Do scams harm Bitcoin's reputation in the mainstream world? - page 11.

Latviand

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Quote from: Abiky on August 07, 2020, 02:55:56 PM

Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world?

Absolutely yes! This is really a hindrance for us to achieve mass adoption faster. These scams are really getting popular and cryptocurrencies are the tool that is being used for it. Although, fiat currency are the most used tool for scamming, but now that we are engaging into a more digitized transactions, cryptocurrencies are used for crimes.

Quote from: FlightyPouch on August 07, 2020, 05:05:12 PM

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.

raidarksword

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Yes, it brings bad reputation indeed to bitcoin that being said that it's a scam, fraud and whatever negativity they can throw on bitcoin. Many people putting bad names on bitcoin because it used on ponzi scheme by people want to take advantages thru the anonymity of it just like what happened on twitter hack incidents. Only people without knowledge on bitcoin will say that but to people who are educated about it, everything is fine and understandable that bitcoin is only being used by bad people that are hunger of greed.

shoreno

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Quote from: acroman08 on August 08, 2020, 03:43:46 AM

Quote from: Abiky on August 07, 2020, 02:55:56 PM

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? Huh

yeah, scams do harm the image and reputation of bitcoin and cryptocurrency in the mainstream world and maybe because of that the adoption rate is being affected(I might be wrong though) and the only way people will realize that bitcoin or cryptocurrency is not a scam itself is for them to learn or be informed of what bitcoin or cryptocurrency is. and I feel like, us, being in the community, has a responsibility to at least inform others(of course not in a way that it is annoying) of what bitcoin and cryptocurrency is.

yes if not because of scams , price of bitcoin can boost more because of the adoption . we want that to happen right ? yes , that why im helping cleaning the name of btc as much as i can or when i have a free time because i do love to socialize too and i recomend btc/crypto to the people with a good intro . the recent twitter scams is huge and supposed to affect the image of btc and crypto pretty badly but there are no clear signs that it happen because as we see price is still stable and continue to rise

snarlpill

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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.

acroman08

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Quote from: Abiky on August 07, 2020, 02:55:56 PM

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? Huh

yeah, scams do harm the image and reputation of bitcoin and cryptocurrency in the mainstream world and maybe because of that the adoption rate is being affected(I might be wrong though) and the only way people will realize that bitcoin or cryptocurrency is not a scam itself is for them to learn or be informed of what bitcoin or cryptocurrency is. and I feel like, us, being in the community, has a responsibility to at least inform others(of course not in a way that it is annoying) of what bitcoin and cryptocurrency is.

bonjouros

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Scams can really affect the reputation of Bitcoin but with regards to whether it can affect that much then we should not worry as it will not affect that much.
Because only newbies or the people who have no background yet about the Bitcoin will likely to think that Bitcoin is bad.

But it will be better if we can prevent those scammers as they can also damage the Bitcoin reputation even by little because those newbies
who can be considered as future investors will likely to discontinue their journey in crypto currencies if they will fall to the hands
of the scammers.

CryptopreneurBrainboss

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Judging based on the reaction in the market, I'll say it only has an effect in a very short time and most times this corrections are basically manipulation coming from the whales in the industry trying to profit from the negative news flowing around by creating a panic situation in the market. Nobody gives a shit about what the government thinks anymore and this days people tends to go the opposite direction of what the government are saying. Lets judge from what happened after the twitter hack, after a little correction bitcoin upward trend begin. Whole the government are advocating against investing in the industry, the masses are saying the opposite, 'we don't trust you guys (government) anymore'.

This goes to show more individuals got to know about bitcoin from the hack since more money starting flowing into the market. Don't be surprised not many people are fully aware of what bitcoin is all about so I don't get mad when I see this scams giving publicity to the currency. It only strengthen us more especially when the scams isn't caused by bitcoin like the twitter hack but bitcoin is been used for it's fast, decentralized and privacy features.

charlesmichel1

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Do Nigerian email scams or lottery scams harm the dollar's reputation? Do you still trust banks after credit card email scams?

Heart18

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In my country, the Government has negative impressions about Bitcoin that is why they refused to legalized it. Maybe, this "scam" issues turned the Bitcoin image so bad.
However, as a whole I believe that everything pertaining to money can be used by criminals to do bad especially this time where we experienced too much economic crisis. Even in fiat or physical money, not just Bitcoin alone, when the scammers strikes, we can absolutely do nothing.
In connection with the question, I think the best way to avoid this incident is to be very careful in storing bitcoins in our digital wallets. We need to secure it properly and don't ever engage to some website or people that was offering something that is too good to be true.

mk4

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Money is a tool, and it will be used for good and bad purposes. You know, just like how the USD is also being used for bad purposes. Same with the internet, same with cars, guns, knives, heck, even your hand can be used for bad things.

With that said, while some people are definitely being turned-off from bitcoin due to all that negative press it's been getting due to it being used for fraudulent purposes, it really won't matter in the end. It's usefulness will overwhelm the negative side.

tbct_mt2

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Quote from: LeGaulois on August 07, 2020, 03:32:09 PM

Only in the short term to me. When there is money to make people forget everything LOL.

But let's be honest, they also publish positive news for Bitcoin when there is something that drive traffic. There aren't many websites publishing 100% anti-bitcoin articles.
They write what bring traffic, as I say, since it's how it gives revenues.

