Topic: How much money you've lost due to SCAMs? (Read 2411 times)

Probably because they don't have many coins, many of the ones they do are obscure/unwanted, and they have low volume.

I gave someone a loan of 0.0011BTC and never seen it again, I do have their email and other information but its not worth it to me.

That's why never hold coins on anonymous exhanges/sites.   All these new shady exchanges are only good for dumping some coin no wants and running with the BTC.

For a reliable, trustworthy exchange I use Atomic-Trade.  FINCEN Licensed MSB, Owner is totally honest and transparent.  Doesn't get any better.   People should be flocking there in droves to get away from all the scams and do some honest trading.  Maybe they didn't spend a ton for advertising.   Anyway, try it and if you like it recommend it to friends.

 If not, I would definitely like to know why?   Seems everyone is looking to get ripped off and want it that way.

Not too much so far. Depending on what happens with cryptorush, I may have lost about 0.5 btc or so - the rest I was able to get off as altcoins without really taking a bath. I jumped ship from coinmarket the second they started getting fishy - I was one of those people who kept trying to get on the site like 10000 times a day and managed to get a withdrawal while the site was up for a minute or two.

Doesnt anyone here remember e-gold or learned from it or is everyone too young to remember the mass scamming and chaos that went on back in the mid 2000's with e-gold and exchanges. Bitcoin is a breath of fresh air for those scammers.
Its like deja vu ALL OVER AGAIN except with bitcoin now and the insane amount of alt coins

There is so much of this cryptocurreny mirrors the e-gold currency, HYIP investment scams of the last 10 yrs. Now, the altcoins are the new HYIPs and the exchanges are like the HYIP monitors that would advertise their buddies scam sites and rip you off. Fake stats and the whole shebang, exactly like the e-coin market we have now. So much is the same and
One thing that never changed= the scamming

+1

A bit of doublethink helps too. 

Well, it's not as though you really need to be hugely cynical to have greater than average success in the marketplace.  You just need to be a little more cynical than the average for the people around you. 

It's kind of like that old joke about hikers getting chased by a bear.  Nobody can outrun the bear, but the ones that outrun the other hikers survive.

Already cynical...I shoulda known. As you probably figured out, I'm not at heart. Live long and prosper...especially the first 

Heh.  Some of us found the skill relatively easy to master because we were terrifyingly cynical people in the first place.

In fact, I was too cynical to buy bitcoin back when it was really low.  I figured Satoshi was just running a scam, you know?  In fact, I still think he might have been running a scam, but at this point it doesn't matter anymore.  At least not to me.

The nice side is that I find it fairly easy to make money in open markets. 

The not-so-nice side is that the rare artist whose work I actually like usually either commits suicide or becomes an inpatient at a mental institution with a few years of starting his or her "best" work.  Either way, of course, they stop making art.

especially on the forum where many threads promise to make you rich.

Well said. I heard about BTC in mid-2011 and got interested, but I got scared off by those keylogger malware tales. Every security issue but that was surmountable, but the keylogger one seemed insurmountable. So I chickened out. 

That would certainly explain the overuse of the word scam in this forum. I'm not saying there aren't a ton of real scams, but I see it being used to describe pretty regular coins way too often. I guess it is easier to say a coin is a scam, than a person simply made a bad investment.

I did read about one fellow who was one of those bitcoin millionaires in some article ... I think he paid $25 for btc while he was researching cryptocurrency for a paper. Then forgot about it, and years later found out it was worth like a million or so. It was mentioned a lot, so I expect many here saw it too.

If I had invested in btc, I think the only way I would be a millionaire now if I was one of those people... bought some really cheap and forgot about it. It's so tempting to sell off once a decent profit is made. Instead I vaguely heard about btc around 2010-11ish (I think), didn't know much about it, except for the fact my PC at the time was insanely underpowered, so I had no chance to mine any. Then I forgot about it. I guess the lesson learned for me is, you can't win the lottery if you don't even enter it.

Most likely. In the stock brokerage trade, complaints like that are called "sour grapes." You see that kind of hurt all the time in the penny-stock forums.

But...as the behavioural-finance experts have shown, buying low and selling high is profoundly "inhuman" and hard to pick up unless you're practically raised from childhood to do it. The people who master the skill (to the extent which anyone can) tend to become really cynical as a result.

That's life in the salt mines. So it's not all that hard to see where a complainer is coming from: buy low and sell high is much harder than it looks.

The best thing to do is to get into a coin with a long-term future, hope for the best, and pitch in if you can. There were Bitcoin "bagholders" riding a 90% loss in the tail end of 2011...when Bitcoin was selling at $2. A rising tide bails out people who bought at the top of an interim bubble and have the faith to hold on.

The funny thing about Bitcoin is that some "Bitcoin millionaires" picked up their BTC on a lark in '09 and '10 and then forgot about Bitcoin completely. Strangely, forgetting about it means there's no temptation to sell early on in the bull wave to snap up a nice profit. If there's a journalist around here, the story of the "accidental millionaires" would make a great human-interest-type man-bites-dog item.   

Why not?

I haven't been scammed, I have made alot of btc recently trading country coins and surely some others as well

I guess I'm a smart fuck then

All the scammers reading this thread

Calling losses like that a scam is something I've wondered about, as many here use the term rather loosely. Why do people tend to call unwise coin purchases a 'scam'? Is it looking for someone to blame? Or do you feel that a fault with the coin that lowers its value somehow denotes it as a scam?

Buy shit before other people are buying it and sell a bit when the buyers start coming.  Be a capitalist.

Well lets see:

1 BTC - buying QRK, pretty much worthless now
1 BTC - buying NXT, not worth as much as before
1 BTC - buying EAC, pretty much worthless now
1 BTC - buying WDC, pretty much worthless now
1 BTC - buying MZC, pretty much worthless now

Don't buy pre-mined country coins! FFS! Not Iceland, brazil or any other shitty country! If their president endorses it... maybe... but till then. Fuck em