🕷️ Crawler Inspector

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Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 153 (from laksa156)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa153.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.cryptocoinblogger.com.ng/why-do-so-many-people-think-bitcoin-is-a-scam/\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.cryptocoinblogger.com.ng/why-do-so-many-people-think-bitcoin-is-a-scam/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.cryptocoinblogger.com.ng\/why-do-so-many-people-think-bitcoin-is-a-scam\/","crawl_time":1775774681,"first_indexed_time":1664613674,"http_code":200,"src_unparsed":"ng,com,cryptocoinblogger!www,\/why-do-so-many-people-think-bitcoin-is-a-scam\/ s443","src_root_hash":"6595733686380331753","history_drop_reason":null,"meta_title":"Why Do So Many People Think Bitcoin is a Scam? - Cryptocoinblogger.com.ng","meta_descriptions":["If you've been thinking about investing in bitcoin, you've likely heard a lot of different things. You've probably heard that it's an expensive Ponzi scheme,"],"attrs_boilerpipe_text":"If you’ve been thinking about investing in bitcoin, you’ve likely heard a lot of different things. You’ve probably heard that it’s an expensive Ponzi scheme, that it’s volatile, and that it’s anonymous. And you’ve probably heard about how it has high transaction fees. These are just some of the things that have caused people to dismiss it.\nIt’s a Ponzi scheme\nBitcoin is a controversial cryptocurrency. Some people consider it a scam and are hesitant to invest. Some have compared it to the 17th-century Dutch tulip craze, and others say it is similar to a Ponzi scheme. Others, like hedge fund manager John Paulson, have made millions by shorting subprime mortgages. But no matter how you slice it, the real value of Bitcoin comes from people trading it for goods and services.\nThe rise of Bitcoin has been accompanied by a flurry of scams. These scams ply people with flashy offers. They use photoshopped bank profiles and direct messages to lure people to send them money. Videos of these scammers have gone viral, showing them flashing expensive cars and huge amounts of cash. Once the victims send their money, they disappear.\nScammers often impersonate well-known companies. They might pretend to be from Amazon, Microsoft, FedEx, or your bank. They might send you messages on social media or even install a pop-up alert on your computer. They may ask you to send them crypto to fix your account. Then they will sell you the crypto for pocket profit.\nIt’s expensive\nDespite the hype surrounding bitcoin, many people still don’t know much about it. This includes people who believe that the cryptocurrency is a scam. There’s no doubt that the digital currency has potential for profit, but a lot of people are skeptical about its potential to work in the real world. This is particularly true when it comes to the risks associated with it. There are many stories of scams and fraud, from the WannaCry ransomware to the Silk Road. Many bitcoin exchanges have also been victims of spectacular heists and frauds. There are also stories of remote hacking, where individuals commandeer computers to mine bitcoins.\nWhile the risks of a scam are relatively low, they still exist. First of all, cryptocurrency creates an externality on the rest of us – it wastes resources. Bitcoin is so computationally intensive that creating a single bitcoin uses as much electricity as a nation uses in two years. This means that bitcoin is unlikely to become a significant part of global commerce anytime soon, and it will divert scarce power away from more useful purposes.\nIt’s volatile\nBitcoin is a relatively new asset class, but it is rapidly becoming a popular investment vehicle for individuals. Although some people may question the legitimacy of bitcoin, the fact is that it is a legitimate investment option. Moreover, there is an emerging community of altcoins, which are gaining in popularity.\nHowever, there are many warning signs of a scam. It all starts with trust. For example, if the coin creator suddenly disappears, there is a good chance that it’s a scam. Another warning sign is a crypto coin that restricts liquidity. This type of scam preys on those who aren’t knowledgeable about cryptocurrencies.