Do scams harm Bitcoin's reputation in the mainstream world? - page 5.

Abiky

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Quote from: bitbunnny on August 20, 2020, 05:39:10 AM

A great deal of mainstream world still have prejudice to Bitcoin and such scam accusations just confirm their lack of confidence. Of course,. scams are not connected only to Bitcoin and cryptocurrency but many simply forget about that. Therefore scams contribute to bad reputation of Bitcoin who think negative about it anyway and that is why education and raising awareness are very important.

That's certainly true, mate. I believe that most people are prejudiced against Bitcoin because of the bad propaganda from mainstream media and governments worldwide. Since most people don't take the time to do their own research, they often believe what it's said by such entities. With proper education, people will be able to distinguish between scams and cryptocurrencies themselves (in this case, Bitcoin). I'm sure that as Bitcoin becomes higher in price, most people will join the crypto craze in order to make money in the least time possible. Only a select few will stay in it regardless of its price, because they believe in its core Blockchain technology to change our world for the better.

As long as Bitcoin continues to deliver as promised, there should be nothing to worry about. Most people have different opinions regarding Bitcoin in the mainstream world. What the crypto/Blockchain industry needs is heavy-handed regulation in order to reduce the number of scams performed by malicious actors. Only then, people will trust crypto more thoroughly as an alternative to existing Fiat. Scams or not, Bitcoin will continue to function as a decentralized peer-to-peer financial system that's "impervious" to events in the mainstream world. Just my thoughts Grin

Ozero

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Of course, numerous cases of scams that are associated with the name of bitcoin are very damaging to its reputation. However, there are more positive factors with bitcoin, which are not single, but general and global in nature, and therefore, over time, a positive image about cryptocurrency will prevail. It just takes time.

budi691

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it will definitely affect Bitcoin, but this has been repeated several times but bitcoin is still standing, in my opinion Bitcoin is not evil and is only used as a tool to do evil,
What if they ask for FIAT money as ransom for crimes, will the fiat money also be damaged? Of course not, so Bitcoin is only slightly affected by scammer tricks,
but it didn't last long and returned to normal.

roadrunnerjaiv2025

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Needless to say, yes, it does impact bitcoin's reputation. And I think it's one of the reasons why a lot of people are still reluctant to get into cryptocurrency. This widespread fraudulence, however, should not be taken as proof that cryptocurrency isn't safe and effective. If anything, it proves how little most people know about it, considering that the more you understand cryptocurrency, the less likely you'll get scammed.

samputin

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Quote from: arditiyan on August 23, 2020, 06:14:14 PM

for people who are new to crypto scams on behalf of crypto are a nightmare for them, and they will not continue to crypto. but for old players they already know and understand that it is a fraud, so they can be more vigilant. the need for education for people who are new to crypto so that they are not easily afraid of the issue of bitcoin's bad reputation due to fraud in cryptocurrency

Having knowledge about something really plays a great role. And it's no different in the crypto world which is also prone to scams. Like you have said, if a person is new and encountered a scam, then he may not continue his journey with it or not even begin his journey in the first place. The blame will surely go to bitcoin itself and not on the scammers who did it. Thus, affecting btc's reputation. That's why conducting a research or self study is a plus to understand what happened and that bitcoin is just the medium used -- not the cause of the scam itself.

witcher_sense

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Quote from: BChydro on August 23, 2020, 08:48:40 AM

Suppose the authorities confiscate bank notes from dirty business including drugs and other illegal trades they becomes legal and so is the case with bitcoin, we have heard many stories where the authorities confiscated bitcoin that is used for illegal activities and what they did is auction those coins after that and thereby those bitcoins become legal.

If dirty coins were confiscated directly from shady business and then were successfully auctioned, there is no problem with such state of affairs. This is basically an ideal situation when everyone wins except scammers. Unfortunately, we are living in a world that is not so perfect. Often these coins go to law-abiding persons that are using bitcoin network just for usual transactions. Can authorities confiscate those coins only because they had bad history in the past? If not, should we continue to call those coins taint, dirty and illegal? If yes, should it be called just law inforcement?

kotajikikox

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Quote from: Sebas.tian on August 23, 2020, 04:53:28 PM

Quote from: ?? on ??

