First let us be clear that Bitcoin itself isn't a scam. It only becomes an instrument to the actual scam itself regardless on what kind shenanigans it is.
It doesn't just apply in the internet, OP. Scams were already happening outside cryptocurrency without even using the internet. Investment also happens outside the internet and there were scams happening and yet people still keep gambling on doing those anyway. People will still put their money inside the internet because it is already the convenient one to even pay overseas without the use of credit card/debit card.
Topic: Isn't scammers a huge stopper to the internet (Bitcoin) (Read 431 times)
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We already saw that in the cryptocurrency, there is a big number of scammers that is ready to steal other people money. We already know and maybe read the bad news about scamming other people by using one or two programs, but some scammers use a project to attract the investor so they can get bigger deposit which they can use it and run away from the investor. So we need to be careful if we want to join in one or many projects and make sure that we know how good the project.
Right from time immemorial scamming have been I'm existence just that the coming of the internet made scamming across borders easy because they can make contact with victims any where in the world because the internet made the world a global village. And cryptocurrency as the currency of the internet is the currency which scammers fine very easy to steal because of it anonymous nature and this is what have given cryptocurrency the bad image we are seeing today.
its all there even when bitcoin weren't created yet. the worse paypal scam i've encounter resulted to have a negative -$11k in my paypal account. tracked down a scammer from another country which involve a fellow countrymen too. can't say bitcoin made it worse but they are very technical these days and bulgar too that they can even threaten you. internet still goes on even after all these scams. nothing stops.
Internet exists or not, scammers are everywhere. Surprisingly, they are really very wise on how to fraud people just for their own benefits. Cryptocurrency is really famous nowadays, that is why they entered this kind of thing, too. We cannot stopped them and they are not the reason to stop the internet. The only thing we have to do to prevent scammers is to be vigilant enough, not to easily allowed ourself in unsure crypto-related projects.
Since internet discovery and the anonymity it provided scams started popping everywhere on the web and became something that we are used to and encounter more often than we would notice. with time we became more aware and started watching our step to avoid them as we noticed with soreness that there is nothing one can about it by itself, but here we are, cryptocurrencies got created and spread on the web easing people's life with its smooth and useful features and here we are again riding the same wave the scammer but this time there is big at stake, as this could prevent a whole industry to blossom and reach it real potential. if we look at it having in mind the perspective that crypto is bond with the internet then there will be really big challenge to make this place more secure where even the naive one could carry on with their business. in fact if cryptocurrency would need to attract more people in order to reach mass adoption and maybe become worldwide (while still prioritizing its values in that case decentralization among others), it will be a requirement to have a secure place. but challenges are made to be taken and maybe cryptocurrency will bring solutions for old issue like scams
First of all bitcoin is the solution for scam happening in remittance industry it was the solution . Scams not only in crypto currency or bitcoin it was there in much regulated equity or futures stock exchange I witnessed lots in there . Hope there will be solution in future as you said . 
I don't think it can completely erase scammers. There are few types of scammers, some of them are just too lazy to learn new things and others are always following the technology. Lazy scammers will eventually be deleted from this space by blockchain technology but the rest of them, the ones who always improving their skills would still be exist forever. I admit that with the development of blockchain technology, there will be less scammers. But it doesn't happen now, perhaps in the future.
scams have been happening for as long as the human race existed and laziness was a part of its nature. probably in stone ages when man found fire, someone scammed him and stole his fire too! but scams have never stopped anything because they only target a certain types of people, the idiots who believe anything. and they only shape up a small part of any community.
being secure is not about whether someone pulled a scam or not, it is about how easy it was to pull that scam. for example being secure for bitcoin means whether you can steal someone else's bitcoin from their wallet not whether it is easy to fool them into giving it to you.
in fact if cryptocurrency would need to attract more people in order to reach mass adoption and maybe become worldwide (while still prioritizing its values in that case decentralization among others), it will be a requirement to have a secure place.
being secure is not about whether someone pulled a scam or not, it is about how easy it was to pull that scam. for example being secure for bitcoin means whether you can steal someone else's bitcoin from their wallet not whether it is easy to fool them into giving it to you.