\nIt’s anonymous\nBitcoin is a new currency that has many supporters. But some are skeptical. The main motivation for users is privacy, but anonymous transactions are not without risks. Criminals may use the anonymity of bitcoins to hide their identities, and they may be able to profit from it by stealing money from innocent people. But those who believe in the power of bitcoin also argue that it will revolutionize society.\nThe public narrative surrounding bitcoin tries to portray the digital currency as a break from the past. Ideological and corporate supporters hail it as a disruptive innovation, ushering in a new era of financial freedom. However, detractors contend that bitcoin will bring lawlessness and chaos to society. To avoid falling victim to such a scam, investors must be aware of the risks.\nBitcoin has been compared to the 17th century Dutch tulip craze. The Bank of England’s Andrew Bailey has warned against investing in the digital currency. In addition, Nobel laureate Nouriel Roubini has called it the’mother or father of all scams’, and he has criticized the underlying technology.\nSpread the love","attrs_markdown":"Sorry, you have Javascript Disabled! To see this page as it is meant to appear, please enable your Javascript\\!\n\n[Skip to content](https:\/\/www.cryptocoinblogger.com.ng\/why-do-so-many-people-think-bitcoin-is-a-scam\/#content)\n\n- [Advertise](https:\/\/www.cryptocoinblogger.com.ng\/cryptocurrency-sponsored-ads\/)\n\n[Cryptocoinblogger.com.ng](https:\/\/www.cryptocoinblogger.com.ng\/)\n\nCryptocurrency Tips\n\n[![](https:\/\/www.cryptocoinblogger.com.ng\/wp-content\/uploads\/2024\/03\/Linkbuilding-728x90-2.jpg)](https:\/\/www.adhang.com\/link-building-services\/ \"Digital marketing\")\n\n- [For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/topics\/cryptocurrency-for-beginners\/)\n- [Investing](https:\/\/www.cryptocoinblogger.com.ng\/topics\/cryptocurrency-investing\/)\n- [Coin Types](https:\/\/www.cryptocoinblogger.com.ng\/topics\/cryptocurrency-types\/)\n- [Advertise](https:\/\/www.cryptocoinblogger.com.ng\/cryptocurrency-sponsored-ads\/)\n- [Toggle search form](https:\/\/www.cryptocoinblogger.com.ng\/why-do-so-many-people-think-bitcoin-is-a-scam\/)\n\n![Why Do So Many People Think Bitcoin is a Scam?](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==)\n\n# Why Do So Many People Think Bitcoin is a Scam?\n[Posted on September 30, 2022September 30, 2022](https:\/\/www.cryptocoinblogger.com.ng\/why-do-so-many-people-think-bitcoin-is-a-scam\/)\n\n[By Mmadu Abuchi](https:\/\/www.cryptocoinblogger.com.ng\/author\/perfect\/)\n\nIf you’ve been thinking about investing in bitcoin, you’ve likely heard a lot of different things. You’ve probably heard that it’s an expensive Ponzi scheme, that it’s volatile, and that it’s anonymous. And you’ve probably heard about how it has high transaction fees. These are just some of the things that have caused people to dismiss it.\n\n**It’s a Ponzi scheme**\n\nBitcoin is a controversial cryptocurrency. Some people consider it a scam and are hesitant to invest. Some have compared it to the 17th-century Dutch tulip craze, and others say it is similar to a Ponzi scheme. Others, like hedge fund manager John Paulson, have made millions by shorting subprime mortgages. But no matter how you slice it, the real value of Bitcoin comes from people trading it for goods and services.\n\nThe rise of Bitcoin has been accompanied by a flurry of scams. These scams ply people with flashy offers. They use photoshopped bank profiles and direct messages to lure people to send them money. Videos of these scammers have gone viral, showing them flashing expensive cars and huge amounts of cash. Once the victims send their money, they disappear.\n\nScammers often impersonate well-known companies. They might pretend to be from Amazon, Microsoft, FedEx, or your bank. They might send you messages on social media or even install a pop-up alert on your computer. They may ask you to send them crypto to fix your account. Then they will sell you the crypto for pocket profit.