SCHEMES WHICH NEWBIES NEEDED TO AVOID.

1miau

legendary

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Currently not much available - see my websitelink

Quote from: Asuspawer09 on April 27, 2020, 02:06:48 PM

I think the best thing to describe this is to not invest in shit coins, You should study or do research when you are going to invest in a token or an ICO. Most of the tokens in the market are shit coins because they were just thousands of cryptocurrency in the market which dividing the demand of the community in a token. If you are going to invest in a token that has a shitty team or developer you might just end up investing in a shit token these coins might not even reach the market.

Sure. Without research, investing in Altcoins is risky gambling.
There's a famous term: "DYOR" Do Your Own Research, that people are collecting all facts, what they are buying. It's quite possible to detect a good altcoin when it's still very unknown but that requires a deep research and much experience to know what's important to detect promising Altcoins. For Newbies, I won't recommend that but if one knows the market, it could bring some profits. Same for trading, only few, experienced traders are making profits, most of them lose long-term.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: ultrloa on April 27, 2020, 04:18:09 PM

Quote from: WGM03 on April 27, 2020, 01:38:23 PM

Is this legit or a scam http://www.freebiebitcoin.com">Earn free bitcoin ? For only those who have tried it before.

I never tried to use that site but as far as its free there's no harm with that, the only thing you need to make sure is they didn't require you to deposit such amount to withdraw the free given.

And use a dummy email together with dummy wallet address so that if the site is scam nothing will happen on you.

Lastly try and explore to know if that is legit since experience is a best teacher for you to learn things.

Good luck and be safe.

Actually agree into this one on where the number one rule should always be followed and as said, as long they dont ask for deposit or something then it should be fine.
Experience is one of the stepping stones for you to learn and also be sensible as always on every action you would take and also even common sense would tell you
if somethings fishy is happening.

ultrloa

legendary

Activity: 2758

Merit: 1228

Quote from: WGM03 on April 27, 2020, 01:38:23 PM

Is this legit or a scam http://www.freebiebitcoin.com">Earn free bitcoin ? For only those who have tried it before.

I never tried to use that site but as far as its free there's no harm with that, the only thing you need to make sure is they didn't require you to deposit such amount to withdraw the free given.

And use a dummy email together with dummy wallet address so that if the site is scam nothing will happen on you.

Lastly try and explore to know if that is legit since experience is a best teacher for you to learn things.

Good luck and be safe.

Asuspawer09

sr. member

Activity: 1820

Merit: 436

Quote from: 1miau on April 15, 2020, 05:29:21 PM

It's not a "scheme", but if you want, you can add another point to your list:

SHITCOINS

Usually, Shitcoins are losing value compared to Bitcoin and it's rather risky for Beginners to decide to chose Shitcoins over Bitcoin. I've written an analysis here why holding BTC is less risky for Newbies: Is diversification into different coins really a good advice for Newbies?

And here a short explanation what's a shitcoin (not all Altcoins are shitcoin but 99% are):

Quote from: 1miau on February 25, 2020, 07:55:47 PM

- The coin does not offer any important added value compared to existing coins.
- The coin was mainly launched to bring financial gains to the issuers. (most ICO Shitcoins)
- Excessive marketing praising the coin as a "new Bitcoin" while the technology behind the coin doesn't justify that bold term.
- Centralized coins that deny this fact by their misleading marketing.
- The price is deliberately manipulated by the issuers, by false technical promises or unfair token economics with coins, which are misleadingly deducted from the current supply (high number of tokens (often locked) for the team), etc.
- Coins that undermine the liberal-democratic idea of Bitcoin. (centralized Shitcoins like XRP, Libra etc.)
- If the CEO is a proven liar. (Shitcoin SV)

I think the best thing to describe this is to not invest in shit coins, You should study or do research when you are going to invest in a token or an ICO. Most of the tokens in the market are shit coins because they were just thousands of cryptocurrency in the market which dividing the demand of the community in a token. If you are going to invest in a token that has a shitty team or developer you might just end up investing in a shit token these coins might not even reach the market.

WGM03

newbie

Activity: 1

Merit: 0

Is this legit or a scam http://www.freebiebitcoin.com">Earn free bitcoin ? For only those who have tried it before.

