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Topic: i'm glad there are so many scams and frauds (Read 4128 times)

legendary
Activity: 2100
Merit: 1040
A Great Time to Start Something!
August 03, 2014, 04:59:35 AM
#44
Well if you have to see a positive in a negative, you can say, it creates employment for law enforcement and security companies.  Grin

They would have been out of a job, if it was not for crime.

The banking service, and other financial services, add trillions of dollars to the governments tax collection, when they have to develop systems to counter fraud activities.

And when they get caught, they have to be locked up and fed. {This too create jobs and expense for the countries}

So yea, in a way, you can say, they create work.  Sad

You are correct about crime creating "employment"
Ironically, if drugs were legal, then there would be much less violent crime and a lot more room in jail for actual criminals.


Police and thieves in the streets
Oh yeah!
Scaring the nation with their guns and ammunition
Police and thieves in the street
Oh yeah!
Fighting the nation with their guns and ammunition...
http://www.youtube.com/watch?v=alI3Vp1zkOQ
legendary
Activity: 1904
Merit: 1073
Well if you have to see a positive in a negative, you can say, it creates employment for law enforcement and security companies.  Grin

They would have been out of a job, if it was not for crime.

The banking service, and other financial services, add trillions of dollars to the governments tax collection, when they have to develop systems to counter fraud activities.

And when they get caught, they have to be locked up and fed. {This too create jobs and expense for the countries}

So yea, in a way, you can say, they create work.  Sad
legendary
Activity: 2212
Merit: 1199
Idiots and inbred imbeciles should not use Bitcoin and computers in general. They will be scammed and stolen. All other free thinking people are welcome and benefit!

So you say that for example all mtgox victims are imbeciles and idiots?
Sometimes you might be inteligent and got scammed too.

I was scammed once (0.1btc) and I don't feel like an imbecile :-)
sr. member
Activity: 1484
Merit: 326
yes agree a lot of people to get anything with fast way include . hacking . scamm . phising . cracking or anything to get investment . data money or data games . thats why need security before come to unfamiliar site
legendary
Activity: 2100
Merit: 1040
A Great Time to Start Something!
frankly, this is a shorter-term macro-education for the larger scams that are able to be perpetrated in the world of money and finance.

seeing this free market with all the little guys playing out the old standards should pretty much harden fools quickly.

edit/caveat: i also don't know what the fuck i am talking about

Are people learning their lesson?
It seems many of us forget too quickly and get careless again, and/or the newbies fall for the newer scams and loan offers.
legendary
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
The scams also help keep BTc price down longer to levels allowing mainstream adopters to buy in relatively low

U cant realy look at it like that; those scams are scaring more adopters than they are bringing in due to lower price.
I agree that on a small scale scams tend to make people more cautios, and making a more secure environment, but good-bad scenarios are more likely to show bad results.
In any case, yet again, another thing that makes the price volatile [+2;daytraders and exchange owners like this]
legendary
Activity: 1218
Merit: 1007
BTC isn't the only currency with scams and frauds.

You can scam and fraud with USD, but of course there are bigger consequences for it.

If you get caught that is.

But yeah, every currency will have scams and frauds that occur. Bitcoin just helps to build trust, as it is irreversible when transactions are made, and requires the trust of the community as opposed to other things.

You could possibly get your fiat back, but BTC is next to impossible to return.
member
Activity: 84
Merit: 10
BTC isn't the only currency with scams and frauds.

You can scam and fraud with USD, but of course there are bigger consequences for it.
legendary
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
IMO scams suck any way you look at it.   Just because someone is not as intelligent as the next, doesn't mean that he/she deserves to be stolen from.   Many people say that it is their own fault for not doing their due diligence...still doesn't make it right...
legendary
Activity: 1789
Merit: 1008
Keep it dense, yeah?
An example is the Mt Gox scandal. Everyone were warned that keeping Bitcoins in the exchanges is not a good idea. But the greedy ones never listened. They wanted to make quick money, by short selling their coins.

I disagree with that. I mean, yes, you're right about keeping coins on an exchange - there is an associated risk with doing that, but what went down with Gox wasn't a case of people leaving their coins/money on the exchange on a regular daily basis, it was a case of leaving their coins/money on the exchange when there were warning signs that things could turn sour.