\n\n**It’s expensive**\n\nDespite the hype surrounding bitcoin, many people still don’t know much about it. This includes people who believe that the cryptocurrency is a scam. There’s no doubt that the digital currency has potential for profit, but a lot of people are skeptical about its potential to work in the real world. This is particularly true when it comes to the risks associated with it. There are many stories of scams and fraud, from the WannaCry ransomware to the Silk Road. Many bitcoin exchanges have also been victims of spectacular heists and frauds. There are also stories of remote hacking, where individuals commandeer computers to mine bitcoins.\n\nWhile the risks of a scam are relatively low, they still exist. First of all, cryptocurrency creates an externality on the rest of us – it wastes resources. Bitcoin is so computationally intensive that creating a single bitcoin uses as much electricity as a nation uses in two years. This means that bitcoin is unlikely to become a significant part of global commerce anytime soon, and it will divert scarce power away from more useful purposes.\n\n**It’s volatile**\n\nBitcoin is a relatively new asset class, but it is rapidly becoming a popular investment vehicle for individuals. Although some people may question the legitimacy of bitcoin, the fact is that it is a legitimate investment option. Moreover, there is an emerging community of altcoins, which are gaining in popularity.\n\nHowever, there are many warning signs of a scam. It all starts with trust. For example, if the coin creator suddenly disappears, there is a good chance that it’s a scam. Another warning sign is a crypto coin that restricts liquidity. This type of scam preys on those who aren’t knowledgeable about cryptocurrencies.\n\n**It’s anonymous**\n\nBitcoin is a new currency that has many supporters. But some are skeptical. The main motivation for users is privacy, but anonymous transactions are not without risks. Criminals may use the anonymity of bitcoins to hide their identities, and they may be able to profit from it by stealing money from innocent people. But those who believe in the power of bitcoin also argue that it will revolutionize society.\n\nThe public narrative surrounding bitcoin tries to portray the digital currency as a break from the past. Ideological and corporate supporters hail it as a disruptive innovation, ushering in a new era of financial freedom. However, detractors contend that bitcoin will bring lawlessness and chaos to society. To avoid falling victim to such a scam, investors must be aware of the risks.\n\nBitcoin has been compared to the 17th century Dutch tulip craze. The Bank of England’s Andrew Bailey has warned against investing in the digital currency. In addition, Nobel laureate Nouriel Roubini has called it the’mother or father of all scams’, and he has criticized the underlying technology.\n\nSpread the love\n\n#### Facebook Comments\n\n[For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/topics\/cryptocurrency-for-beginners\/)\n\n## Post navigation\n[Previous Post: Why Is Crypto Going Up?](https:\/\/www.cryptocoinblogger.com.ng\/why-is-crypto-going-up\/)\n\n[Next Post: How to Sell Cryptocurrencies](https:\/\/www.cryptocoinblogger.com.ng\/how-to-sell-cryptocurrencies\/)\n\n## Related Posts\n[![The Crypto Rollercoaster: Lessons Learned from My First Major Win and Crushing Flop](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==) The Crypto Rollercoaster: Lessons Learned from My First Major Win and Crushing Flop For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/the-crypto-rollercoaster-lessons-learned-from-my-first-major-win-and-crushing-flop\/)\n\n[![How to sell products online for bitcoins](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==) How to sell products online for bitcoins For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/how-to-sell-products-online-for-bitcoins\/)\n\n[![Three Aspects of Crypto Exchange Brokers](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==) Three Aspects of Crypto Exchange Brokers For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/three-aspects-of-crypto-exchange-brokers\/)\n\n[![How to Sell Cryptocurrencies](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==) How to Sell Cryptocurrencies For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/how-to-sell-cryptocurrencies\/)\n\n[![The Environmental Impact of Cryptocurrency Mining](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==) The Environmental