Cryptocurrency is just a material for their illegal works, just like scams and networking outside they uses different materials for their illegal works so we should not blame the crypto for the loss of people's investments and dont throw the blame to the people because they are also the victim the best thing to do is to share every scam project that we may encounter to prevent the further damage to the people.
We have to admit that in 2017, scams are very rampant in the crypto space because of scam ICOs. This puts a bad reputation to every crypto ICO affecting not only altcoins but including bitcoin.
But we also have to consider that scams are not limited in the crypto space but part of any industry. Saying so, the problem is not in crypto or bitcoin but with gullible and greedy individuals who easily get fooled by scams. The solution lies in the proper education of how cryptocurrency works and how to spot scam investments.
Even with rampant scams online, I doubt it will be enough to stop bitcoin from prospering.
But we also have to consider that scams are not limited in the crypto space but part of any industry. Saying so, the problem is not in crypto or bitcoin but with gullible and greedy individuals who easily get fooled by scams. The solution lies in the proper education of how cryptocurrency works and how to spot scam investments.
Even with rampant scams online, I doubt it will be enough to stop bitcoin from prospering.
I am not sure if scammers can be stop knowing that there are many types of scammers. Inside job can be consider also a scam, brute force and many other attacks that came from a professional hackers is what I am worried about.
As we cannot assure that our current security can hold all the attacks especially if this attack came from a government. And with regards to decentralization there is a chance that it can fight all the scams that are popping out there if it can be use wisely.
As we cannot assure that our current security can hold all the attacks especially if this attack came from a government. And with regards to decentralization there is a chance that it can fight all the scams that are popping out there if it can be use wisely.
Scammers are everywhere. They are in needs of money and we dont have any control about it. Even when there are no internet or Bitcoin it is already existing in many ways.
First and foremost, we have to understand that scams, frauds and deceptions can be happening to any industry and definitely this is not an exclusive issue with the world of cryptocurrency. There had been so many financial frauds in the modern human history and there were even involving banks and financial institutions to the detriment of their many victims. Now, scams and frauds became easier and even went global with the coming of the internet and then now with cryptocurrency.
Yes, this is a big issue that the whole industry should be concerned about. However, there is nothing we can do with individuals who opted that their calling in life is to fool other people and their fat wallets. So is there is something we can do individually? Yes, we can start to be smarter so that we don't become another victim of these evil people. In 2017, ICOs became so popular and since the market is decentralized it became the venue for many scammers to sell their projects and then just fly away. Now, as part of the response to maybe minimize the problem, we now see STOs and IEOs which are considered to be better though not yet a big guarantee that scams will never happen. Sadly, we can never do away with scams completely.
Yes, this is a big issue that the whole industry should be concerned about. However, there is nothing we can do with individuals who opted that their calling in life is to fool other people and their fat wallets. So is there is something we can do individually? Yes, we can start to be smarter so that we don't become another victim of these evil people. In 2017, ICOs became so popular and since the market is decentralized it became the venue for many scammers to sell their projects and then just fly away. Now, as part of the response to maybe minimize the problem, we now see STOs and IEOs which are considered to be better though not yet a big guarantee that scams will never happen. Sadly, we can never do away with scams completely.
I agree, scam has been happening even before bitcoin started but bitcoin being a digital money, most people associate it to scam even without really knowing but cryptocurrency or bitcoin is. Considering that there are few regulations present for bitcoin I think as individuals we should be responsible as well in securing our coins ourselves and be smart enough to determine scam from legit ones.
Scammers has been around even before the internet era started. I remember receiving mails (literal) saying something about gold bars stored somewhere and needs to be moved somewhere and I csn help out and I will have portion of it. Fast forward 2019, scams are still the same. Only difference is the way its delivered and type of scam but still its a scam. We havd to educate our selves about this kind of schemes to protect ourselves and always remember, if its too good to be true, then its a scam.
Scammers in the crypto ecosystem feed and thrive on the ignorance of people who have little knowledge and understanding on how the entire crypto space operates and the security precautions used and needed in this space. They utilize your level of ignorance to their advantage and scam you off the little you have in your wallet. Once you allow yourself to be ignorant of certain basic things of the crypto space, you will definitely be a victim.
The scammer is at anywhere, online or offline.
And with the growth of the internet, this will open a big chance for the scammer to trick or lie many people just to get their money and then run away.
