anything related to money always attracts scammers. Rise in bitcoin value further lured more scammers.
That said, I am not seeing any significant reduction even after the value dropped by 70%.
Topic: Too much scamming in Bitcoin - page 4. (Read 4485 times)
That said, I am not seeing any significant reduction even after the value dropped by 70%.
Increased scamming = Increased interest
anything related to money always attracts scammers. Rise in bitcoin value further lured more scammers.
I really matters what YOU are doing with your BTC. I have a good friend I got into it and he is not interested in trying to mine, securities, group buys or anything like that. He travels abroad and is going to try and use it in actual commerce. He is hoping to find a pub, coffee shop or restaurant around his hotel in which every city/country his is in and have a spot to check out instead of just opening the phone book or using hotel reference to find some where to eat or drink after a meeting. Sure, your wallet could always get compromised, but again if it does, that is mostly your own fault. He has yet to have a transaction, but I doubt he is going to have to worry about being scammed.
Just my BTC0.00004719
Just my BTC0.00004719
Advise your good friend that Bitcoin's an "internet currency" and that brick & mortar usage of Bitcoin is a bit of gimmick at this point. One should realize that Bitcoin is a protocol like e-mail and that its properties differ from fiat currencies like the USD and commodities like gold.
If traditional currencies are a butter knife then Bitcoin's a Swiss army knife. True, it's easier to butter your toast with a butter knife but it doesn't have the versatility of the Swiss.
This video I found in another thread is the perfect example of doing Bitcoin wrong and making it look like a gimmicky scam. https://www.youtube.com/watch?v=vnm4xFC2xNo
Actually it's probably worse with fiat, if you take Federal Reserve, taxation, inflation from printing more money, and other malfeasance into account.
Remember. Bitcoin has been in active circulation for less than 3 years now. And almost all of the scams have occurred during the last 2 years. Can any currency survive, when 30% of its market cap has been scammed in just 2 years?
Counterfeiting is easiest at the outset of a fiat currency. How many of those have survived?
First MtGox disapears with an BTC fortune and then Neo Bee. Besides them, there are countless mining companies that never refund their clients on empty promises. Sadly, in generall there is to much scamming going on in the BTC to get this mainstream! Noone want to get ripped off. Especially on his/her first encounter with BTC. And sadly, right now, too many people encounter a scam as their first encounter with BTC.
Sane people know that scamming has nothing to do with Bitcoin as a technology. Too bad there are low number of sane ones, sadly...
look how scammy the internet was 10-15 years ago, premium rate dialers on every pop up, online credit card hacking ect,
Actually it's probably worse with fiat, if you take Federal Reserve, taxation, inflation from printing more money, and other malfeasance into account.
Remember. Bitcoin has been in active circulation for less than 3 years now. And almost all of the scams have occurred during the last 2 years. Can any currency survive, when 30% of its market cap has been scammed in just 2 years?
Sadly that is the case with anything valuable. People have to understand the risks and how to protect their money
The amount of total scammed Bitcoins might be more than 3 million (around 30% of all the Bitcoins), if we add the wallet hacks as well. This much scamming never happens in any other currency. One of the biggest disadvantages of Bitcoin.
Actually it's probably worse with fiat, if you take Federal Reserve, taxation, inflation from printing more money, and other malfeasance into account.
Yes.
BTC is still much better than fiat in almost every way.
The amount of total scammed Bitcoins might be more than 3 million (around 30% of all the Bitcoins), if we add the wallet hacks as well. This much scamming never happens in any other currency. One of the biggest disadvantages of Bitcoin.
Actually it's probably worse with fiat, if you take Federal Reserve, taxation, inflation from printing more money, and other malfeasance into account.
The amount of total scammed Bitcoins might be more than 3 million (around 30% of all the Bitcoins), if we add the wallet hacks as well. This much scamming never happens in any other currency. One of the biggest disadvantages of Bitcoin.
+1 then there are smaller ones all the time like coinmarketio coinex etc just in the last few months seems like one every week.
The amount of total scammed Bitcoins might be more than 3 million (around 30% of all the Bitcoins), if we add the wallet hacks as well. This much scamming never happens in any other currency. One of the biggest disadvantages of Bitcoin.
I'd like to add that both Neo & Bee and MtGox had NUMEROUS signs ahead of time that something was not right.