Impact of Cryptocurrency Mining For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/the-environmental-impact-of-cryptocurrency-mining\/)\n\n[![Understanding Blockchain for Business: A Simple Guide](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==) Understanding Blockchain for Business: A Simple Guide For Beginners](https:\/\/www.cryptocoinblogger.com.ng\/understanding-blockchain-for-business-a-simple-guide\/)\n\n## Recent Posts\n- ![Crypto Bets Rise Fast: Safe Steps for You](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==)\n  [Crypto Bets Rise Fast: Safe Steps for You](https:\/\/www.cryptocoinblogger.com.ng\/crypto-bets-rise-fast-safe-steps-for-you\/)\n- ![The Crypto Rollercoaster: Lessons Learned from My First Major Win and Crushing Flop](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==)\n  [The Crypto Rollercoaster: Lessons Learned from My First Major Win and Crushing Flop](https:\/\/www.cryptocoinblogger.com.ng\/the-crypto-rollercoaster-lessons-learned-from-my-first-major-win-and-crushing-flop\/)\n- ![Blockchain Explained Like You’re Five: The Magic Digital Ledger Book](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==)\n  [Blockchain Explained Like You’re Five: The Magic Digital Ledger Book](https:\/\/www.cryptocoinblogger.com.ng\/blockchain-explained-like-youre-five-the-magic-digital-ledger-book\/)\n- ![Start Small in Crypto: Expert Q\\&A for Zero-Experience Investors](data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==)\n  [Start Small in Crypto: Expert Q\\&A for 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[Advertise](https:\/\/www.cryptocoinblogger.com.ng\/cryptocurrency-sponsored-ads\/)\n\n## About this Blog\n[Cryptocoinblogger.com.ng](https:\/\/www.cryptocoinblogger.com.ng\/) is a Blockchain-information-based blog that is located in Africa, operated by a Nigeria-based blogger with years of experience in information marketing across the continent of Africa. [Cryptocoinblogger.com.ng](https:\/\/www.cryptocoinblogger.com.ng\/) writes and publishes informative guides, and tips about blockchain, this includes but are not limited to cryptocurrencies (BTC, USDT, etc), investment, and market trend in the blockchain industry. [Cryptocoinblogger.com.ng](https:\/\/www.cryptocoinblogger.com.ng\/) also offers cryptocurrency brands and platforms the opportunities to promote their products and services through [sponsored guest postings](https:\/\/www.cryptocoinblogger.com.ng\/cryptocurrency-sponsored-ads\/), placing advertising banners, etc.\n\n- [Cryptocurrency Advertising and Sponsored Guest Posting](https:\/\/www.cryptocoinblogger.com.ng\/cryptocurrency-sponsored-ads\/)\n- [Privacy Policy](https:\/\/www.cryptocoinblogger.com.ng\/privacy-policy\/)\n\n- [Crypto Bets Rise Fast: Safe Steps for You](https:\/\/www.cryptocoinblogger.com.ng\/crypto-bets-rise-fast-safe-steps-for-you\/)\n  by Mmadu Abuchi\n- [The Crypto Rollercoaster: Lessons Learned from My First Major Win and Crushing Flop](https:\/\/www.cryptocoinblogger.com.ng\/the-crypto-rollercoaster-lessons-learned-from-my-first-major-win-and-crushing-flop\/)\n  by Mmadu Abuchi\n- [Blockchain Explained Like You’re Five: The Magic Digital Ledger Book](https:\/\/www.cryptocoinblogger.com.ng\/blockchain-explained-like-youre-five-the-magic-digital-ledger-book\/)\n  by Mmadu Abuchi\n- [Start Small in Crypto: Expert Q\\&A for Zero-Experience Investors](https:\/\/www.cryptocoinblogger.com.ng\/start-small-in-crypto-expert-qa-for-zero-experience-investors\/)\n  by Mmadu Abuchi\n- [Set Up a Crypto Account in Under 10 Minutes: Your Fast-Track Guide to Buying Bitcoin](https:\/\/www.cryptocoinblogger.com.ng\/set-up-a-crypto-account-in-under-10-minutes-your-fast-track-guide-to-buying-bitcoin\/)\n  by Mmadu Abuchi\n- [Spotting Fake Crypto Schemes: Essential Red Flags and Quick Checks to Protect Your Investments](https:\/\/www.cryptocoinblogger.com.ng\/spotting-fake-crypto-schemes-essential-red-flags-and-quick-checks-to-protect-your-investments\/)\n  by Mmadu Abuchi\n\nCopyright © 2026 Cryptocoinblogger.com.ng.\n\nPowered by [PressBook Grid Blogs theme](https:\/\/scriptstown.com\/wordpress-themes\/pressbook-grid-blogs\/)","attrs_readable_markdown":"If you’ve been thinking about investing in bitcoin, you’ve likely heard a lot of different things. You’ve probably heard that it’s an expensive Ponzi scheme, that it’s volatile, and that it’s anonymous. And you’ve probably heard about how it has high transaction fees. These are just some of the things that have caused people to dismiss it.