Mass people know little or nothing about crypto. All they know bad things happen around crypto. They know that only drug dealers, porn industrialists, arm dealers use bitcoins. So if mass people hear anything new bad event around crypto, crypto will suffer alot

I wouldn't see that as a bad reputation to Bitcoin if it been used for dealing with the bad individuals or group of individuals. Nothing that's happening with Bitcoin that had not happened with fiats, terrorist do make use of the fiats alongside the drug dealers, so, these has been in existence before the advent of cryptocurrency. Fiats are used for Ransom and Bitcoin also does, nothing differentiate Fiats from Bitcoin when talking about their negative point.

This issue has been there even before you learn about crypto But until now nothing proven that this has been used by these criminals and if there are maybe authorities are already in their backs.

Quote from: arditiyan on August 23, 2020, 06:14:14 PM

for people who are new to crypto scams on behalf of crypto are a nightmare for them, and they will not continue to crypto. but for old players they already know and understand that it is a fraud, so they can be more vigilant. the need for education for people who are new to crypto so that they are not easily afraid of the issue of bitcoin's bad reputation due to fraud in cryptocurrency

scams are only affecting noob and greed people because they are the real targets,those who believe in easy money or in big profit.

sayulita

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Quote from: arditiyan on August 23, 2020, 06:14:14 PM

for people who are new to crypto scams on behalf of crypto are a nightmare for them, and they will not continue to crypto. but for old players they already know and understand that it is a fraud, so they can be more vigilant. the need for education for people who are new to crypto so that they are not easily afraid of the issue of bitcoin's bad reputation due to fraud in cryptocurrency

Many newbies are first looking and understanding what is cryptocurrency and also are good in doing research so, most probably they would have seen many videos on YouTube and would have read many articles before entering the market, but still there is more sensitization to be done before they are ready and in that process many falls prey to scams and HYIP or maybe MLM plans that are bound to fail, but they aren't able to understand these because they are new to crypto and are still understanding, but if the person is dedicated enough then I don't think that he will ever stop pursuing crypto even if he looses some money first in scams, I also lost money in ponzi schemes when I was new to crypto and still I am here after all these years.

arditiyan

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for people who are new to crypto scams on behalf of crypto are a nightmare for them, and they will not continue to crypto. but for old players they already know and understand that it is a fraud, so they can be more vigilant. the need for education for people who are new to crypto so that they are not easily afraid of the issue of bitcoin's bad reputation due to fraud in cryptocurrency

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Quote from: ?? on ??

Mass people know little or nothing about crypto. All they know bad things happen around crypto. They know that only drug dealers, porn industrialists, arm dealers use bitcoins. So if mass people hear anything new bad event around crypto, crypto will suffer alot

I wouldn't see that as a bad reputation to Bitcoin if it been used for dealing with the bad individuals or group of individuals. Nothing that's happening with Bitcoin that had not happened with fiats, terrorist do make use of the fiats alongside the drug dealers, so, these has been in existence before the advent of cryptocurrency. Fiats are used for Ransom and Bitcoin also does, nothing differentiate Fiats from Bitcoin when talking about their negative point.

friends1980

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Let's say that at least there is a certain existing "impression" by people who don't know better, that trading BTC makes you vulnerable to scams. I'm quite sure that this is only temporary, since BTC has no monopoly on scams, on the contrary...

But indeed, I'm quite sure that this negative reputation does in any case not accelerate the integration of BTC in everyday life. So I wouldn't state that scams are really harmful, but they probably slow down BTC's acceptance in the "mainstream world", as you called it.

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Quote from: peterpanda on August 23, 2020, 11:02:50 AM

People have negative intention on scam.

That's why it's called SCAM Lips sealed

Quote from: peterpanda on August 23, 2020, 11:02:50 AM

still many people are not familiar with crypto market.

Yes because the market is still young, 10 years, a decade, we just see it as a huge market because it grows rapidly because of bitcoin. I think crypto users are less than a million in the whole world, but once the crypto explodes in the mainstream expect tons of inquiries about crypto.

Quote from: peterpanda on August 23, 2020, 11:02:50 AM

If they know scam on bitcoin, they won't join with it.

