Topic: Do scams harm Bitcoin's reputation in the mainstream world? - page 12. (Read 1887 times)

Although the scam situation that happened dont have effect on the bitcoin market but that doesnt mean bitcoin reputation was not harm or it global adoption was not affected by scam activities happening because we have some government which are planning to legalize bitcoin and the scam issue could change their mind. Besides, none of all crypto exchange site have adequate security save from hackers.

The only harm i think scam will cause is more restrictions rules from the SEC cause scam was the reason why KYC/AML was introduced in crypto investment. However, people seems to have already understand the risk in crypto investment.

Scam will be distance from Bitcoin the moment investors and traders totally comprehend how scammers operate and avoid human error.

Definitely as it seem that more scammers now taking the advantage of using bitcoin to scam others. There are many hackers and  scammers with bitcoin this is why users are being careful. However, still being careful is not enough because these people doing fraud are also innovative and techie that can lured one on getting scam. Just like for an example using the malicious progra that could use to phished out important details on wallet like private key. These malicious program are those like ads popping or browsers extension maybe. Anyway just always be careful.guys..

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.

Hello to all. There is no doubt that the actions of fraudsters negatively affect the image of Bitcoin. But the image, and different opinions about any branch of our life, is just a manipulation of the news coverage. Unfortunately, in the leading media, I have never heard positive comments and positive reviews about the cryptocurrency space. One can only hear that "scammers", ... "bitcoin fell again ...", "... people lost money ..." and stuff like that. I myself, when I first got acquainted with the cryptocurrency world, began to ask my friends about bitcoin, more than 90 percent of the respondents said that it was all a scam. People are too lazy to delve into the truth. Until the majority of people stumble directly with Bitcoin, and they themselves do not feel all the advantages of the cryptocurrency world, negative news will do their dirty work. Unfortunately, it is common for a person to hang labels on things that he does not understand at all, and it is very difficult to get rid of such labels later. I believe that we, who have accepted the cryptocurrency market, with all its positive and negative qualities, just need to show and tell uninitiated people the pitfalls of cryptocurrency, and without exaggeration, explain all the advantages. Well, globally, I think it's useless to do anything - basically, people in power are far from digital assets, they are poorly educated in this area, cunning, greedy and deaf to the needs of ordinary people. I think until this generation of thieves' governments leaves, nothing will change for the better. Bitcoin is a digital miracle that will pave its way for itself, but we will do our best to promote this.

It do affects bitcoin's reputation most of the time. Yeah, even before that it's only just known on the dark market, they are all calling it the money only for criminals.

But progressively, that bad reputation start to change. The bitcoin scam is only known by those people who don't understand what bitcoin is. To us and others that understands what bitcoin is, we know what it is and it is the hacks and scams that are the real enemy.

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. It's just one more to these people. I was pleasantly surprised that twitter hack didn't do more damage to bitcoin. I was sure it would be dealt as a "bitcoin hack" in the media, but people didn't seem to agree with the headlines. They seemed to understand that it had everything to do with the twitter and less with bitcoin.

Of course it does but I think it would depend on the person if they would care about it or not.
But base on my own experience it really does have an effect on the people around me some of them would get scared whenever they hear about scam on crypto or some would just ask random things about it.
And for the record those people doesn't even have an investment on crypto they are just curious about it and no matter how hard I tried to explain they just seems to see it as an investment tool.

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.

And if you compare with the old times, many were talking bad about BTC but now in 2020, they have a cryptocurrency category on their website with a lot of different contents (news, videos, interviews, market research, analyses, etc)...

(On a side note, the Panama Papers scandal didn't give a bad reputation to the US dollar. It's just to give a comparison when it's about rep)

Even prior to the twitter hack, bitcoin has been called with so many names, like scams, ponzi schemes, being used by criminals (drug lords, terrorists) etc. And yet it still survived, get to a new all time high in 2017, suffers a long bearish trend, bounce back. In short it is very resilient and it's already proven that no matter what negativity they thrown, it doesn't have long term impact. So regardless if we have a twitter hack in the name of bitcoin, I don't see it's reputation being harm in the mainstream much worst than the media attacks back on 2016-2017.

"If you can't beat them, join them"

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?