\n\n**It’s a Ponzi scheme**\n\nBitcoin is a controversial cryptocurrency. Some people consider it a scam and are hesitant to invest. Some have compared it to the 17th-century Dutch tulip craze, and others say it is similar to a Ponzi scheme. Others, like hedge fund manager John Paulson, have made millions by shorting subprime mortgages. But no matter how you slice it, the real value of Bitcoin comes from people trading it for goods and services.\n\nThe rise of Bitcoin has been accompanied by a flurry of scams. These scams ply people with flashy offers. They use photoshopped bank profiles and direct messages to lure people to send them money. Videos of these scammers have gone viral, showing them flashing expensive cars and huge amounts of cash. Once the victims send their money, they disappear.\n\nScammers often impersonate well-known companies. They might pretend to be from Amazon, Microsoft, FedEx, or your bank. They might send you messages on social media or even install a pop-up alert on your computer. They may ask you to send them crypto to fix your account. Then they will sell you the crypto for pocket profit.\n\n**It’s expensive**\n\nDespite the hype surrounding bitcoin, many people still don’t know much about it. This includes people who believe that the cryptocurrency is a scam. There’s no doubt that the digital currency has potential for profit, but a lot of people are skeptical about its potential to work in the real world. This is particularly true when it comes to the risks associated with it. There are many stories of scams and fraud, from the WannaCry ransomware to the Silk Road. Many bitcoin exchanges have also been victims of spectacular heists and frauds. There are also stories of remote hacking, where individuals commandeer computers to mine bitcoins.\n\nWhile the risks of a scam are relatively low, they still exist. First of all, cryptocurrency creates an externality on the rest of us – it wastes resources. Bitcoin is so computationally intensive that creating a single bitcoin uses as much electricity as a nation uses in two years. This means that bitcoin is unlikely to become a significant part of global commerce anytime soon, and it will divert scarce power away from more useful purposes.\n\n**It’s volatile**\n\nBitcoin is a relatively new asset class, but it is rapidly becoming a popular investment vehicle for individuals. Although some people may question the legitimacy of bitcoin, the fact is that it is a legitimate investment option. Moreover, there is an emerging community of altcoins, which are gaining in popularity.\n\nHowever, there are many warning signs of a scam. It all starts with trust. For example, if the coin creator suddenly disappears, there is a good chance that it’s a scam. Another warning sign is a crypto coin that restricts liquidity. This type of scam preys on those who aren’t knowledgeable about cryptocurrencies.\n\n**It’s anonymous**\n\nBitcoin is a new currency that has many supporters. But some are skeptical. The main motivation for users is privacy, but anonymous transactions are not without risks. Criminals may use the anonymity of bitcoins to hide their identities, and they may be able to profit from it by stealing money from innocent people. But those who believe in the power of bitcoin also argue that it will revolutionize society.\n\nThe public narrative surrounding bitcoin tries to portray the digital currency as a break from the past. Ideological and corporate supporters hail it as a disruptive innovation, ushering in a new era of financial freedom. However, detractors contend that bitcoin will bring lawlessness and chaos to society. To avoid falling victim to such a scam, investors must be aware of the risks.\n\nBitcoin has been compared to the 17th century Dutch tulip craze. The Bank of England’s Andrew Bailey has warned against investing in the digital currency. In addition, Nobel laureate Nouriel Roubini has called it the’mother or father of all scams’, and he has criticized the underlying technology.\n\nSpread the love","meta_canonical":null}

