Topic: When I first heard of Bitcoin and How it scared me (Read 286 times)

It happened to most of us, even me when I heard of Crypto-Currency, I was thinking that it was a method used by the internet fraudsters to scam the innocent people in the world of Internet. I used 3 years to a abandon it and 3 years to observe it and trying to learn more about.


In this process of I move into scammers and they scan me

There are many perceptions outside that bitcoin is considered profitable and also a scam. especially with the many cases of fraud in the crypto world, it makes the Crypto world even more tarnished. It's not the fault of BTC or other cryptos when we experience losses, but back again with ourselves how we manage the assets we have, whether it's good or not. That's why before entering the crypto world, people must have good knowledge so that they can defend their assets and survive in the unpredictable crypto market. most of the cases of loss in crypto are due to fraud and also greed. so my advice we must be self aware and be more careful in playing crypto.

I practically held my breath when I got to that point in the quote and hoped you didn't succumb. Sadly, you did. You learnt your lesson anyway. I'm always of the opinion that those who fall prey to such scams are greedy, and that's rightly so. So, in your right thinking mind you actually thought someone could double your investment from $200 to $2500 within 24hrs and they couldn't do it for themselves or their families? The ROI promised was out of imagination and only Ponzi schemes can promise such. I once fell for such trick as a noob but it was for something far less.

Your account was registered in this forum in 2014 and you didn't earn any Bitcoin till 2016? Are you kidding me? It's kind of hard to relate, anyway. Except you just registered and then left without being active on the forum.

I'm responding this through the subject sentence ( headline) i know from the beginning many people who did not understand concept of cryptocurrency was afraid of bitcoin because of lack of trust, but now it's a currency that has become more influential to the society, when it was first created in 2009 it's only few people that know it potential, so from the knowledge someone have acquire in cryptocurrency sphere no time you come into the space of bitcoin is late or waste.
 
You heard information of someone that achieve two thousand dollars ($2000) from Bitcoin, yes" it's possible that you can make well in cryptocurrency especially bitcoin when you give it concentration, in cryptocurrencies investment, adventuring into Trading can as well give you profit, adventuring into long term investment can as well give you hugs profit..so it's base on your areas of base or concentration that will determine your acceleration or your elevation via profit and lost that's into investment.

At the very first moment I was shown the proof of earning bitcoin and exchanged into my local fiats in 2016. This brought me confidence then and there. What else we need to proof the existence of Bitcoin except the transaction history. At the same time I was introduced to bitcointalk.org. Since then, yes I am here and I am so gratitude to this forum and to my friend who introduced me to the crypto. Hats-off to the founder of Bitcoin.

fear of the unknown is a natural thing that comes as a safety net for us humans.
I had my doubts if bitcoin will ever take off as it was not from a central government which mearnt many will not be intrested in it, but 10 years later look at how this asset is the most sought after

I will add a third way: using logic to understand this sounds like an outright scam.  It takes years or decades for billionaires to double their net worth yet a random website or Telegram user promises double fold within a day?

On a positive note, this can be taken as an education course that cost $200.  Unfortunately too many scams happened to a much higher degree of financial loss.

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Regards,
PrivacyG

I'm sorry to hear such experience. It is always like that to most newbies who doesn't have someone to teach them about what should we avoid and not to avoid but also not thinking the things not might seem not possible to happen. After all, some platform use such scheme to make people trust them before taking their money just like your experience. Since you experience being scammed then I think you'll know what to do next time and not get scammed.

Edith1994, I'm sorry for your very bad initial crypto experience.
Unfortunately, many people hear something about crypto, and then without enough knowledge and experience they try to earn something and it usually ends badly.
In real life, if you want to do any job, you have to have the necessary knowledge and experience, qualifications, a school diploma etc.
The crypto industry is based on the same principles, so I advise you to study all the available information well before making a decision.
You have come to the right place because there are a lot of experienced members here who can help you with their advice.

I guess it's part of your progress from learning in mistakes, not all the time we gain profit from the investment we made. Still, at the end of the day, we need to manage the risk to the investment. If you want to make an investment into different projects make sure you are already prepared with the information, details, and future they have because we are into the market world promise is just a normal thing, some of them make a scam and some of them make a good future for the project. One of the coin you can still trust is the bitcoin it never fails our expectations but again its volatile and manage your risk.