Bitcoin is scam is fake scam accusations. Bitcoin is not a scam project when it was born and has never been. There are bad people use bitcoin or the name of bitcoin to scam others, forked projects are type of scam projects but bitcoin has never been a scam project.

They create fake scam accusations, and FUDs only to get traffics to their sites or to manipulate bitcoin price, for their profits. When market is in bearish phase, they create fake accusations and FUDs but then market is in bullish, they create positive news for bitcoin. Don't worry about them and worry about the true legitimacy of bitcoin.

Coining26

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They do because no one wants to be associated with something that has had arm involving it.

Yeah there are scams with normal money but people still want to be a part of that since they're used to it. Bitcoin is new compared to normal/fiat money so people have trouble wrapping their minds around and getting involved despite the risks.

Twinkledoe

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Quote from: Abiky on August 07, 2020, 02:55:56 PM

What will it take for people to distance scams from Bitcoin itself? Thoughts? Huh

If people will educate themselves about what crypto or bitcoin is, they will know that it is the same as fiat money, which is very vulnerable to scamming. So I think, education is the key for people to understand the world of bitcoin. Without knowing its basics and just relying on the media, will not give them good grasp how crypto works.

LogitechMouse

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Bitcoin has been attached to numerous scams already for many years already and even the twitter hack incident didn't happen, many are saying bad things about Bitcoin.
It is not that Bitcoin is scam but there are many more.
Bitcoin is a ponzi scheme
Bitcoin is a dead coin in the future
Bitcoin has no value
Bitcoin is a shitcoin
Bitcoin is a fraud.

What happened to those who said negative things in Bitcoin?? They tried to join and learn the technology behind it because they know that it is the future. Whatever they say to Bitcoin, it will always be victorious.
Now regarding the question, I can say that scams may affect the Bitcoin's reputations but in the end they will regret avoiding it because we already saw the price trend of it.

Wexnident

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If it was in the beginning sure. First weeks, months, year? Yea, scams about Bitcoin would have harmed it quite a lot. But we're a decade from that already, I doubt scams would even affect Bitcoin that much anymore. Probably the ignorant ones, but let's be real, if they actually learned about Bitcoin, those notions would automatically disappear. I also said this in my post a few days ago, but if Bitcoin scams affected Bitcoin that much, then really, scams with fiat should've destroyed the system already. But it didn't, why? Well, most would push it up because of government backing but really, it's because Fiat is a medium, why would you blame a medium, an item, for you being scammed? Same idea with Bitcoin tbh. If that doesn't work, you can just chalk up most people ignoring Bitcoin due to scams to ignorance.

Lanatsa

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Quote from: Abiky on August 07, 2020, 02:55:56 PM

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? Huh

We have been dealing on this thing since from the beginning even bitcoins price is still cheap where scams and frauds do happen but it still proves out that these kind of unfortunate events
or negative news wont really give out such impact directly or on spot.

Market can crash without even knowing its true reason behind and same goes for pumping on which we do have questions on why the heck it pumped even the news around
are mostly negatives?

This proves out that this market is really unpredictable in spite of its cons. Just let those people believe on things that they had in mind because sooner or later they would surely seek
of on whats the actual thing behind bitcoin and they would change up their stance towards it.

harizen

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Quote from: Abiky on August 07, 2020, 02:55:56 PM

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? Huh

Since then, yes. Crypto-related scams always lead to negative impressions especially at those people who are totally unaware of what bitcoin or cryptocurrency as a whole is all about. One good example here in my country where even crypto is now highly recognized (at least), I think 6 out of 10 people (around me) will say that bitcoin is always a scam-related thing.

Fortunately, no need to really enlightened them about the issue. As crypto progress, some people here, in fairness, realized that bitcoin is not a scam and it's just been used as a tool to do some sh*t.

This kind of impression about crypto is part of the process. People have different views so let them just think about what bitcoin really is, good or bad. After all, it won't affect the adoption.

dothebeats

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It does, but the effects aren’t really grave since most people’s attention isn’t really fixated on bitcoin and crypto developments. They still tend to forget that some things happen on bitcoin when it’s hitting the charts and markets, showing some great returns to its investors. While the mainstream media still depicts bitcoin on a bad light on some instances, people now tend to search for more information rather than believing what mass media is to say about the crypto. This also made the general population ‘smarter’ when it comes to crypto-related matters since there are subtle warnings plastered almost everywhere regarding crypto scams. I guess, in a way, those depictions helped bitcoin by serving as an initial warning to everyone on the possibilities that might happen when dealing with bitcoin.

Yamifoud

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Quote from: Abiky on August 07, 2020, 02:55:56 PM

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? Huh

Its a big denial to say that people might ignore that, all they heard and see in the news will give them some hints to be careful in investing crypto and might also drive into doubtful minds. But for those who really believe Bitcoin and crypto will never think about it instead, they keep investing as they know that these hacking events is already a part of our life even outside crypto. We all can be possible a target to these hackers but if we anticipated it first (as most people did) they never succeed.

Oasisman

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Only those who don't understand this technology and those who are against it will continue to make a negative image to Bitcoin. But, as soon as they understand how Bitcoin promotes privacy in transactions, freedom to spend your money without any third party companies, even taxes, and the opportunity to make profit by just holding it for long term would make people turn to engage into Bitcoin. Bitcoin has been tagged in so many criminal activities from the past up until now, but it's current value is telling us "no, all of those negative news won't affect me."

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