Somebody who had a routine of shifting their coins at the end of the day, every day could have still fallen foul to the lockdown they put on withdrawing coins.
hero member
Activity: 812
Merit: 500
good thing i believe.

Separates idiots form their money.
sr. member
Activity: 406
Merit: 250
The scams have value in that late comers to bit coin like myself can read about them on these forums and be smarter as a result. In a free market people are unfortunately more susceptible to such things but freedom can be messy.

It basically hasn't got much to do with bitcoin. Scamming people happens everywhere where money is involved. Bitcoin is making it easier to scam anyone around the world and have irreversible transactions, granted. But it's nothing someone coming late to the Bitcoin party has to learn. It's plain and simple a bad thing and nevertheless will happen over and over again everywhere in the world because that's how people work unfortunately Sad

It is a bit of an adjustment though from the seemingly safer world of being able to charge back credit card transactions or have banks reverse fraudulent transactions. The current fiat system makes it easy to be dumb because there is usually a recourse if you get scammed.
sr. member
Activity: 378
Merit: 250
FURring bitcoin up since 1762
The scams have value in that late comers to bit coin like myself can read about them on these forums and be smarter as a result. In a free market people are unfortunately more susceptible to such things but freedom can be messy.

It basically hasn't got much to do with bitcoin. Scamming people happens everywhere where money is involved. Bitcoin is making it easier to scam anyone around the world and have irreversible transactions, granted. But it's nothing someone coming late to the Bitcoin party has to learn. It's plain and simple a bad thing and nevertheless will happen over and over again everywhere in the world because that's how people work unfortunately Sad
sr. member
Activity: 434
Merit: 250
one thing about bitcoin is that you can steal a whole lot of money from someone on the other end of the world, and it would be really hard to track the culprit down. another not-so-great byproduct is that kidnap for ransom can be done much easier now - you don't need to meet with anyone to get the money. once you receive your btc, you can release your abductee.
sr. member
Activity: 406
Merit: 250
The scams have value in that late comers to bit coin like myself can read about them on these forums and be smarter as a result. In a free market people are unfortunately more susceptible to such things but freedom can be messy.
sr. member
Activity: 434
Merit: 250
no, these scams are not a good thing. it's a net negative in that it deters people from being open to bitcoin.
hero member
Activity: 661
Merit: 502
Quote
Hmm... two type of people fall victim to scams.

1. The non-tech savvy
2. The greedy

...I don't care about the second type.
So greedy victims deserve more punishment than the scammer?

I don't think he ever implied that, he just said that the two people who fall for scams are either people who don't understand what they're getting into and the people who want to be greedy and believe everything they see.

"A fool and his money are soon parted"

I personally think if you are greedy enough to think that a website can offer you 30% interest every day and all you have to do is send them your money, then maybe you need to have a long hard think about what you do with your money.
member
Activity: 79
Merit: 10
Quote
Hmm... two type of people fall victim to scams.

1. The non-tech savvy
2. The greedy

...I don't care about the second type.
So greedy victims deserve more punishment than the scammer?
sr. member
Activity: 378
Merit: 250
FURring bitcoin up since 1762
I gotta add, just remember to remain emphatic and keep in mind that we're always talking about people, living human beings here. Even if they haven't done their due diligence and fell for a crappy scam, keep in mind to feel sorry for them! It's always a sad things for someone and they feel bad about losing their money!
hero member
Activity: 661
Merit: 502
It has it's pros and cons. People who constantly want to trash Bitcoin will use the fact that it's not reversible as their excuse to dismiss Bitcoin, as if scams like that don't happen with fiat money.

Hopefully people learn to use escrow or at least deal with people that can be held accountable through legal avenues. 

Even trusted member would scam you with thier trust like Project and the other .

They just get more trust and go for the bigger scam .

Of course, anyone hiding behind a computer can decide to scam you after building trust but if I recall correctly there is legal action being taken against Projects in order to recover the lost funds.

What can be done he took the coin and run off , its annomynous

He left a lot of traces to his real identity - apart from the obvious scare factor I see no reason why trusted members would say there have been advances in legal proceedings against him. Bitcoin isn't anonymous, it's pseudonymous.

You can prove an entity owns x address, but you can't prove an individual owns x address unless there is a real identity linked to it, for example sending funds to an exchange where you are verified with ID proves you own that address since you can send funds from it (although not always because anyone command someone else to send coins on their behalf). Your leaving a verifiable trace.
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