Topic: Do scams harm Bitcoin's reputation in the mainstream world? - page 10. (Read 1887 times)
It affects the reputation of Bitcoin but only for a short while especially there is someone that has been scammed throughout the years using bitcoin, but only a few amount of people I think but that's all of it, there are also huge personality and even applications that tries to wreck the reputation of Bitcoin but there's nothing that happened, but sometimes it affects the market but in the long run Bitcoin's reputation only surged especially now different countries implementing it and different applications integrate it into their system.
In my opinion, scam is very harmful for bitcoin's reputation. Some country is not accepting bitcoin as legal currency for this kind of activities.
Well, this depends actually. In our province, people are saying that it is a scam since they watched news about it while us that actually knows it, it doesn't have an effect. Also, these people don't use them or won't have an interest on using it so it doesn't matter. Other countries have their own reason and it is not the fact that it is related to scam or illegal activities but because they think it might overthrow their fiats or other financial systems.
Of course the recent scams have hurt Bitcoin. Especially regarding the twitter hack problem making the mainstream world
negative view of Bitcoin, this makes Bitcoin's reputation look bad. Therefore, a lot of education and outreach is needed
regarding Bitcoin to the mainstream world, so that people mind is far open and can know the positive side of Bitcoin,
so hopefully it can avoid the scams that happen a lot.
negative view of Bitcoin, this makes Bitcoin's reputation look bad. Therefore, a lot of education and outreach is needed
regarding Bitcoin to the mainstream world, so that people mind is far open and can know the positive side of Bitcoin,
so hopefully it can avoid the scams that happen a lot.
There has been a lot of scams within the crypto space over the course of its lifetime. Most recently, a Twitter hack that took the accounts of prominent figures within the mainstream world, has been all over the news. Mainstream media has been making people believe that Bitcoin is "bad" by tying it to the Twitter hack. While malicious actors demanded to be paid in Bitcoin, it doesn't mean that the cryptocurrency itself is a scam. Unfortunately, many people in the mainstream world have commented about Bitcoin negatively because of the recent hack. Despite these unfortunate series of events, Bitcoin and other cryptocurrencies are experiencing huge gains on the market.
Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?
Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?
I do not think it damages the reputation of Bitcoin, on the contrary, the importance and how valuable it is was demonstrated, many Strong Hands took advantage of that small fundamental to buy cheap Bitcoin for those weak hands that if they sold out of fear, in fact, some time later we saw that the price of Bitcoin went up.
For those who do not know about Bitcoin and have not entered the market and do not know its market, it is obvious that it causes fear, but they fear what they do not know, the same news and the same events that will stand out throughout time will produce more interest in those who distrusted, everything is a matter of patience.
I think it makes people, who otherwise wouldn't be, wary and they may approach it with increased caution. I'd say this is no bad thing. There's plenty of ways to screw up.
On the other hand it also subconsciously tells people it's worth something and therefore worth investigating. No one screws another person for a non existent pay day.
On the other hand it also subconsciously tells people it's worth something and therefore worth investigating. No one screws another person for a non existent pay day.
In my opinion, scam is very harmful for bitcoin's reputation. Some country is not accepting bitcoin as legal currency for this kind of activities.
A bit of old hat to talk about reputation from scams, but just to put this here that Western Union scams are the most common of all money type and yet, does WU care? Absolutely not.
Still one of the most popular means to send money. It is being chipped away at slowly but at the end of the day, people will stop listening to the noise and start relying on word of mouth and personal experience. WU doesn't cheat its customers (even if their fees are exorbitant) and Bitcoin itself doesn't make you shit yr pants if you use it as intended.
I'd be really pleased if these scams purged Bitcoin weak hands too but I'm afraid they're already all gone.
Still one of the most popular means to send money. It is being chipped away at slowly but at the end of the day, people will stop listening to the noise and start relying on word of mouth and personal experience. WU doesn't cheat its customers (even if their fees are exorbitant) and Bitcoin itself doesn't make you shit yr pants if you use it as intended.
I'd be really pleased if these scams purged Bitcoin weak hands too but I'm afraid they're already all gone.
One thing that I think of these days is that people are sort of used to cyber crime happening, because many have seen their own information fall into the wrong hands when corporations like Target and Sony(?) got hacked, and I'm sure there have been quite a number of other cases that I either can't recall or don't know about. And all of that involved either information or money, so I don't think a lot of folks nowadays necessarily think of bitcoin as a scam or as an insecure payment method or anything like that. They're more likely to associate it with other crimes like drugs and whatnot.
Yes, but mostly because people don't understand Bitcoin. To some it's an internet magic money and they already know that internet is full of scams.