We could prevent them by always careful, but that will not always work because they will always search for new ways to scam people.
The will always search for the new target because they believe that there will be new people who want to know about anything and that will be their next target to get their money, so be careful.
And with the growth of the internet, this will open a big chance for the scammer to trick or lie many people just to get their money and then run away.
We could prevent them by always careful, but that will not always work because they will always search for new ways to scam people.
The will always search for the new target because they believe that there will be new people who want to know about anything and that will be their next target to get their money, so be careful.
Yes it is the scammers who are the main reason why people are afraid of crypto or hates crypto.
It is also the reason why people think that crypto is a scam this is what most people's mistake when they don't know about crypto currency.
They would call it scam just because of those scammers investment or any schemes.
It has been a huge issue and not just on the internet but also in real world.
Crypto just made it easy for them because of it's anonymity for the users.
It is also the reason why people think that crypto is a scam this is what most people's mistake when they don't know about crypto currency.
They would call it scam just because of those scammers investment or any schemes.
It has been a huge issue and not just on the internet but also in real world.
Crypto just made it easy for them because of it's anonymity for the users.
We can never eliminate the number of scammers but we can do something to not all for their trap. We should be smart, observant, keen and wise as we deal with people or even different online sites around us. If we can't keep them away then we should be the one to stay away from them.
People aren't fulfilled with what they have, and when they try to make money in a short time automatically they find scamming others to be the best choice. Internet provides access for these people to do what they intend with ease. We need to be more careful in handling each and everything in the internet which will keep ourselves away from scammers.
Since internet discovery and the anonymity it provided scams started popping everywhere on the web and became something that we are used to and encounter more often than we would notice, with time we became more aware and started watching our step to avoid them as we noticed with soreness that there is nothing one can about it by itself, but here we are, cryptocurrencies got created and spread on the web easing people's life with its smooth and useful features and here we are again riding the same wave the scammer but this time there is big at stake, as this could prevent a whole industry to blossom and reach it real potential, if we look at it having in mind the perspective that crypto is bond with the internet then there will be really big challenge to make this place more secure where even the naive one could carry on with their business, in fact if cryptocurrency would need to attract more people in order to reach mass adoption and maybe become worldwide (while still prioritizing its values in that case decentralization among others), it will be a requirement to have a secure place, but challenges are made to be taken and maybe cryptocurrency will bring solutions for old issue like scams.
First and foremost, we have to understand that scams, frauds and deceptions can be happening to any industry and definitely this is not an exclusive issue with the world of cryptocurrency. There had been so many financial frauds in the modern human history and there were even involving banks and financial institutions to the detriment of their many victims. Now, scams and frauds became easier and even went global with the coming of the internet and then now with cryptocurrency.
Yes, this is a big issue that the whole industry should be concerned about. However, there is nothing we can do with individuals who opted that their calling in life is to fool other people and their fat wallets. So is there is something we can do individually? Yes, we can start to be smarter so that we don't be another victim of these evil people. In 2017, ICOs became so popular and since the market is decentralized it became the venue for many scammers to sell their projects and then just fly away. Now, as part of the response to maybe minimize the problem, we now see STOs and IEOs which are considered to be better though not yet a big guarantee that scams will never happen. Sadly, we can never do away with scams completely.
Most scams attempts could be avoided through education towards the risks: examples are ponzi schemes, weak icos and their respective altcoins, hyips, phishing mails, putting money in unknown sites.
It's possible to reduce the scams occurrences, and to track dangerous scammers (such hackers) with more effort and technique, with the help of technology, but it's not possible to have a beautiful perfect world where everyone is nice and kind.
And of course, as you said, the market tend to find safer ways to make business, as we have the icos example, that is slowly changing to ieos. It's a kind of improvement aiming the security and positive experience of investors.
I totally agree with that but basically i refer to the internet as a whole and cryptocurrency which will have to thrive in a poor environment. in the time being everything is going smoothly, but in a possible future when bitcoin would have billions of user, a way would be needed to drastically reduce scam case and i am not talking about STO cuz it is not dealing with the origin of the problem (anonymity). as it was for traditional bank system it will take time to come with some solution to really institutionalize the industry(but not in the wrong way). indeed i think everyone need to become smarter as money processing are evolving, i guess this is how things are.
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