JHORN

member

Activity: 252

Merit: 15

Sovryn - Brings DeFi to Bitcoin

As a newbie I'm already very familiar with many of the scammer schemes OP listed on this thread, fake airdrops, money doublers, MLM and Ponzi schemes still exist today in crypto space and their is no way to escape them fully than using research

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: tvplus006 on April 23, 2020, 04:36:11 AM

I often met such a Ponzi scheme, which the fraudsters are in the form of economic games. You are offered to buy some equipment that will bring you a guaranteed profit every day. In this case, the profit can be up to 100% for 1 day, which directly indicates that this project is a scam. But it is this promised high profit that attracts newcomers to such schemes, which only bring losses to the investor.

Here is an example of what I wrote about:

Quote from: tvplus006 on January 09, 2020, 09:27:51 AM

I also meet this kind of scheme but I don't know if there are still existing right now since most of them already been sold to much and many people avoid in this kind of stuff.

I will update the thread later on and include this on the list since for sure in future many the same like this will pop up and attempt to scam people here.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

I often met such a Ponzi scheme, which the fraudsters are in the form of economic games. You are offered to buy some equipment that will bring you a guaranteed profit every day. In this case, the profit can be up to 100% for 1 day, which directly indicates that this project is a scam. But it is this promised high profit that attracts newcomers to such schemes, which only bring losses to the investor.

Here is an example of what I wrote about:

Quote from: tvplus006 on January 09, 2020, 09:27:51 AM

KrisAlex18

full member

Activity: 742

Merit: 160

Great job buddy, reminding all newbies in this forum is really important, they are not familiar in so many things in crytocurrency so giving advise to them is really great because it will make them invulnerable to be scammed. So to all the beginners out there don't forget to read and understand this post because it is really helpful for all of you, even though not beginners also need this even me because everyone can be fooled by scammers and can be hacked by hackers, so always be careful because scamming and hacking always happen in this virtual world.

But I think this post will be better if you add some advise or things they should do to prevent those things, or some alternatives for them.

Quote from: Baofeng on April 15, 2020, 04:24:54 PM

You can also include the fake give away scams [Warning] Phishing Cryptocurrency Website or fake trading scam [SCAM] Avrobit exchange (and all yellow clones) Alert.

Indeed, that should be also included above there are so many phishing of cryptocurrency in this crypto world. Always be careful on choosing the good website and do not try unsecured websites.

slackovic

legendary

Activity: 2632

Merit: 1239

Quote from: UserU on April 20, 2020, 11:51:40 PM

Actually bounties can also be classified under Shitcoins. The bounty hunters will hardly ever earn in Bitcoin, instead those XYZ tokens that will never materialize.

Not all bounties are bad. There are enough bounty campaigns managed by well known Bitcointalk members that pay in BTC. And the best part is you get payed exactly what they say. It's not like in most altcoin bounty campaigns where they say that the budget is hundreds thousands or even millions of dollars but payed in some shitcoin that's not even listed. And they calculate it's value based on nothing.

UserU

hero member

Activity: 2128

Merit: 532

FREE passive income eBook @ tinyurl.com/PIA10

Actually bounties can also be classified under Shitcoins. The bounty hunters will hardly ever earn in Bitcoin, instead those XYZ tokens that will never materialize.

Taskford

hero member

Activity: 2520

Merit: 783

FAKE AIRDROPS/GIVEAWAYS

The most common things you need to avoid on the platforms who conduct a airdop are the one who ask this following:

KYC: If you provide your personal details to the scammers you might gonna encounter a problem in future since they can use your identity for their future frauds,
Payments: Platform who ask payments for the drops are big red flag since if they are legit they shouldn't ask any conditions before giving it to their participants.
Private key: You will be possibly hacked by them if you mistakenly provide you private key and many people got caught on this so be vigilant always to protect your wallets a never give your private key to anyone.
Log in details: Never register on different platform using the same username,email and password since this can be used to hack your exchanger accounts and Web wallet accounts.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Henri Cartier on April 17, 2020, 08:23:34 AM

I would like to add about the recent Scams about COVID-19 which the FBI also warned about how Scammers targeting Crypto Users. I have shared about this on a different thread, you refer it here - FBI Warned That COVID-19 Scammers Are Targeting Crypto Holders

I have even read that criminals claim to be selling coronavirus-infected blood on the darknet. Nowadays this has become the hot Scams/Schemes which newbies should avoid.