That's true to some extent, but I don't know if the general public is even aware of the vast majority of crypto scams that are going on. Members of bitcointalk are used to seeing them all over the place, but that's because we're reading about them here or on a crypto news site. I don't think the mainstream media reports on crypto scams all that much, though someone please correct me if I'm mistaken. In any case, I don't think there's much of a reputational damage issue we need to worry about when the scams keep happening--and we all know they will. 
There has been a lot of scams within the crypto space over the course of its lifetime. Most recently, a Twitter hack that took the accounts of prominent figures within the mainstream world, has been all over the news. Mainstream media has been making people believe that Bitcoin is "bad" by tying it to the Twitter hack. While malicious actors demanded to be paid in Bitcoin, it doesn't mean that the cryptocurrency itself is a scam. Unfortunately, many people in the mainstream world have commented about Bitcoin negatively because of the recent hack. Despite these unfortunate series of events, Bitcoin and other cryptocurrencies are experiencing huge gains on the market.
Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?
I believe that they do. They would not have harmed Bitcoin's reputation if people did their research, but that's not usually the case. People who are deep into cryptos know well that the community doesn't tolerate scam and is happy when scammers are caught. However, when it comes to people who just hear about cryptos from time to time, they are likely not to differentiate between things. Bitcoin-crypto-blockchain-ICO are sort of one world of vague and shady stuff to them, not to mention that sometimes scam is indeed related to Bitcoin (usually stealing Bitcoin). So if you don't really care to read more, it sounds like something to avoid because it's used by criminals and it's something that gets stolen often. Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?
I don't think so although by some people who think from the begininig that Bitcoin is scam and something that can't be trusted, such scams only make bad impression even worse
However, we need to have in mind that fiat money is also very often connected with scams, all types of it, and the fact why scamers use Bitcoin and other cryptocurrencies is the fact that they are still harder to trace. However, that doesn't mean that Bitcoin is a tool for scam itself.
However, we need to have in mind that fiat money is also very often connected with scams, all types of it, and the fact why scamers use Bitcoin and other cryptocurrencies is the fact that they are still harder to trace. However, that doesn't mean that Bitcoin is a tool for scam itself.
From my own viewpoint, scam is cur across every currency. Both fiat and digital currency. However, it becomes a problem when the chance of getting or recovering back your money is very slim. Then people become fearful when it is not likely going to be so. Consistent use of digital currencies who has been a subject of discussion by novice as a scam will further harm the reputation of the coin while it might promote further usage as currency for getting away with scam by the scammers. Such can be noticed by increasing scam giveaway on youtube that use the same old trick and even site script
Most (if not all) scams are actually successful due to the BTC owner's fault. It doesn't really make sense to blame a decentralized system for not protecting you from a deal that seemed too good to be true and an obvious scam in the first place. It's also much harder to get away with a BTC scam than it is to get away with a cash theft. There's a very significant difference between the amount of illicit activity of the two, and Bitcoin is in advantage. All scams really prove is there's always going to be people that don't play by the rules, in any medium. 
Right now there are a lot of platforms are doing the mode of payment with the use of cryptocurrency and of course, there are a lot of people want to make an investment regarding with this platform because they know this is a new coin and there is a chance to grow up also some of the modes of payment to their users are bitcoin as a person wants to earn bitcoin this is a good thing your mindset like
"Wow, this product helps me to earn bitcoin and become rich."
But sometimes your dreams will lose and after long days and months the platform is just a scam those dreams will blow up and now you think is the bitcoin becomes a scam because you think it is a wrong way all of the cryptocurrency right now is just a scan those are the common misunderstanding of the newbies about the use of the bitcoin so they believe bitcoin and other digital assets are a scam.
Still, there are some legit and not but we want to avoid and terminate immediately those platforms giving a bad reputation with the use of the bitcoin and crypto.
"Wow, this product helps me to earn bitcoin and become rich."
But sometimes your dreams will lose and after long days and months the platform is just a scam those dreams will blow up and now you think is the bitcoin becomes a scam because you think it is a wrong way all of the cryptocurrency right now is just a scan those are the common misunderstanding of the newbies about the use of the bitcoin so they believe bitcoin and other digital assets are a scam.
Still, there are some legit and not but we want to avoid and terminate immediately those platforms giving a bad reputation with the use of the bitcoin and crypto.
From my own viewpoint, scam is cur across every currency. Both fiat and digital currency. However, it becomes a problem when the chance of getting or recovering back your money is very slim. Then people become fearful when it is not likely going to be so. Consistent use of digital currencies who has been a subject of discussion by novice as a scam will further harm the reputation of the coin while it might promote further usage as currency for getting away with scam by the scammers. Such can be noticed by increasing scam giveaway on youtube that use the same old trick and even site script
They do when they are big enough. If it's some small-scale ponzi scheme, no one will hear about it from mainstream news, but if it's something like the recent Twitter hack, than some people would think that Bitcoin is responsible for it. The real question is how many people would for this opinion and how many people are aware of even big news. Twitter hack might be big news for people who are into technology, but I'm sure others not even aware of it, unless they are glued to news sites 24/7. So I think generally Bitcoin's reputation isn't that much damaged yet to worry about scams too much, but it would be good if there was less scams around, maybe if they moved to Monero, for example.