For Neo & Bee, it was their business model/strategy, which depended on bitcoin's value going up, which is obviously unsustainable.
For MtGox, I don't get why people thought 'withdrawals in a few months or..y'know..whenever' was ok?! If they're not paying out what YOU deserve, you immediately voice your concerns (as most did) and do not use them again.
BTC-E, as much as some say 'do not trust them', I think is ok. They have a good model going, and I respect their desire to be anonymous. This also helps them avoid regulation scrutiny and risks as Mt. Gox learned when the government seized 5M worth last year. Also, they are very dedicated to working and improving their platform and that speaks volumes about the service and management.
In general, with any service you use, with fiat or bitcoin, try it with a few coins to start, if everything works out okay, invest/deposit/trade/bet more!
For Neo & Bee, it was their business model/strategy, which depended on bitcoin's value going up, which is obviously unsustainable.
For MtGox, I don't get why people thought 'withdrawals in a few months or..y'know..whenever' was ok?! If they're not paying out what YOU deserve, you immediately voice your concerns (as most did) and do not use them again.
BTC-E, as much as some say 'do not trust them', I think is ok. They have a good model going, and I respect their desire to be anonymous. This also helps them avoid regulation scrutiny and risks as Mt. Gox learned when the government seized 5M worth last year. Also, they are very dedicated to working and improving their platform and that speaks volumes about the service and management.
In general, with any service you use, with fiat or bitcoin, try it with a few coins to start, if everything works out okay, invest/deposit/trade/bet more!
I really matters what YOU are doing with your BTC. I have a good friend I got into it and he is not interested in trying to mine, securities, group buys or anything like that. He travels abroad and is going to try and use it in actual commerce. He is hoping to find a pub, coffee shop or restaurant around his hotel in which every city/country his is in and have a spot to check out instead of just opening the phone book or using hotel reference to find some where to eat or drink after a meeting. Sure, your wallet could always get compromised, but again if it does, that is mostly your own fault. He has yet to have a transaction, but I doubt he is going to have to worry about being scammed.
Just my BTC0.00004719
Just my BTC0.00004719
This. Get rich quick=get scammed immediately. Buy and sell stuff with BTC and escrow if you can't use the WoT.
The number of scams has actually decreased from what I can tell - its just that the mtgox one was so big.
There seemed to be a new scam every week in 2012.
There seemed to be a new scam every week in 2012.
There is so much scamming with email. I get scam emails everyday, but email is still mainstream. Same with credit card scams, but credit cards are still mainstream too. Scamming is not the problem and won't hold bitcoin back.
I really matters what YOU are doing with your BTC. I have a good friend I got into it and he is not interested in trying to mine, securities, group buys or anything like that. He travels abroad and is going to try and use it in actual commerce. He is hoping to find a pub, coffee shop or restaurant around his hotel in which every city/country his is in and have a spot to check out instead of just opening the phone book or using hotel reference to find some where to eat or drink after a meeting. Sure, your wallet could always get compromised, but again if it does, that is mostly your own fault. He has yet to have a transaction, but I doubt he is going to have to worry about being scammed.
Just my BTC0.00004719
Just my BTC0.00004719
First MtGox disapears with an BTC fortune and then Neo Bee. Besides them, there are countless mining companies that never refund their clients on empty promises. Sadly, in generall there is to much scamming going on in the BTC to get this mainstream! Noone want to get ripped off. Especially on his/her first encounter with BTC. And sadly, right now, too many people encounter a scam as their first encounter with BTC.
and in the wild west, there were bank robberies everyday, there were railroad and stage coach hold-ups at gun point demanding peoples gold.
then this century there is the government stealing wealth buying mansions on their high pay, then telling everyone that the 'people' are in debt, and its all the fault of the unemployed (who get less then minimum wage)
then theirs HSBC doing criminal acts, Cyprus banks taking peoples wealth. mastercard banning customers.
there are 171,000 tonnes of gold in the world. do you know how much gold was stolen by bandits in the wild west, by hitlers army during WW2, by banks and governments more recently
gold has more of a "theft" taint percentage (based on numbers currently mined) then the bitcoin % stolen
WOW! That only make the market cap of gold at $7T.
The thefts help prove BTC has real value.
Now people need to be more careful with their precious, rare BTC.
Now people need to be more careful with their precious, rare BTC.
That's the beauty of this paradox. No one steals worthless stuff.
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