3. Robots.txt Check

Query:

Response:

4. Spam/Ban Check

Query:

Response:

5. Seen Status Check

ℹ️ Skipped - page is already crawled

📄

INDEXABLE

✅

CRAWLED

3 days ago

🤖

ROBOTS SERVER UNREACHABLE

Failed to connect to robots server: Operation timed out after 2002 milliseconds with 0 bytes received

Page Info Filters

Filter	Status	Condition	Details
HTTP status	PASS	`download_http_code = 200`	HTTP 200
Age cutoff	PASS	`download_stamp > now() - 6 MONTH`	0.1 months ago
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Spam/ban	PASS	`fh_dont_index != 1 AND ml_spam_score = 0`	ml_spam_score=0
Canonical	PASS	`meta_canonical IS NULL OR = '' OR = src_unparsed`	Not set

Page Details

Property	Value
URL	https://www.cryptocoinblogger.com.ng/why-do-so-many-people-think-bitcoin-is-a-scam/
Last Crawled	2026-04-09 22:44:41 (3 days ago)
First Indexed	2022-10-01 08:41:14 (3 years ago)
HTTP Status Code	200
Meta Title	Why Do So Many People Think Bitcoin is a Scam? - Cryptocoinblogger.com.ng
Meta Description	If you've been thinking about investing in bitcoin, you've likely heard a lot of different things. You've probably heard that it's an expensive Ponzi scheme,
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Boilerpipe Text	If you’ve been thinking about investing in bitcoin, you’ve likely heard a lot of different things. You’ve probably heard that it’s an expensive Ponzi scheme, that it’s volatile, and that it’s anonymous. And you’ve probably heard about how it has high transaction fees. These are just some of the things that have caused people to dismiss it. It’s a Ponzi scheme Bitcoin is a controversial cryptocurrency. Some people consider it a scam and are hesitant to invest. Some have compared it to the 17th-century Dutch tulip craze, and others say it is similar to a Ponzi scheme. Others, like hedge fund manager John Paulson, have made millions by shorting subprime mortgages. But no matter how you slice it, the real value of Bitcoin comes from people trading it for goods and services. The rise of Bitcoin has been accompanied by a flurry of scams. These scams ply people with flashy offers. They use photoshopped bank profiles and direct messages to lure people to send them money. Videos of these scammers have gone viral, showing them flashing expensive cars and huge amounts of cash. Once the victims send their money, they disappear. Scammers often impersonate well-known companies. They might pretend to be from Amazon, Microsoft, FedEx, or your bank. They might send you messages on social media or even install a pop-up alert on your computer. They may ask you to send them crypto to fix your account. Then they will sell you the crypto for pocket profit. It’s expensive Despite the hype surrounding bitcoin, many people still don’t know much about it. This includes people who believe that the cryptocurrency is a scam. There’s no doubt that the digital currency has potential for profit, but a lot of people are skeptical about its potential to work in the real world. This is particularly true when it comes to the risks associated with it. There are many stories of scams and fraud, from the WannaCry ransomware to the Silk Road. Many bitcoin exchanges have also been victims of spectacular heists and frauds. There are also stories of remote hacking, where individuals commandeer computers to mine bitcoins. While the risks of a scam are relatively low, they still exist. First of all, cryptocurrency creates an externality on the rest of us – it wastes resources. Bitcoin is so computationally intensive that creating a single bitcoin uses as much electricity as a nation uses in two years. This means that bitcoin is unlikely to become a significant part of global commerce anytime soon, and it will divert scarce power away from more useful purposes. It’s volatile Bitcoin is a relatively new asset class, but it is rapidly becoming a popular investment vehicle for individuals. Although some people may question the legitimacy of bitcoin, the fact is that it is a legitimate investment option. Moreover, there is an emerging community of altcoins, which are gaining in popularity. However, there are many warning signs of a scam. It all starts with trust. For example, if the coin creator suddenly disappears, there is a good chance that it’s a scam. Another warning sign is a crypto coin that restricts liquidity. This type of scam preys on those who aren’t knowledgeable about cryptocurrencies. It’s anonymous Bitcoin is a new currency that has many supporters. But some are skeptical. The main motivation for users is privacy, but anonymous transactions are not without risks. Criminals may use the anonymity of bitcoins to hide their identities, and they may be able to profit from it by stealing money from innocent people. But those who believe in the power of bitcoin also argue that it will revolutionize society. The public narrative surrounding bitcoin tries to portray the digital currency as a break from the past. Ideological and corporate supporters hail it as a disruptive innovation, ushering in a new era of financial freedom. However, detractors contend that bitcoin will bring lawlessness and chaos to society. To avoid falling victim to such a scam, investors must be aware of the risks. Bitcoin has been compared to the 17th century Dutch tulip craze. The Bank of England’s Andrew Bailey has warned against investing in the digital currency. In addition, Nobel laureate Nouriel Roubini has called it the’mother or father of all scams’, and he has criticized the underlying technology. Spread the love
