold in December 2017, you would have made +/- 800% profit in less than 1 year. So the type of investor that are being attracted to Bitcoin is those investors that are used to the high volatility and the big gains.
This is where it gets tricky, because they had a taste of high returns and then it fuels the greed and this blinds them from the high returns that are promised by these scams.
This is where it gets tricky, because they had a taste of high returns and then it fuels the greed and this blinds them from the high returns that are promised by these scams.
April 16, 2018, 02:18:13 AM
Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.
Those who are victim of scammers are also contributer of their loss. They allowed themself to manipulate by scammers. Being greedy will only lead problem in our lives. And it is very impossible to be a millionnare in just a week , month or year. It takes 5 to 10 years or more with hard work.
April 16, 2018, 02:07:42 AM
April 16, 2018, 01:21:20 AM
Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.
Quite understanding about bitconnect being a ponzi which was glaring and staring in the face but what of some ico coins with promises to be listed in the big and popular exchanges who never fulfils that, are the investors also greedy? I don't agree that it is greed that makes investors to be scammed in some cases.
April 14, 2018, 11:46:54 AM
Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.
Quite understanding about bitconnect being a ponzi which was glaring and staring in the face but what of some ico coins with promises to be listed in the big and popular exchanges who never fulfils that, are the investors also greedy? I don't agree that it is greed that makes investors to be scammed in some cases.
April 14, 2018, 10:51:50 AM
LONDON — Investors have lost $670 million of cryptocurrencies in hacks and scams over the last three months, according to data shared with Business Insider.
Only 670$ millions this year?
I thought that only the damage from Bitconnect and the top ICOs that went missing would topple that.
And there are the news from Vietnam with two huge scams, Philippine with a few tens of millions...
I guess we're pretty lucky greedy people are not that wealthy or we could count money lost in the scams in tens of billions.
The downside is that now scammers have enough money to star far more elaborate ICOs that would attract more people.
With a few millions you could buy enough advertising to fool an entire country.
Probably outdated, bitcnnected itself had about 3 Billion dollars market cap at the time it fell down, I know that market cap doesn't mean net worth, but I believe that the net worth was about 1B$ at that time.
I believe that this amount doesn't include ICOs that never came out with a product, even after the deadlines, and it doesn't indicate coins that went down to almost zero after the ICO because the development team left the project after they received the money, which is totally equal to " scam ".
My bet on the actual money invested in ICO vs market cap ratio is about 1:10 at most. Don't ask for how I've come on that number, it's just ..my hunch.
I am sure the ones that read the article didn't even bother to investigate small ICO that never got off like the hundred we have around here on Bitcointalk and went after the big whales only.
Just the last week we had quite the storm about BitBlissCoin, that managed to get only a few thousands dollars before they were exposed.
Of course it was a total scam, and the numbers of victims around here is getting low, just as the sums but there are still people who think that the best investing strategy is to throw a constant sum of money, let's say 100$ to each ICO they stumble upon.
So if they get scammed in 20 but one if them gets them a 50:1 return they are happy.I'm still puzzled about this and I can;t believe how many are still doing it.
It would be fun to try and find out how much money have been raised in ICOs alone on bitcointalk but that is a Sisyphean task.
I would bet on a few tens of millions but...god knows.
April 14, 2018, 08:54:24 AM
Scammers always use human weaknesses for their scams. Greed is one of the greatest weaknesses. She often turns her mind off. Even if a person is smart. But I don't feel sorry for these people. They chose their own path. All who do not want to work but want to have a lot of money waiting for such a final. They are always the main contenders to become the victim of scams.
Its really one of our worst enemies, when greed sets in, we forgot everything and our judgement are clouded specially if you hear like 10%-30% returns in short amount of time. I guess 90% of us here have been scammed one time or another. But its how we get up and tell ourselves that we will not be scammed again. Its really a painful and expensive lesson, but I guess we need to go that path to at least open our eyes that we shouldn't be greedy because it will really bring problems for us in the future, specially in this industry. Yes, they might have chosen their part, but at least they should learn from their mistakes and hope that they wouldn't easily believed those sweet talkers whose goal is to take the money of unsuspecting victims.
April 14, 2018, 08:51:18 AM
Such fraud does not only happen in digital currency (cryptocurrency) like bitcoin but also occurs in fiat currency. It is wise to use money in investing and always be careful to ensure that where we invest is really safe and reliable especially crypto very vulnerable to a hacking. Scammers and hackers are common enemies for both crypto investors and fiat currency investors
April 14, 2018, 06:55:26 AM
Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.
I think everyone believes they'll get out in time, when dealing with obvious scams like bitconnect. They don't realise just how quickly these scams can collapse under their own weight.
April 14, 2018, 06:31:00 AM
I'm any emerging market that has yet to be regulated I think it's inevitable these scams pop up I think it's about the transition into a mature market that needs to be the focus. By doing that better regulation will enter and there will be some sort of oversight of the market keeping scammers in check. But yes it does all boil down to greed. There is no other reason to take that risk
April 14, 2018, 06:23:31 AM
Scammers always use human weaknesses for their scams. Greed is one of the greatest weaknesses. She often turns her mind off. Even if a person is smart. But I don't feel sorry for these people. They chose their own path. All who do not want to work but want to have a lot of money waiting for such a final. They are always the main contenders to become the victim of scams.
April 14, 2018, 06:07:39 AM
There's an addition to that sum for an almost $19M.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
On the good part those freaking scammers end their fortune days as they are rubbing the railings of the jail, those two criminal couples deserve to bring all the money back from the investors as the authorities find out that the wallet used to store the scammed money was all gone now hoping that all the scammers out there will get what they deserve for fooling and stealing other people's money cause not all of the investors on this schemes got their rightful justice, there is a saying that people perish because they lack knowledge. Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
April 14, 2018, 02:53:38 AM
LONDON — Investors have lost $670 million of cryptocurrencies in hacks and scams over the last three months, according to data shared with Business Insider.
Only 670$ millions this year?
I thought that only the damage from Bitconnect and the top ICOs that went missing would topple that.
And there are the news from Vietnam with two huge scams, Philippine with a few tens of millions...
I guess we're pretty lucky greedy people are not that wealthy or we could count money lost in the scams in tens of billions.
The downside is that now scammers have enough money to star far more elaborate ICOs that would attract more people.
With a few millions you could buy enough advertising to fool an entire country.
Probably outdated, bitcnnected itself had about 3 Billion dollars market cap at the time it fell down, I know that market cap doesn't mean net worth, but I believe that the net worth was about 1B$ at that time.
I believe that this amount doesn't include ICOs that never came out with a product, even after the deadlines, and it doesn't indicate coins that went down to almost zero after the ICO because the development team left the project after they received the money, which is totally equal to " scam ".
April 14, 2018, 12:56:49 AM
Greed may be one of the causes of harm that can be felt by some people who get fraud committed by greedy people. and this will definitely have an impact on reducing the level of confidence in crypto. and of course this will be very harmful to anyone who really wants to increase the existence of crypto seriously without any engineering done just to get a big profit.
April 14, 2018, 12:25:52 AM
If someone want to scam people,he will initiate their greedy from their mind by showing high returns so we need to be careful on what we are investing.Nowadays the cryotocurrency field is filled with lot of scammers because it is an anonymous market so this may decrease the growth rate of cryotocurrency adoption so people need to stay away from scammers mainly from scam ICOs.
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