Added on the Thread thank you very much for your contribution Grin

Henri Cartier

full member

Activity: 236

Merit: 117

I would like to add about the recent Scams about COVID-19 which the FBI also warned about how Scammers targeting Crypto Users. I have shared about this on a different thread, you refer it here - FBI Warned That COVID-19 Scammers Are Targeting Crypto Holders

I have even read that criminals claim to be selling coronavirus-infected blood on the darknet. Nowadays this has become the hot Scams/Schemes which newbies should avoid.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Kupid002 on April 16, 2020, 01:34:27 AM

You forget to add scam ICO which is most use scam scheme today and the one you put on the list is the old scheme we use before.

Reasons for scam plagiarsm/ fake team/ fake product.

Another scam ive seen is fake exchange and fake gambling site.

ADDED Thank you for your suggestion

SCAM ICO's

This is the most over used by now since crypto has gain huge popularity and many scammers ride use the opportunity to create their own scam coins/tokens so newbies the first thing you need to watch are this.

Important thing to check,

Team members Identity: Many ICO scammers use a fake identity and people must be aware for this since if they hide or take another persons identity for sure they are scam.
Whitepaper: Check proper if their whitepaper is not plagiarized and have a proper details.
Roadmap: You can check here on what is the plan of the team and where is the project heading in future so proper check if they already achieve on what is written since this could be a red flag if they didn't achieve their plans and jump out to another things.
Fake amount raised: Mostly scammers used this to boost their sales, They put a fake amount raised so that the investors who doubt to invest at them will find them worthy since they show a fake success on their stats.
Origin: Check the country origin since most of the scammers use a wrong location of their offices and fake origin of licenses.

demonica

full member

Activity: 406

Merit: 109

Quote from: slackovic on April 16, 2020, 05:25:51 AM

Like someone on this thread said, scammers can get very creative in creating scam projects. Personally, I think that the best advice for anyone is - if something sounds too good to be true, then it is. That's it. As simple as that.

I'll keep that advice in mind for the reason that I understand how dangerous it is to believe things that seems impossible to happen, like earning huge profit within a day. A person who lacks awareness regarding with the different techniques of fraudsters became the usual victims, like newbies. I've been seeing a lot of people getting persuaded by sweet offers, without the thought of losing money because of being greedy.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: UserU on April 16, 2020, 06:49:35 AM

Quote from: libert19 on April 15, 2020, 11:20:57 PM

Damn, I remember my cloud mining days, there was site named hashprofit I invested some amount, thought it was legit, it was paying, good support, heck, I even thought of taking a loan and investing in it. Then puff, it gone.

Oof. Did you manage to profit at least?

the cloud mining hype a couple of years ago when i started using bitcoin (back in 2014-2015) was identical to the ICO hype that we had during 2017 and it was equally scammy. that means the same way people made profit from ICO scams they could make profit from cloud mining scams too. it didn't make them any less bad though.
the only thing i have ever used was those sites that all you had to do was to sign up and they gave you free hashrate ...

LbtalkL

full member

Activity: 1176

Merit: 162

I want to add sh*tcoin exchanges on the list newbies should avoid it, I was a victim of it a long time ago, sometimes the scenario is, withdrawal is disabled, super huge withdrawal fees compared to top 10 exchanges, low and fake volume, lot of Bots, No customer support. Requires KYC with below $20 withdrawal. I guess one of it is Biup I don't recommend using an exchange like what I have mentioned.

UserU

hero member

Activity: 2128

Merit: 532

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Quote from: libert19 on April 15, 2020, 11:20:57 PM

Damn, I remember my cloud mining days, there was site named hashprofit I invested some amount, thought it was legit, it was paying, good support, heck, I even thought of taking a loan and investing in it. Then puff, it gone.

Oof. Did you manage to profit at least?

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: Baofeng on April 15, 2020, 04:24:54 PM

You can also include the fake give away scams

Yes, those giveaway scams too.

But the scheme are those being posted on twitter and other social media channels (FB, YouTube).

"Send this xx amount to receive this xx amount".

Not just the copycat of exchanges do this but individuals too.

Topic: SCHEMES WHICH NEWBIES NEEDED TO AVOID. (Read 629 times)