Indeed, these accusations would surely affect the reputation of Bitcoin. In fact, many are suspicious and have bad feeling when it comes to involvement with cryptocurrencies. However, I think despite these unpleasant impressions, people are becoming more curious than ever as to why Bitcoin is thriving if it is just some type of scam or ponzi schemes as they say. And so they, engage and then they realize their misconceptions about it.
I think it's not about the media making people believe that bitcoin is all about scam since scamming has been always there, and what they do is to update people with recent news. Although it may affect what people think about bitcoin since what they keep on seeing is the negative side of it. But I don't think this will affect bitcoin's reputation at all for a long time since there are people who still believe in bitcoin.
You see, paper money is also always involved in scamming and hacking activities but it does not affect its reputation to the public since it's is not just about illegal activities. The same goes for bitcoin, people just need to learn to fully understand bitcoin and change their perspective about it.
You see, paper money is also always involved in scamming and hacking activities but it does not affect its reputation to the public since it's is not just about illegal activities. The same goes for bitcoin, people just need to learn to fully understand bitcoin and change their perspective about it.
~snip~
Of course! Ordinary people who have no idea about what Bitcoin is all about have the tendency to associate these scams with it that in effect taints its reputation and all the while, it is being stereotyped constantly.
Moreover, the victims of these scams would most likely make bad assumptions about BTC so that would be adopters would rather think twice in being involved with it. But I think this situation will change once they are armed with the right information and this could gradually change their perception about it. Imho.
There has been a lot of scams within the crypto space over the course of its lifetime. Most recently, a Twitter hack that took the accounts of prominent figures within the mainstream world, has been all over the news. Mainstream media has been making people believe that Bitcoin is "bad" by tying it to the Twitter hack. While malicious actors demanded to be paid in Bitcoin, it doesn't mean that the cryptocurrency itself is a scam. Unfortunately, many people in the mainstream world have commented about Bitcoin negatively because of the recent hack. Despite these unfortunate series of events, Bitcoin and other cryptocurrencies are experiencing huge gains on the market.
Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?
Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts?
I think that such incidents, such as hacking Twitter accounts and then demanding a ransom in bitcoins, cause huge damage to all digital currencies and make them illegal. It is clear that it will not be possible to completely ban them, since this is a decentralized system, but this also puts legalization far away.
They only possibly harm the reputation of Bitcoin to those who are ignorant of it still. Those of us that are informed know that scams don't reflect the integrity of the network/currency as a whole.
Very straight to the point. Only those who are ignorant and didn't pay time to understand
what bitcoin is will see that way.
For people who have enough knowledge about bitcoin won't affect anything, life will continue
the way they deal with this industry.
That Media hypes that pointed negative views for bitcoin will also helps in some ways, there are
still people who show interest after this news.
People that will come out of curiosity, may also start investing to this market after learning
their opportunities,.
Of course! Because first impression lasts. What do you think would probably happen if you experienced drowning for the first time? You will get afraid of water, right? The same will happen if you get scammed. Though technically speaking it's not bitcoin's fault, you still tend to get afraid of investing due to a bad experience. The trauma of losing money will remains that's why they now refuse to try again unless he/she is business minded which understands — that not at all times he/she is winning.
Nevertheless, I hope each and every person who got scammed (not only from crypto but in general) will finally overcome their fear. I hope they soon realized that cryptocurrency is not the real evil here but only a tool most often used by bad people.
It will not last longer if we try to support its legitimacy in the community. If we tell them and showcase the benefits and advantages of bitcoin, they will realized that bitcoin is a source of profit and can store value. Bitcoin do really need a lot of support from the community to fight against those bad things where crypto was being used.
Indeed, proper education of this technology is the key for them to believe in it. That it is not intentionally made to harm us 
.
Nevertheless, I hope each and every person who got scammed (not only from crypto but in general) will finally overcome their fear. I hope they soon realized that cryptocurrency is not the real evil here but only a tool most often used by bad people.
It have some effect but it doesn't last that long. A lot of scams that happened and bitcoin just kept in comkng or bouncing back giving more profits to its users and investors. People here in our province thought it is a scam since it is reported in the news but they realized it is not since I've been using it 2 years since that news reporting.
It will not last longer if we try to support its legitimacy in the community. If we tell them and showcase the benefits and advantages of bitcoin, they will realized that bitcoin is a source of profit and can store value. Bitcoin do really need a lot of support from the community to fight against those bad things where crypto was being used.
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