People who embraced Bitcoin earlier where those who were opportune to either read satoshi's white paper to understand hs mission or those who attended seminars of crypto experts who might have understood the concept Satoshi introduced or those who were just investing feeling it was ponzi but what ever their motive the all made big return. For me I missed out on different opportunities to buy because I was too careful not to be scammed but when I had the opportunity to grab the white paper I bought the idea and joined from where I met the price

That's true, all of us here made a mistake when we were still newbies. Like a loss through a scam, through wrong way of trading. We're all from the down with those experiences but it has taught us a lot but it doesn't mean that we should give up.

Experiencing these things makes us a better person and helping us to gain more knowledge on certain things which we're really going to benefit in the future.

That's the spirit, learn from the past and this experience and shall help you to go further with cryptocurrencies.

thanks for your concern, I believe one thing in life that in every successful man and woman there must be a story to tell and in that story there is a lesson and in that lesson there is a teaching and in that teaching there is something to learn.i have learnt alot from my mistakes and that get me going and I'm so happy.
I believe people learnt there lesson in different ways.

I'm happy because my mistakes  makes me  understand more about crypto currency, it makes me keep going and never give up, it make me understand that they are ways, keys, risks and strategies when it comes to investment.

Sorry for that loss that you've made Edith.

Scammers are really everywhere and your first thought and feeling for that platform is correct of being too good to be true. Talk to that friend of yours, maybe he's with that scam company.

Remove your interest into scam investments in telegram, whether they pitch you with a more reasonable rate. Just don't ever invest and deposit if it's coming from there. It's better to buy and just HODL, you don't need to do anything after buying.

You are just placed at the wrong platform when you first heard about it and what you experience from the past can be a good learning experience to you, also since you encounter that already then maybe this is your indicator that you can't trust anybody on internet. Also remember this always there's no people or a group will give you a profit for just handing them a money for long period of time since if they are really earning they will keep that for theirselves and will not share to anybody on what they are doing only scammers promise to give you a good return of investment if you trust them especially when they ask more higher amount of money.

Many also have similar experiences where they were interested in Bitcoin because of seeing so many people successful and richer because of Bitcoin.
Moreover in 2017, Bitcoin was very booming because of the high rises experienced by Bitcoin. Many people entered into Bitcoin at the top rate of the price before the bullish ends and then many people lost their chance to take profits and become losing their money.
Some got the value of the lessons. But, some hate Bitcoin so much, telling about Bitcoin as a harmful thing, scam, ponzi scheme, and others.

All of your experience with Bitcoin can be very valuable lessons for you yourself and also others. We can see some chances may be still with us by repairing the condition with another chance. Investing in something new is risky, but if we want to analyze and learn mroe about it, we may enjoy and be successful because of it.

The only trade off with being scammed for the OP, and any other users that get scammed, is they'll be much more cautious, and suspicious in the future, which will likely protect them  from losing more funds to scams. Sometimes, it doesn't matter how you learn, as long as you do learn. Obviously, not promoting scammers or getting scammed there, but what I'm trying to put across is the earlier you get "educated" as you put it, the less likely you're to have a big wealth in the first place, and therefore if you do amount a decent fortune later on in Bitcoin, you'll be a little more wiser.

Obviously, getting educated before being scammed is the best way, however I think a lot of users find out the hard way unfortunately.

Your testimony is too long to read but i did and based in what I read you are getting scam right? Why is this happen ? Because you are thingking their profit  would you imagine that you are investing an $200 and in the next 24 hours  it makes $2500 which is a very big income if you think and you are greedy  enough, and  invest your money without doubt without thinking what company did that kind of offer that give you 2300 dollas with in 24 hours why should they do that? For sure they will not earn any income.

Sad to hear that Edith1994 that you got scammed on the first time where you was coming into Crypto and Bitcoin.
Thats for sure not got start to get into BTC but i guess you learned your lesson on this , and we all have learned our lessons in the past.
You are on the right place now here in the Forum , but also here watch out and keep you eyes open , specialy for links and downloads .
Check them a few times and if dont know just ask.

First, you need to know that Telegram is a home for scammers, associating yourself with bitcoin through telegram is like setting trap for yourself, I don't go there except for my bots notification.
If you are open to learning, there are plenty of bitcoin books that will guide you, there are many of them on the bookshelf created by Ratimov, Beginners & Help Encyclopedia [UPD: +Electrum Board] ^[1]
I also practically learn from Learnmeabitcoin^[2] and the famous mastering bitcoin^[3] by Andreas M. Antonopoulos, you will love these materials, trust me. Try and also visit Development & Technical Discussion board,^[4] the threads are never boring.
Sorry for your loss!

