How does the scammer companies earn through bitcoin ? - page 3.

uneng

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Quote from: Sifat Redwan on September 14, 2021, 02:45:23 PM

I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

This process is called Ponzi Scheme. It's not related to bitcoin specifically. In this case bitcoin was just the currency used by the scammers to run their operation, but it could be also your local currency. You can earn by watching video is different platforms, for an example I can mention Permission.io, but as far as I know it's not possible to earn a decent amount of money with this kind of site. You will just receive pennies for every video/ads you view. The fact is that people promoting such sites earn with referrals instead of earning through viewing ads themselves.

Micro jobs sites like Rapidworkers and Picoworkers also pay for watching videos. The payrates are low anyway for the time you have to spend on it to complete the tasks honestly.

Cling18

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The said project isn't related to Bitcoin but they're just using Bitcoin to scam and fool people. That's the risk of putting and entrusting our funds on people because of the hype and fud. That's why we're always advised to do research first before investing so we'll never be a victim of scammers.

isaac_clarke22

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Quote from: Sifat Redwan on September 14, 2021, 02:45:23 PM

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Sounds like an exit scam. I can't quite connect what you're saying in the first part though. Investing in a platform but then watching ads to earn? I am aware of these microtasks that allows people to earn by watching certain stuffs, mostly they earn points from it and redeem through Paypal.
I am not entirely sure what's the connection of it with Binance, unless that "company" that your friend mentions pays in token and was exchangeable in Binance.

zanezane

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Through mass promotion from advertising agencies and false promise and big smiles, look at Bitconnect and One Coin, they were able to make something that's altogether fishy into something that's totally legitimate. Charisma is the biggest factor in this one too as you can't be quivering when you're asked of really pressing questions.

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Quote from: sheenshane on September 14, 2021, 05:58:03 PM

Quote from: Sifat Redwan on September 14, 2021, 03:24:11 PM

I was told that the money was paid in bitcoin and later it was converted to USD. I thought that they earned bitcoin by watching ads.

I thought this kind of scam didn't exist these days because people know what is Ponzi scheme is. It basically lures naive people with a small percentage they supposedly got per day after staking their Bitcoin and after how many days, they paid you for how many days and later on, they will shut down and you can never hear them again.

I had the same opinion, but to my surprise, I typed "earn bitcoins for watching ads" into a Google search to check the relevance of this query. But even today, Google gives a lot of suggestions that beginners can believe in and then be deceived.
It also turned out that in addition to Ponzi schemes, people interested in cloud mining are also offered to earn on viewing from their mobile phones and pay for a subscription. But the only thing they do is watch ads, and as a result, they don't earn anything.

https://www.trendmicro.com/pl_pl/research/21/h/fake-cryptocurrency-mining-apps-trick-victims-into-watching-ads-.html

Fraudsters will regularly come up with new schemes of deception, as long as people are willing to be deceived because of their ignorance.

Kasabus

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Quote from: Kong Hey Pakboy on September 14, 2021, 09:27:26 PM

They promise people huge amounts of money and then making them excited about this and at the same time instigate them into investing into their company and then this gullible person will comply and give them the amount that they're asking for and that's how they make some money, some of them will pay for awhile and when you decide that you want to increase what you're making, that's when they pull the rug on you.

No one would pay you with that amount just by seeing an ad. If you want to earn bitcoin, work hard for it. The company is not really existing and its only run by certain scammers who's job is to encourage people to invest and when they start investing, the said company will offer them huge returns from their money being invested. Maybe in the first months, investors will definitely receive a good amount but after several months when the fake company has already received lots of money from investors, then they totally disappear in just a sudden. This is not new to everyone especially when you're in a business field. Different types of scamming like ponzi scheme will definitely arise just to make advantage of those people's money out from their ignorance.

Kong Hey Pakboy

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They promise people huge amounts of money and then making them excited about this and at the same time instigate them into investing into their company and then this gullible person will comply and give them the amount that they're asking for and that's how they make some money, some of them will pay for awhile and when you decide that you want to increase what you're making, that's when they pull the rug on you.

BayAreaCoins

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If the website doesn't make sense... avoid it!

Use a free bitcoin website like FreeBitcoins.com or FreeBitco.in.

Good luck!

Wexnident

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It's really simple OP, the scam company creates an internal wallet of sorts that reflects purely numbers, making players mistake it for "profit". In your friend's scenario, he's mistakenly thought of the balance he has on the app as "profit" already, when in fact, it's just numbers generated by the app or whatever he uses, meaning it's fake, it has no real value, simple as that. Now, it's not only Bitcoin that scammers use, it's everything. Bitcoin is simply a medium, just like every other medium there, they are in no way at fault for being used in scams. If you were to continue in that direction I'd really have to question your intelligence about it ngl. That's at most, the only connection scamming has to Bitcoin (or anything else really).

Darker45

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Supposing there is a continuous flow of paid ads, then perhaps there is indeed a revenue coming from these companies. To increase traffic and consequently fees for the clients who wish to put up their brands, they are hiring ads viewers for a small payment.