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[Posted on September 30, 2022September 30, 2022](https://www.cryptocoinblogger.com.ng/why-do-so-many-people-think-bitcoin-is-a-scam/) [By Mmadu Abuchi](https://www.cryptocoinblogger.com.ng/author/perfect/) If you’ve been thinking about investing in bitcoin, you’ve likely heard a lot of different things. You’ve probably heard that it’s an expensive Ponzi scheme, that it’s volatile, and that it’s anonymous. And you’ve probably heard about how it has high transaction fees. These are just some of the things that have caused people to dismiss it. It’s a Ponzi scheme Bitcoin is a controversial cryptocurrency. Some people consider it a scam and are hesitant to invest. Some have compared it to the 17th-century Dutch tulip craze, and others say it is similar to a Ponzi scheme. Others, like hedge fund manager John Paulson, have made millions by shorting subprime mortgages. But no matter how you slice it, the real value of Bitcoin comes from people trading it for goods and services. The rise of Bitcoin has been accompanied by a flurry of scams. These scams ply people with flashy offers. They use photoshopped bank profiles and direct messages to lure people to send them money. Videos of these scammers have gone viral, showing them flashing expensive cars and huge amounts of cash. Once the victims send their money, they disappear. Scammers often impersonate well-known companies. They might pretend to be from Amazon, Microsoft, FedEx, or your bank. They might send you messages on social media or even install a pop-up alert on your computer. They may ask you to send them crypto to fix your account. Then they will sell you the crypto for pocket profit. It’s expensive Despite the hype surrounding bitcoin, many people still don’t know much about it. This includes people who believe that the cryptocurrency is a scam. There’s no doubt that the digital currency has potential for profit, but a lot of people are skeptical about its potential to work in the real world. This is particularly true when it comes to the risks associated with it. There are many stories of scams and fraud, from the WannaCry ransomware to the Silk Road. Many bitcoin exchanges have also been victims of spectacular heists and frauds. There are also stories of remote hacking, where individuals commandeer computers to mine bitcoins. While the risks of a scam are relatively low, they still exist. First of all, cryptocurrency creates an externality on the rest of us – it wastes resources. Bitcoin is so computationally intensive that creating a single bitcoin uses as much electricity as a nation uses in two years. This means that bitcoin is unlikely to become a significant part of global commerce anytime soon, and it will divert scarce power away from more useful purposes. It’s volatile Bitcoin is a relatively new asset class, but it is rapidly becoming a popular investment vehicle for individuals. Although some people may question the legitimacy of bitcoin, the fact is that it is a legitimate investment option. Moreover, there is an emerging community of altcoins, which are gaining in popularity. However, there are many warning signs of a scam. It all starts with trust. For example, if the coin creator suddenly disappears, there is a good chance that it’s a scam. Another warning sign is a crypto coin that restricts liquidity. This type of scam preys on those who aren’t knowledgeable about cryptocurrencies. It’s anonymous Bitcoin is a new currency that has many supporters. But some are skeptical. The main motivation for users is privacy, but anonymous transactions are not without risks. Criminals may use the anonymity of bitcoins to hide their identities, and they may be able to profit from it by stealing money from innocent people. But those who believe in the power of bitcoin also argue that it will revolutionize society. The public narrative surrounding bitcoin tries to portray the digital currency as a break from the past. Ideological and corporate supporters hail it as a disruptive innovation, ushering in a new era of financial freedom. However, detractors contend that bitcoin will bring lawlessness and chaos to society. To avoid falling victim to such a scam, investors must be aware of the risks. Bitcoin has been compared to the 17th century Dutch tulip craze. The Bank of England’s Andrew Bailey has warned against investing in the digital currency. In addition, Nobel laureate Nouriel Roubini has called it the’mother or father of all scams’, and he has criticized the underlying technology. 