Why Are People So Gullible?
They both dropped celebrity names so it must be legitimate right? Elon Musk and Jeremy Clarkson were mentioned backing this scheme and has me worried as to how many have fallen for this latest scam.
Last week I was chatting with my mother who knows nothing about Crypto yet mentioned Jeremy Clarkson and some Bitcoin investment scheme that makes decent returns. I hadn't given it any thought until today when someone mentioned Bitcoin Loophole and gathered it must be something similar. Two mentions from two different parts of the world from two people who know nothing about Crypto had my alarm bells ringing.
I did a quick search and definitely not something I would participate in as it looks as dodgy as hell. You know we are in the Bear market when you see these scams appearing at 10 to the dozen.
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I think the biggest giveaway is I have been involved in Crypto for nearly 5 years and have never heard of this Bitcoin Loophole before. How come it is only the ones who are not involved in Crypto highlighting this "new" opportunity? This is worrying as how many thousands of gullible people have been sucked in and can kiss their $250 goodbye? The problem is once the $250 has been deposited they will lure you in to invest more as the unlicensed brokers will ask for top ups sucking you dry.
If something appears too good to be true then it most likely is and walk away immediately. The first tell tale sign was the trading bot offering 85% returns and we have seen those types of businesses the last bear with many falling victim to these scams.
The other red flag was the demo trading bot expires tomorrow so you better hurry up and not think too much on this. If something is legit there is no tine pressure to sign up and test their trading bot.
Unfortunately this is what Crypto has become and many "investors"need to get burned learning a harsh lesson. Why are people so gullible is rather obvious as this is all driven by greed. Greed clouds your judgement and when you have no clue about something you are investing in it is better to seek advice first. I have told both people to stay away and to always ask if they are not sure.
The good thing is it also tells us many more people are looking at Crypto than 4 years ago even if it is only a scam as they are reading about Bitcoin. I do think it is our duty being legitimate Crypto believers to warn people away from these types of scams.
I am happy these days earning 10% or 15% or even 20% with HBD as these investments are legit and real. When you are chasing pie in the sky like LUNA or USDD you are asking for trouble and why DYOR is that important. These are so called serious Crypto people being taken to the cleaners so what chance does an outsider have with no or limited Crypto knowledge.
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I don’t even think it’s about greed, some are just really gullible, and I’m beginning to think those people are deliberately gullible.
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Have to laugh, my son showed me one of these the other day "investment", drop in your money and grow some unbelievable amount by reinvesting continuously!
Greed, pyramid scams are driven by a handful, yes they get rich while you get poorer!
Good message to share!
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Thanks for sharing, let those that have ears let them hear.
The thing is as long as there is a thing called greed, people will continue to fall for all these scam schemes.
I have heard of people being ripped off by these scammers. My own brother, who is very net savvy got caught out by an advert on Facebook about bitcoin investment. He fortunately didn't lose too much money. I don't understand crypto so I won't be parting with my cash. I'm happy to earn a little bit of Hive on this platform, but it's really just a bonus. I enjoy writing and interacting.
Scammers are using every trick possible to trick people and it's getting too much that it's even easy for a crypto expert to fall for one of them.
But in most cases greed is the devil, there are always red flags but greed makes us ignore the signs.
This is my first time hearing about bitcoin loophole. And the fact that it is only those who aren’t well deep in the crypto that know of the opportunity sings scam loudly. The problem is people would still fall for this trap
I agree and why I knew it was a scam immediately as we have no clue about this. Many will fall for this unfortunately.
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STOPWe veterans in the space tend to be more conscious than those newbies just entering and liken crypto to a ponzi scheme. They aren't very interested in what it stands for, only making quick returns
Using tactics like time limits drags people away from thinking and making quick decisions without actually weighing the pros and cons and see potential dangers.
It is certainly the greed that these people make use of but greed is all natural to mankind. All of us want to get more. The important thing is to not trust anyone blindly but to ask the trustworthy people.
I think FOMO is also responsible for making people gullible for such scams