However, in this particular case in which investment money is solicited from those who wish to earn, there is a suspicion that the money to be paid are most likely taken from the money of new investors. In other words, this is a Ponzi scheme. This is not at all related to Bitcoin.

sirminesalot

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Quote from: Sifat Redwan on September 14, 2021, 02:45:23 PM

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

This kind of scam was hype back in 2017-2018 era, there are a lot of lending platform which give you around 1-5% a day without doing anything.
Called ponzi scheme which your money will fund another people registered after you, and when they already have a lot customers and the money pool is already big, they disappear.
I saw there are still many ponzi platform that giving a lot of return in short time nowdays this year, and it must be ponzi and could bring your money anytime, but for several lucky people if they join it at the right time, they could be get much profit also.

dansus021

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earn money by watching ads its remind me about neobux and other paid to click program but why need to invest when u still to work Grin

usually scammer who using bitcoin and other payment services is HYIP(High Yield Investment Program) which give you good return on short time but HYIP most people also call them as ponzi scheme later investor will get nothing except regret Cheesy

always do research first before investing

Yamifoud

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Quote from: Sifat Redwan on September 14, 2021, 02:45:23 PM

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

It has to understand that these people are just making your friend and his friends a fool.
You might get paid during your 1st, 2nd, or 3rd day but don't wonder that they will disappear and banned you from contacting them in the following days. They are good at first but later on, you will know their true intentions. In fact, if you would analyze it carefully, you will surely be doubtful about how it be going to happen.
Quick returns, receiving a huge amount without doing anything, that obviously as Ponzi scheme.

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Quote from: tabas on September 14, 2021, 05:50:22 PM

There is simple logic with how you earn in real life and there's not that much difference in earning bitcoin. If that's what they offer that you'll earn while you're sitting pretty then everyone will have that dream job and investment. But sadly, if it's too good to be true, that's a scam.
You and your friend must learn what are the usual scams that are happening not only in bitcoin but as well as in real life because both of you are vulnerable.

The scam is a typical ponzi type of scamming and it's a common scam that you can find anywhere especially if someone wants to earn an easy money they will all fall for this type of scam. And yes, it's too good to be true but his friend doesn't have a single idea what's happening then one day before they realize, it's all gone. Regret and despair came in while thinking what just happened.

Newbies will always fall for the easy money trap once they don't know what they were doing. They never took their time to research they then just learned to research after they've been scammed. Just count it as lesson learned and an experience for you and your friend's journey.

hatshepsut93

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Some scammers choose Bitcoin because it's easier to hide your tracks with it. But most scammers choose fiat because it's more popular, so you can't really say that Bitcoin encourages scammers or opens ways for new kinds of scams.

In this case the scammers pretended that they run some sort of ad watching microearning company, but the fact that they demanded a payment is an immediate red flag. When someone offers you work, they should be paying you, not the vice versa. It's a quite common scam even outside Bitcoin.

sheenshane

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Quote from: Sifat Redwan on September 14, 2021, 03:24:11 PM

I was told that the money was paid in bitcoin and later it was converted to USD. I thought that they earned bitcoin by watching ads.

I thought this kind of scam didn't exist these days because people know what is Ponzi scheme is. It basically lures naive people with a small percentage they supposedly got per day after staking their Bitcoin and after how many days, they paid you for how many days and later on, they will shut down and you can never hear them again.

Back then year 2017 this kind of scheme was very popular, in fact, I'm one of the victims when I was investing my Bitcoin in a mining company, they promised to get my whole capital after 30 days, and per day, I got my profit. But after a week, they lost and never come back, it's regrettable.

Next time, analyze it first in which part they generate their revenue of their business. Because usually, it comes from newcomers in crypto, and then if the pool fund is ready to exit and run away, that's the time they become scams.

tabas

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There is simple logic with how you earn in real life and there's not that much difference in earning bitcoin. If that's what they offer that you'll earn while you're sitting pretty then everyone will have that dream job and investment. But sadly, if it's too good to be true, that's a scam.
You and your friend must learn what are the usual scams that are happening not only in bitcoin but as well as in real life because both of you are vulnerable.

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Quote from: Sifat Redwan on September 14, 2021, 02:45:23 PM

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

They aren't earning "through bitcoin". They are earning by "scamming people". You are making it sound like bitcoin is used for scamming people. Like one of the user mentioned, it has nothing to do with bitcoin. Your "friend" probably joined a ponzie scheme where he was getting paid a lot for watching random advertisements. As long as people are investing in that "scam company", everyone will get paid. Once people start trusting them and more people starts investing, they will disappear with those money. It's sad that people still fall for scam like those.

stomachgrowls

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Quote from: Sifat Redwan on September 14, 2021, 02:45:23 PM

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

Its just simply a cover up but totally that website is really just a ponzi. If there would be no one will be making out some deposits then it would just simply breakdown and the site would go down and ran all of those money
that had been deposited by those late investors.

This is a basic scheme that had been known in the past thats why you should have at least on using your common sense for you to avoid.Yes, you can earn initially but promising on earning a lifetime
is something you should be having on doubts about in the first place.

arwin100

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Quote from: Sifat Redwan on September 14, 2021, 02:45:23 PM

I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?

They used that 6$-7$ USD to lure people since like what you said if your friends tells you that he is earning that amount by just watching ads and then deposit some amount on their platform then for sure you will have an interest to try it to. Talk by mouth is like wide fire and its easy to spread especially if there's a money involve also if you ask how those scammers earn then they are earning thru the deposit of their new investors since once they convince more people to put their money in their platform and also once they reach there threshold like achieving millions of dollars in investment then they will do a grand exit scam and left their investors crying.

Topic: How does the scammer companies earn through bitcoin ? - page 3. (Read 471 times)