Quote from: Kakmakr on May 07, 2019, 06:49:09 AM

Quote from: Juggy777 on May 07, 2019, 06:40:36 AM

Quote from: Kakmakr on May 07, 2019, 06:09:19 AM

We regularly read FUD articles in the popular media about Bitcoin being used in scams and that it is a perfect tool for scammers to hide their activities and the movie industry already labelled Bitcoin as the Internet of Money for the DarkNet. Roll Eyes

I am currently watching a series called, "Undercover: Nailing the Fraudsters" and most of the scams featured there are done within a regulated environment. Boiler room scammers are not requesting payment in Crypto currencies to hide their activities, they get the victims to deposit money via their Bank accounts into their Bank accounts. Roll Eyes

In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It usually refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements or committing outright stock fraud. - Source : https://en.wikipedia.org/wiki/Boiler_room_(business)

So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry. Wink

Whenever I come across any article which says bitcoin is being used to scam people, I simply close it and ignore it as I know its not the truth. If you see the stats 99% of the scams happen involves fiat money, and most happen via the method you have mentioned above. Im definitely going to watch that series, and will be using your last statement to make my case that bitcoin is not being used for scams.

I think you missed my point, I am not saying Bitcoin is not used for scams, but rather that most scams are still being done, using fiat currencies and also within a regulated financial environment. Bitcoin is used for scams and we cannot deny that, because criminals are attracted to anything that has value and offers them some kind of anonymity.

We need to break the ignorance and the stupidity of people who prefer to only see the one side of the argument and not the flaws in their own statements. Roll Eyes

So that's what many do not understand that the scammers are everywhere.And there is no difference how and where they receive funds.If we could openly analyze all the illegal operations that scammers do,then everyone would be horrified by the amount of working capital that scammers allegedly use in a regulated environment with the help of fiat money.And the fact that bitcoin and cryptocurrency many associated with fraud is simply due to lack of knowledge of what is cryptocurrency.But like You said we need to look at 2 sides of the coin.There are a lot of bad people here, too.