I'm getting the point. It really depends on the person who sees it, if he is cognitive enough then he will search through it and find why people are using bitcoin for scam, and that's because of its futuristic feature. A 5 minute read about bitcoin will give them idea why they should jump on it.

peterpanda

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People have negative intention on scam. still many people are not familiar with crypto market. If they know scam on bitcoin, they won't join with it.

BChydro

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Quote from: witcher_sense on August 17, 2020, 02:01:26 AM

Naturally, people are not going to say bad words about fiat, because they are being paid with government money for their time and effort. They don't care if this money came from drug dealers, because they still can buy something in grocery store.

There is no money trail with fiat currency, you can mark the currency with serial numbers but you cannot identify everything.

Quote from: witcher_sense on August 17, 2020, 02:01:26 AM

No company like Chainalysis can come to analyze blockchain and say banknotes are now dirty and therefore non-fungible, government promised them no matter what happened to banknotes, they can hand over them with no worries.

Suppose the authorities confiscate bank notes from dirty business including drugs and other illegal trades they becomes legal and so is the case with bitcoin, we have heard many stories where the authorities confiscated bitcoin that is used for illegal activities and what they did is auction those coins after that and thereby those bitcoins become legal.

GDragon

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Quote from: Ayiranorea on August 16, 2020, 06:00:31 AM

Rather than positive incidents, negative incidents will spread much faster. In such a way is the scams associated with cryptocurrencies. It'll easily reach the people and affects the reputation of cryptocurrency.

Totally agree with you, negative incidents will always prevail than the good ones. I just think its a natural human instinct to just remember the bad ones than the good ones, I'm guilty of it too, if a person do a bad thing to me, all I would remember is the bad things and not the good things he did to me. This is what happening in the industry of crypto and blockchain, some are informed that there are scams in btc but they forgot to think beyond it, they will just see btc as a scam, unfair cause btc is not a scam, but it suffers because of those few people doing it.

nonconformist

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Of course, even though we can say that it will contribute to the popularity of bitcoin and cryptocurrency in general, scams still have bearing to Bitcoin's reputation in the mainstream world.

That's why it is our task. Us who can understand which one is a scam and which is not to educate people, especially the newcomers about this.

And I found some websites that can help on determining which websites are scam and which are not. Which bitcoin wallets are used for scam and which are not.

Here's the link:

https://scam-alert.io/

and here's another one:

https://www.bitcoinabuse.com/terms

Keep safe everyone!

imstillthebest

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scam and hack are different , what happen to twitter was hack but if the media reported differently or they report that it was a scam , its thier fault and should not be trusted but there are news that are legit and trusted .

people know that , they need to verify it atleast if what they heard is true or not but scam and hack does affect btc depending on the people that believes on it .

mardaed

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Quote from: The cure on August 20, 2020, 04:27:54 AM

In every business there's always scammers who are on the lookout and waiting for the opportunity to attack, specially if the business is popular it will increasingly attract fraudsters. Same with crytpo world it's because cryptocurrency is gradually being received and used by people all over the world that's why scammers want to make it an instrument to deceive people. At first the people they fooled will talk negatively about bitcoin specially when there's a huge amount involved, but if they look closely at how they were fooled maybe they will know that bitcoin is not a scam but the people who use it's name, and many will still prove that bitcoin is real and not scam.

That is true. It is what people do not realized immediately, that Bitcoin is just being dragged into these illicit acts and just involved because it was used as an instrument and commodity to the intention that was done to them.

bitbunnny

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A great deal of mainstream world still have prejudice to Bitcoin and such scam accusations just confirm their lack of confidence. Of course,. scams are not connected only to Bitcoin and cryptocurrency but many simply forget about that. Therefore scams contribute to bad reputation of Bitcoin who think negative about it anyway and that is why education and raising awareness are very important.

The cure

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In every business there's always scammers who are on the lookout and waiting for the opportunity to attack, specially if the business is popular it will increasingly attract fraudsters. Same with crytpo world it's because cryptocurrency is gradually being received and used by people all over the world that's why scammers want to make it an instrument to deceive people. At first the people they fooled will talk negatively about bitcoin specially when there's a huge amount involved, but if they look closely at how they were fooled maybe they will know that bitcoin is not a scam but the people who use it's name, and many will still prove that bitcoin is real and not scam.

Topic: Do scams harm Bitcoin's reputation in the mainstream world? - page 5. (Read 1887 times)