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[1] https://bitcointalksearch.org/topic/m.58120908
[2] https://learnmeabitcoin.com/beginners/
[3] https://oiipdf.com/mastering-bitcoin-programming-the-open-blockchain-oreilly-2nd-edition-2017
[4] https://bitcointalk.org/index.php?board=6.0

Well this is why the telegram scams are a thing. People fell for them. I have yet not regretted reporting and blocking anyone who had financial offer for me in telegram. Well sometimes i waste their time a lot by being difficult catch and making up some weird excuses to make them work more.

Well, it's quite unfortunately that I couldn't read through the whole wall of text but atleast I got the most important points... I'm sorry for your loss first of all; you see, it's either you read and learn before starting anything you wish or painfully come back to study the same thing after spending alot for your mistakes; I'm not gonna really blame you  for not getting to know alot about what you got indulged in cus I dunno 'how' and 'who' introduced you to it and 'where' but there's no time to keep regretting about what has been done already, just go ahead and do the right thing since you came into the realization that you followed the wrong path,...

People usually learn their lessons in 2 ways.

The easy way: by educating themselves and reading a lot.
The hard way: by getting scammed.

Looks like you fell for the latter. Look at the bright side — you've already been a victim, so do all you can to make it never happen again. Fortunately — while it's still money, thankfully it's not like-changing amounts of money.

Educate yourself:

https://notyourkeys.org/
https://cryptosec.info/scams

It's always like that I guess if you are a newbie, I've been a newbie in the past and investing without a knowledge will lead you to get scam easily. I guess common sense won't hit until you experience first what is the feeling of being scammed so we should learn our lesson if we don't want to get scammed again and always do your own research.

One thing that pushes us to go on a risky investment is greed plus the lack of knowledge is a common recipe to get scammed. And I agree that the internet is full of scammers since almost everyday scammers are evolving not just the technology.

I'm sorry for your loss, but even more sorry for your lack of common sense. Haven't you ever heard that the internet is full of scams? Why would a stranger want your $200, legitimately? Why wouldn't they use theirs and enjoy the $2500 themselves?

Use your head, buddy.

When I first heard of bitcoin was in the year 2019. I didn't know much about crypto then, I just felt it was something that will just come and go like the many other schemes in the past. I never knew it was already in existence since 2009. One of the drives that moves people is to make money obviously and making it through some new innovations always feels like the best way and so, my time of change came. It came through a news in my neighbourhood of a guy who had just cashed out $2000 from Bitcoin.

Like every other human, I developed interest. I suddenly felt the need to know everything about Bitcoin, how it works, the trading accept, the mining accept and so on. At that time, I had a friend that had tried on so many counts and on different occasions to tall me into making some crypto or Bitcoin investment. I placed a call to him and told him of my interest in Bitcoin. That I would like to learn more and buy some Bitcoin as well. He then directed me to get a wallet (Trust Wallet), gave me instructions on how to create or set it up, extract my wallet and so on. I also fund my wallet that same day and went on social media like Facebook, Instagram, Twitter, telegram, google and more in search of instruction materials and informations on Bitcoin.

Along the line, I saw an investment platform on telegram. They had different packages to pick out an investment and based on my finance level, I was comfortable with the investment package that did cut across depositing a $200 and earn $2500 in 24hours. I also saw many testimonies from other users on how they have been successful credited. It felt too good to be true but as a novice, I found it interesting and had to give it a trier. I chatted with the admin, he sent me the site and I went through it, filled up the forms and then deposited $10 worth on on the platform to be swapped for Bitcoin. Afterwards, I chatted the admin up to inform him of my successful deposit, he asked on how much I did deposited and I replied $10. He instructed that I should drop my wallet address for refund that the, minimum is $200. I dropped my wallet address and I was refunded my $10 initial deposit. At this point of a possible refund, I debeloped trust and also concluded that the platform was real then, I deposited $300 on the platform. Still referenced my my wallet address for my earning. I chatted the admin again that I have made the payment, he said I should wait for 24hours I will be credited once it 24 hours. I was excited and 24hours wasn't so much time so, I had to wait it out.

When it was time, I went to check my wallet and it wasn't credited, I went back to telegram where I found the platform and realised that, I had been removed. When i tried to chat with the admin, I couldn't find him and the chat we had together had been cleared and also deleted me.
This was the point I realised that, I had been scammed and its an experience I promised myself not to go through for a second time. It almost killed my zeal to learn but, you can't go traditional on a growing or new world order. This is the more reason why I'm very focused on learning at this point. A friend referred me to this platform recently and that it is a discussion platform on all things crypto. I'm open to learning, I'll like to know more as you guys do and then would like some correcting too when I'm wrong. Thank you.