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Readable Markdown	If you’ve been thinking about investing in bitcoin, you’ve likely heard a lot of different things. You’ve probably heard that it’s an expensive Ponzi scheme, that it’s volatile, and that it’s anonymous. And you’ve probably heard about how it has high transaction fees. These are just some of the things that have caused people to dismiss it. It’s a Ponzi scheme Bitcoin is a controversial cryptocurrency. Some people consider it a scam and are hesitant to invest. Some have compared it to the 17th-century Dutch tulip craze, and others say it is similar to a Ponzi scheme. Others, like hedge fund manager John Paulson, have made millions by shorting subprime mortgages. But no matter how you slice it, the real value of Bitcoin comes from people trading it for goods and services. The rise of Bitcoin has been accompanied by a flurry of scams. These scams ply people with flashy offers. They use photoshopped bank profiles and direct messages to lure people to send them money. Videos of these scammers have gone viral, showing them flashing expensive cars and huge amounts of cash. Once the victims send their money, they disappear. Scammers often impersonate well-known companies. They might pretend to be from Amazon, Microsoft, FedEx, or your bank. They might send you messages on social media or even install a pop-up alert on your computer. They may ask you to send them crypto to fix your account. Then they will sell you the crypto for pocket profit. It’s expensive Despite the hype surrounding bitcoin, many people still don’t know much about it. This includes people who believe that the cryptocurrency is a scam. There’s no doubt that the digital currency has potential for profit, but a lot of people are skeptical about its potential to work in the real world. This is particularly true when it comes to the risks associated with it. There are many stories of scams and fraud, from the WannaCry ransomware to the Silk Road. Many bitcoin exchanges have also been victims of spectacular heists and frauds. There are also stories of remote hacking, where individuals commandeer computers to mine bitcoins. While the risks of a scam are relatively low, they still exist. First of all, cryptocurrency creates an externality on the rest of us – it wastes resources. Bitcoin is so computationally intensive that creating a single bitcoin uses as much electricity as a nation uses in two years. This means that bitcoin is unlikely to become a significant part of global commerce anytime soon, and it will divert scarce power away from more useful purposes. It’s volatile Bitcoin is a relatively new asset class, but it is rapidly becoming a popular investment vehicle for individuals. Although some people may question the legitimacy of bitcoin, the fact is that it is a legitimate investment option. Moreover, there is an emerging community of altcoins, which are gaining in popularity. However, there are many warning signs of a scam. It all starts with trust. For example, if the coin creator suddenly disappears, there is a good chance that it’s a scam. Another warning sign is a crypto coin that restricts liquidity. This type of scam preys on those who aren’t knowledgeable about cryptocurrencies. It’s anonymous Bitcoin is a new currency that has many supporters. But some are skeptical. The main motivation for users is privacy, but anonymous transactions are not without risks. Criminals may use the anonymity of bitcoins to hide their identities, and they may be able to profit from it by stealing money from innocent people. But those who believe in the power of bitcoin also argue that it will revolutionize society. The public narrative surrounding bitcoin tries to portray the digital currency as a break from the past. Ideological and corporate supporters hail it as a disruptive innovation, ushering in a new era of financial freedom. However, detractors contend that bitcoin will bring lawlessness and chaos to society. To avoid falling victim to such a scam, investors must be aware of the risks. Bitcoin has been compared to the 17th century Dutch tulip craze. The Bank of England’s Andrew Bailey has warned against investing in the digital currency. In addition, Nobel laureate Nouriel Roubini has called it the’mother or father of all scams’, and he has criticized the underlying technology. Spread the love
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